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Recreational Cannabis Market

Recreational Cannabis Market Size, Share & Trends Analysis Report by Product Type (Oils, Transdermal Patches, Tablets, Concentrates, Topical, Vape, Suppositories, Tinctures, Isolates, Flowers, Edibles, Capsules, Creams, Roll-Ons and Others), Compound (THC Dominant, CBD Dominant and Balanced THC and CBD), Application, Region And Segment Forecasts, 2023-2031

Report ID : 1856 | Published : 2023-06-15 | Pages: 180 | Format: PDF/EXCEL

The Global Recreational Cannabis Market Size is valued at 23.46 billion in 2022 and is predicted to reach 113.07 billion by the year 2031 at a 19.23% CAGR during the forecast period for 2023-2031.

Cannabis, sometimes known as marijuana, is a herbal treatment derived from Cannabis plants that are used to treat various symptoms and ailments, including cancer, chronic pain, and mental disorders. CBD and THS are the two major cannabinoids generated from this plant that have medical potential. Marijuana is also the most commonly used narcotic that affects consciousness.

Recreational Cannabis Market

Recreational marijuana is commonly smoked as a dry, shredded mixture of green and brown flowers, stems, seeds, and leaves. Marijuana can be taken recreationally as a blunt, pipe or bong, or cigarette (joint). People can now consume medicines without fear of harm and benefit from their medicinal advantages thanks to the legalization of cannabis. As a result, many governments are increasingly legalizing cannabis use. At the same time, it remains illegal in the majority of countries.

Cannabis use for recreational purposes has grown in popularity around the world as the regulations controlling its use and sale have become more relaxed over time. This has aided the overall growth of the recreational cannabis market. This market category is already surpassing all others because of the high demand for cannabis for recreational uses. If recreational cannabis becomes legal, the market for it may expand dramatically.

However, marijuana usage behaviors may not be substantially disturbed over protracted periods of social isolation during the COVID-19 pandemic epidemic, resulting in its continued demand throughout the pandemic. Many states have deemed medicinal marijuana used to be legal, and medical marijuana shops have been designated as important companies. 

Competitive Landscape:

Some of the Recreational Cannabis Market players are:

  • Cannabis Science Inc.
  • Canopy Growth Corporation
  • Cresco Labs
  • Medical Marijuana, Inc.
  • Organigrams Holding Inc.
  • The Cronos Group
  • Trulieve

Market Segmentation:

The Recreational Cannabis Market is segmented on the basis of product, compound and application. Product segment includes Oils, Transdermal Patches, Tablets, Concentrates, Topical, Vape, Suppositories, Tinctures, Isolates, Flowers, Edibles, Capsules, Creams, Roll-Ons and Others, organic acids and other products. The compound segment includes THC dominant, CBD dominant, and balanced THC and CBD. Application segment includes chronic pain, cancer, mental disorder, sleep management, and others.

Based On Product, The Flowers Segment Is Accounted As A Major Contributor To The Recreational Cannabis Market

The flowers category is expected to hold a major share of the global recreational cannabis market in 2022. Marijuana flower, or "bud," is the most widely consumed product in the world. A "bud" typically contains 15% to 30% THC, 0.1% to 1% CBD, and negligible quantities of other cannabinoids. Cannabinoids have boiling temperatures that are lower than the temperature at which flower burns; this is the principle used in vaporizers, which are rapidly gaining popularity; complex vaporizers are being created to maintain temperatures that target the activation of certain cannabinoids.

The Chronic Pain Segment Witnessed Growth At A Rapid Rate

The chronic pain segment is projected to grow at a rapid rate in the global Recreational Cannabis Market. Medicinal applications include the inclusion of cannabinoids or cannabinoid-like substances in pharmaceutical goods. Some well-known hemp-based medications include Sativex, Marinol, and Cesamet. The global health and wellness trend has enabled the rise of the medical marijuana business and, in particular, the use of Cannabidiol (CBD). An increasing body of studies suggests that CBD can be used in treating a variety of chronic pain conditions.

In The Region, The North America Recreational Cannabis Market Holds A Significant Revenue Share

The North America Recreational Cannabis Market is expected to report the highest market share in terms of revenue in the near future. Its cultivators in the United States have risen dramatically, fuelling its consumption and applications. This is expected to boost sales and open new revenue streams for regional companies. Because of the expanding usage of medical cannabis and progressive regulations, Europe is the second-largest market. Medical marijuana has been shown in trials to be useful in treating illnesses ranging from cancer to appetite stimulants in individuals with AIDS-related sickness in European countries.

Furthermore, due to changes in government policy, the product's demand is predicted to skyrocket. Many countries' applicable law is new; the Greek government legalized medical marijuana in 2018, the same year as the United Kingdom. As a result, rising therapeutic use of the substance in countries is likely to improve regional sales.

Recreational Cannabis Market Report Scope:

Report Attribute


Market size value in 2022

USD 23.46 Bn

Revenue forecast in 2031

USD 113.07 Bn

Growth rate CAGR

CAGR of 19.23 % from 2023 to 2031

Quantitative units

Representation of revenue in US$ Billion, and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year


Report coverage

The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends

Segments covered

Product, Compound And Application

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

AURORA CANNABIS INC., Cannabis Science Inc., Canopy Growth Corporation, Cresco Labs, INDIVA, Medical Marijuana, Inc., Organigrams Holding Inc., STENOCARE A/S, The Cronos Group, Trulieve.

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

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Segmentation of Recreational Cannabis Market-

Recreational Cannabis Market By Product Type-

  • Oils
  • Transdermal Patches
  • Tablets
  • Concentrates
  • Topical
  • Vape
  • Suppositories
  • Tinctures
  • Isolates
  • Flowers
  • Edibles
  • Capsules
  • Creams
  • Roll-Ons
  • Others

Recreational Cannabis Market

Recreational Cannabis Market By Compound-

  • THC Dominant
  • CBD Dominant
  • Balanced THC and CBD

Recreational Cannabis Market By Application-

  • Chronic Pain
  • Cancer
  • Mental Disorder
  • Sleep Management
  • Others

Recreational Cannabis Market By Region-

North America-

  • The US
  • Canada
  • Mexico


  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe


  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

 InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Recreational Cannabis Market?

Recreational Cannabis Market expected to grow at a 19.23% CAGR during the forecast period for 2023-2031

AURORA CANNABIS INC., Cannabis Science Inc., Canopy Growth Corporation, Cresco Labs, INDIVA, Medical Marijuana, Inc., Organigrams Holding Inc.

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