Cannabinoid Biosynthesis Market Size

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. 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 of medical marijuana.

The growth of the market can be attributed to the increasing utilization of cannabinoids for medical purposes. Cannabinoids are highly consumed to treat various medical conditions such as, pain management, autoimmune disorders, Alzheimer’s diseases, glaucoma, seizures, HIV/AIDS, and others. The report published by UNAIDS in 2020 demonstrated the fact that about 37.7 million people in the global population were suffering from HIV.

In addition to these, factors that are believed to fuel the market growth of cannabinoid biosynthesis include the higher legal acceptance of cannabinoids in the world. In 2021, Uruguay, Canada, and a few US states has fully legalized cannabis for adult consumption. Moreover, Cannabis cultivation and personal use are now legal in Malta, the first nation in the EU to do so. Adults will be permitted to possess up to seven grams of cannabis and to have a maximum of four plants in their homes. Additionally, the higher sales of cannabis in the world are expected to boost the market growth. US and Canada are the most important market for the sale of cannabis for adult use, moreover, the use of cannabis is expected to grow   in the next 5 years, nig nations, including Israel, Germany, and Australia