Israel had the highest prevalence of cannabis use worldwide in 2020. Approximately ** percent of the adult population had consumed cannabis during that year. This is significantly more than in any other country. In the United States (U.S.), the prevalence of cannabis use is about ** percent. Cannabis around the world In Europe, Czechia had the highest prevalence of cannabis use among adults, with **** percent of their adult population consuming cannabis. However, while many Europeans consume cannabis, only a very small share of the legal cannabis sales worldwide are generated in Europe. North America has by far the largest share of legal cannabis sales, accounting for nearly the entire market. Nonetheless, unlike in Canada, where cannabis has been fully legalized, the drug remains illegal at the federal level in the U.S. and is only legalized in certain states. The legal status of cannabis in the United States One of the U.S. states that legalized cannabis is California. The state of California, which is the most populous state in the U.S., now collects almost *********** U.S. dollars from taxes generated by the sales of recreational marijuana. This is more than ***** as much as any other state collects. The support for legalizing marijuana among the adult U.S. population has changed significantly during the last half a century. While approximately ** percent supported legalization in 1969, it is now more than ********** of the population. Cannabis is particularly popular among college students in the United States. The percentage of U.S. college students that used cannabis regularly, that is monthly or more frequently, was almost ** percent in 2021.

There are currently around *** million cannabis users worldwide. The highest number of cannabis users can be found in the Americas, followed by Asia and then Africa. The use of cannabis varies depending on the country and region as laws surrounding the sale and use of the drug differ greatly. Some countries and regions maintain harsh penalties for the sale and use of cannabis while others have decriminalized it and more recently even completely legalized it for recreational sale and use. Cannabis Cannabis is by far the most used illicit drug worldwide. Cannabis produces physical and mental effects that change a user’s perception, heighten mood and increase appetite, but can also cause anxiety and paranoia. There has been increased interest in cannabis as a medicine in recent years, with a number of countries legalizing it for this purpose. As a medicine it has been found to reduce nausea and vomiting during chemotherapy, reduce chronic pain, and improve appetite. Legal cannabis in North America Canada as well as a growing number of U.S. states have recently legalized the sale and use of recreational cannabis. Worldwide legal cannabis spending is predicted to reach over ** billion U.S. dollars by the year 2024, with the United States and Canada accounting for the vast majority of this market. The state of Washington alone reported sales of *** billion U.S. dollars in 2022.

This statistic presents the annual cannabis users as a share of the total regional population worldwide in 2020. In that year, about **** percent of North Americans had used cannabis, compared to *** percent of the total world population.

Current marijuana use among U.S. adults in 2022 was highest in Vermont, where around 34.37 percent of adults reported using marijuana within the past year. In recent years, a number of U.S. states, including Colorado and California, have legalized the sale of marijuana for recreational use. In 2022, around 132 million people in the United States reported that they had used marijuana at least once in their lifetime.

Consumer behavior Starting around 2013, the majority of U.S. adults now say they are in favor of legalizing marijuana in the United States. The share of adults who were in favor of legalization has continued to increase over the years. As of 2021, about 68 percent of U.S. adults aged 18 and older were in favor of legalization. Legal sales of marijuana reached 16.5 billion U.S. dollars in 2021, and are expected to increase to around 37 billion dollars by the year 2026.

COVID-19 impact on marijuana use The COVID-19 pandemic and resulting lockdowns led to fears of an increase in substance abuse in many parts of the world. In March 2020, around 40 percent of millennials who used cannabis in the past year reported that they planned to increase their marijuana use during the COVID-19 pandemic. This rise in usage was reflected in sales early in the pandemic. In California for example, sales of marijuana on March 16, 2020 increased 159 percent compared to the same day in 2019.

According to a survey conducted in 2023, 17 percent of American adults smoke marijuana. Additionally, around half of adults in the United States declared to have tried marijuana at least once. Over the last decades, the percentage of people who tried marijuana experienced an increase.

The global cannabis market in 2018 was almost even between adult use and medical cannabis. Adult use cannabis had a ** percent share of the market, while medical cannabis enjoyed the remaining ** percent share of the global cannabis market. By 2027, adult use cannabis is projected to account for ** percent share of the cannabis market, leaving medical cannabis with ** percent share of the global market.

Czechia had the highest prevalence of cannabis use among adults in Europe as of 2022, with 11.1 percent of its population consuming cannabis in the preceding twelve months. This was followed closely by Italy, with 10.8 percent of the population using cannabis.Student use of cannabis in Italy As of 2022, over 40 percent of male students aged 19 years were users of cannabis, while 35 percent of female students of this age were also users. Among 15-year-olds, around ten percent of both boys and girls this age used cannabis.Other drug use in the EU Cannabis is by far the most used drug across the population of the European Union, with almost 30 percent using it at some point in their lifetime. This is followed by cocaine, which 5.4 percent have used in their life, and then MDMA, with four percent of individuals having used.

In 2021, it was estimated that around *** million people worldwide consumed illegal drugs such as cannabis, opioids, and cocaine. Furthermore, around **** million people were thought to be problem drug users or to have a drug use disorder. Although drug use varies from country to country, drug use remains a significant problem in many parts of the world. For example, the United States is currently experiencing an opioid epidemic, with drug overdose deaths reaching record levels over the past few years. What is the most used illicit drug worldwide? The most used illicit drug worldwide is cannabis, followed by opioids, and amphetamines. High estimates suggest that around *** percent of the global population consumed cannabis in the past year as of 2021. In comparison, around *** percent of people were thought to have consumed opioids in the past year, and less than *** percent were estimated to have used amphetamines. Drug use is generally more prevalent among men than women, but this distribution varies by drug. For example, around ** percent of cocaine users worldwide are men and ** percent are women, but women account for ** percent of amphetamine users. Cannabis uses In 2021, it was estimated that around *** million people worldwide consumed cannabis at least once in the past year. The highest number of past year cannabis users at that time was found in the Americas. This may be unsurprising since Canada and many U.S. states now allow the sale and use of recreational cannabis. The market for recreational cannabis is substantial in both countries. In the United States, sales of recreational cannabis reached **** billion U.S. dollars in 2021 and are expected to grow to some ** billion U.S. dollars by the year 2026. In 2020, there were thought to be around **** million adult consumers of cannabis in the United States, with this number expected to increase to just over *** million by 2025.

Cannabis Market Outlook

According to our latest research, the global cannabis market size reached USD 67.2 billion in 2024, reflecting a robust expansion driven by evolving regulatory environments and increasing consumer acceptance. The market is projected to grow at a CAGR of 14.8% from 2025 to 2033, with the total market value forecasted to reach USD 196.3 billion by 2033. The significant growth momentum is primarily attributed to the rising demand for both medical and recreational cannabis, advancements in product innovation, and broadening legalization across key markets.

One of the primary growth factors for the global cannabis market is the progressive shift in legislative frameworks worldwide. Governments in North America, Europe, and parts of Latin America are increasingly recognizing the therapeutic benefits of cannabis, leading to the relaxation of restrictions and the establishment of regulated markets. Medical cannabis, in particular, has gained traction as scientific studies and clinical trials continue to validate its efficacy in managing chronic pain, neurological disorders, and various other health conditions. This regulatory evolution is not only fueling domestic consumption but also encouraging cross-border investments and collaborations, further accelerating market expansion.

Consumer awareness and acceptance of cannabis-derived products have witnessed a significant surge, contributing to the market's exponential growth. The stigma traditionally associated with cannabis use is gradually diminishing, thanks to extensive educational campaigns, advocacy by patient groups, and endorsements by healthcare professionals. The proliferation of diverse product formats such as edibles, concentrates, topicals, and wellness supplements is attracting a broader demographic, including older adults seeking alternative therapies and younger consumers interested in recreational experiences. This diversification in product offerings is enabling companies to tap into new user segments and sustain long-term growth.

Technological advancements in cultivation, extraction, and product formulation are transforming the cannabis industry landscape. Innovations such as precision agriculture, hydroponics, and advanced extraction techniques are enhancing product quality, consistency, and yield. These improvements are not only resulting in premium-grade cannabis products but are also fostering the development of novel applications across medical, recreational, and industrial sectors. Furthermore, the integration of digital platforms for sales and distribution is streamlining access to legal cannabis, thereby expanding market reach and driving revenue growth.

From a regional perspective, North America continues to dominate the global cannabis market, accounting for the largest share in 2024 due to favorable regulatory policies, high consumer demand, and a well-established supply chain. Europe is emerging as a significant growth frontier, propelled by incremental legalization and rising investments in research and development. Meanwhile, the Asia Pacific region is gradually opening up to cannabis, with countries like Thailand and Australia leading the way in medical cannabis adoption. Latin America and the Middle East & Africa are also witnessing increased activity, although market maturity varies significantly across these regions.

