Cannabis Market Analysis

Type (Flower/Buds, Concentrates)

Flower/buds segment is set to dominate around 55% cannabis market share by the end of 2037. The segment growth can be attributed to the rising number of vapers due to enjoyable flavoring in products such as cannabis.

For instance, there were more than 10 million vapers throughout the globe in 2011, and this figure increased to an estimated 86 persons globally in 2023.

Vaping is one of the two ways to inhale cannabis flowers since it has a higher potency than smoking them and is considered a cheap and safe way for senior citizens to take their medication.

To consume cannabis flowers the plant's terpenes and cannabinoids are released into a breathable vapor by slowly heating the dried buds which are then inhaled by using a vaporizer (or vape) as they are easy to use, less damaging to the lungs, and guarantee that the prescription has the most therapeutic effect possible.

Application (Medical, Recreational, Industrial Hemp)

In the coming years, the recreational segment is expected to register the highest CAGR due to an increase in the young population. More than 23% of people on the planet are under the age of 15, and around 9% are older than 65.

Researchers discovered that youth, between the ages of 12 and 20, had a higher likelihood of using cannabis recreationally, and as a coping mechanism.

Cannabis is a recreational drug that is psychotropic and alters the mind as it typically contains both THC and CBD which seems to reduce anxiety, while at higher concentrations, it seems to increase anxiety.

Component (THC- dominant, Balanced THC and CBD, CBD dominant)

By the end of 2037, the THC-dominant in the cannabis market segment is predicted to have a significant revenue share. The growing prevalence of chronic pain is the primary driver of the segment's growth. Over 15% of adults worldwide are thought to have pain, and more than 5% receive a new diagnosis of chronic pain each year.

One of the numerous cannabinoids found in the cannabis plant is THC, which is used more often to treat pain and sleep disorders. When pain is severe, THC-dominant therapy is more likely to be advised because it produces a higher level of intoxication and is rated more favorably by patients than CBD-dominant concentrate.

Our in-depth analysis of the market includes the following segments: