Canada Medical Marijuana Market Size & Outlook, 2023-2030
The medical marijuana market in Canada is expected to reach a projected revenue of US$ 4,569.5 million by 2030. A compound annual growth rate of 15.5% is expected of Canada medical marijuana market from 2024 to 2030.
- Cannabis
- Marijuana
- Medical Marijuana Market Outlook
- Marijuana
Revenue, 2023 (US$M)
$1,665.6
Forecast, 2030 (US$M)
$4,569.5
CAGR, 2024 - 2030
15.5%
Report Coverage
Canada
Canada Medical Marijuana Market, 2018-2030 (US$M)
Global Market
Related Markets
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Canada medical marijuana market highlights
- The Canada medical marijuana market generated a revenue of USD 1,665.6 million in 2023 and is expected to reach USD 4,569.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 15.5% from 2024 to 2030.
- In terms of segment, oil and tinctures was the largest revenue generating product in 2023.
- Oil and Tinctures is the most lucrative product segment registering the fastest growth during the forecast period.
Medical marijuana market data book summary
| Market revenue in 2023 | USD 1,665.6 million |
| Market revenue in 2030 | USD 4,569.5 million |
| Growth rate | 15.5% (CAGR from 2023 to 2030) |
| Largest segment | Oil and tinctures |
| Fastest growing segment | Oil and Tinctures |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Flower, Oil and Tinctures |
| Key market players worldwide | Tilray Brands Inc, Aurora Cannabis Inc, Canopy Growth Corp, Aphria Inc, Wayland Group Corp, Aurora Cannabis, GW Pharmaceuticals, Cannabis Sativa Inc, Medical Marijuana Inc |
Other key industry trends
- In terms of revenue, Canada accounted for 10.0% of the global medical marijuana market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. medical marijuana market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 4,569.5 million by 2030.
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Medical Marijuana Market Scope
Medical Marijuana Market segmentation & scope
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Medical Marijuana Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Aurora Cannabis Inc | View profile | 1,130 | 3498 63 Avenue, Leduc, AB, Canada, T9E 0G8 | www.auroramj.com |
| Canopy Growth Corp | View profile | 1,621 | 1 Hershey Drive, Smiths Falls, ON, Canada, K7A 0A8 | www.canopygrowth.com |
| Tilray Brands Inc | View profile | 1,600 | 265 Talbot Street West, Leamington, ON, Canada, N8H 5L4 | www.tilray.com |
| Aphria Inc | View profile | 501-1000 | Leamington, Ontario, Canada, North America | aphriainc.com/ |
| Aurora Cannabis | View profile | 1001-5000 | Edmonton, Alberta, Canada, North America | auroramj.com |
| GW Pharmaceuticals | View profile | 51-100 | Histon, Cambridgeshire, United Kingdom, Europe | gwpharm.com |
| Medical Marijuana Inc | View profile | 85 | 2384 La Mirada Drive, Vista, CA, United States, 92081 | www.medicalmarijuanainc.com |
| Wayland Group Corp | View profile | - | 845 Harrington Court, Unit 3, Burlington, ON, Canada, L7N 3P3 | www.waylandgroup.com |
| Cannabis Sativa Inc | View profile | 7 | 355 West Mesquite Boulevard, No. C70, Mesquite, NV, United States, 89027 | www.cannabissativainc.com |
Canada Medical Marijuana Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Medical Marijuana Market Outlook will help companies and investors design strategic landscapes.
Oil And Tinctures was the largest segment with a revenue share of 54.73% in 2023.
Horizon Databook has segmented the Canada medical marijuana market based on flower, oil and tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
- Canada Medical Marijuana Market Product Outlook (Revenue, USD Million , 2018-2030)
- Flower
- Oil and Tinctures
- Canada Medical Marijuana Market Application Outlook (Revenue, USD Million , 2018-2030)
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada Medical Marijuana Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Canada Medical Marijuana Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Canada Medical Marijuana Market, 2018-2030 (US$M)
Canada medical marijuana market statistics, by product, 2018-2030 (US$M)