Product Type Analysis

The cannabis market is segmented by product type into flower, concentrates, edibles, topicals, and others. The flower segment remains the most traditional and widely consumed form, particularly among recreational users who prefer smoking or vaporizing. The popularity of cannabis flower is underpinned by its accessibility, affordability, and the immediate effects it delivers. However, the segment is experiencing intense competition from newer product forms as consumer preferences evolve. Companies are investing in premium and specialty strains to differentiate their offerings, while regulatory bodies are introducing qual

Snapshot img

Marijuana Market Size 2024-2028

The marijuana market size is forecast to increase by USD 87.8 billion at a CAGR of 32.14% between 2023 and 2028.

The market is experiencing significant growth due to the increasing legalization of cannabis for medical and recreational use in various regions. This trend is further fueled by the expansion of the e-commerce industry, enabling easier access to cannabis-infused edible products, CBD oil, and other cannabinoid-based offerings. However, the market also faces challenges such as the potential side effects associated with inappropriate use of medical marijuana and the need for effective pest control solutions to ensure product quality and safety. The cannabis industry is evolving rapidly, with a focus on innovation and compliance to meet the growing demand for CBD and other cannabinoid-based products.

What will be the Size of the Marijuana Market During the Forecast Period?

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The market encompasses a diverse range of products derived from the Cannabis plant, including flowers, concentrates, edibles, topicals and tinctures. Two primary types of cannabis are commonly recognized: Cannabis sativa and Cannabis indica. THC (tetrahydrocannabinol) and CBD (cannabidiol) are the most prominent cannabinoids, with THC producing psychoactive effects and CBD offering therapeutic benefits. Medical cannabis and recreational cannabis are the two primary market segments. Medical cannabis is used to alleviate symptoms of various conditions, such as chemotherapy-induced nausea, while recreational cannabis is consumed for its psychoactive properties. CBD products, such as CBD gummies, have gained popularity due to their non-psychoactive nature and potential health benefits.
The market is continually evolving, with new products and innovations emerging regularly. Cannabinoids, including CBD (Epidiolex) and THC (Sativex, Marinol, Syndros, and others), are being developed and marketed as pharmaceuticals. The cannabis market is experiencing significant growth and is expected to continue expanding due to increasing legalization, consumer demand, and ongoing research and development.

How is this Marijuana Industry segmented and which is the largest segment?

The marijuana industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Medical marijuana
  Recreational marijuana


Type

  Oil and tinctures
  Flower


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC



  South America



  Middle East and Africa

By Product Insights

The medical marijuana segment is estimated to witness significant growth during the forecast period. Medical marijuana is experiencing significant growth In the US market due to its potential therapeutic benefits for various health conditions. Chronic pain, including neuropathic and inflammatory pain, is one of the primary conditions treated with marijuana. The increasing prevalence of chronic pain among adults and the popularity of medical marijuana as a pain reliever are driving market expansion. Additionally, medical marijuana has shown promise in alleviating nausea caused by conditions such as Crohn's disease, acute gastritis, hypoglycemia, panic disorder, and arachnoiditis. Marijuana plants used for medicinal purposes include Cannabis indica, Cannabis sativa, and hybrids. The market for medical marijuana products, including flowers, concentrates, edibles, topicals, and tinctures, is expected to continue growing due to their potential therapeutic applications in treating conditions such as epilepsy, multiple sclerosis, anxiety, cancer, glaucoma, and insomnia.

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The Medical marijuana segment was valued at USD 9.19 billion in 2018 and showed a gradual increase during the forecast period. THC and CBD are the primary cannabinoids found in marijuana, with THC providing psychoactive effects and CBD offering therapeutic benefits without the high. Other cannabinoid-based products, such as Sativex, Marinol, Cesamet, and various cannabis-based products, are also gaining popularity for their medicinal applications. The legalization of marijuana for adult use in some states and continued clinical trials for various conditions are further fueling market growth.

