Missouri Legal Cannabis Market To Reach $5.52 Billion By 2030

Missouri Legal Cannabis Market Growth & Trends

The Missouri legal cannabis market size is expected to reach USD 5.52 billion by 2030, growing at a CAGR of 20.4% from 2024 to 2030, according to a new report by Grand View Research, Inc.  Growing research and development (R&D) activities are expected to drive cannabis demand in Missouri. Increasing cannabis application in medical and recreational applications is one of the pivotal factors propelling demand for medical marijuana.

Rapid increase in applications of medical cannabis in various indications including inflammation, epilepsy, sleep disorders, pain, anorexia, multiple sclerosis, and schizophrenia are estimated to drive the market’s growth. Regulator and consumer acceptance of legal marijuana is increasing which is positively impacting this growth. Moreover, there is a shift to prescription drugs from cannabis herbal preparations. Demand for quantified, packed, and processed products is significantly increasing which is driving the growth.

Coronavirus lockdowns caused a decline in customers buying from offline or retail shops, however, many key players shifted their focus to selling products on social media and e-commerce platforms. Overall industry has grown due to an increasing number of consumers with approval of its adult use in the state. Legal cannabis industry witnessed a downfall due to drug shortage. Primary reason for an overall decrease in revenue was the government-imposed restrictions on international commerce due to the pandemic.

Factors such as shifting preference from opioid drugs to cannabis-based treatments are expected to help fuel market growth. Increasing awareness about medicinal properties of marijuana is attributed to be a key growth factor. Recent research studies confirming anti-cancer properties of the product and rising preference of patients for cannabis treatment of chronic conditions such as Alzheimer’s and Parkinson’s disease over other available drug therapies are critical factors attributed to market’s growth.

Some key players are BeLeaf Medical, Show Me Alternatives, Missouri Wild Alchemy, Heya Wellness, Organic Remedies, Holistic Industries, and MOcann Extracts. These players focus on strategies such as new product launches, mergers & acquisitions, and regional expansions. Players are turning to expand their product portfolios through mergers and acquisitions of smaller companies. For instance, in 2020, Curaleaf announced two major acquisitions aimed at increasing its foothold in the U.S.

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

Missouri Legal Cannabis Market Report Highlights

• In 2023, the Marijuana segment accounted for the largest revenue share, and it is anticipated to register a significant CAGR from 2024 to 2030.

• By derivatives, CBD segment accounted for the largest revenue share in 2023.

• In 2023, recreational use segment accounted for the largest market share, and it is anticipated to register a significant CAGR from 2024 to 2030.

Missouri Legal Cannabis Market Segmentation

Grand View Research has segmented the Missouri legal cannabis market based on source, derivatives, cultivation, and end- use:

Missouri Legal Cannabis Source Outlook (Revenue, USD Million, 2018 - 2030)

• Hemp

  • Hemp CBD

  • Industrial Hemp

• Marijuana

  • Flower

  • Oil and Tinctures

Missouri Legal Cannabis Derivatives Outlook (Revenue, USD Million, 2018 - 2030)

• CBD

• THC

• Others

Missouri Legal Cannabis Cultivation Outlook (Revenue, USD Million, 2018 - 2030)

• Indoor Cultivation

• Greenhouse Cultivation

• Outdoor Cultivation

Missouri Legal Cannabis End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Industrial Use

• Medical Use

  • Chronic Pain

  • Depression and Anxiety

  • Arthritis

  • Post-traumatic Stress Disorder (PTSD)

  • Cancer

  • Migraines

  • Epilepsy

  • Alzheimer’s

  • Multiple Sclerosis

  • AIDS

  • Amyotrophic Lateral Sclerosis

  • Tourette’s

  • Diabetes

  • Parkinson's

  • Glaucoma

  • Others

• Recreational Use

List of Key Players in the Missouri Legal Cannabis Market

• BeLeaf Medical

• Blue Sage Cannabis Co.

• Show Me Alternatives

• Heya Wellness

• Missouri Wild Alchemy

• Organic Remedies

• Holistic Industries

• Kansas City Cannabis

• LOCAL CANNABIS COMPANY

• MOcann Extracts