Executive Summary
Azoth Analytics has released a research report titled "North America Cannabis Market (2023 Edition)" which provides a complete analysis of the North American Cannabis industry in terms of market segmentation By Derivative (CBD, THC, and Other Derivatives), By Source (Marijuana, and Hemp), By End Use (Medical, Recreational, and Therapeutic) for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.
The North America Cannabis market showcased growth at a CAGR of 10.20% during 2019-2022. The market was valued at USD 25.82 Billion in 2022 which is expected to reach USD 54.52 Billion in 2029. The cultivation of cannabis has become more sophisticated, with the advent of modern growing techniques and technologies. This has led to increased product quality and diversity, ranging from traditional flower products to concentrates, edibles, topicals, and more.
The North America Cannabis Market is expected to grow at a CAGR of 11.49% during the forecast period. E-commerce platforms and online delivery services have gained popularity, allowing consumers to conveniently purchase cannabis products. However, regulations and restrictions vary across different jurisdictions, impacting the availability and accessibility of these services. Moreover, the industry consists of various sectors, including cultivation, manufacturing, distribution, and retail. Licensed producers and dispensaries play a vital role in supplying cannabis products to consumers, both for medical and recreational purposes.
Additionally, research and development in the cannabis industry have been ongoing, focusing on refining cultivation techniques, exploring new medical applications, and developing alternative consumption methods. This continuous advancement contributes to the expansion and maturation of the North American cannabis market.
The implementation of innovative and diversified product offers serves to accommodate a wider range of consumers. The expansion and diversification of the cannabis market's client base can be achieved by the development of goods that cater to a wide range of demographics, encompassing both novice users and experienced consumers. The advent of innovative products has provided consumers with the opportunity to personalize and tailor their cannabis experience according to their preferences. The act of personalizing cannabis experiences, whether it be through the selection of certain strains, adjusting dose levels, or choosing different consuming methods, has been found to significantly boost user happiness and promote customer loyalty.
The development of high-quality concentrates, such as shatter, wax, and live resin, caters to experienced users seeking potent and flavorful options. Concentrates offer a premium experience for enthusiasts.
The decrease in the stigmatization of cannabis usage can be attributed to the increased level of social acceptance. Consequently, an increasing number of persons are receptive to regarding cannabis as a real and valid option for both medical and recreational applications. The cannabis customer base has experienced growth as a result of a society that is increasingly receptive. Individuals from various age cohorts, socio-cultural origins, and demographic profiles exhibit an increased inclination towards the exploration of cannabis-based products.
The increasing cultural acceptability of cannabis has had a significant impact on legislative reforms. As societal attitudes increasingly favor pro-cannabis legislation, governments have demonstrated a growing inclination towards the legalization and regulation of the cannabis business. Social acceptance has encouraged efforts to educate the public about cannabis. This includes information about responsible use, health effects, and the potential benefits of cannabis.
Scope of the Report
- The report analyses the Cannabis Market by Value (USD Billion).
- The report presents the country-wise number of users of Cannabis for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029 in North America.
- The report presents the analysis of the Cannabis Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
- The report analyses the Cannabis Market By derivatives (CBD, THC, and Other Derivatives).
- The report analyses the Cannabis Market By Source (Marijuana, and Hemp).
- The report analyses the Cannabis Market By End Use (Medical, Recreational, and Therapeutic).
- The report presents the country-wise penetration rate of Cannabis for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029 in North America.
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Types, by mode of operation & by end users.
- Also, the major opportunities, trends, drivers and challenges of the industry have been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include oCanopy Growth Corporation, Gw Pharmaceuticals Limited, Aurora cannabis inc., Coronos Group, Tilray, Sundial Growers, Medipharm Labs Corp., Curaleaf, Pure sunfarms corp., and Trulieve Cannabis Corp.