Regional Analysis

North America is estimated to contribute 87% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the legalization of marijuana for medical use is gaining momentum. In the US and Canada, marijuana is authorized for thera

Some 26 percent of Canadian consumers surveyed stated that they had consumed cannabis, or marijuana as it is otherwise known, the past year in 2024. This is a one percent decrease compared to 2022. Canada became only the second country worldwide to legalize the use of marijuana for recreational purposes in all of their provinces in 2018. How can cannabis be consumed? Cannabis can come in various forms, and with this comes different ways to consume the product. 83.2 percent of surveyed recreational cannabis users stated that they smoked the product. Smoking cannabis in handmade cigarettes utilizes the dried flower form of the product. With the recent legalization of the manufacturing and sale of e-cigarettes in Canada, it is likely that an increasing number of consumers will use vape pens to inhale this herbal form in the future. Cannabis can also be combined with food and drink products. Baked goods such as cookies and brownies are the type of cannabis edible most consumers are interested in trying. Cannabis regulation in Canada Regulation of the drug is not a straight forward topic, there has been issues keeping up with demand and not everyone agrees with the legalization of non-medical marijuana. As of October 2018, over half of Canadians approved of the legalization. There is also an ongoing debate on how cannabis should be regulated, if it should be treated more like alcohol or tobacco.

The Medical Marijuana Market size was valued at USD 6,338.1 USD million in 2023 and is projected to reach USD 44,512.2 USD million by 2032, exhibiting a CAGR of 21.2 % during the forecast period. The market of medical Marijuana is therefore growing because of the legalization of cannabis products for health management across the world. It offers multiple forms (oils, capsules, vaporizers) and contains THC and CBD from the Cannabis plant. Some uses are as follows: It can be used for pain control and in the treatment of long-term conditions such as epilepsy. These are synthetic and natural types that are significantly driven by advanced extraction and cultivation technologies used in the market to improve patient quality, minimize opioid reliance, and impact the economy through taxation and employment. Key drivers for this market are: Increasing Public Awareness for Safer Medicines to Stimulate Market Value. Potential restraints include: Side Effects Associated with the Intake of Cannabis Might Restrict Market Growth. Notable trends are: Manufacturers focusing on the Development of Mitral Valve Product will drive the Market .

As of 2021, women represented around 42 percent of cannabis users in North America , while in Asia only nine percent of cannabis users were women. This statistic illustrates the distribution of cannabis users worldwide as of 2021, by gender and region.

According to Cognitive Market Research, the global cannabis extraction market size will be USD 12542.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 19.60% from 2024 to 2031. North America held the major market share for more than 40% of the global revenue with a market size of USD 5017.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.8% from 2024 to 2031. Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3762.75 million. Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2884.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.6% from 2024 to 2031. Latin America had a market share of more than 5% of the global revenue with a market size of USD 627.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.0% from 2024 to 2031. Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 250.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.3% from 2024 to 2031. The non-solvent extraction is the fastest growing segment of the cannabis extraction industry Market Dynamics of Cannabis Extraction Market Key Drivers for Cannabis Extraction Market Legalization of cannabis in several countries to drive market growth The legalization of cannabis in various countries is a key driver for the cannabis extraction market. As more governments approve cannabis for medicinal and recreational use, the demand for high-quality extracts increases significantly. Legalization enables easier access to the plant, fuels investment in advanced extraction technologies, and supports the growth of research and development in cannabis-based products. This regulatory shift creates a broader customer base, leading to higher consumption of cannabis oils, concentrates, and edibles. Additionally, it allows companies to operate with fewer restrictions, encouraging innovations in extraction methods. As a result, the growing legal cannabis landscape will positively impact the market by increasing production capabilities and fostering the development of new cannabis-derived products, driving overall market expansion. Increasing demand for medicinal cannabis products to boost market growth The increasing demand for medicinal cannabis products is significantly boosting the cannabis extraction market. Patients and healthcare providers are increasingly turning to cannabis extracts, such as CBD oils, due to their therapeutic potential in treating a variety of medical conditions like chronic pain, anxiety, epilepsy, and multiple sclerosis. This growing acceptance in the medical field encourages pharmaceutical companies to invest in research and develop targeted formulations using cannabis extracts. As the medicinal benefits of cannabinoids gain more clinical validation, demand is set to rise, particularly for high-quality, precise-dose extracts. This trend will drive the growth of extraction technologies, as companies seek to meet stringent medical-grade product standards, while also boosting overall production to cater to the burgeoning medical cannabis industry. Restraint Factor for the Cannabis Extraction Market Data security and privacy concerns to limit market growth Inconsistent product quality due to different extraction methods is a significant restraint in the cannabis extraction market. Each extraction method—whether solvent-based or solvent less—produces varying results in terms of cannabinoid content, purity, and overall potency. For instance, CO2 extraction might yield a higher purity, while ethanol extraction may produce higher quantities but with residual solvents. Such inconsistencies can affect the final product’s efficacy, making it difficult to maintain uniform standards across batches. This lack of consistency can undermine consumer trust, particularly in medicinal applications where precise dosage and reliability are critical. Additionally, regulatory bodies may impose stricter quality controls, leading to increased production costs for manufacturers trying to ensure standardized output. These challenges can limit the market’s growth as consumers and regulators demand greater consistency and safety. Impact of Covid-19 on the Cannabis Extraction Market The COVID-19 pandemic negatively impacted the cannabis extraction market due to disruptions in supply cha...

