United States Cannabis Market Size, Share, and COVID-19 Impact Analysis, By Source (Hemp, Marijuanas), By Derivatives (CBD, THC), By Cultivation (Indoor Cultivation, Outdoor Cultivation), and United States Cannabis Market Insights, Industry Trend, Forecasts to 2033.

United States Cannabis Market Insights Forecasts to 2033

• The United States Cannabis Market Size is Growing at a 10.92% CAGR from 2023 to 2033.
• The United States Cannabis Market Size is Expected to Reach a Significant Share by 2033.

The United States Cannabis Market Size is expected to Reach a Significant Share by 2033, Growing at a 10.92% CAGR from 2023 to 2033. The US cannabis industry is growing with legalization, technology, and consumer demand. Federal prohibition and taxation are challenges but not main drivers, whereas THC hegemony, indoor cultivation, and medicinal use fuel growth prospects.  

Market Overview

United States cannabis market is the legal growth, manufacturing, distribution, and sale of cannabis products in the U.S. It entails both medical and adult-use (or recreational) cannabis, including products like flower, edibles, concentrates, topicals, tinctures, and infused drinks. Moreover, the U.S. cannabis industry growth is fueled by legalization, consumer demand, and innovation. Growing state approvals, federal policy changes, and medical research drive adoption. Product diversification, such as edibles, vapes, and CBD, appeals to broader demographics. Investment and M&A activity drive market consolidation. Sophisticated cultivation technologies, retail expansion, and branding enhance accessibility. Social equity programs and public acceptance also drive long-term growth, positioning cannabis as a dynamic, changing industry.

Report Coverage

This research report categorizes the market for the US cannabis market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the U.S. cannabis market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the USA cannabis market.

Driving Factors

Major drivers of the US cannabis market are increasing healthcare uses, with cannabis employed to treat pain and mental health. State legalization is promoted by tax revenue benefits. Changing consumer trends promote wellness and alternative medicine. Online sales and delivery enhance accessibility. Technological developments in extraction and cultivation enhance product quality. Corporate investment and hiring increase industry stability. Finally, public education campaigns reduce stigma, propelling market acceptance and growth.

Restraining Factors

Primary restrictions encompass federal ban, banking limits, excessive taxation, intricate state legislation, black market competition, product safety issues, and licensing obstacles, which all discourage business profitability and market expansion.

Market Segmentation

The United States cannabis market share is classified into source, derivatives, and cultivation.

• The marijuanas segment accounted for the largest share of the US cannabis market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

On the basis of source, the United States cannabis market is divided into hemp, marijuanas. Among these, the marijuanas segment accounted for the largest share of the United States cannabis market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is because of its market dominance in medical and adult-use sales, collecting more revenue than hemp-derived products. Marijuana's greater THC concentration fuels demand, particularly in states with legal adult-use markets. Hemp-derived CBD is readily available, but marijuana-based products fetch premium prices and greater consumer demand, gaining market leadership.

• The THC segment accounted for a substantial share of the U.S. cannabis market in 2023 and is anticipated to grow at a rapid pace during the projected period.           

On the basis of derivatives, the U.S. cannabis market is divided into CBD, THC. Among these, the THC segment accounted for a substantial share of the U.S. cannabis market in 2023 and is anticipated to grow at a rapid pace during the projected period.    This is due to their control over recreational and medical cannabis retail sales. THC products, such as flower, edibles, and vapes, produce more revenue since they are retailed in licensed dispensaries. Though CBD is favored for wellness and pet items, THC's psychoactive properties stimulate more consumer demand and market value.

• The indoor cultivation segment accounted for the largest share of the US cannabis market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

On the basis of cultivation, the United States cannabis market is divided into indoor cultivation, outdoor cultivation. Among these, the indoor cultivation segment accounted for the largest share of the United States cannabis market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.   This due to year-round production, higher potency, and consistent quality. Indoor facilities provide controlled environments, lessening the threats of pests and weather. Though outdoor cultivation is cheaper, indoor-grown cannabis fetches premium prices, rendering it the better option for medical and recreational markets, particularly in states with heavy regulations.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the USA cannabis market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Tilray Brands
• Canopy Growth Corporation
• Medical Marijuana, Inc.
• Aurora Cannabis
• CHARLOTTE’S WEB
• The Cronos Group
• Organigram Holding, Inc
• NuLeaf Naturals, LLC
• CV Sciences, Inc.
• Irwin Naturals
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the USA, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the US cannabis market based on the below-mentioned segments:

United States Cannabis Market, By Source

• Hemp
• Marijuanas

United States Cannabis Market, By Derivatives

• CBD
• THC

United States Cannabis Market, By Cultivation

• Indoor Cultivation
• Outdoor Cultivation