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The global recreational cannabis market is expected to grow from USD 20 billion in 2022 to USD 123.83 billion by 2032, at a CAGR of 20% from 2023-2032. The rising awareness about the medicinal benefits of cannabis will augment the growth of the global recreational cannabis market.
Cannabis, a psychoactive substance derived from the cannabis plant, is sometimes called marijuana. It is native to Central or South Asia. It has been used in traditional remedies for thousands of years. It is also used as a narcotic for entheogenic and recreational purposes. Cannabis is also called weed, herb, pot, grass, and ganja in different slang. Cannabis sativa flowers have a greenish-grey combination. The stems, leaves, flowers, and stems of the cannabis plant are shredded, and then smoked dry, given its high potency. It can be consumed as a blunt, pipe or bong, or cigarette (joint). Cannabis can be used for pleasure as well as for medical purposes. Recreational purposes use THC-dominant cannabis, which makes the user feel comfortable and sleepy. Medicinal uses of cannabis are far-ranging, from treating certain uncommon forms of epilepsy to curing nausea and vomiting brought on by cancer chemotherapy. It also helps regain lost appetite and can be used during weight loss. The anti-inflammatory properties of cannabis make it highly effective in treating pain. It also helps in regulating sleep.
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October 2022 – Germany's coalition government has approved adult recreational cannabis use. One could own up to 30g (1oz) for personal use. It would be sold in pharmacies and authorized stores. The measure still needs to get through parliament and be approved by the European Commission. According to health minister Karl Lauterbach, the initiative might become law in 2024. Only Malta has legalized marijuana for recreational use in the EU. The German proposal would permit adults to grow three cannabis plants at home. Cannabis for therapeutic purposes has been legalized in several nations. Cannabis use for recreational purposes is now legal in Canada and Uruguay.
The growing awareness and acceptance of recreational cannabis in medical settings – The scientific and medical communities have been involved in testing the use of recreational cannabis for use in medicine. Several studies and trials have shown that these substances have anti-inflammatory properties. They can be used to reduce pain, increase appetite and manage mental conditions. Substantial studies have facilitated a limited, controlled, regulated and monitored use of recreational cannabis in some countries. Some countries have legalized its use for medicinal and recreational purposes through authorized dispensaries. It can manage pain in arthritis, fibromyalgia and endometriosis patients. Its anti-inflammatory properties successfully offer relief to patients suffering from Crohn’s disease and irritable bowel syndrome. Anxiety, epilepsy, Parkinson’s disease and post-traumatic stress disorder can also be managed with recreational cannabis. It also helps with sleep disorders. More research has concluded its effective use for chemotherapeutic side effects, including vomiting, weight loss, and nausea. The growing awareness and acceptance of recreational cannabis in medicine and the increasing research exploring further applications will drive the market's growth.
Recreational cannabis is illegal in many countries – While the low-dosage and regulated use of recreational cannabis effectively address a range of health issues, there is growing concerned about its misuse by healthy individuals, especially the youth. The known short and long-term side effects are well-established facts which discourage several nations from legalizing the substance, given the high risk of its undesirable use. Anxiety, paranoia, psychotic disorders, impeding adolescent growth, and control and coordination of the body are a few effects of unregulated cannabis consumption. These negative effects cause personal and national losses in terms of healthy lives and the economy. The evidence for the use of recreational cannabis is still lower than against it, given the lack of research facilitated by tighter regulatory controls on the recreational drug market. Therefore, the ban or illegal status of recreational cannabis in several countries worldwide will limit the market's growth.
The rising production of cannabis-infused foods and beverages – The rising acceptance of recreational cannabis, given its medicinal benefits, has opened up new opportunities for the food and beverage industry. The market players in the food and beverage industry are taking advantage of regulations legalizing cannabis to innovate cannabis-infused food and beverages. They are experimenting with cereals, candy bars, chocolates, baked goods, ice cream, juices and other beverages. The rising popularity of these products in the population and the increasing per capita income have contributed to the growing demand for cannabis-infused food and beverages. The ease, convenience and choice offered by the food and beverages industry for the consumption of cannabis, unlike the powder or dry grass form, will offer lucrative market opportunities for global recreational cannabis to grow. The development and integration of new flavours will also offer significant growth to the market. Therefore, the rising production of cannabis-infused foods and beverages will propel the global recreational cannabis market.
