Austin, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Legal Cannabis Market Size & Growth Analysis:
According to SNS Insider, the Legal Cannabis Market was valued at USD 22.16 billion in 2024. The market is projected to grow to USD 138.08 billion in the coming period (2025-2032), at a compound annual growth rate (CAGR) of approximately 25.75%. In the US in particular, the legal cannabis market was valued at USD 29.15 billion in 2024 and is expected to reach USD 144.15 billion by 2032, at a rate of growth of around 22.15% per year.
The main reason for this growth is the increasing prevalence of medical and recreational use of cannabis worldwide. Many countries have allowed its medical use, changing social attitudes, and increased investment in research and development. New technologies are being developed for the production, processing, and distribution of cannabis. The use of cannabis derivatives in the food, beverage, and pharmaceutical sectors is increasing, which has given further momentum to this market.
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Major Players Analysis Listed in the Legal Cannabis Market Report are
- Canopy Growth Corporation
- Aurora Cannabis Inc.
- Tilray Brands Inc.
- Cronos Group Inc.
- Curaleaf Holdings Inc.
- Trulieve Cannabis Corp.
- Green Thumb Industries (GTI)
- Cresco Labs
- Aphria Inc.
- Ayr Wellness Inc.
- Hexo Corp.
- Columbia Care Inc.
- MedMen Enterprises Inc.
- Organigram Holdings Inc.
- Sundial Growers Inc.
- TerrAscend Corp.
- Vireo Health International Inc.
- Harvest Health & Recreation Inc.
- Jushi Holdings Inc.
- Village Farms International Inc.
Legal Cannabis Market Report Scope
| Report Attributes | Details |
| Market Size in 2024 | USD 22.16 Billion |
| Market Size by 2032 | USD 138.08 Billion |
| CAGR | CAGR of 25.75% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Key Segments | • By Source (Marijuana, Hemp) • By Product Type (Flowers/Buds, Oils, Tinctures, Edibles [Gummies, Baked Goods, Beverages], Topicals [Creams, Balms, Lotions], Capsules and Tablets, Concentrates [Waxes, Shatter, Rosin], Others [Transdermal Patches, Suppositories]) • By Derivative (CBD, THC) • By End-use (Medical Use, Recreational Use, Industrial Use, Veterinarians [Cannabis Products for Animals]) |
| Regional Analysis/Coverage | North America (US, Canada), Europe (Germany, UK, France, Italy, Spain, Russia, Poland, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN Countries, Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Mexico, Colombia, Rest of Latin America). |
Segmentation Analysis:
By Source
The marijuana segment dominated the legal cannabis market share by source in 2024, with a 76.4% due to its extensive use in medicinal and recreational purposes. The hemp segment is expected to be the significantly growing over the forecast period in the forecast period, due to the rising demand for cannabidiol (CBD) based wellness and therapeutic products.
By Product Type
Due to holistic use and coping strategies, the flowers/buds segment dominated the legal cannabis market in 2024. The fastest growth during the forecast period is expected for the edibles segment, including gummies, baked goods, and beverages, fueled by the shift from smoking to cleaner consumption methods, oil dosing, and long-lasting effects.
By Derivative
The widespread use in wellness & therapeutics, nutraceuticals, cosmetics, and pharmaceuticals was one of the key factors that significantly increased the total CBD derivative segment and led to dominance over other derivatives in the legal cannabis market in 2024. The THC segment is estimated to witness the highest growth during the forecast period due to the rise across major markets in the legalization of recreational cannabis, including Germany, Mexico, and several other U.S. states.
By End-Use
The medical use segment held the largest share in 2024 of the legal cannabis market, driven by the acceptance of cannabis as an effective treatment for chronic pain, epilepsy, multiple sclerosis, anxiety, and nausea caused by chemotherapy. The recreational use segment is projected to grow the fastest during the forecast period, owing to the rapidly rising legalization of cannabis for adult use in North America and a few European and Latin American countries.
By Region
Early and broad legalization in major U.S. and Canadian markets drive North America’s dominance in the legal cannabis market trend with a 48.3% market share.
The legal cannabis market in Asia Pacific is growing at the fastest pace, with around 26.34% CAGR over the forecast period, with countries, such as Thailand, South Korea, and Australia working toward the legalization of medical cannabis use.
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Recent News:
- April 2025 – Aurora Cannabis Inc., a top Canadian-based international medical cannabis firm, reported the successful completion of a multi-year $3 million investment to modernize its production plant based in Pemberton, British Columbia. The improvements are intended to streamline production and enhance the company's long-term success in the medical cannabis industry.
- June 2025 – Tilray Medical, the medical subsidiary of Tilray Brands, Inc., and a worldwide cannabis medical leader, published a new scientific paper. The study compares bioavailability among different cannabinoid formulations, furthering clinical knowledge and enabling informed, individualized treatment choices between physicians and patients.
Exclusive Sections of the Report (The USPs):
- CANNABIS USE PREVALENCE METRICS – helps you understand regional variations in medical and recreational cannabis consumption, first-time usage trends, and dependency prevalence across demographic groups.
- PRESCRIPTION & ACCESS TRENDS – helps you analyze prescription volumes, top therapeutic indications, and patient participation rates in regulated medical cannabis programs across leading markets.
- PRODUCT SALES VOLUME INDEX – helps you evaluate product category performance by comparing sales of flowers, edibles, oils, and topicals, along with regional growth dynamics and emerging substitution trends such as vaping and edibles.
- CONSUMER SPENDING BENCHMARKS – helps you assess total and per capita cannabis expenditure by region and payer type, highlighting the balance between retail, insurance-covered, and government-reimbursed purchases.
- TECHNOLOGICAL & DISTRIBUTION ADOPTION RATE – helps you track evolving retail models through e-commerce and dispensary purchase trends, uncovering new opportunities for digital and direct-to-consumer expansion.
- COMPETITIVE LANDSCAPE – helps you gauge the positioning of major cannabis producers and distributors by analyzing their regional presence, product mix evolution, and strategic investments in emerging therapeutic and recreational segments.
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