The global legal cannabis market for medical use is experiencing robust growth, projected to reach a substantial market size. While the exact 2025 market size is not provided, considering a conservative estimate based on a 5% CAGR from a hypothetical 2019 base year value and considering the substantial growth experienced in the sector, a reasonable estimate for the 2025 market value could be in the range of $15-20 billion. This growth is fueled by several key drivers, including increasing legalization efforts globally, growing awareness of cannabis' therapeutic benefits for various conditions like cancer, arthritis, migraine, and epilepsy, and advancements in cannabis-based drug development. The market is segmented by type (THC and CBD) and application, with THC and CBD dominating the market share. The North American market, particularly the United States and Canada, currently holds a significant portion of the global market share due to early adoption of medical cannabis programs and relatively progressive regulatory frameworks. However, significant growth is expected in other regions like Europe and Asia-Pacific as more countries legalize medical cannabis and the understanding of its therapeutic potential broadens. Despite the positive market outlook, several restraints could impact growth. These include stringent regulations in many regions, concerns surrounding safety and efficacy, potential for abuse, and a lack of widespread insurance coverage for cannabis-based treatments. Furthermore, the high cost of production and research and development poses a challenge to some market players. To address these challenges, industry players are focusing on innovation in cultivation techniques, product development, and clinical trials to demonstrate the efficacy and safety of cannabis-based medications, thereby increasing patient access and driving further market expansion. The continued diversification of product offerings and expansion into new therapeutic areas will be crucial for long-term market success. The forecast period (2025-2033) promises continued growth, driven by factors outlined above.

According to Cognitive Market Research, the cannabis seeds market size will be USD XX Billion in 2024 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2030. Market Dynamics: Cannabis Market

Key Drivers-

Awareness among people about cannabis seeds' benefits drives the market-

Cannabis seeds are a nutritional source rich in high-value nutrients such as proteins, with good digestibility and essential amino acids, polyunsaturated fatty acids, fiber, minerals, and vitamins. They treat chronic pain, lower the risk of heart disease, and enhance neurological and other problems. cannabis seeds are also a rich source of health-promoting antioxidants and phytochemicals that may be useful in supporting health and aiding the transition to plant-based diets. Additionally, products of cannabis seeds like cannabidiol (CBD) oil are a cannabinoid that is mixed with a carrier oil to make CBD oil. It claims that the oil benefits various health problems and regulates anxiety, mood, and appetite. CBD might help treat anxiety disorders, although there have not been many trials to look at CBD's anxiety-relieving effects in humans. For instance, in one study, 57 men took either CBD oil or a sugar pill with no CBD (placebo) before a public speaking event.15 The researchers assessed the participants' anxiety levels using blood pressure and heart rate measures. The researchers also used a reliable test for mood states called the Visual Analog Mood Scale. The men who took 300 milligrams (mg) of CBD oil reported less anxiety than the men who were given a placebo; however, the men who took 100 or 600 mg of CBD oil did not experience the same effects. This trial was limited by a small sample size and only enrolled men, so more data is needed to see if CBD has a similar impact on women.

Therapeutic benefits of cannabis seeds drive the growth of the global cannabis seeds market.

The therapeutic use of cannabinoids treated numerous diseases such as -inflammation, neurodegenerative disorders, anorexia, pain, cardiovascular disorders, cancer, obesity, epilepsy, and cancer. Also, the use of cannabis for chemotherapy-induced nausea and vomiting may be the best-known and accepted use of cannabis by healthcare professionals, pain management is the most common reason for use among the medical marijuana states that keep records (although New Jersey does not accept chronic pain as an acceptable use). For example, the most common conditions for which medical cannabis is used in Colorado and Oregon are pain, and spasticity associated with multiple sclerosis, nausea, posttraumatic stress disorder, cancer, epilepsy, cachexia, glaucoma, HIV/AIDS, and degenerative neurological conditions.

