North America Legal Cannabis Market Outlook 2024–2030: Growth, Trends, and Forecast
The North America legal cannabis market was valued at USD 36.70 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 11.9% from 2024 to 2030. The market’s robust expansion is primarily fueled by the ongoing legalization of cannabis across multiple U.S. states and Canadian provinces, as well as the increasing awareness of its therapeutic and wellness-related benefits. For example, in May 2023, the Government of Minnesota legalized cannabis for recreational use, making it the 23rd U.S. state to allow adult-use cannabis. Similarly, Kentucky’s General Assembly passed legislation to legalize medical cannabis, set to take effect in January 2025, further expanding the market landscape. A significant contributor to the growing demand is the increased need for pain management solutions, particularly among individuals suffering from chronic and high-impact pain. The growing burden of chronic pain disorders is driving patients to seek alternati...