Cannabinoid Biosynthesis Market Share

Asia Pacific industry is anticipated to hold largest revenue share by 2037. The growth of the market can be attributed majorly to the increasing cases of depression and anxiety that are rapidly expanding the use of medical marijuana. Based on a report released by the National Library of Medicine (NL) in 2021, the prevalence of depression was stated to be 59.2% in the region. Furthermore, the legalization of cannabis and initiatives by the government to boost its production are also expected to boost the market growth in the region. In India, Uttarakhand was the first state to legalize the commercial cultivation of cannabis. Moreover, the Uttarakhand government in association with the India Industrial Hemp Association introduced the project for its cultivation.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of cannabinoid biosynthesis is evaluated at USD 29.22 billion.

The cannabinoid biosynthesis market size was over USD 22.93 billion in 2024 and is projected to reach USD 159.67 billion by 2037, witnessing around 16.1% CAGR during the forecast period i.e., between 2025-2037. Increasing sales of cannabis-based products, rise in the partnership among the companies, higher legalization of cannabis use for adults, and rising use of cannabis for medical purposes will boost the market growth.

Asia Pacific industry is anticipated to hold largest revenue share by 2037, attributed to increasing cases of depression and anxiety that are rapidly expanding the use ofÂ medical marijuana.

The major players in the market are Amyris, Inc., Willow Bioscience Inc., Cronos Group, Zymergen Inc., Constellation Brands, Inc., Jazz Pharmaceuticals plc, Canopy Growth Corporation, InMed Pharmaceuticals Inc., Hyasynth Biologicals Inc., Renew Biopharma, Inc.

Cannabinoid Biosynthesis Market Share