Restraint-

Legalization of cannabis seeds is restraining the market growth for cannabis seeds 

There is a trace amount of THC (tetrahydrocannabinol) found in cannabis. It is a psychoactive compound used to manage and treat chemotherapy-induced nausea and vomiting., consuming large amounts of cannabis makes you high. That’s the reason Cannabis would then be available to the adult general population for purchase and use at will, similar to tobacco and alcohol. State legislature decriminalized cannabis because the act of removing criminal sanctions against an act, article, or behavior. the legal system would not prosecute a person for possession under a specified amount. Instead, the penalties would range from no penalties at all to civil fines, drug education, or drug treatment. Decriminalization of cannabis means it would remain illegal, For instance- Cannabis is the most commonly used illicit drug in the US. Data from The National Survey on Drug Use and Health indicate that 44% of males and 35% of females have used marijuana at least once in their lifetime. More recent studies suggest that regular use of marijuana/cannabis is increasing. The legality of cannabis for medical and recreational use varies by country, in terms of its possession, distribution, and cultivation. There are several legality statuses for cannabis possession for recreational use are- • Legal status for cannabis consumption. • Illegal but decriminalized status for cannabis consumption. • Illegal but often unenforced status for cannabis consumption. • Illegal...

The size of the Germany Legal Cannabis Market was valued at USD 37.2 Million in 2023 and is projected to reach USD 98.35 Million by 2032, with an expected CAGR of 14.9 % during the forecast period. Germany is on the verge of setting up a legalized cannabis market. The government will allow regulated sales of cannabis for recreational use, the coalition government, which includes the Social Democrats (SPD), proposed a framework to legalize in 2023 and thus provide a controlled environment in which to consume cannabis. The controlled environment will include a regulated market for cannabis production, sales, and consumption. The plan is to let adults-18 years old and above-buy up to 30 grams of cannabis for private use, including growing some plants in one's own home. The plan is also aimed at diminishing the black market, public safety, and focusing on harm reduction measures. It follows a trend going on all over the world on the legalisation of cannabis, not only in European countries but also in the U.S. Germany's cannabis market, which is still in its developing stage, will be one of the biggest and most impactful in Europe. Recent developments include: In June 2023, Cake & Caviar, a renowned cannabis brand from British Columbia, geared up for a major global expansion. The brand was expected to launch its products at the International Cannabis Business Conference (ICBC) in Berlin, Germany. , In May 2023, Stenocare A/S, a Danish company, expanded into Germany by launching medical cannabis oils in collaboration with ADREX Pharma, which specializes in developing, producing, and marketing medical cannabis products. .

According to Cognitive Market Research, the Global Glufosinate Market Size will be USD XX Billion in 2023 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2031.

Based on Crop Type, the cereals and grains segment will dominate the global Glufosinate market in the year 2023. Based on crop type, the market is divided into Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Others
Based on Application, the Herbicide segment dominated the global Glufosinate market. Based on Application, the global Glufosinate market is segmented into Herbicide, Plant Breeding, Liquid Chromatography, and Others.
Based on End-users, the Agriculture segment dominated the global Glufosinate market. Based on End-users, the global Glufosinate market is segmented into Agriculture, Bio-Medical and Bio-Technology, Pharmaceutical, Environment, and Others.
Based on Form, the Liquid segment dominated the global Glufosinate market. Based on form, the global Glufosinate market is segmented into Liquid, and Solid - Dry.
The Asian-Pacific region accounted for the highest market share in the Global Glufosinate Market. 
Over the course of the projection period, North America is expected to increase at the fastest rate.

CURRENT SCENARIO OF THE GLUFOSINATE MARKET

Key factors driving the growth of the Glufosinate Market

Increasing agricultural activities to contribute towards market growth

Due to its broad-spectrum herbicide's ability to effectively control a variety of weeds, glufosinate has attracted a lot of attention from the agricultural world. Its mechanism of action interferes with the plant's capacity to make vital amino acids, which effectively and quickly controls weeds. Due to its favourable environmental properties, including its low persistence and soil mobility, glufosinate is a favoured option for farmers looking for environmentally friendly weed control methods.

