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The North America legal cannabis market size was nearly USD 26.57 Billion in 2024. The industry is further expected to grow at a CAGR of 26.80% over the forecast period of 2025-2034 to attain USD 285.49 Billion by 2034.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

  • States and territories in the United States are increasingly legalising recreational cannabis to reduce law enforcement costs, generate revenue, and regulate the market for safety and quality control. As of January 2025, 24 states, along with Washington D.C., in the United States have legalised recreational use of cannabis for adults 21 years and older. As more states legalise recreational cannabis, key players in the legal cannabis market are investing in cannabis cultivation, distribution, production, and retail while diversifying their product offerings to cater to evolving customer demands.
  • In countries like the United States and Canada, cannabis is emerging as a mainstream product due to the evolving regulatory landscape, shifting public perceptions, and rising awareness regarding its recreational and medicinal benefits. In 2021, approximately 52.5 million people or nearly 19% of Americans used cannabis at least once. With an increasing number of individuals turning to legal cannabis, there is likely to be an influx of cannabis-related businesses and retail outlets.
  • Consumers are increasingly shifting from smoking to edible-based cannabis products due to their convenience and the growing awareness regarding respiratory risks associated with smoking cannabis. In Canada, while smoking cannabis decreased from 89% in 2018 to 69% in 2024, eating/drinking cannabis surged from 43% in 2018 to 57% in 2024. This rising popularity of cannabis-infused food and beverages is expected to drive investments in the development of innovative cannabis drinks, edibles, baked goods, gummies, and chocolates, among others.

Competitive Landscape

Key North America legal cannabis market players are expanding their product portfolios to include CBD-infused beauty and wellness products, topicals, edibles, vapes, and beverages for both medicinal and recreational use. Legal cannabis companies in North America are also actively investing in research activities to develop innovative cannabis formulations and delivery methods.

Key Industry Players

Tilray

Tilray, founded in 2013 and headquartered in New York, United States, is a prominent lifestyle and consumer packaged goods company. The company is a pioneer in the production, development and research of medicinal cannabis. It supplies medical cannabis to patients in 18 countries across the world.

Marijuana Company of America, Inc

Marijuana Company of America, Inc., headquartered in California, United States, is an operator and owner of licensed cannabis processing, cultivation, and dispensary facilities. Its wholly owned subsidiary cDistro, Inc. offers CBD brands and smoke and vape shop-related products to speciality retailers, wholesalers, and consumers in North America.

The comprehensive EMR report provides an in-depth assessment of the industry, providing an insight into the various trends in the market, based on the Porter's five forces model along with giving a SWOT analysis.

North America Legal Cannabis Market Report Snapshots

North America Legal Cannabis Market Size

North America Legal Cannabis Market Analysis

North America Legal Cannabis Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the North America legal cannabis market attained a value of nearly USD 26.57 Billion.

The market is projected to grow at a CAGR of 26.80% between 2025 and 2034.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach about USD 285.49 Billion by 2034.

The major drivers of the market are the increasing awareness regarding the health benefits of cannabis, growing utilisation of product for recreational purposes, increasing geriatric population, rising demand for cannabis in the medical sector, and favourable government policies.

The key trends guiding the growth of the legal cannabis market include the launch of enhanced cannabis-based products and the growing investment by the government and private organisations in the research and development activities.

The major regional markets are the United States of America and Canada.

Marijuana and industrial hemp represent the major type of products derived in the market.

The regulated dispensary, recreational stores, and stand-alone retailers are the most significant distribution channels of legal cannabis in the market.

The major players in the  North America legal cannabis market are Tilray, and Marijuana Company of America, Inc, among others.

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