North America Cannabis Market (2023 Edition): Analysis By Users and Penetration, Derivatives (CBD, THC, Others), Source (Marijuana, Hemp), End Use, By Country: Market Insights and Forecast (2019-2029)
Table of Contents
1. Market Background
1.1 Scope and Product Outlook
1.2 Executive Summary
1.3 Research Methodology
2. Strategic Recommendations
3. Global Cannabis Market: Historic and Forecast
3.1 Global Cannabis Market: Market Value Assessment
4. North America Cannabis Market: Historic and Forecast (2019-2029)
4.1 Impact Analysis of Macro Economic Factors on the North American Cannabis Market
4.2 North America Cannabis Market: Ecosystem Analysis
4.2.1 Projected Growth in Global Medical Cannabis Patients Population (Millions)
4.2.2 Cannabis Market Consumer Spending Statistics
4.3 North America Cannabis Market: Dashboard
4.4 North America Cannabis Market: Market Value Assessment
4.5 North America Cannabis Market: User Statistics
4.6 End-use wise Penetration of Cannabis in North America
4.7 Impact of COVID-19 on North American Cannabis Market
4.8 North America Cannabis Market Segmentation: By Derivative
4.8.1 North America Cannabis Market: By Derivative Overview
4.8.2 North America Cannabis Market: By Derivative
4.8.3 North America Cannabis Market Size, By CBD, By Value, 2019H-2029F (USD Million & CAGR)
4.8.4 North America Cannabis Market Size, By THC, By Value, 2019H-2029F (USD Million & CAGR)
4.8.5 North America Cannabis Market Size, By Other Derivatives, By Value, 2019H-2029F (USD Million & CAGR)
4.9 North America Cannabis Market Segmentation: By End Use
4.9.1 North America Cannabis Market: By End Use Overview
4.9.2 North America Cannabis Market: By End Use
4.9.3 North America Cannabis Market Size, By Medical, By Value, 2019H-2029F (USD Million & CAGR)
4.9.4 North America Cannabis Market Size, By Recreational, By Value, 2019H-2029F (USD Million & CAGR)
4.9.5 North America Cannabis Market Size, By Therapeutic, By Value, 2019H-2029F (USD Million & CAGR)
4.10 North America Cannabis Market Segmentation: By Source
4.10.1 North America Cannabis Market: By Source Overview
4.10.2 North America Cannabis Market: By Source
4.10.3 North America Cannabis Market Size, By Marijuana, By Value, 2019H-2029F (USD Million & CAGR)
4.10.4 North America Cannabis Market Size, By Hemp, By Value, 2019H-2029F (USD Million & CAGR)
5. North America Cannabis Market: Country Analysis
5.1 Country Snapshot
5.2 North America Cannabis Market: By Country Overview
6. United States Cannabis Market: Market Value Assessment, 2019H-2029F (USD Million & CAGR)
6.1 United States Cannabis Market: Market Value Assessment
6.2 United States Cannabis Market: User Statistics
6.3 End-use wise Penetration of Cannabis in United States
6.4 United States Cannabis Market: Market Value Assessment
6.5 United States Cannabis Market, By Derivative Overview
6.6 United States Cannabis Market Segmentation: By Derivative
6.6.1 United States Cannabis Market Size, By CBD, By Value, 2019H-2029F (USD Million & CAGR)
6.6.2 United States Cannabis Market Size, By THC, By Value, 2019H-2029F (USD Million & CAGR)
6.6.3 United States Cannabis Market Size, By Other Derivatives, By Value, 2019H-2029F (USD Million & CAGR)
6.7 United States Cannabis Market Segmentation: By End Use
6.7.1 United States Cannabis Market, By End Use Overview
6.7.2 United States Cannabis Market: By End Use
6.7.3 United States Cannabis Market Size, By Medical, By Value, 2019H-2029F (USD Million & CAGR)
6.7.4 United States Cannabis Market Size, By Recreational, By Value, 2019H-2029F (USD Million & CAGR)
6.7.5 United States Cannabis Market Size, By Therapeutic, By Value, 2019H-2029F (USD Million & CAGR)
6.8 United States Cannabis Market Segmentation: By Source
6.8.1 United States Cannabis Market, By Source Overview
6.8.2 United States Cannabis Market: By Source
6.8.3 United States Cannabis Market Size, By Marijuana, By Value, 2019H-2029F (USD Million & CAGR)
6.8.4 United States Cannabis Market Size, By Hemp, By Value, 2019H-2029F (USD Million & CAGR)
7. Canada Cannabis Market: Market Value Assessment, 2019H-2029F (USD Million & CAGR)
7.1 Canada Cannabis Volume Assessment
7.2 Canada Cannabis Market: User Statistics
7.3 End-use Penetration of Cannabis in Canada
7.4 Canada Cannabis Market: Market Value Assessment
7.5 Canada Cannabis Market, By Derivative Overview
7.6 Canada Cannabis Market Segmentation: By Derivative
7.6.1 Canada Cannabis Market Size, By CBD, By Value, 2019H-2029F (USD Million & CAGR)
7.6.2 Canada Cannabis Market Size, By THC, By Value, 2019H-2029F (USD Million & CAGR)
7.6.3 Canada Cannabis Market Size, By Other Derivatives, By Value, 2019H-2029F (USD Million & CAGR)
7.7 Canada Cannabis Market Segmentation: By End Use
7.7.1 Canada Cannabis Market, By End Use Overview
7.7.2 Canada Cannabis Market: By End Use
7.7.3 Canada Cannabis Market Size, By Medical, By Value, 2019H-2029F (USD Million & CAGR)
7.7.4 Canada Cannabis Market Size, By Recreational, By Value, 2019H-2029F (USD Million & CAGR)
7.7.5 Canada Cannabis Market Size, By Therapeutic, By Value, 2019H-2029F (USD Million & CAGR)
7.8 Canada Cannabis Market Segmentation: By Source
7.8.1 Canada Cannabis Market, By Source Overview
7.8.2 Canada Cannabis Market: By Source
7.8.3 Canada Cannabis Market Size, By Marijuana, By Value, 2019H-2029F (USD Million & CAGR)
7.8.4 Canada Cannabis Market Size, By Hemp, By Value, 2019H-2029F (USD Million & CAGR)
8. Mexico Cannabis Market: Market Value Assessment, 2019H-2029F (USD Million & CAGR)
8.1 Mexico Cannabis Volume Assessment
8.2 Mexico Cannabis Market: User Statistics
8.3 End-use wise Penetration of Cannabis in Mexico
8.4 Mexico Cannabis Market: Market Value Assessment
8.5 Mexico Cannabis Market, By Derivative Overview
8.6 Mexico Cannabis Market Segmentation: By Derivative
8.6.1 Mexico Cannabis Market Size, By CBD, By Value, 2019H-2029F (USD Million & CAGR)
8.6.2 Mexico Cannabis Market Size, By THC, By Value, 2019H-2029F (USD Million & CAGR)
8.6.3 Mexico Cannabis Market Size, By Other Derivatives, By Value, 2019H-2029F (USD Million & CAGR)
8.7 Mexico Cannabis Market Segmentation: By End Use
8.7.1 Mexico Cannabis Market, By End Use Overview
8.7.2 Mexico Cannabis Market: By End Use
8.7.3 Mexico Cannabis Market Size, By Medical, By Value, 2019H-2029F (USD Million & CAGR)
8.7.4 Mexico Cannabis Market Size, By Recreational, By Value, 2019H-2029F (USD Million & CAGR)
8.7.5 Mexico Cannabis Market Size, By Therapeutic, By Value, 2019H-2029F (USD Million & CAGR)
8.8 Mexico Cannabis Market Segmentation: By Source
8.8.1 Mexico Cannabis Market, By Source Overview
8.8.2 Mexico Cannabis Market: By Source
8.8.3 Mexico Cannabis Market Size, By Marijuana, By Value, 2019H-2029F (USD Million & CAGR)
8.8.4 Mexico Cannabis Market Size, By Hemp, By Value, 2019H-2029F (USD Million & CAGR)
9. Market Dynamics
9.1 Impact Assessment of Market Dynamics on the North American Cannabis Market
9.2 Drivers
9.3 Restraints
9.4 Trends
10. Industry Ecosystem Analysis
10.1 Porter Analysis
11. Competitive Positioning
11.1 Companies Product Positioning
11.2 Market Position Matrix
11.3 Market Share Analysis of the North America Cannabis Market
11.4 Company Profiles
11.4.1 Canopy Growth
11.4.2 GW Pharmaceuticals
11.4.3 Aurora Cannabis
11.4.4 Cronos Group
11.4.5 Tilray
11.4.6 Sundial Growers
11.4.7 MediPharm Labs
11.4.8 Curaleaf
11.4.9 Pure Sunfarm
11.4.10 Trulieve Cannabis Corporation
List of Figures
Figure 1: Global Cannabis Market Size, By Value, 2019-2029 (USD Million)
Figure 2: Projected Growth in Global Medical Cannabis Patients Population (Millions)