Key growth drivers for the glufosinate market have emerged as regions including Asia-Pacific, Latin America, and parts of Africa that are going through tremendous agricultural expansion. In order to guarantee effective weed control and optimise crop yield, these regions have seen a rise in the use of herbicidal solutions due to the adoption of modern farming practices and growing farm sizes.

The need for effective weed management solutions grows as agricultural techniques change to suit the demands of a growing population and shifting climatic circumstances. In light of this, glufosinate becomes an essential weapon in the toolbox of contemporary farmers, propelling continual expansion and innovation in the agrochemical industry.

Growing agricultural activities owing to the need and requirement of the rapidly increasing population will act as a driving factor for the glufosinate market. For instance, in China, the agriculture industry constantly rises every year by at least 2.3%, which accounted for about USD 734.9 billion in the first three quarters and recorded nearly 670 billion kg in 2020, which marks the sixth consecutive year for China’s total food grain production that has crossed over 650 billion kg. (Source: https://www.fao.org/3/ab981e/ab981e0c.htm)

These kinds of increases in agricultural activities and demand for genetically modified crops owing to their cost-effective characteristic and weed controlling properties will boost the growth of the glufosinate market globally.

Increasing Demand for Alternative Substitutes for Glyphosate Herbicide and Government support and initiatives propelling market growth

Herbicides containing glufosinate are increasingly used by farmers as a plant protection measure. When glyphosate ammonium gets into contact with plants, it works better to control weeds without harming the soil, roots, or necessitating tillage. When used in conjunction with an integrated weed management programme (IWM), it also contributes to the development of resistance to other herbicides, hence increasing the use of glufosinate.

Furthermore, a lot of businesses are creating various items to expand their market by knowing the demand for glufosinate.

The BASF SE, a European-based multinational company, and the largest chemical producer in the world has offered glufosinate-ammonium as an active ingredient in several herbicide products such as Basta, Finale, Rely and Liberty. The wide...

According to Cognitive Market Research, the global Cannabis market size will be USD 58614.5 million in 2024. It will expand at the compound annual growth rate (CAGR) of 35.00% from the year 2024 to 2031.

North America held the primary market share for more than 40% of global revenue with a market size of USD 23445.80 million in 2024 and will rise at a compound annual growth rate (CAGR) of 33.2% from the year 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 17584.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 13481.34 million in 2024 and will rise at the compound annual growth rate (CAGR) of 37.0% from the year 2024 to 2031.
Latin America held a market share of more than 5% of global revenue with a market size of USD 2930.73 million in 2024 and will rise at the compound annual growth rate (CAGR) of 34.4% from the year 2024 to 2031.
Middle East and Africa held a market share of around 2% of global revenue and estimated at a market size of USD 1172.29 million in 2024 and will rise at the compound annual growth rate (CAGR) of 34.7% from the year 2024 to 2031.
The concentrates category is the fastest growing segment of the Cannabis industry

Market Dynamics of Cannabis Market

Key Drivers for Cannabis Market

Legalization and regulatory reforms are significantly driving the market

A primary driver of the cannabis market is the increasing wave of legalization and regulatory reforms across various regions. Governments and other organizational bodies are increasingly recognizing the medical and therapeutic benefits of cannabis, along with its potential to generate significant revenue, leading to progressively easing restrictions on cultivation, distribution and consumption. The use of cannabis for medical purposes has gained widespread acceptance, for treating chronic pain, anxiety and epilepsy, prompting many countries to legalize the same, under controlled conditions. The legalization of recreational cannabis in countries like U.S., Canada and Thailand has dramatically expanded the consumer base, opening up new commercial opportunities. Legalization also helps transition the market from illegal and unregulated sources to a safer and quality-controlled environment.

Rising Demand for Medical Cannabis to Drive Market Growth

The increasing acceptance of cannabis for medical purposes is another major factor driving market growth. Scientific studies and clinical trials have highlighted the therapeutic benefits of cannabis compounds, particularly cannabidiol (CBD) and tetrahydrocannabinol (THC), in managing chronic pain, anxiety, epilepsy, and other conditions. This has led to growing prescriptions for cannabis-based medications in healthcare systems worldwide. The ageing global population and surging prevalence of chronic diseases have further spurred demand for medical cannabis as a natural and effective treatment option. The advancements in extraction technologies and product formulations have made cannabis-derived pharmaceuticals more accessible and standardized, enhancing their appeal among patients and healthcare professionals. With ongoing research and increasing acceptance, the medical cannabis segment is poised to play a pivotal role in the expansion of the overall cannabis market.

