Cannabis Market Size

Cannabis Market size was over USD 14 Billion in 2023 and is expected to cross USD 98.85 Billion by the end of 2036, growing at more than 23% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of cannabis is evaluated at USD 20.5 Billion.

This market expansion is encouraged by the growing consumption of drugs across the globe. The last 30 years have seen a steady rise in the use of cannabis since numerous nations and states have taken steps to decriminalize and even fully legalize these drugs.

As per the World Health Organization (WHO), approximately 147 million individuals, or 2.5% of the global population, use cannabis annually, compared to 0.2% who use cocaine and 0.2% who use opiates.