Figure 3: Worldwide Countries with the Highest Consumer Spending on High-THC Cannabis in 2020 (USD Billions)
Figure 4: Average Price per Gram for High-THC Cannabis Flower, By Region (USD)
Figure 5: North America Cannabis Market Size, By Value, 2019-2022 (USD Million)
Figure 6: North America Cannabis Market Size, By Value, 2023-2029 (USD Million)
Figure 7: North America Cannabis Market Share, By Derivative, 2022 (%)
Figure 8: North America Cannabis Market, By Number of Users, 2019-2029 (in Millions)
Figure 9: Penetration Rate of Cannabis, By End Use in North America (in %)
Figure 10: North America Cannabis Market Size, By CBD, By Value, 2019H-2022A (USD Million)
Figure 11: North America Cannabis Market Size, By CBD, By Value, 2023E-2029F (USD Million)
Figure 12: North America Cannabis Market Size, By THC, By Value, 2019H-2022A (USD Million)
Figure 13: North America Cannabis Market Size, By THC, By Value, 2023E-2029F (USD Million)
Figure 14: North America Cannabis Market Size, By Other Derivatives, By Value, 2019H-2022A (USD Million)
Figure 15: North America Cannabis Market Size, By Other Derivatives, By Value, 2023E-2029F (USD Million)
Figure 16: North America Cannabis Market Size, By Medical, By Value, 2019H-2022A (USD Million)
Figure 17: North America Cannabis Market Size, By Medical, By Value, 2023E-2029F (USD Million)
Figure 18: North America Cannabis Market Size, By Recreational, By Value, 2019H-2022A (USD Million)
Figure 19: North America Cannabis Market Size, By Recreational, By Value, 2023E-2029F (USD Million)
Figure 20: North America Cannabis Market Size, By Therapeutic, By Value, 2019H-2022A (USD Million)
Figure 21: North America Cannabis Market Size, By Therapeutic, By Value, 2023E-2029F (USD Million)
Figure 22: North America Cannabis Market Size, By Marijuana, By Value, 2019H-2022A (USD Million)
Figure 23: North America Cannabis Market Size, By Marijuana, By Value, 2023E-2029F (USD Million)
Figure 24: North America Cannabis Market Size, By Hemp, By Value, 2019H-2022A (USD Million)
Figure 25: North America Cannabis Market Size, By Hemp, By Value, 2023E-2029F (USD Million)
Figure 26: United States Cannabis Market Size, By Value, 2019H-2023E (USD Million)
Figure 27: United States Cannabis Market Size, By Value, 2024F-2029F (USD Million)
Figure 28: United States Cannabis Market, By Number of Users, 2019-2029 (in Millions)
Figure 29: Penetration Rate of Cannabis, By End Use in United States (in USD)
Figure 30: United States Cannabis Market Size, By CBD, By Value, 2019H-2029F (USD Million & CAGR)
Figure 31: United States Cannabis Market Size, By THC, By Value, 2019H-2029F (USD Million & CAGR)
Figure 32: United States Cannabis Market Size, By Other Derivatives, By Value, 2019H-2029F (USD Million & CAGR)
Figure 33: United States Cannabis Market Size, By Medical, By Value, 2019H-2029F (USD Million & CAGR)
Figure 34: United States Cannabis Market Size, By Recreational, By Value, 2019H-2029F (USD Million & CAGR)
Figure 35: United States Cannabis Market Size, By Therapeutic, By Value, 2019H-2029F (USD Million & CAGR)
Figure 36: United States Cannabis Market Size, By Marijuana, By Value, 2019H-2029F (USD Million & CAGR)
Figure 37: United States Cannabis Market Size, By Hemp, By Value, 2019H-2029F (USD Million & CAGR)
Figure 38: Canada Cannabis Market Size, By Value, 2019H-2023E (USD Million)
Figure 39: Canada Cannabis Market Size, By Value, 2024F-2029F (USD Million)
Figure 40: Canada Cannabis Market, By Number of Users, 2019-2029 (in Millions)
Figure 41: Penetration Rate of Cannabis, By End Use in Canada (in USD)
Figure 42: Canada Cannabis Market Size, By CBD, By Value, 2019H-2029F (USD Million & CAGR)
Figure 43: Canada Cannabis Market Size, By THC, By Value, 2019H-2029F (USD Million & CAGR)
