- Cannabis products, including buds, oils, tinctures, and edibles, are playing a transformative role across industries such as pharmaceuticals, wellness, personal care, and food & beverage, due to their medicinal and therapeutic properties
- The rapid rise in demand is primarily supported by the increased acceptance of cannabis-based treatments, advancements in extraction and formulation technologies, and shifting consumer perception toward plant-based, holistic health solutions
- Furthermore, the evolution of regulatory frameworks, especially in North America and Europe, is enabling market players to introduce innovative cannabis offerings, thereby fueling competitive growth and market diversification
- North America dominates the global Cannabis market with a revenue share of 69.57% in 2024. This dominance is driven by widespread legalization, strong consumer acceptance, and a well-established recreational and medicinal Cannabis industry
- Asia-Pacific market is expected to grow at the fastest CAGR of 48.87% from 2025 to 2032, thanks to rising disposable incomes, urbanization, and increased adoption of plant-based diets in key markets such as China, India, and Japan
- The Buds segment held the largest market revenue share of 52.1% in 2024, driven by its widespread usage in both medical and recreational applications. Buds are preferred by traditional consumers for smoking, vaping, and DIY extraction due to their versatility and higher cannabinoid content