Restraint Factor for the Cannabis Market

Stringent Regulatory Frameworks and Legal Restrictions Will Limit Market Growth

The cannabis market faces significant restraints due to stringent regulatory frameworks and inconsistent legal statuses across different regions. While some countries and states have legalized medical or recreational cannabis, many others continue to impose strict prohibitions. Even in legalized areas, taxation policies, complex licensing requirements, and compliance costs pose challenges for market participants. These barriers limit market entry for smaller businesses and slow the expansion of cannabis-related products. Additionally, the lack of global standardization in regulations complicates international trade and investment opportunities. The stigma associated with cannabis in some regions further hampers its acceptance, restraining the market's growth potential.

Impact of Covid-19 on the Cannabis Market

The COVID-19 pandemic had a mixed impact on the cannabis market. On the positive side, increased anxiety, stress, and health concerns...

According to Cognitive Market Research, the Global Dicamba Herbicide Market Size will be USD XX Billion in 2023 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2024 to 2031.

Based on Crop type, the Cereals & grains segment dominated the global Dicamba Herbicide market. Based on crop type, the market is divided into Cereals & grains, oilseeds & pulses pastures & forage crops and others, including sugarcane, tea, coffee, fruits and vegetables
Based on Formulation, the Acid segment dominated the global Dicamba Herbicide market. Based on Formulation, the global Dicamba Herbicide market is segmented into Acid, Salt
The North American region accounted for the highest market share in the Global Dicamba Herbicide Market. 
Over the course of the projection period, Europe is expected to increase at the fastest rate.

CURRENT SCENARIO OF THE DICAMBA HERBICIDE MARKET

Key factors driving the growth of the Dicamba Herbicide Market

Rapid Shift Towards Genetically Modified Crops to contribute towards market growth

The demand for Dicamba Herbicide is expected to rise as a result of the global move towards genetically modified (GM) crops. In order to maintain food security and increase crop productivity, there is an increasing demand as the world's population continues to expand quickly. Genetically modified crops (GM) have shown promise in mitigating these issues because of their unique resistance to pests and extreme weather. In this case, dicamba herbicide is quite important. It is a vital tool for farmers since it can eradicate broadleaf weeds selectively without harming genetically modified crops. This focused strategy reduces the negative effects on the surrounding environment while simultaneously aiding in the control of weeds. The herbicide's advantage over other herbicides in terms of crop damage is another factor that makes it popular among farmers and agricultural professionals.

In 2019, the largest area of GM crops was possessed by soybean 48%, GM maize occupied an area of 60.9 million hectares globally, around 32% of the global maize production (Source:https://www.frontiersin.org/journals/plant science/articles/10.3389/fpls.2022.1027828/full)

Moreover, crops that are resistant to Dicamba have been created as a result of biotechnology breakthroughs, which has increased demand for this herbicide. Farmers can efficiently battle weed growth and increase agricultural yields and productivity by integrating genetic changes that confer Dicamba resistance to their crops. The demand for Dicamba Herbicide is anticipated to increase significantly in areas like Asia Pacific and South America where agriculture plays a large economic role. Since agriculture is a major source of employment and revenue in these areas, the acceptance of genetically modified crops and related herbicides is essential to the viability of their agricultural industry. The quick uptake of GM crops is therefore expected to drive a global rise in demand for Dicamba Herbicide in light of these factors and the growing need for sustainable agriculture methods. The role of GM crops and supporting herbicides like Dicamba becomes ever more crucial in guaranteeing global food security and sustainable agriculture as the globe struggles to fulfil the growing demand for food.

Increasing use of dicamba to control the growth of weeds is one of the key factors driving the growth of the global dicamba herbicide market

It is predicted that the need for alternative treatments like Dicamba herbicide would increase due to weeds' growing resistance to conventional herbicides on a worldwide scale. Farmers and agriculturists around the world are facing decreasing crop yields due to weeds that are evolving and becoming resistant to traditional herbicides. This calls for the application of more effective weed control techniques. The selective pesticide dicamba has shown promising results in controlling a variety of broadleaf weeds that have grown resistant to conventional methods. Because of its distinct mechanism of action, which slows plant development, farmers prefer using it. Furthermore, there will probably be a greater need for herbicides like Dicamba as a result of the growing world population and the ensuing need for increased agricultural output. Such cutting-edge herbicides are crucial for achieving sustainable agricultural pr...