Straits Research | August 2025 – The global cannabis market is booming. As legalization spreads and innovation intensifies, the industry is forecasted to grow from USD 52.01 billion in 2025 to a massive USD 290.73 billion by 2033, at a CAGR of 24%.

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What is the Market for Cannabis?

The cannabis market refers to the global commercial ecosystem for cannabis products—covering medical cannabis, recreational cannabis, CBD, THC, cannabis dispensaries, and custom cannabis solutions for wellness, beauty, and nutrition. It spans from cannabis online retailers to cannabis stores and licensed dispensaries, including companies involved in cannabis stocks and cultivation.

What Country Has the Biggest Cannabis Market?

Currently, the United States holds the title of the biggest cannabis market, driven by aggressive legalization efforts and surging consumer demand. North America leads the global industry, supported by a wide network of cannabis dispensaries, favorable policies, and growing acceptance of medical cannabis and recreational use.

Why the Cannabis Industry Is Growing Rapidly

Medical Cannabis Leads the Charge

Globally, medical cannabis is gaining popularity as an alternative therapy for conditions such as chronic pain, glaucoma, epilepsy, and even diabetes. Many ask, "What is cannabis?"—and the answer is: a genus of flowering plants rich in chemical compounds like tetrahydrocannabinol (THC) and cannabidiol (CBD), known for their healing properties.

In the UK, while cannabis is not fully legal, it has been legalized for medical use under prescription since 2018. The market is evolving cautiously but steadily.

CBD in Skincare is Changing the Game

The emergence of CBD-infused products like CBD body oil, CBD face cream, and hemp cosmetics is creating a parallel wellness segment. Global giants like Estée Lauder and L’Oréal are already capitalizing on the custom cannabis trend in skincare.

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Is Cannabis Legal in... ?

• Italy: Cannabis is legal in Italy for medical purposes, and cultivation of hemp with less than 0.6% THC is allowed.

• UK: As of now, cannabis is legal in the UK only for limited medical applications.

• Spain: Cannabis is legal in Spain for personal use, and cannabis clubs are allowed, but commercial sales remain prohibited.

• India: While cannabis in India is largely banned under the NDPS Act, its traditional form “bhang” is legally sold during religious festivals in states like Uttar Pradesh and Rajasthan. Locally, it’s often called “ganja” or “charas”.

🚀 Cannabis Stocks and Market Opportunities

Investors are increasingly eyeing cannabis stocks listed on global exchanges. Companies like Tilray, Canopy Growth Corp, and Aurora Cannabis Inc. are at the forefront of R&D, exports, and medical cannabis innovations.

Even political developments are shaping the market. Discussions like "Trump cannabis policy" have long influenced investor sentiment and legalization momentum in the U.S.

With the growing trend of custom cannabis and clean-label CBD, both startups and established brands are entering the market through online platforms and boutique cannabis stores.

Cost of Cannabis: What to Expect?

The cost of cannabis varies widely based on location, quality, strain, and form (flower, edibles, oils, capsules). In the U.S., legal dispensaries price products based on THC/CBD potency and extraction method. Meanwhile, the cost of cannabis in Europe and India is highly influenced by legal restrictions and black-market dynamics.

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Market Segmentation At a Glance

By Product Type

• Capsules

• Concentrates

• Edibles

• Other Products

By Application

• Medical Cannabis

• Recreational Use

By Compound

• THC (Tetrahydrocannabinol)

• CBD (Cannabidiol)

• Balanced THC & CBD

Regional Highlights

• North America: Leads with high acceptance of medical and recreational cannabis. A dense network of dispensaries and licensed producers dominate the landscape.

• South America: Fastest-growing, with countries like Argentina and Colombia expanding legal access to medical cannabis.

• Europe: Germany and the Netherlands are at the forefront. Cannabis is legal in parts of the EU for medical use, with regulations slowly easing.

• Asia-Pacific: Emerging. Thailand has legalized medical cannabis, and India shows increasing regional innovation despite federal restrictions.

Frequently Asked Questions (FAQs)

• What is cannabis?

• What is the market for cannabis?

• What country has the biggest cannabis market?

• Is cannabis legal in Italy, the UK, or Spain?

• What is cannabis called in India?

• How can I buy cannabis online?

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