Just because a cannabis product involves a capsuled delivery method does not necessary equate to it being a pharmaceutical product, just as every cannabis pharmaceutical product doesn’t automatically involve capsules.
Cannabis pharmaceutical products can come in oral sprays and liquids. However, there is clearly a lot of overlap between the cannabis capsule and pharmaceutical sectors, and cannabis capsule products can contain a wide range of cannabinoids beyond just THC and CBD.
Research and Markets recently conducted a market analysis focusing on the global cannabis capsules sector. The researchers determined that the sector will “grow from $31.96 billion in 2023 to $38.75 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%.”
“The cannabis capsule market size is expected to see rapid growth in the next few years. It will grow to $79.2 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%.” the researchers also stated in a press release.
According to a separate analysis by New Frontier Data, cannabis consumers around the globe “spent an estimated $415 billion on high-THC cannabis in 2020” and that figure is expected to increase to to $496 billion by 2025.
“Much of the world has not yet legalized cannabis, and nearly all the demand resides in illicit or unregulated markets. In 2020, 94% of high-THC cannabis spend was in unregulated channels.” New Frontier Data states.
New Frontier Data has determined that sales of high-THC cannabis products through legal regulated outlets totaled $23.7 billion in 2020 and that legal sales are projected to reach $51 billion by 2025. New Frontier Data estimates that legal cannabis sales of adult-use cannabis “are projected to be double those of legal medical sales by 2025, despite the higher number of medical markets globally.”