Canada Legal Cannabis Market Size & Outlook, 2023-2030
Canada legal cannabis market, 2018-2030 (US$M)
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Canada legal cannabis market highlights
- The Canada legal cannabis market generated a revenue of USD 2,487.8 million in 2023 and is expected to reach USD 7,391.6 million by 2030.
- The Canada market is expected to grow at a CAGR of 16.8% from 2024 to 2030.
- In terms of segment, marijuana was the largest revenue generating source in 2023.
- Marijuana is the most lucrative source segment registering the fastest growth during the forecast period.
Legal cannabis market data book summary
| Market revenue in 2023 | USD 2,487.8 million |
| Market revenue in 2030 | USD 7,391.6 million |
| Growth rate | 16.8% (CAGR from 2023 to 2030) |
| Largest segment | Marijuana |
| Fastest growing segment | Marijuana |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Marijuana, Hemp |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Aphria Inc, The Cronos Group, Tilray Brands Inc, Sundial Growers, Insys Therapeutics, The Scotts Miracle Gro Co Class A, MediPharm Labs Corp, Cara Therapeutics Inc, GW Pharmaceuticals |
Other key industry trends
- In terms of revenue, Canada accounted for 9.1% of the global legal cannabis 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. legal cannabis 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 7,391.6 million by 2030.
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Legal Cannabis Market Scope
Legal Cannabis Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada legal cannabis 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 legal cannabis market will help companies and investors design strategic landscapes.
Marijuana was the largest segment with a revenue share of 87.03% in 2023. Horizon Databook has segmented the Canada legal cannabis market based on marijuana, hemp covering the revenue growth of each sub-segment from 2018 to 2030.
Canada has legalized production and sale of both CBD- and THC-potent cannabis for medical purposes. The Cannabis Act 2018 fabricates a framework to regulate production, sale, and possession of cannabis across Canada.
The use of CBD is authorized only by prescription in the country. The Canadian government has placed certain restrictions on the type of cannabis extracts that can be sold legally.
Cannabis in the form of pre-rolled joints, flower buds, oil, seeds, and plants can be sold, but sale of concentrates and edibles is not permitted.
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Our clientele includes a mix of legal cannabis 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 Canada legal cannabis market , including forecasts for subscribers. This country databook contains high-level insights into Canada legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada legal cannabis market size, by source, 2018-2030 (US$M)
Canada Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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