PUBLISHER: Grand View Research | PRODUCT CODE: 1268879
PUBLISHER: Grand View Research | PRODUCT CODE: 1268879
U.S. Minor Cannabinoids Market Size, Share & Trends Analysis Report By Product (Cannabigerol [CBG], Tetrahydrocannabivarin [THCV]), By Application (Cancer, Inflammation, Pain Management), and Segment Forecasts, 2023 - 2030
U.S. Minor Cannabinoids Market Growth & Trends:
The U.S. minor cannabinoids market size is expected to reach USD 33.3 billion by 2030, expanding at a CAGR of 16.4% over the forecast period, according to a new report by Grand View Research, Inc. Rising use of cannabinoid-based products and the increasing awareness regarding health benefits associated with consumption of these products are some of the crucial factors supporting the growth.
There is a growing interest among consumers in natural products that are perceived to be safer and healthier than synthetic alternatives. Thus, the increasing demand for natural products is likely to support industry expansion. Moreover, innovations and new product developments in the form of infused beverages, edibles, and topicals are further fueling the market's growth. For instance, in February 2023, Harpoon Brewery launched its first THC-based beverage Rec Weed.
Minor cannabinoids have been found to have potential therapeutic benefits, including anti-inflammatory, analgesic, and neuroprotective effects. There is a growing interest in developing pharmaceuticals and nutraceuticals containing minor cannabinoids for the treatment of various medical conditions, such as chronic pain, anxiety, and sleep disorders. For instance, in January 2021, Lygos, Inc. announced the commercial availability of cannabichromene (CBC). CBC has a wide range of anti-inflammatory, antioxidant, and pain management properties.
In addition, minor cannabinoids are increasingly being incorporated into wellness products, including supplements, tinctures, and topicals. These products are marketed as natural remedies for a range of health issues and are popular among consumers looking for alternatives to traditional medications. For instance, one such product is Kriva from Nextraction. Kriva is one of the leading personal care products for health and wellness applications.
Furthermore, various organic and inorganic developments done by players to strengthen their business avenues and footprints in U.S. minor cannabinoids industry are anticipated to facilitate market expansion over the forecast period. For instance, in January 2022, Sugarmade, Inc. signed a binding Letter of Intent with GenCann, Inc. to enter the rare cannabinoid market. Thus, such initiatives are anticipated to cater to the demand throughout the forecast period.
U.S. Minor Cannabinoids Market Report Highlights:
- The U.S. minor cannabinoids industry size is anticipated to be valued at USD 33.3 billion by 2030, owing to rising health benefits from cannabis-derived products and supportive legislative norms
- THCV dominated with the highest revenue share in 2022 with a share of 25.5%, owing to the increasing application of THCV in the management of conditions such as arthritis, metabolic disorders, and epilepsy
- In 2022, by application, the others segment accounted for the highest share of 34.8%, owing to the increasing burden of target diseases and rising applications of cannabinoids in the management of such conditions
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation and Scope
- 1.2 Market Definition
- 1.3 Research Methodology
- 1.3.1 Information Procurement
- 1.3.1.1 Purchased Database
- 1.3.1.2 Gvr's Internal Database
- 1.3.2 Primary Research
- 1.3.1 Information Procurement
- 1.4 Research Scope And Assumptions
- 1.5 List Of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Outlook
Chapter 3 U.S. Minor Cannabinoids Market Variables, Trends & Scope
- 3.1 Penetration And Growth Prospect Mapping
- 3.2 Cannabis and Cannabinoids Regulatory Framework in the U.S.
- 3.3 U.S. Cannabinoids Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.2 Market Restraint Analysis
- 3.4 U.S. Minor Cannabinoids Market Analysis Tools
- 3.4.1 Industry Analysis - Porter's
- 3.4.1.1 Bargaining Power Of The Suppliers
- 3.4.1.2 Bargaining Power Of The Buyers
- 3.4.1.3 Threats Of Substitution
- 3.4.1.4 Threats From New Entrants
- 3.4.1.5 Competitive Rivalry
- 3.4.2 PESTLE Analysis
- 3.4.2.1 Political Landscape
- 3.4.2.2 Economic Landscape
- 3.4.2.3 Social Landscape
- 3.4.2.4 Technological Landscape
- 3.4.2.5 Environmental Landscape
- 3.4.2.6 Legal Landscape
- 3.4.1 Industry Analysis - Porter's
- 3.5 Major Deals & Strategic Alliances Analysis
- 3.6 Opportunity Analysis (2016-2022-2030)
- 3.7 Impact of COVID-19 on the U.S. Minor Cannabinoids Market
Chapter 4 U.S. Minor Cannabinoids Market: Competitive Landscape Analysis
- 4.1 Recent Developments & Impact Analysis, By Key Market Participants
- 4.2 Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
- 4.3 Company Market Position Analysis
Chapter 5 U.S. Minor Cannabinoids Market: Product Estimates & Trend Analysis
- 5.1 U.S. Minor Cannabinoids Market: Product Movement Analysis, USD Million, 2020 & 2030
- 5.2 Cannabigerol (CBG)
- 5.2.1 Cannabigerol (CBG) Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 5.3 Cannabichromene (CBC)
- 5.3.1 Cannabichromene (CBC) Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 5.4 Cannabinol (CBN)
- 5.4.1 Cannabinol (CBN) Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 5.5 Tetrahydrocannabivarin (THCV)
- 5.5.1 Tetrahydrocannabivarin (THCV) Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 5.6 Cannabigerolic acid (CBGA)
- 5.6.1 Cannabigerolic Acid (CBGA) Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 5.7 Others
- 5.7.1 Others Market Estimates And Forecasts, 2016 - 2030 (USD Million)
Chapter 6 U.S. Minor Cannabinoids Market: Application Estimates & Trend Analysis
- 6.1 U.S. Minor Cannabinoids Market: Application Movement Analysis, USD Million, 2020 & 2030
- 6.2 Inflammation
- 6.2.1 Inflammation Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 6.3 Pain Management
- 6.3.1 Pain Management Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 6.4 Neurological Disorders
- 6.4.1 Neurological Disorders Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 6.5 Cancer
- 6.5.1 Cancer Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 6.6 Others
- 6.6.1 Others Market Estimates And Forecasts, 2016 - 2030 (USD Million)
Chapter 7 Company Profiles
- 7.1 Mile High Labs
- 7.1.1 Company overview
- 7.1.2 Financial performance
- 7.1.3 Product benchmarking
- 7.1.4 Strategic initiatives
- 7.2 Global Cannabinoids
- 7.2.1 Company overview
- 7.2.2 Financial performance
- 7.2.3 Product benchmarking
- 7.2.4 Strategic initiatives
- 7.3 GenCanna
- 7.3.1 Company overview
- 7.3.2 Financial performance
- 7.3.3 Product benchmarking
- 7.3.4 Strategic initiatives
- 7.4 CBD Inc.
