Canada Cannabidiol Market Size & Outlook, 2023-2030
Canada cannabidiol market, 2018-2030 (US$M)
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Canada cannabidiol market highlights
- The Canada cannabidiol market generated a revenue of USD 904.9 million in 2023 and is expected to reach USD 2,806.4 million by 2030.
- The Canada market is expected to grow at a CAGR of 17.5% from 2024 to 2030.
- In terms of segment, hemp was the largest revenue generating product in 2023.
- Hemp is the most lucrative product segment registering the fastest growth during the forecast period.
Cannabidiol market data book summary
| Market revenue in 2023 | USD 904.9 million |
| Market revenue in 2030 | USD 2,806.4 million |
| Growth rate | 17.5% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Hemp |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hemp, Marijuana |
| Key market players worldwide | Medical Marijuana Inc, Canopy Growth Corp, Elixinol Wellness Ltd Ordinary Shares, The Cronos Group, Isodiol International Inc, Endoca, Folium Biosciences, NuLeaf Naturals, PharmaHemp |
Other key industry trends
- In terms of revenue, Canada accounted for 11.7% of the global cannabidiol market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. cannabidiol market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 2,806.4 million by 2030.
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Cannabidiol Market Scope
Cannabidiol Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada cannabidiol market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cannabidiol market will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 53.64% in 2023. Horizon Databook has segmented the Canada cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
Canada has legalized the production and sale of both CBD and THC-potent marijuana for medical purposes governed by Health Canada. The Cannabis Act 2018 fabricates a framework to regulate the production, sale, and possession of cannabis throughout Canada. The availability of CBD is authorized only by prescription in the country.
The Canadian government has placed certain restrictions on the type of cannabis extracts to be sold legally. Cannabis in the form of prerolled joints, flower buds, and cannabis oil, seeds, & plants can be sold, but concentrates and edibles are exempted from being sold. Another important factor to be considered is the age limit; the product is accessible only to individuals over 19 years of age.
Moreover, as per Canada's 2023-24 Departmental Plan, Health Canada will work with stakeholders such as Indigenous communities, public health organizations, and law enforcement to effectively implement the cannabis legislative & regulatory framework.
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Our clientele includes a mix of cannabidiol market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into Canada cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada cannabidiol market size, by product, 2018-2030 (US$M)
Canada Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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