Legal Cannabis Market Report 2025 (Global Edition)

Global Legal Cannabis Market Report 2025 Market Size Split by Product (Flowers, Concentrates, Edibles, Topical & Tinctures), by Source (Marijuana, Hemp), by Derivation (CBD, THC), by End Use (• Medi...

Legal Cannabis Market Report Description

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Competitive Landscape: Legal Cannabis Market

Major market participants who are essential in determining consumer preferences and market dynamics have a major impact on the legal cannabis market. These major players provide consumers with easy access to a vast array of wardrobe options through their extensive retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also increased consumer trust and loyalty. In addition, these industry titans never stop funding R&D, bringing cutting-edge styles, materials, and practical features to clothing wardrobes to meet changing customer demands and preferences. These big players' combined efforts have a big impact on the market's future direction and level of competition.

Top Companies Market Share in Legal Cannabis Industry: (In no particular order of Rank)

• Aurora Cannabis
• Canopy Growth Corporation
• Bhang Corporation
• Cannoid
• Elixinol
• Medical Marijuana
• Mentor Capital
• CBD American Shaman
• CV Sciences
• FOLIUM BIOSCIENCES
• IRIE CBD
• Meadow Care
• Pharmahemp
• Terra Tech
• NuLeaf Naturals
• United Cannabis
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Which Region will dominate the Market in 2024?

North America accounted for the largest revenue share of over xx% in 2024. Revenue generated is highly territorial owing to laws and policies on the trade of cannabis. The majority of the established companies are from the North American region, resulting in it being the largest market shareholder. The sales of CBD turned a new leaf during the pandemic. In the U.S., in more than 8 states, dispensaries selling CBD products were deemed essential, many states legalized cannabis during the pandemic, and the sales continued to climb. There has been an increase in the number of countries allowing the production of cannabis for internal and domestic use. Canada was the first country to have cannabis legalization and regulatory protocols in place. The current market for the import and export of cannabis is limited, the market will see a change only once pharmaceutical industries take interest in formulating API-grade CBD and an organization like the WHO forms trade policies regarding the use, production, and sale (import, export) of cannabis. 

Which Region is Expanding at the Fastest CAGR?

Asia is the fastest-growing regional market and is anticipated to register the fastest growth rate of xx%. This can be due to the increase in the acceptance of cannabis across different countries in the region. The number of clinical studies on possible uses of cannabis in a myriad of medical conditions can also be a key driver for the regional market. Recreational use of marijuana is still frowned upon in most parts of Asia, but medicinal and industrial use of marijuana is gaining popularity in the region. In Japan, clinical trials for CBD compounds have been approved but possession of recreational cannabis is still punishable by up to 5 years in prison with the growing geriatric population, Japan is set to become a substantial consumer of medicinal cannabis. China has been growing hemp, a part of the cannabis plant used to make fibers, and is frequently used in beauty products. 

The current report Scope analyzes Legal Cannabis Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

Legal Cannabis Market Analysis

Legal Cannabis Market Type Segment Analysis

• Flowers
• Concentrates
• Edibles
• Topical & Tinctures

In 2024, the cannabis market was dominated by the flower segment and held the largest share of the market. The dominance of this flower segment is due to its conventional characteristics and extensive approval by both recreational and medicinal consumers. Many users prefer cannabis flowers due to their flexibility. It can be smoked, vaporized, and used to make essences such as blueberry and raspberry. New markets for this segment are also driven by the rising number of countries and states where cannabis is now legal and the widening customer base. Further, craft hemp holds its ground, and more and more people shift to natural unprocessed products, which also sustains the demand for hemp flowers.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Legal Cannabis Industry. Request a Free Sample PDF!