- 7.4.1 Company overview
- 7.4.2 Financial performance
- 7.4.3 Product benchmarking
- 7.4.4 Strategic initiatives
- 7.5 Precision Plant Molecules
- 7.5.1 Company overview
- 7.5.2 Financial performance
- 7.5.3 Product benchmarking
- 7.5.4 Strategic initiatives
- 7.6 Rhizo Sciences
- 7.6.1 Company overview
- 7.6.2 Financial performance
- 7.6.3 Product benchmarking
- 7.6.4 Strategic initiatives
- 7.7 LaurelCrest
- 7.7.1 Company overview
- 7.7.2 Financial performance
- 7.7.3 Product benchmarking
- 7.7.4 Strategic initiatives
- 7.8 Fresh Bros Hemp Company
- 7.8.1 Company overview
- 7.8.2 Financial performance
- 7.8.3 Product benchmarking
- 7.8.4 Strategic initiatives
- 7.9 BulKanna
- 7.9.1 Company overview
- 7.9.2 Financial performance
- 7.9.3 Product benchmarking
- 7.9.4 Strategic initiatives
- 7.10 High Purity Natural Products
- 7.10.1 Company overview
- 7.10.2 Financial performance
- 7.10.3 Product benchmarking
- 7.10.4 Strategic initiatives
- 7.11 ZERO POINT EXTRACTION, LLC
- 7.11.1 Company overview
- 7.11.2 Financial performance
- 7.11.3 Product benchmarking
- 7.11.4 Strategic initiatives
- 7.12 List of Other Companies
List of Tables
- Table 1 Partial list of secondary sources
- Table 2 List of Abbreviations
- Table 3 Key companies undertaking collaborations.
- Table 4 Key companies undertaking Product launches
List of Figures
- Fig. 1 U.S. minor cannabinoids market segmentation
- Fig. 2 Market research process
- Fig. 3 Information procurement
- Fig. 4 Primary research pattern
- Fig. 5 Market research approaches
- Fig. 6 Value chain-based sizing & forecasting
- Fig. 7 QFD modeling for market share assessment
- Fig. 8 Market formulation & validation
- Fig. 9 U.S. minor cannabinoids market snapshot, 2022 (USD Million)
- Fig. 10 Penetration & growth prospects mapping
- Fig. 11 U.S. minor cannabinoids market dynamics
- Fig. 12 U.S. minor cannabinoids market driver impact
- Fig. 13 U.S. minor cannabinoids market restraints impact
- Fig. 14 U.S. minor cannabinoids market - PESTLE analysis
- Fig. 15 U.S. minor cannabinoids market - Porter's Analysis
- Fig. 16 Opportunity analysis (2016-2022-2030)
- Fig. 17 Recent Developments & Impact Analysis, By Key Market Participants
- Fig. 18 Company Market Position Analysis
- Fig. 19 U.S. minor cannabinoids market, Product outlook: Key takeaways
- Fig. 20 U.S. minor cannabinoids market: Product movement analysis (2022 & 2030) (USD Million)
- Fig. 21 Cannabigerol (CBG) market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 22 Cannabichromene (CBC) market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 23 Cannabinol (CBN) market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 24 Tetrahydrocannabivarin (THCV) market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 25 Cannabigerolic acid (CBGA) market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 26 Other minor cannabinoids market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 27 U.S. minor cannabinoids market, Application outlook: Key takeaways
- Fig. 30 U.S. minor cannabinoids market: Application movement analysis (2020 & 2030) (USD Million)
- Fig. 29 Inflammation market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 30 Pain management market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 31 Neurological disorders market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 32 Cancer market estimates and forecasts, 2016 - 2030 (USD Million)
- Fig. 33 Others market estimates and forecasts, 2016 - 2030 (USD Million)
