Cannabinoids Market Size & Share 2022 to 2030
Market Size by Type (Cannabidiol, Cannabinol, Cannabigerol, Cannabidiolic Acid), by Product (CBD Isolate, CBD Oil), by Application (Pharmaceutical, Food & Beverages, Cosmetics) & Global Forecast.
Report ID: GMI5320
|
Published Date: September 2022
|
Report Format: PDF
Download Free PDF
Authors:
Monali Tayade, Jignesh Rawal
Cannabinoids Market Size
Cannabinoids Market size was worth more than USD 11.5 billion in 2021 and is expected to grow at a CAGR of more than 20% through 2030. Increasing demand for CBD products due to their health benefits will push the overall market growth.
The cannabinoids industry is expanding rapidly driven by the product’s incredible health benefits, including therapeutic capabilities and its use in veterinary medicines. The medicinal characteristics of Phytocannabinoids found in the cannabis plant in addition to the primary ingredient 9-Tetrahydrocannabinol (THC) have come to light recently; products such as cannabidiol (CBD), cannabigerol (CBG), and tetrahydrocannabivarin (THCV) are consequently receiving a lot of interest. Owing to the numerous uses of cannabinoids, the demand for personal care products such as body lotions, oils, and capsules has skyrocketed. Vaping items and their rising popularity among young people due to the latest trends have also contributed to the market revenue.
Cannabinoids Market Trends
The growing use of cannabinoids, including CBD-based products for medical ailments will accelerate the industry expansion. Several pharmaceutical firms are deploying cannabis to alleviate pain and diseases such as asthma. Primarily triggered by the implementation of the Farm Bill in the U.S., there has been an exponential growth in the cannabinoids market given the product’s ability to manage anxiety, seizures, muscle disorders, and Parkinson’s disease, among others.
Sales of fake and synthetic products may restrain the market size
The rising demand for cannabidiol products has made it possible for illegal manufacturers to develop similar fake goods devoid of cannabis extracts, which will have a negative effect on the cannabinoids market expansion. These synthetic products instead contain chemical compounds that produce similar effects comparable to those of cannabidiol or cannabinol while also having adverse effects on the body. For instance, In February 2020, more than 2,800 patients were hospitalized of which over 68 fatalities were recorded in the US alone, resulting from the adverse effects of e-cigarette, vaping, and use-associated lung injury (EVALI).
Cannabinoids Market Analysis
The cannabinoids market is segmented by type into cannabidiol (CBD), cannabinol (CBN), cannabigerol (CBG), and cannabidiolic Acid (CBDA). The CBD segment is further sub-segmented into product and application; including the product categories CBD oil and CBD isolate and the application sub-segments of cosmetics, food and drinks, and pharmaceuticals. The CBD oil product segment is further divided into CBD broad spectrum oil and CBD full spectrum oil.
The market share is anticipated to rise in the ensuing years owing to the increasing number of people using CBD oil to treat a variety of illnesses, including anxiety, nausea, pain, inflammation, and sleep disorders. Depending on the indication, CBD oil can be simply applied or eaten. Some studies even state that CBD oil may be useful in alleviating cancer-related symptoms and some side effects pertaining to cancer treatment, such as chronic pain and nausea. Cannabidiol (CBD) segment was valued at over USD 9 billion in 2021 and is anticipated to grow significantly during the forecast period.
Europe cannabinoids market is anticipated to cross USD 17 billion by 2030. Growing health consciousness among Europeans and increasing awareness of the health benefits linked with the use of cannabinoid products is leading to an increase in the number of market players in the region. Additionally, the number of government approvals for such products is also depicting an upsurge across the European economies, which is predicted to boost the market forecasts.
Cannabinoids Market Share
The major players across cannabinoids market include
Other leading companies are
These firms are dedicatedly working on novel product development and marketing tactics to enhance their market presence.
For example, EXMceuticals Inc., an emerging bio-sciences company that specializes in the production of distinctive cannabis formulations, teamed up with Global Cannabinoids in May 2021 to market hemp and cannabinoid-based goods. In order to import, research, refine, and export cannabinoids and cannabis-based goods, the partnership sought to increase EXM’s Portugal hub, and the companies were able to broaden their geographical reach and enhance commercial relationships.
Impact of COVID-19 Pandemic
The COVID-19 pandemic affected the production and manufacturing of cannabinoid-based products, including cannabidiol, cannabinol, cannabigerol and cannabidiolic acid. Panic buying situations in the early months of the pandemic were another factor that reduced product popularity, priority, and sales. However, many nations, including the US, Canada, Germany, Argentina, and Portugal saw the production and delivery of CBD as an important service and granted permission for businesses to continue production throughout the pandemic. To that effect, the COVID-19 pandemic has also had a favorable effect on the market expansion.
The cannabinoids market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2030 for the following segments:
Click here to Buy Section of this Report
By Type
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →