The global cannabis industry is far from being a new thing, although a vast majority of the world’s cannabis market remains unregulated. According to an 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 $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.”
Additionally, Fortune Business Insights has projected that, “the global cannabis market size is projected to grow from $57.18 billion in 2023 to $444.34 billion by 2030, at a CAGR of 34.03% during the forecast period.”
Fairfield Market Research recently conducted a market analysis focusing on the emerging global cannabis concentrates sector of the cannabis industry. Fairfield Market Research is a United Kingdom-based market research provider.
“Global cannabis concentrate market is poised for significant expansion, with revenue expected to rise from US$1.6 Bn in 2022 to an impressive US$2.4 Bn by 2030. This forecast represents a healthy CAGR of 6.3% from 2023 to 2030, signaling a bright future for the industry.” Fairfield Market Research stated in a press release.
Cannabis packaging is big business too. According to a recent analysis conducted by Coherent Market Insights, “the global cannabis packaging market was valued at US$ 2.64 Bn in 2023 and is expected to reach US$ 13.17 Bn by 2030, growing at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030.”
Research and Markets recently released a cannabis drinks market analysis in which it found that “the global market for Cannabis Beverages estimated at US$1.2 Billion in the year 2023, is projected to reach a revised size of US$3.8 Billion by 2030, growing at a CAGR of 15.6% over the analysis period 2023-2030.”
“Non-Alcoholic Cannabis Beverages, one of the segments analyzed in the report, is projected to record 16.1% CAGR and reach US$2.5 Billion by the end of the analysis period. Growth in the Alcoholic Cannabis Beverages segment is estimated at 14.6% CAGR for the next 8-year period.” Research and Markets stated in a press release.