Recreational Cannabis Market Size is valued at USD 35.33 billion in 2024 and is predicted to reach USD 52.79 billion by the year 2034 at a 4.02% CAGR during the forecast period for 2025-2034.
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 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.
The Recreational Cannabis Market is segmented on the basis of product and compound. 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.
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 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.
|
Report Attribute |
Specifications |
|
Market size value in 2024 |
USD 35.33 Bn |
|
Revenue Forecast in 2034 |
USD 52.79 Bn |
|
Growth rate CAGR |
CAGR of 4.02% from 2025 to 2034 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
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; 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 |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Recreational Cannabis Market Snapshot
Chapter 4. Global Recreational Cannabis Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: By Product Type Estimates & Trend Analysis
5.1. By Product Type, & Market Share, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 To 2034 for the following By Product Type:
5.2.1. Oils
5.2.2. Transdermal Patches
5.2.3. Tablets
5.2.4. Concentrates
5.2.5. Topical
5.2.6. Vape
5.2.7. Suppositories
5.2.8. Tinctures
5.2.9. Isolates
5.2.10. Flowers
5.2.11. Edibles
5.2.12. Capsules
5.2.13. Creams
5.2.14. Roll-Ons
5.2.15. Others
Chapter 6. Market Segmentation 2: By Compound Estimates & Trend Analysis
6.1. By Compound & Market Share, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 To 2034 for the following By Compound:
6.2.1. THC Dominant
6.2.2. CBD Dominant
6.2.3. Balanced THC and CBD
Chapter 7. Recreational Cannabis Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Recreational Cannabis Market revenue (US$ Million) estimates and forecasts By Product Type, 2021-2034
7.1.2. North America Recreational Cannabis Market revenue (US$ Million) estimates and forecasts By Compound, 2021-2034
7.1.3. North America Recreational Cannabis Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
7.2. Europe
7.2.1. Europe Recreational Cannabis Market revenue (US$ Million) By Product Type, 2021-2034
7.2.2. Europe Recreational Cannabis Market revenue (US$ Million) By Compound, 2021-2034
7.2.3. Europe Recreational Cannabis Market revenue (US$ Million) by country, 2021-2034
7.3. Asia Pacific
7.3.1. Asia Pacific Recreational Cannabis Market revenue (US$ Million) By Product Type, 2021-2034
7.3.2. Asia Pacific Recreational Cannabis Market revenue (US$ Million) By Compound, 2021-2034
7.3.3. Asia Pacific Recreational Cannabis Market revenue (US$ Million) by country, 2021-2034
7.4. Latin America
7.4.1. Latin America Recreational Cannabis Market revenue (US$ Million) By Product Type, (US$ Million) 2021-2034
7.4.2. Latin America Recreational Cannabis Market revenue (US$ Million) By Compound, (US$ Million) 2021-2034
7.4.3. Latin America Recreational Cannabis Market revenue (US$ Million) by country, 2021-2034
7.5. Middle East & Africa
7.5.1. Middle East & Africa Recreational Cannabis Market revenue (US$ Million) By Product Type, (US$ Million) 2021-2034
7.5.2. Middle East & Africa Recreational Cannabis Market revenue (US$ Million) By Compound, (US$ Million) 2021-2034
7.5.3. Middle East & Africa Recreational Cannabis Market revenue (US$ Million) by country, 2021-2034
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. AURORA CANNABIS INC.
8.2.2. Cannabis Science Inc.
8.2.3. Canopy Growth Corporation
8.2.4. Cresco Labs
8.2.5. INDIVA
8.2.6. Medical Marijuana, Inc.
8.2.7. Organigrams Holding Inc.
8.2.8. STENOCARE A/S
8.2.9. The Cronos Group
8.2.10. Trulieve
Recreational Cannabis Market By Product Type-
Recreational Cannabis Market By Compound-
Recreational Cannabis Market By Region-
North America
Europe
Asia Pacific
Latin America
Middle East & 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:
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:
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.
