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Cannabinoids Market to Triple to $60 Billion by 2030, CBD Segment leads U.S. Sales

Market analysis by Research and Markets predicts mainstream acceptance of cannabinoids will continue to fuel industry growth.

Published

2 years ago

September 5, 2022

Brad Cheng

As more consumers turn to cannabinoids like CBD and CBGA, a new market analysis sees huge growth for the cannabinoid market. PHOTO HUMBOLDT COUNTY

The U.S. cannabinoids market size is expected to reach $60.4 billion by 2030, more than tripling in size, according to new data from Research and Markets. Sales of cannabinoid products will earn an estimated $18.1 billion in 2022. The growth of cannabinoid sales is expected to expand at a CAGR of 16.2 percent as more people recognize the legitimacy and the health benefits provided by cannabinoids.

In 2021, based on product, the CBD segment dominated the market with a revenue share of 27.2 percent. The growth is attributed to the rising consumption of CBD-based products in sports nutrition, health and wellness, cosmetics and other fields. In addition, players are constantly undertaking strategic initiatives, such as partnerships, collaborations and product launches to expand their revenue share and presence.

According to the report, the overall acceptance of cannabis products increased by 10 percent in the past two years among Americans. That has resulted in more cannabinoid products being brought to market as companies diversify their product portfolio, improve product visibility and gain traction in new customer segments.

CBGA products are expected to expand at the fastest CAGR over the forecast period owing to potential health benefits seen provided by CBGA for various health conditions.

Read the full report, the United States Cannabinoids Market Analysis Report 2022-2030 here.

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