Cannabis Market Size, Share, Growth Analysis, By Compound(THC-dominant, Balanced THC & CBD and CBD-dominant), By Application(Medical, Recreational and Others), By Product Type(Buds or Marijuana Flower and Cannabis Extracts), By Region - Industry Forecast 2024-2031

In North America today, most of the global weed industry is controlled by them due to their logical regulations and suitable infrastructures. The principal actors here are represented by such two countries: the USA (with an extensive network of dispensaries) and Canada (which has rich legal systems). As a result, there has been a significant increase in consumption patterns as well as overall business expansion in the USA following legalization on state level for both health purposes and leisure use exclusively. Because the nationwide law in Canada has established a regime for processing and regulatory procedures, North America is outperforming other countries by using cutting-edge technologies that can produce, process and distribute cannabis. This will not only strengthen cannabis market share but also contribute to growth while positioning it to have a leading role in the global economy. 

In the world, Europe is one of the cannabis industry region with the fastest rate of growth due to increased acceptance of medical cannabis and changes to regulations that are kept making them more lenient. In nations such as Germany, Netherlands and UK, there have been recent legalization initiatives which have created possibilities for market growth as well as stimulated extensive research and investments. The European Union is increasingly supporting medical cannabis to gain market traction and ensure product quality among its member states through uniform regulations. Alongside this, an innovation and clinical trial climate are reinvigorating Europe’s growing interest in cannabis as an ailment remedy positioning the continent for rapid uptake in global trade.