Legal Cannabis Market Type Segment Analysis

• Marijuana
• Hemp

In 2024, marijuana accounted for the largest revenue share of over xx%. Hemp is anticipated to register the fastest growth rate of xx%. The growth in the segment can be attributed to the increasing rate of legalization across the globe. Both recreational and medical marijuana have seen a huge jump in acceptance and legalization since the pandemic. The use of medical marijuana is acceptable in several countries including the U.S., Canada, Italy, Czech Republic, Croatia, and Australia. A lot of countries are legalizing the production as well as domestic use of marijuana. For instance, Ecuador has now legalized cannabis production. The growing consumer base of cannabis and the legal purchasing of marijuana and other cannabis products have made possession and selling in regulated quantities much more decriminalized.
•    For instance, in April 2023, PharmaCielo, a Canadian cultivator and producer of dried flower and medicinal-grade cannabis extracts partnered with CANNPRISMA-PHARMA, a Portuguese Contract Manufacturing Organization. The deal was focused on supplying high-quality EU-GMP1-certified medicinal marijuana flowers to the European market. 
(Source:https://www.pharmacielo.com/2023/04/25/pharmacielo-announces-strategic-partnership-with-cannprisma-to-supply-eu-gmp-certified-dried-flower-to-the-european-medicinal-cannabis-market/ )

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Legal Cannabis Derivation Segment Analysis

In 2024, CBD accounted for the largest revenue share of over xx%. This growth is due to the acceptance of the efficacy of CBD by the scientific community and by consumers. However, studies are still underway to determine the potential uses of CBD other than the ones currently indicated. CBD has proven to be beneficial for the treatment of epileptic seizures and for nausea in chemotherapy, it has lower side effects than the traditional medicines being prescribed. CBD has been studied for the treatment of anxiety and sleep disorders and has been found to have positive effects on patients during the study but the long-term effects remain to be studied.
•    For instance, In April 2024, Avicanna launched a new version of its proprietary oral cannabidiol (CBD) formulation, called RHO Phyto Micro Drop 10, in Canada. The oral CBD formulation is found in Trunerox, an add-on treatment for seizures in people with Dravet syndrome and Lennox-Gastaut syndrome (LGS) that’s approved in Colombia. 
(Source:https://dravetsyndromenews.com/news/avicanna-announces-canadian-launch-new-oral-cbd-formulation/ )

• CBD
• THC

Legal Cannabis End Use Segment Analysis

In 2024, the medical-use segment accounted for the largest revenue share of over xx%. Several studies are being conducted to determine the potency and efficacy of cannabis and its derivatives for the treatment of various conditions, this has resulted in the increased adoption of medical cannabis throughout the world. Legalization of its use has also served as a key factor for market growth. The medical use application has been widely accepted and is thus the largest sub-segment. With the governments making policies on its use and regulations the medical practitioners are now finding it easier to prescribe to patients who demand it. The awareness regarding the benefits has significantly reduced the stigma surrounding the use of cannabis.
•    For instance, In June 2024, NOW launched a new line of THC-free CBD topical products. The NOW Solutions' additions include a CBD Balm, CBD Massage Oil, and CBD Joint & Muscle Cream, which are formulated with broad-spectrum hemp as well as a range of botanical ingredients that support muscles, joints, and skin. 
(Source:https://www.cosmeticsdesign.com/Article/2024/06/11/NOW-launches-new-line-of-THC-free-CBD-topical-productsv )

• • Medical Use
• • Recreational Use
• • Industrial Use

Author's Detail

Ashwini Moharir

Research Analyst at Cognitive Market Research

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Profile

Enthusiastic and analytical market research professional with 2 years of hands-on experience in tracking market trends, evaluating consumer behavior, and supporting strategic decision-making. Proficient in designing surveys, conducting interviews, and synthesizing insights from both primary and secondary sources. Successfully contributed to research projects across sectors such as retail, personal care, and industrial markets. Brings a keen eye for detail, strong data interpretation skills, and a passion for uncovering what drives markets forward. Comfortable working in fast-paced environments and collaborating across departments to deliver clear, actionable findings.

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