The U.S. cannabis industry is on track to reach a market value of $76.39 billion by 2030, according to a new report from Research and Markets.
This would represent an 11.5% compound annual growth rate (CAGR) from 2025 through the end of the decade, fueled by expanding legalization, increased consumer demand, and innovations in cultivation and product development.
Cannabis use in the U.S. continues to grow, both for recreational and medical purposes, notes the report. Marijuana is commonly used to treat cancer-related symptoms, pain, mental health conditions, and nausea. According to the American Cancer Society, over 1.95 million new cancer cases were expected in 2023 alone, underscoring the potential demand for marijuana-based therapies. The FDA has already approved cannabinoid-based drugs like nabilone and dronabinol to treat chemotherapy-related nausea.
Rising public awareness of cannabis’ therapeutic value and a wave of educational programs are also driving market growth. For example, in December 2023, Bellarmine University in Kentucky launched a cannabis education certificate program covering key industry sectors such as agriculture, law, and medicine.
Meanwhile, celebrities and mainstream brands continue to enter the cannabis space. Jay-Z’s Monogram and Snoop Dogg’s various ventures have helped push the plant further into popular culture, even as consumers question how directly involved these figures are in the cultivation process.
The marijuana segment remains the dominant force in the industry, accounting for 87.7% of total cannabis revenue in 2024. Recreational marijuana made up 66.9% of that market and is expected to see the highest growth moving forward. CBD products represented 63.3% of revenue in the derivatives category. Indoor cultivation also leads the production space with over half the market share in 2024.
Advancements in growing techniques and technology continue to boost efficiency and output, enabling producers to meet rising demand while reducing resource use.
Major companies involved in the U.S. cannabis market include Medical Marijuana, Inc., NuLeaf Naturals, LLC, CV Sciences, Inc., Charlotte’s Web, The Cronos Group, Organigram Holding, Inc., Irwin Naturals, Tilray Brands, Canopy Growth Corporation, and Aurora Cannabis.
