North America Legal Cannabis Market Size & Outlook
North America legal cannabis market, 2018-2030 (US$M)
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North America legal cannabis market highlights
- The North America legal cannabis market generated a revenue of USD 18,308.9 million in 2023.
- The market is expected to grow at a CAGR of 14.6% 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.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 18,308.9 million |
| Market revenue in 2030 | USD 47,488.8 million |
| Growth rate | 14.6% (CAGR from 2023 to 2030) |
| Largest segment | Marijuana |
| Fastest growing segment | Marijuana |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, North America region accounted for 66.9% of the global legal cannabis market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 37,735.3 million by 2030.
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Legal Cannabis Market Scope
Legal Cannabis Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America 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 North America legal cannabis market based on marijuana, hemp covering the revenue growth of each sub-segment from 2018 to 2030.
The North America accounted for the largest market share of the market in 2020 owing to its high utilization owing to government approvals in U.S. and Canada. As of 2018, the use of medical cannabis is legal in 30 states and territories of Puerto, Guam, and the District of Columbia. California was the first state that legalized the use of marijuana for medical use later, other states followed in approving the use of cannabis for medical purposes due to its high demand amongst patients.
Presently, nearly 57% of adults in America are in favor of the use of cannabis for medical purposes. A decade ago, only 32.0% favored legalization and 60.0% opposed its use. Hence, the increasing support among Americans would fuel the market growth during the forecast period.
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Target buyers of North America legal cannabis market databook
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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 continent-level data and insights on the North America legal cannabis market , including forecasts for subscribers. This continent databook contains high-level insights into North America legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America legal cannabis market size, by country, 2018-2030 (US$M)
North America Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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