Japan Cannabidiol Market Size & Outlook, 2023-2030
Japan cannabidiol market, 2018-2030 (US$M)
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Japan cannabidiol market highlights
- The Japan cannabidiol market generated a revenue of USD 114.7 million in 2023 and is expected to reach USD 713.8 million by 2030.
- The Japan market is expected to grow at a CAGR of 29.8% 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 114.7 million |
| Market revenue in 2030 | USD 713.8 million |
| Growth rate | 29.8% (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, Japan accounted for 1.5% 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 Asia Pacific, Japan cannabidiol market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 247.6 million by 2030.
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Cannabidiol Market Scope
Cannabidiol Market Companies
| Name | Profile | # Employees | HQ | Website |
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Japan 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 86.75% in 2023. Horizon Databook has segmented the Japan cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
Consumption and cultivation of cannabis are illegal in Japan as the Japanese government termed cannabis a narcotic drug. However, the government is adopting a lenient approach toward medical cannabis due to the increase in patient population and the legalization of medical cannabis in Western countries.
For instance, recently, in March 2019, Japan approved clinical trials on a cannabis-based drug Epidiolex for treating epileptic patients. These trials are the first step toward using medical cannabis. If these trials are successful, the government may legalize the use of medical cannabis. Although Japan has a strict policy toward cannabis use, it allows the import and use of CBD, as it is regarded to be a non-psychopathic compound.
Thus, patients use CBD-based products to meet their medical needs. This has boosted demand for CBD products in Japan, which in turn helps foreign companies to enter the market. For instance, in 2018, Phivida Holdings a U.S.-based company shipped CBD oil and capsules to distributors in Japan. In 2019, Touchstone Essentials received approval to sell CBD oil and balm in the Japanese market.
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Our clientele includes a mix of cannabidiol market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Japan cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into Japan cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Japan cannabidiol market size, by product, 2018-2030 (US$M)
Japan Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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