India Legal Cannabis Market Size & Outlook, 2023-2030
India legal cannabis market, 2018-2030 (US$M)
Related Markets
India legal cannabis market highlights
- The India legal cannabis market generated a revenue of USD 128.8 million in 2023 and is expected to reach USD 2,153.8 million by 2030.
- The India market is expected to grow at a CAGR of 49.5% from 2024 to 2030.
- In terms of segment, hemp 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 128.8 million |
| Market revenue in 2030 | USD 2,153.8 million |
| Growth rate | 49.5% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| 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, India accounted for 0.5% 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 Asia Pacific, Thailand legal cannabis market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 9,624.1 million by 2030.
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Legal Cannabis Market Scope
Legal Cannabis Market Companies
| Name | Profile | # Employees | HQ | Website |
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India 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.
Hemp was the largest segment with a revenue share of 92.7% in 2023. Horizon Databook has segmented the India legal cannabis market based on marijuana, hemp covering the revenue growth of each sub-segment from 2018 to 2030.
Uttarakhand, a state from North India, has been allowed to cultivate hemp for commercial purposes since 2018. Uttar Pradesh became the second state to legalize cultivation of hemp for commercial purposes.
CBD products such as oils extracted from hemp containing THC less than 0.3% are available for sale, mostly through online portals. Vape cartridges and capsules with THC content less than 0.3% are permitted for sale in the country.
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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 India legal cannabis market , including forecasts for subscribers. This country databook contains high-level insights into India legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India legal cannabis market size, by source, 2018-2030 (US$M)
India Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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