Cannabino!ds Market Analysis: Size, Growth, and Forecast 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Cannabino!ds Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $9.87 billion In 2028 At A CAGR Of 5.7% :

The cannabino!ds market size has grown exponentially in recent years. It will grow from $33.1 billion in 2023 to $39.86 billion in 2024 at a compound annual growth rate (CAGR) of 20.4%. The growth in the historic period can be attributed to medical cannab!s legalization, increasing acceptance of cannab!s, research and development, regulatory changes, growing awareness of cannabino!d benefits, investments in cannab!s industry, consumer trends toward natural products.

The cannabino!ds market size is expected to see exponential growth in the next few years. It will grow to $84.38 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to wider legalization and decriminalization, research advancements, diverse product offerings, international market expansion, public health awareness initiatives. Major trends in the forecast period include increasing acceptance and destigmatization, diversification of product offerings, innovation in delivery methods, quality and safety standards, social equity and inclusivity initiatives.

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Cannabino!ds Market Major Segments
The cannabino!ds market covered in this report is segmented -

1) By Product Type: Cannabidio!l, Tetrahydrocannabinol, Cannabinol, Other Product Types
2) By Distribution: Hospital Pharmacies, Retail Pharmacies, Online Stores
3) By Application: Medical, Recreational, Industrial Hemp

Key Driver - Cannabino!ds Market Surges Amidst Rising Prevalence Of Chronic Diseases

The rising prevalence of chronic diseases is expected to propel the cannabino!d market. Chronic diseases refer to illnesses that last a year or longer and require ongoing medical attention. The effectiveness of cannabino!ds, such as smoked marijuana, oromucosal extracts of cannab!s-based medication, nabilone, dronabinol, and a new analogue, in the treatment of chronic noncancer pain, was examined in a systematic review of randomized controlled trials. For instance, according to the McKinsey report, it is anticipated that the US illness burden will rise by almost 20% through 2040. Furthermore, according to the Center for Disease Control and Prevention, six in ten Americans live with at least one chronic disease. As a result, the rising prevalence of chronic diseases is driving the growth of the cannabino!d market.

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Prominent Trend - Innovative Cannab!s-Based Cosmetics Revolutionize Cannabino!ds Market Competition

Major companies operating in the cannabino!ds market are focused on introducing advanced cannab!s-based cosmetic solutions, such as CBG and CB*D rescue cream, to gain a competitive edge in the market. Cannab!s-based cosmetic solutions are cosmetic products that contain cannab!s or its derivatives, such as CB*D or CBG, as an active ingredient. These products are used in the cosmetic industry for various purposes, such as skin moisturizing, anti-aging, and anti-inflammatory effects. For instance, in November 2022, British Cannab!s, a UK-based producer of cannab!s, launched the Synergy CBG and CB*D Rescue Cream. It is the UK's first cannab!s cosmetic to undertake clinical trials, and it is now all the better from having an extra-active ingredient, CBG, in its formula. Together with two natural, legal cannab!s plant extracts, cannabidio!l (CB*D) and cannabigerol (CBG), Synergy CB*D Rescue Cream is a gentle, natural cream that makes up one of the most comprehensive skin care products on the market.

Cannabino!ds Market Players
Major companies operating in the cannabino!ds market report are The Supreme Cannab!s Company Inc., Elixinol Global Limited, GW Pharmaceuticals PLC., Tilray Inc., Aurora Cannab!s Inc., Innovative Ind Props, Curaleaf Holdings Inc., Green Thumb Industries, Verano Holdings, Trulieve Cannab!s Corp., Cresco Labs Inc., Cronos Group, TerrAscend Corp., Canopy Growth Corp., Sundial Growers Inc., Decibel Cannab!s Company, Auxly Cannab!s Group, Red White & Bloom Brands, BZAM Ltd, Delta 9 Cannab!s Inc., Mylan N.V., Westleaf Cannab!s Inc., GrowGeneration, The Scotts Miracle-Gro Company, Jazz Pharmaceuticals plc, Aphria Inc., Organigram Inc., Alkem labs, MediPharm Labs Corp., The Valens GroWorks Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the cannabino!ds market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cannabino!ds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cannabino!ds Market Report Structure
3. Cannabino!ds Market Trends And Strategies
4. Cannabino!ds Market - Macro Economic Scenario
5. Cannabino!ds Market Size And Growth
…..
27. Cannabino!ds Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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