Figure 44: Canada Cannabis Market Size, By Other Derivatives, By Value, 2019H-2029F (USD Million & CAGR)
Figure 45: Canada Cannabis Market Size, By Medical, By Value, 2019H-2029F (USD Million & CAGR)
Figure 46: Canada Cannabis Market Size, By Recreational, By Value, 2019H-2029F (USD Million & CAGR)
Figure 47: Canada Cannabis Market Size, By Therapeutic, By Value, 2019H-2029F (USD Million & CAGR)
Figure 48: Canada Cannabis Market Size, By Marijuana, By Value, 2019H-2029F (USD Million & CAGR)
Figure 49: Canada Cannabis Market Size, By Hemp, By Value, 2019H-2029F (USD Million & CAGR)
Figure 50: Mexico Cannabis Market Size, By Value, 2019H-2023E (USD Million)
Figure 51: Mexico Cannabis Market Size, By Value, 2024F-2029F (USD Million)
Figure 52: Mexico Cannabis Market, By Number of Users, 2019-2029 (in Millions)
Figure 53: Penetration Rate of Cannabis, By End Use in Mexico (in USD)
Figure 54: Mexico Cannabis Market Size, By CBD, By Value, 2019H-2029F (USD Million & CAGR)
Figure 55: Mexico Cannabis Market Size, By THC, By Value, 2019H-2029F (USD Million & CAGR)
Figure 56: Mexico Cannabis Market Size, By Other Derivatives, By Value, 2019H-2029F (USD Million & CAGR)
Figure 57: Mexico Cannabis Market Size, By Medical, By Value, 2019H-2029F (USD Million & CAGR)
Figure 58: Mexico Cannabis Market Size, By Recreational, By Value, 2019H-2029F (USD Million & CAGR)
Figure 59: Mexico Cannabis Market Size, By Therapeutic, By Value, 2019H-2029F (USD Million & CAGR)
Figure 60: Mexico Cannabis Market Size, By Marijuana, By Value, 2019H-2029F (USD Million & CAGR)
Figure 61: Mexico Cannabis Market Size, By Hemp, By Value, 2019H-2029F (USD Million & CAGR)
Figure 62: North America Impact of Drivers and Restraints
Figure 63: Market Share of Prominent Companies of Cannabis Market, 2022 (%)
Figure 64: Canopy Revenue, 2020-2022 (USD Million)
Figure 65: Canopy Revenue, By Business Segments, 2022 (%)
Figure 66: Canopy Revenue, By Geographical Segments, 2022 (%)
Figure 67: Aurora Revenue, 2020-2022 (USD Million)
Figure 68: Aurora Revenue, By Business Segments, 2022 (%)
Figure 69: Aurora Revenue, By Geography Segments, 2022 (%)
Figure 70: Coronos Revenue, 2020-2022 (USD Million)
Figure 71: Coronos Revenue, By Geography Segments, 2021 (%)
Figure 72: Coronos Revenue, By Geography Segments, 2020 (%)
Figure 73: Tilray Revenue, 2020-2022 (USD Million)
Figure 74: Tilray Revenue, By Business Segments, 2022 (%)
Figure 75: Tilray Revenue, By Geography Segments, 2022 (%)
Figure 76: Sundial Revenue, 2020-2022 (USD Million)
Figure 77: Sundial Revenue, By Business Segments, 2022 (%)
Figure 78: Sundial Revenue, By Business Segments, 2021 (%)
Figure 79: Medipharm Labs Revenue, 2020-2022 (USD Million)
Figure 80: Medipharm Labs Revenue, By Geographic Segments, 2022 (%)
Figure 81: Medipharm Labs Revenue, By Geographic Segments, 2021 (%)
Figure 82: Curaleaf Revenue, 2020-2022 (USD Million)
Figure 83: Curaleaf Revenue, By Business Segments, 2022 (%)
Figure 84: Curaleaf Revenue, By Business Segments, 2021 (%)
Figure 85: Trulieve Revenue, 2020-2022 (USD Million)
Figure 86: Trulieve Revenue, By Business Segments, 2022 (%)
Figure 87: Trulieve Revenue, By Business Segments, 2021 (%)
List of Tables
Table A1: North America Impact of Macro Economic Factors, By Country
Table A2: Canopy Key Company Financials, 2020-2022
Table A3: Aurora Key Company Financials, 2020-2022
Table A4: Coronos Key Company Financials, 2020-2022
Table A5: Tilray Key Company Financials, 2020-2022
Table A6: Sundial Key Company Financials, 2020-2022
Table A7: Medipharm Labs Key Company Financials, 2020-2022
Table A8: Curaleaf Key Company Financials, 2020-2022
Table A9: Trulieve Key Company Financials, 2020-2022
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