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PUBLISHER: Grand View Research | PRODUCT CODE: 1300977

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PUBLISHER: Grand View Research | PRODUCT CODE: 1300977

U.S. Cannabinoids Market Size, Share & Trends Analysis Report By Product Type (Tetrahydrocannabinol (THC), Cannabidiol (CBD), Cannabigerol (CBG)), By Application (Inflammation, Pain Management), And Segment Forecasts, 2023 - 2030

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U.S. Cannabinoids Market Growth & Trends

The U.S. cannabinoids market size is expected to reach USD 60.36 billion by 2030, registering a CAGR of 15.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing number of consumers opting for isolated cannabinoid products aided by growing clinical studies to understand and expand applications associated with cannabinoids is driving the growth of the overall market in the U.S. Moreover, the growing new entrants in the market further leading to the expansion of the availability of products is propelling this growth.

The growing benefits associated with cannabinoids on health have been showing affirmative results in a number of research and clinical trials, which has led to expansion in the use of cannabinoids, such as CBD, for various conditions, which in turn has increased the demand for cannabinoid products in the country. In addition, the rising prescription of cannabinoids by medical practitioners, mainly CBD, for certain health conditions has further helped in increasing the demand for these products. For instance, according to a survey of dermatologists carried out in the U.S., in 2020, out of 7176 respondents, around 91% were affirmative about prescribing CBD-based products to their patients. However, the major reason for the non-recommendation of cannabis for medical use was due to the lack of or limited knowledge associated with cannabinoids.

Moreover, many studies suggest affirmative results of cannabis use in reducing the instances of nausea and vomiting caused by chemotherapy. Some other adverse effects of cancer treatment are Chemotherapy-induced Peripheral Neuropathy (CIPN). Multiple clinical trials and research studies are ongoing to develop cannabis-based medication for treating CIPN. For instance, in June 2022, a study to assess the efficacy of topical CBD in managing symptoms of CIPN was sponsored by Mayo Clinic in collaboration with National Cancer Institute, and this study is expected to be completed by April 2024.

Furthermore, major companies are collaborating for the development of novel applications linked with cannabinoids to meet the rising demand which enables businesses to use their resources to help with improvements in supply chain and product development. Moreover, a number of players are also focusing on product launches to expand their product portfolio. For instance, in February 2023, SAVO Cannabis received funding from Brightsmith Capital Partners for the development of new cannabis cultivation genetic facility focusing on the development of cannabis for specific effects majorly targeting body and mind for life-enhancing purposes.

U.S. Cannabinoids Market Report Highlights

  • In 2022, Cannabidiol (CBD) segment held the largest share of 26.7% owing to the adoption of CBD not only in medication but also in activities such as sports recovery, wellness, beauty, and skincare
  • Pain management segment is anticipated to grow at the fastest CAGR due to the increasing prevalence of chronic pain and analgesic properties associated with cannabinoids
  • Neurological disorders segment accounted for a significant market share of 22.1% in 2022 due to the growing research associated with the use of cannabinoids in neurological conditions with the increasing prevalence of the conditions
  • The increasing availability of minor cannabinoids is expected to drive the growth of the overall market as consumers seek out new and innovative products containing these compounds
  • Key players dominating the market include Mile High Labs; Global Cannabinoids; GenCanna; High Purity Natural Products; Rhizo Sciences; CBD Inc.; LaurelCrest; Fresh Bros Hemp Company; Precision Plant Molecules; BulKanna; Zero Point Extraction, LLC
Product Code: GVR-4-68039-255-9

Table of Contents

Chapter 1 Methodology and Scope

  • 1.1 Market Segmentation and Scope
    • 1.1.1 Segment scope
    • 1.1.2 Regional scope
    • 1.1.3 Estimates and forecast timeline
  • 1.2 Research Methodology
  • 1.3 Information Procurement
    • 1.3.1 Purchased database:
    • 1.3.2 GVR's internal database
    • 1.3.3 Secondary sources
    • 1.3.4 Primary research
    • 1.3.5 Details of primary research
  • 1.4 Information or Data Analysis
    • 1.4.1 Data analysis models
  • 1.5 Market Formulation & Validation
  • 1.6 Model Details
    • 1.6.1 Commodity Flow Analysis
      • 1.6.1.1 Approach: Commodity Flow Approach
  • 1.7 Research Assumptions
  • 1.8 List of Secondary Sources
  • 1.9 List of Abbreviations
  • 1.10 Objectives
    • 1.10.1 Objective 1
    • 1.10.2 Objective 2
    • 1.10.3 Objective 3
    • 1.10.4 Objective 4

