Latest Market Research Reports

  U.S. Minor Cannabinoids Industry The  U.S. minor cannabinoids market  size is expected to reach USD 33.3 billion by 2030, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.0% from 2024 to 2030. Rising use of cannabinoid-based products and awareness regarding the health benefits associated with cannabinoid consumption are some of the crucial factors supporting the growth. Minor cannabinoids have potential therapeutic benefits, including anti-inflammatory, analgesic, and neuroprotective effects. There is a growing interest in developing pharmaceuticals and nutraceuticals containing minor cannabinoids for the treatment of various medical conditions, such as chronic pain, anxiety, and sleep disorders. For instance, in January 2021, Lygos, Inc. announced the commercial availability of cannabichromene (CBC) that has a wide range of anti-inflammatory, antioxidant, and pain management properties. Wellness products such as sup...

  U.S. Minor Cannabinoids Industry Overview The U.S. minor cannabinoids market size was valued at USD 4.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 20.1% from 2021 to 2028. The rising trend of adopting cannabinoid-based medicines over traditional medicines, owing to their affirmative health benefits for many health conditions such as chronic pain, cancer, arthritis, neurological disorders, and metabolic disorders is a key factor supporting the market growth. The rising acceptance of cannabis-based medications by consumers as well as medical practitioners is further bolstering the growth. The approval of the Farm Bill in 2018 has led to an increase in the awareness and adoption of cannabis-related products in the country. It has also created numerous opportunities, thereby proving to be beneficial in increasing the research and funding for cannabis and its derivatives. Furthermore, in recent years, minor cannabinoids have gained impetus and...