Cannabis Tourism Market Size To Reach $23.73 Billion By 2030

Cannabis Tourism Market Growth & Trends

The cannabis tourism market size is anticipated to reach USD 23.73 billion by 2030, registering a CAGR of 12.38% during the forecast period, according to a new report by Grand View Research, Inc. The growing number of cannabis users, particularly among the younger demographic, is expected to drive the market. For instance, the cannabis survey from Canada showed that cannabis usage was reported by 38.4% of adults aged 18 to 24 and 34.5% of those aged 25 to 44 in 2023; in contrast, only 15.5% of individuals aged 45 and older reported using cannabis. In addition, daily or almost daily cannabis use was reported by 8.7% of the 18 to 24 age group and 10.3% of the 25 to 44 age group, compared to 4.8% of adults aged 45 and older. Thus, such a growing number of cannabis users is expected to drive the market growth over the forecast period.

Destinations are capitalizing on this trend by introducing a variety of cannabis-centric offerings, such as farm visits, "bud and breakfast" accommodations, cannabis-centric festivals, and culinary events. This sector is expected to see sustained growth as more countries move towards legalizing cannabis, further expanding the market.

Moreover, the cannabis tourism market is expected to experience substantial growth as the legalization of cannabis continues to spread globally. In countries such as Uruguay, where cannabis consumption has increased since legalization, more people are turning to cannabis for both recreational and medicinal purposes. The shift towards acceptance and normalization of cannabis use has reduced reliance on the illicit market, providing legal access to a broader range of products for consumers. This changing attitude towards cannabis is expected to drive the growth of the cannabis tourism industry in the coming years.

 Request a free sample copy or view report summary: Cannabis Tourism Market Report

Cannabis Tourism Market Report Highlights

• Based on the age group, the 25 to 44 segment dominated the market in 2023 and is likely to witness the fastest CAGR from 2024 to 2030 due to their high rates of cannabis consumption, rising disposable income, and acceptance of cannabis as part of their travel & leisure activities

• The privately owned distribution channel segment accounted for the largest revenue share in 2023 and is expected to witness the fastest CAGR during the forecast period. Privately owned dispensaries and tour operators offer a more personalized and customized experience for cannabis tourists, catering to their preferences and needs

• The U.S. held the largest market share in 2023 due to the favorable cultivation norms in major cannabis-producing states like Florida, Oregon, Nevada, California, Washington, and Colorado, along with the legalization of recreational marijuana

Cannabis Tourism Market Segmentation

Grand View Research has segmented the cannabis tourism market based on age group, distribution channel, and countries:

Cannabis Tourism Age Group Outlook (Revenue, USD Million, 2018 - 2030)

• 18 to 24

• 25 to 44

• 45 years +

Cannabis Tourism Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Privately Owned

• Government-owned

• Grocery/Supermarket

• Pharmacies

Cannabis Tourism Country Outlook (Revenue, USD Million, 2018 - 2030)

• U.S.

• Canada

• Germany

• Jamaica

• Malta

• Uruguay

• Luxembourg

• South Africa

• The Netherlands

• Thailand

List of Key Players of Cannabis Tourism Market

• VISIT MODESTO

• Discover Southern Humboldt

• Bud and Breakfast

• Emerald Farm Tours, LLC.

• Niagara Weed & Wine.

• Okanagan Cannabis Tours

• Victoria Cannabis Tours Ltd.

• Del Mundo Cannabis

• Canopy Growth Corp.

• TPCO Holding Corp.