Chapter 2 Executive Summary

  • 2.1 Market Outlook
  • 2.2 Segment Outlook
  • 2.3 Competitive Insights

Chapter 3 U.S. Cannabinoids Market Variables, Trends, & Scope

  • 3.1 Market Lineage Outlook
    • 3.1.1 Parent market
  • 3.2 Regulatory Scenario
  • 3.3 Market Dynamics
    • 3.3.1 Market drivers analysis
      • 3.3.1.1 Growing number of new entrants in the market leading to expansion in product availability
      • 3.3.1.2 Increasing number of consumers opting for isolated cannabinoid products
      • 3.3.1.3 Growing number of clinical studies on the use of cannabinoids for specific applications
      • 3.3.1.4 Rising awareness about cannabinoid products and their use in health and wellness
    • 3.3.2 Market restraint analysis
      • 3.3.2.1 High price of cannabinoids-based products
      • 3.3.2.2 Expensive extraction processes for cannabinoids
      • 3.3.2.3 Absence of definite regulatory framework for minor cannabinoids
      • 3.3.2.4 Limited research is hindering the growth of the cannabinoids market
  • 3.4 U.S. Cannabinoids Market Analysis Tools
    • 3.4.1 U.S. Cannabinoids Market - PESTLE Analysis
    • 3.4.2 U.S. Cannabinoids Market - PORTER'S Analysis
  • 3.5 COVID Impact Analysis
  • 3.6 Supply Chain Analysis
    • 3.6.1 Supply Chain Analysis - CBD Consumer Health Product
  • 3.7 Product Adoption Pattern Analysis
    • 3.7.1 Cannabidiol (CBD)
    • 3.7.2 Tetrahydrocannabinol (THC)
    • 3.7.3 Cannabinol (CBN)
    • 3.7.4 Cannabidiolic Acid (CBDA)
    • 3.7.5 Others
      • 3.7.5.1 Cannabigerol (CBG)
      • 3.7.5.2 Cannabichromene (CBC)
  • 3.8 Biosynthetic Cannabinoids
  • 3.9 Upcoming Trends in U.S. Minor Cannabinoids Market
    • 3.9.1 Diversification Of Products:
    • 3.9.2 Increased Availability Of Minor Cannabinoids:
    • 3.9.3 More Brands Entering The Market:
    • 3.9.4 Growing Demand For Natural Remedies:
  • 3.10 TAM-SAM-SOM Analysis
  • 3.11 Transcript of an industry KOL
  • 3.12 Key Analysis from the Primary Respondents

Chapter 4 U.S. Cannabinoids Market Segment Analysis, By Product Type, 2018 - 2030 (USD Million)

  • 4.1 Definition and Scope
  • 4.2 Product Type Market Share Analysis, 2022 & 2030
  • 4.3 Segment Dashboard
  • 4.4 U.S. Cannabinoids Market, by Product Type, 2018 to 2030
  • 4.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030
    • 4.5.1 Cannabidiol (CBD)
      • 4.5.1.1 Cannabidiol (CBD) market estimates and forecast, 2018 - 2030 (USD Million)
    • 4.5.2 Tetrahydrocannabinol (THC)
      • 4.5.2.1 Tetrahydrocannabinol (THC) market estimates and forecast, 2018 - 2030 (USD Million)
    • 4.5.3 Cannabinol (CBN)
      • 4.5.3.1 Cannabinol (CBN) market estimates and forecast, 2018 - 2030 (USD Million)
    • 4.5.4 Cannabigerolic Acid (CBGA)
      • 4.5.4.1 Cannabigerolic acid (CBGA) market estimates and forecast, 2018 - 2030 (USD Million)
    • 4.5.5 Cannabigerol (CBG)
      • 4.5.5.1 Cannabigerol (CBG) market estimates and forecast, 2018 - 2030 (USD Million)
    • 4.5.6 Cannabichromene (CBC)
      • 4.5.6.1 Cannabichromene (CBC) market estimates and forecast, 2018 - 2030 (USD Million)
    • 4.5.7 Tetrahydrocannabivarin (THCV)
      • 4.5.7.1 Tetrahydrocannabivarin (THCV) market estimates and forecast, 2018 - 2030 (USD Million)
    • 4.5.8 Others
      • 4.5.8.1 Others market estimates and forecast, 2018 - 2030 (USD Million)

Chapter 5 U.S. Cannabinoids Market Segment Analysis, By Application 2018 - 2030 (USD Million)

  • 5.1 Definition and Scope
  • 5.2 Application Market Share Analysis, 2022 & 2030
  • 5.3 Segment Dashboard
  • 5.4 U.S. Cannabinoids Market, by Application, 2018 to 2030
  • 5.5 Market Size & Forecasts and Trend Analyses, 2018 to 2030
    • 5.5.1 Inflammation
      • 5.5.1.1 Inflammation market estimates and forecast, 2018 - 2030 (USD Million)
    • 5.5.2 Pain Management
      • 5.5.2.1 Pain management market estimates and forecast, 2018 - 2030 (USD Million)
    • 5.5.3 Neurological Disorders
      • 5.5.3.1 Neurological disorders market estimates and forecast, 2018 - 2030 (USD Million)
    • 5.5.4 Cancer
      • 5.5.4.1 Cancer market estimates and forecast, 2018 - 2030 (USD Million)
    • 5.5.5 Others
      • 5.5.5.1 Others market estimates and forecast, 2018 - 2030 (USD Million)

