How Big Is the Cannabinoid Market | Growth & Trends 2031

Q: How big is the cannabinoid market?

The cannabinoid market was estimated at USD 14 billion in 2024 and is projected to reach USD 29 billion by 2031.

Q: What is driving the growth of the cannabinoid market?

Therapeutic demand, legalization trends, and consumer preference for natural alternatives are fuelling market growth.

Q: What are the major trends in the cannabinoid industry?

Rise of minor cannabinoids, pharma collaborations, and broad-spectrum product development are major trends.

Q: Who are the top players in the cannabinoid market?

Top players of the market include GW Pharmaceuticals, Canopy Growth, Cronos Group, and Tilray.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA5567

Publication Date: Jul 2025

What is the size of the Cannabinoid Market?

According to 6Wresearch internal database and industry insights, the Global Cannabinoids Market was valued at USD 14.6 Billion in 2024 and is expected to reach USD 32.3 Billion by 2031, growing at a compound annual growth rate of 11.91% during the forecast period (2025-2031).

Due to several factors including the increasing acceptance of cannabinoids in medical and wellness applications, expanding legalization, and continuous research highlighting therapeutic benefits of compounds, the cannabinoid market is predicted for the exceptional growth in the coming years.

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Key Growth Factors of the Cannabinoid Market

Rising clinical research supporting therapeutic applications
Legalization and regulatory reform across North America and Europe
Surge in demand for cannabinoid-infused wellness and pharmaceutical products
Increasing public acceptance of cannabis-derived compounds
Innovation in delivery formats such as vapes, tinctures, capsules, and edibles

Cannabinoid Market Trends

The cannabinoid market is undergoing for the transformation increasing interest in minor cannabinoids like CBN, CBG, and CBC for targeted health outcomes. Other trends are the full-spectrum and broad-spectrum formulations which are gaining traction, offering consumers a blend of therapeutic benefits. This market is expanding into pet health, sports recovery, and mental wellness sectors which is opening new revenue streams for producers and retailers.

Emerging Developments in the Cannabinoid Market

Cannabinoid market is being advanced with the biotechnological advances which are enabling lab-synthesized cannabinoids, ensuring purity and scalability. Aside from these, strategies such as the partnerships between pharmaceutical companies and cannabis firms are leading to clinical trials and development of prescription-grade cannabinoid drugs. Further, the emergence of novel cannabinoids with enhanced effects and tailored use-cases is reshaping product innovation strategies.