UK Legal Cannabis Market Size & Outlook, 2023-2030
UK legal cannabis market, 2018-2030 (US$M)
Related Markets
UK legal cannabis market highlights
- The UK legal cannabis market generated a revenue of USD 134.9 million in 2023 and is expected to reach USD 537.9 million by 2030.
- The UK market is expected to grow at a CAGR of 21.8% 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 134.9 million |
| Market revenue in 2030 | USD 537.9 million |
| Growth rate | 21.8% (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, UK 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 Europe, Switzerland legal cannabis market is projected to lead the regional market in terms of revenue in 2030.
- Switzerland is the fastest growing regional market in Europe and is projected to reach USD 1,206.7 million by 2030.
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Legal Cannabis Market Scope
Legal Cannabis Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 85.84% in 2023. Horizon Databook has segmented the UK legal cannabis market based on marijuana, hemp covering the revenue growth of each sub-segment from 2018 to 2030.
According to the UN International Narcotics Control Board (INCB), the UK is one of the largest exporters and producers of medical marijuana (including cannabis products) in the world, owing to factors such as legalization of medical cannabis and favorable climatic conditions.
The country produced nearly 95 tons of medical marijuana and exported nearly 2.1 tons in 2016. In addition, in November 2018, the UK government changed the law on medicinal cannabis consumption and moved it from schedule 1 to schedule 2 drugs, which allowed doctors to prescribe it to patients suffering from certain medical conditions.
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Target buyers of UK 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 country-level data and insights on the UK legal cannabis market , including forecasts for subscribers. This country databook contains high-level insights into UK legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK legal cannabis market size, by source, 2018-2030 (US$M)
UK Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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