Chapter 6 U.S. Cannabinoids Market - Competitive Analysis

  • 6.1 Recent Developments & Impact Analysis, by Key Market Participants
    • 6.1.2 Heat map analysis
    • 6.1.3 Major Deals and Strategic Alliances Analysis
      • 6.1.3.1 Joint Ventures
      • 6.1.3.2 Licensing Agreements
      • 6.1.3.3 Product Launches
  • 6.2 Company Categorization
    • 6.2.1 Innovators
    • 6.2.2 Market Leaders
  • 6.3 Company Market Position Analysis
  • 6.4 Company Profiles
    • 6.4.1 Mile High Labs
      • 6.4.1.1 Company overview
      • 6.4.1.2 Financial performance
      • 6.4.1.3 Product benchmarking
      • 6.4.1.4 Strategic Initiatives
    • 6.4.2 Global Cannabinoids
      • 6.4.2.1 Company overview
      • 6.4.2.2 Financial performance
      • 6.4.2.3 Product benchmarking
      • 6.4.2.4 Strategic Initiatives
    • 6.4.3 GenCanna
      • 6.4.3.1 Company overview
      • 6.4.3.2 Financial performance
      • 6.4.3.3 Product benchmarking
      • 6.4.3.4 Strategic Initiatives
    • 6.4.4 CBD Inc.
      • 6.4.4.1 Company overview
      • 6.4.4.2 Financial performance
      • 6.4.4.3 Product benchmarking
      • 6.4.4.4 Strategic Initiatives
    • 6.4.5 Precision Plant Molecules
      • 6.4.5.1 Company overview
      • 6.4.5.2 Financial performance
      • 6.4.5.3 Product benchmarking
      • 6.4.5.4 Strategic Initiatives
    • 6.4.6 Rhizo Sciences
      • 6.4.6.1 Company overview
      • 6.4.6.2 Financial performance
      • 6.4.6.3 Product benchmarking
      • 6.4.6.4 Strategic Initiatives
    • 6.4.7 LaurelCrest
      • 6.4.7.1 Company overview
      • 6.4.7.2 Financial performance
      • 6.4.7.3 Product benchmarking
      • 6.4.7.4 Strategic initiatives
    • 6.4.8 Fresh Bros Hemp Company
      • 6.4.8.1 Company overview
      • 6.4.8.2 Financial performance
      • 6.4.8.3 Product benchmarking
      • 6.4.8.4 Strategic initiatives
    • 6.4.9 BulKanna
      • 6.4.9.1 Company overview
      • 6.4.9.2 Financial performance
      • 6.4.9.3 Product benchmarking
      • 6.4.9.4 Strategic initiatives
    • 6.4.10 High-Purity Natural Products
      • 6.4.10.1 Company overview
      • 6.4.10.2 Financial performance
      • 6.4.10.3 Product benchmarking
      • 6.4.10.4 Strategic initiatives
    • 6.4.11 Zero Point Extraction, LLC
      • 6.4.11.1 Company overview
      • 6.4.11.2 Financial performance
      • 6.4.11.3 Product benchmarking
      • 6.4.11.4 Strategic initiatives
Product Code: GVR-4-68039-255-9

List of Tables

  • Table 1 List of Secondary Sources
  • Table 2 List of Abbreviations
  • Table 3 Key companies undergoing collaboration
  • Table 4 Key companies undergoing partnership
  • Table 5 Key companies undergoing product launch
  • Table 6 Key companies undergoing new products/services

List of Figures

  • Fig. 1 U.S. 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 Market outlook (2022)
  • Fig. 10 Strategy framework
  • Fig. 11 Market driver relevance analysis (Current & future impact)
  • Fig. 12 Market restraint relevance analysis (Current & future impact)
  • Fig. 13 Penetration & growth prospect mapping
  • Fig. 14 Porter's five forces analysis
  • Fig. 15 PESTLE analysis
  • Fig. 16 U.S. cannabinoids market: Product type movement analysis
  • Fig. 17 U.S. cannabinoids market: Product type segment dashboard
  • Fig. 18 U.S. cannabinoids market product type outlook: Key takeaways
  • Fig. 19 Tetrahydrocannabinol (THC) U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 20 Cannabidiol (CBD) U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 21 Cannabigerol (CBG) U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 22 Cannabichromene (CBC) U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 23 Cannabinol (CBN) U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 24 Tetrahydrocannabivarin (THCV) U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 25 Cannabigerolic Acid (CBGA) U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 26 Others U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 27 U.S. cannabinoids market: Application movement analysis
  • Fig. 28 U.S. cannabinoids market: Application segment dashboard
  • Fig. 29 U.S. cannabinoids market Application outlook: Key takeaways
  • Fig. 30 Inflammation U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 31 Pain Management U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 32 Neurological Disorders U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 33 Cancer U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 34 Others U.S. cannabinoids market estimates and forecast, 2018 - 2030 (USD Million)
  • Fig. 35 Heat map analysis
  • Fig. 36 Market differentiators
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