The rising concerns about substance abuse – The rising instances of substance abuse and deaths related to overdose have increased concerns about the use of recreational drugs. Recreational cannabis has no documented adverse effects, such as death. However, its prolonged use and high dosage consumption can cause irreversible damage to the user's body. The USA is witnessing a growing menace of drug smuggling and subsequent deaths of teenagers and young adults due to overdoses from recreational drugs. The general clubbing of drugs like Methamphetamine and cannabis together, given the lack of awareness or negligence in the general public, has made a significant portion of the population sceptical about recreational cannabis and its legalized use. Therefore, the rising concerns about substance abuse will challenge the market's growth.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest global recreational cannabis market, with a 43% market revenue share in 2022. Several states in the US have legalized recreational cannabis for use in medicine and recreational activities. The move was facilitated after documented studies showing the positive effects of recreational cannabis in managing the pain, sleep and appetite of patients suffering from such conditions. The powerful lobby of cannabis manufacturers combined with the medical professionals speaking in favour of recreational cannabis has accorded the necessary push for many other states or countries in the region to legalize their use for medicinal purposes. The increasing prevalence of mental disorders, like anxiety, PTSD, chronic pain conditions like migraine and sleep disorders in the region has facilitated the use of recreational cannabis for managing them, given its proven effectiveness in managing pain and regulating sleep. The growing awareness and acceptance of recreational cannabis will also propel the region's growth. The presence of a large number of producers will also augment the market's growth. Technological advancements, product innovations and research and development have increased the use of cannabis in foods and beverages, which will propel the regional market’s development.
North America Region Recreational Cannabis Market Share in 2022 - 43%
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The product type segment is divided into oils, transdermal patches, tablets, concentrates, topical, vape, suppositories, tinctures, isolates, flowers, edibles, capsules, creams, roll-ons and others. The edibles segment dominated the market with a market share of around 25% in 2022. As the name suggests, edibles are foods and beverages infused with recreational cannabis. These are legalized in several countries. The increasing production of edibles and the growing innovation with new flavours and products will propel the segment's demand. These edibles promote weight control, lessen anxiety, stop seizures, and ease pain. These edibles are primarily created with decarboxylated cannabinoids from cannabis. The edibles also promote heightened sensory perception, relaxation and euphoria, which augments its increasing demand in the market. Baked Goods, Brownies, beverages, mints & Candies are a few examples. Edibles' effects last longer and can be consumed covertly, driving their popularity in the market.
The compound is divided into THC dominant, CBD dominant and balanced THC and CBD. The CBD-dominant segment dominated the market with a market share of around 43% in 2022. Cannabis contains a substance called cannabidiol (CBD). CBD can be made from non-hemp plants or hemp plants. CBD improves and facilitates all the medicinal value of cannabis and reduces the psychotic effects which are witnessed in THC-dominant cannabis. CBD's very low to no neuro effects make their social acceptance and legalization easier than THC-dominant cannabis. CDB-dominant cannabis can reduce inflammation, pain, and migraine, regulate sleep and manage mental disorders.
The application is divided into chronic pain, cancer, mental disorder, sleep management and others. The chronic pain segment dominated the market with a market share of around 38% in 2022. Chronic pain is defined as pain that lasts more than 12 weeks despite medication or treatment. An operation, an accident, a disorder, or any of these things could cause discomfort. After an injury or operation, most people have pain relief and resume their normal lives. However, there are instances where the pain persists for a longer period or manifests itself unexpectedly without a history of an injury or surgery. Cannabis is an effective treatment for chronic pain with controllable side effects, given its anti-inflammatory properties that relieve patients. The rise of these divisions will be fuelled by the rising incidence of chronic pain, the open market's accessibility to cannabis for pain management, and the rising social acceptance of cannabis.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 20 Billion |
| Market size value in 2032 | USD 123.83 Billion |
| CAGR (2023 to 2032) | 20% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Regional Segments | The regions examined for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. |
| Segments | The research segment is based on product type, compound and application. |
As per The Brainy Insights, the size of the global recreational cannabis market was valued at USD 20 billion in 2022 to USD 123.83 billion by 2032.
Global recreational cannabis market is growing at a CAGR of 20% during the forecast period 2023-2032.
The market's growth will be influenced by the growing awareness and acceptance of recreational cannabis in medical settings.
