(MENAFN- GlobeNewsWire - Nasdaq) The global cannabis products market is projected to grow from $50.96 billion in 2024 to $159.93 billion in 2029, spurred by medical and recreational demand, cannabis tourism, and solar cultivation.

Dublin, July 21, 2025 (GLOBE NEWSWIRE) -- The "Cannabis Products Market Report 2025" report has been added to ResearchAndMarkets.com's offering.
This Cannabis Products market report provides a comprehensive analysis of the market's characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The cannabis products market size has grown exponentially in recent years. It will grow from $50.96 billion in 2024 to $63.75 billion in 2025 at a compound annual growth rate (CAGR) of 25.1%. The growth in the historic period can be attributed to consumer electronics growth, automotive integration, surveillance systems, medical imaging devices, rising social media usage.
The cannabis products market size is expected to see exponential growth in the next few years. It will grow to $159.93 billion in 2029 at a compound annual growth rate (CAGR) of 25.9%. The growth in the forecast period can be attributed to smart home devices, telemedicine growth, environmental monitoring, shift towards multiple camera setups, rising popularity of action cameras and drones. Major trends in the forecast period include advancements in image sensor technology, computational photography, adoption of 3D cameras, AR and VR technologies, remote work and virtual collaboration.
The cannabis products market is experiencing significant growth driven by the expanding medical applications of cannabis. Derived from Indian hemp plants such as Cannabis sativa and Cannabis indica, cannabis contains the main active chemical THC (delta-9 tetrahydrocannabinol). With proven medical benefits, cannabis is increasingly utilized in treating conditions such as nausea, glaucoma, epilepsy, and asthma. Its medical applications extend to addressing chronic pain, cancer, depression, arthritis, diabetes, migraines, AIDS, Alzheimer's disease, and Parkinson's disease. Despite being a psychoactive drug, many countries have legalized cannabis for medical purposes, garnering support from a large percentage of the American population, as highlighted by Harvard Health.
The rising trend of cannabis tourism is expected to significantly boost the growth of the cannabis products market in the future. Cannabis tourism involves travel and tourism activities centered around the consumption, purchase, and exploration of cannabis products, particularly in areas where cannabis is legal for recreational use. This trend fosters a unique niche market, generating demand for various cannabis-related experiences, including dispensary tours, tastings, and cultural events. For example, in October 2023, AlphaRoot, a US-based insurance agency, reported that the global cannabis tourism market was valued at approximately $10.23 billion in 2023, with the United States accounting for over 50% of the total revenue share. Thus, the increasing trend of cannabis tourism is driving the growth of the cannabis products market.
An emerging trend in the cannabis products market is solar cannabis cultivation. Given the energy-intensive nature of cannabis cultivation, companies in the cannabis product manufacturing sector are increasingly investing in solar cannabis cultivation. This trend is particularly evident in states where cannabis products have been legalized, leading to a surge in energy consumption by cannabis manufacturers. For instance, Aurora's acquisition of 71 acres of land in Medicine Hat, Alberta, for a high-technology hybrid greenhouse cannabis production facility exemplifies the shift toward solar cannabis cultivation.
Regulation of cannabis manufacturing safety is a crucial aspect, particularly in California, where the government oversees safety standards under the California Code of Regulations. Manufacturers are required to obtain a valid license, submit the physical address of the manufacturing premises, and provide a comprehensive security plan to prevent unauthorized access and loss or theft of cannabis and cannabis products.
Cannabis products encompass cannabis that has undergone a processing method transforming the plant material into a concentrate or other forms, including but not limited to concentrated cannabis, edibles, or topical products containing cannabis or concentrated cannabis along with other substances. Cannabis is commonly used for recreational purposes and has various medical applications, such as treating migraines, nausea, and vomiting.
North America was the largest region in the cannabis products market in 2024. The Middle East is expected to be the fastest-growing region in the global cannabis products market share during the forecast period. The regions covered in the cannabis products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cannabis products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key Attributes:

Report Attribute	Details
No. of Pages	175
Forecast Period	2025 - 2029
Estimated Market Value (USD) in 2025	$63.75 Billion
Forecasted Market Value (USD) by 2029	$159.93 Billion
Compound Annual Growth Rate	25.9%
Regions Covered	Global

Scope

Markets Covered:

• Product Type: Flower; Concentrates; Other Product Types
• Usage: Medical; Recreational
• Compound: THC-Dominant; CBD-Dominant; Balanced THC and CBD
• Route of Administration: Oral Solutions and Capsules; Smoking; Vaporizers; Topicals; Other Route of Administrations

Subsegments:

• Flower: Dried Flower; Pre-Rolls; Fresh Flower
• Concentrates: Oils; Wax and Shatter; Hash and Rosin; Vape Cartridges
• Other Product Types: Edibles; Beverages; Tinctures and Topicals; Capsules and Pills

Companies Featured

• Medical Marijuana Inc.
• Jazz Pharmaceuticals plc
• Tilray Inc.
• Canopy Growth Corporation
• LivWell Enlightened Health LLC
• Organigram Holdings Inc.
• Aphria Inc.
• Aurora Cannabis Inc.
• Medicine Man Technologies Inc.
• MedMen Enterprises Inc.
• Stenocare A/S
• Cronos Group Inc.
• The Valens Company Inc.
• Jushi Holdings Inc.
• Columbia Care Inc.
• VIVO Cannabis Inc.
• Terra Tech Corp.
• United Cannabis Corporation
• Tikun Olam Ltd.
• Noya Inc.
• The Scotts Miracle-Gro Company
• Wayland Group Corp.
• Cannabis Sativa Inc.
• ABcann Medicinals Inc.
• CanniMed Therapeutics Inc.
• Lexaria Bioscience Corp.
• Cannabis Science Inc.

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Attachment

• Cannabis Products Market

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