The recreational cannabis is illegal in many countries and that could hamper the market growth.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Product Type
4.3.2. Market Attractiveness Analysis by Compound
4.3.3. Market Attractiveness Analysis by Application
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. The growing awareness and acceptance of recreational cannabis in medical settings
5.3. Restraints
5.3.1. The recreational cannabis is illegal in many countries
5.4. Opportunities
5.4.1. The rising production of cannabis infused foods and beverages
5.5. Challenges
5.5.1. The rising concerns about substance abuse
6. Global Recreational Cannabis Market Analysis and Forecast, By Product Type
6.1. Segment Overview
6.2. Oils
6.3. Transdermal Patches
6.4. Tablets
6.5. Concentrates
6.6. Topical
6.7. Vape
6.8. Suppositories
6.9. Tinctures
6.10. Isolates
6.11. Flowers
6.12. Edibles
6.13. Capsules
6.14. Creams
6.15. Roll-Ons
6.16. Others
7. Global Recreational Cannabis Market Analysis and Forecast, By Compound
7.1. Segment Overview
7.2. THC Dominant
7.3. CBD Dominant
7.4. Balanced THC and CBD
8. Global Recreational Cannabis Market Analysis and Forecast, By Application
8.1. Segment Overview
8.2. Chronic Pain
8.3. Cancer
8.4. Mental Disorder
8.5. Sleep Management
8.6. Others
9. Global Recreational Cannabis Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Recreational Cannabis Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Recreational Cannabis Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. AURORA CANNABIS INC.
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Cannabis Science Inc.
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Canopy Growth Corporation
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Cresco Labs
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. INDIVA
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Medical Marijuana, Inc.
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Organigrams Holding Inc.
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. STENOCARE A/S
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. The Cronos Group
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Trulieve
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
List of Table
1. Global Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
2. Global Oils Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
3. Global Transdermal Patches Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
4. Global Tablets Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
5. Global Concentrates Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
6. Global Topical Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
7. Global Vape Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
8. Global Suppositories Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
9. Global Tinctures Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
10. Global Isolates Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
11. Global Flowers Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
12. Global Edibles Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
13. Global Capsules Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
14. Global Creams Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
15. lobal Roll-Ons Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
16. Global Others Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
17. Global Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
18. Global THC Dominant Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
19. Global CBD Dominant Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
20. Global Balanced THC and CBD Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
21. Global Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
22. Global Chronic Pain Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
23. Global Cancer Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
24. Global Mental Disorder Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
25. Global Sleep Management Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
26. Global Others Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
27. Global Recreational Cannabis Market, By Region, 2019-2032 (USD Billion)
28. North America Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
29. North America Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
30. North America Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
31. U.S. Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
32. U.S. Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
33. U.S. Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
34. Canada Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
35. Canada Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
36. Canada Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
37. Mexico Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
38. Mexico Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
39. Mexico Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
40. Europe Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
41. Europe Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
42. Europe Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
43. Germany Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
44. Germany Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
45. Germany Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
46. France Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
47. France Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
48. France Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
49. U.K. Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
50. U.K. Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
51. U.K. Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
52. Italy Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
53. Italy Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
54. Italy Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
55. Spain Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
56. Spain Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
57. Spain Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
58. Asia Pacific Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
59. Asia Pacific Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
60. Asia Pacific Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
61. Japan Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
62. Japan Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
63. Japan Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
64. China Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
65. China Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
66. China Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
67. India Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
68. India Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
69. India Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
70. South America Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
71. South America Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
72. South America Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
73. Brazil Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
74. Brazil Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
75. Brazil Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
76. Middle East and Africa Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
77. Middle East and Africa Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
78. Middle East and Africa Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
79. UAE Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
80. UAE Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
81. UAE Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
82. South Africa Recreational Cannabis Market, By Product Type, 2019-2032 (USD Billion)
83. South Africa Recreational Cannabis Market, By Compound, 2019-2032 (USD Billion)
84. South Africa Recreational Cannabis Market, By Application, 2019-2032 (USD Billion)
List of Figures
1. Global Recreational Cannabis Market Segmentation
2. Recreational Cannabis Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Recreational Cannabis Market Attractiveness Analysis by Product Type
9. Global Recreational Cannabis Market Attractiveness Analysis by Compound
10. Global Recreational Cannabis Market Attractiveness Analysis by Application
11. Global Recreational Cannabis Market Attractiveness Analysis by Region
12. Global Recreational Cannabis Market: Dynamics
13. Global Recreational Cannabis Market Share by Product Type (2022 & 2032)
14. Global Recreational Cannabis Market Share by Compound (2022 & 2032)
15. Global Recreational Cannabis Market Share by Application (2022 & 2032)
16. Global Recreational Cannabis Market Share by Regions (2022 & 2032)
17. Global Recreational Cannabis Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global recreational cannabis market based on below mentioned segments:
Global Recreational Cannabis Market by Product Type:
Global Recreational Cannabis Market by Compound:
Global Recreational Cannabis Market by Application:
Global Recreational Cannabis Market by Region:
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