The U.S. cannabinoids market was valued at USD 18.14 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 15.3% from 2023 to 2030. This market growth is primarily driven by increasing consumer awareness regarding the health and therapeutic benefits of cannabinoids. The presence of medicinal phytocannabinoids in cannabis is encouraging the adoption of cannabinoids for medical applications. Additionally, expanding research in the cannabinoid sector and the rising demand for cannabinoid-based products are further accelerating market expansion.

Several companies within the U.S. are actively developing specialty cannabinoid products to capitalize on the growing market. For example, in March 2023, Gene Pool Technologies, LLC announced the acquisition of the cannabis patent portfolio of Insectergy, LLC. This strategic move is aimed at strengthening their position as a key player in cannabis manufacturing and production. Furthermore, the legalization of cannabis for recreational use has significantly boosted the demand for THC-based products, attracting new entrants into the market.

The introduction of innovative cannabinoid products, along with collaborative efforts and partnerships by leading players, is further propelling market growth. In March 2023, CannaAid launched H4-CBD products, becoming the first company to introduce and distribute them both in the U.S. and internationally. That same month, Innocan Pharma Corporation LTD. secured a U.S. patent for its cannabis-based topical products designed for pain relief.

Despite promising growth, the market faces challenges, notably the high costs associated with cannabinoid-based products. Minor cannabinoids such as CBG, CBC, and CBN are naturally found in low concentrations and require complex extraction processes, making them expensive and less accessible to the broader population. Even more common cannabinoids like CBD and THC remain costlier than conventional pharmaceuticals used for similar therapeutic purposes.

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Key Market Trends & Insights

• By Type: The cannabidiol (CBD) segment accounted for the largest revenue share at 26.7% in 2022 and is expected to maintain steady growth through the forecast period.
• By Application: Neurological disorders led the application segment with a 22.1% share in 2022 and are projected to grow at a notable pace throughout the forecast period.

Market Size & Forecast

• 2022 Market Size: USD 18.14 Billion
• 2030 Projected Market Size: USD 60.36 Billion
• CAGR (2023–2030): 15.3%

Key Companies & Market Share Insights

Industry participants are actively working to enhance product lines to improve patient outcomes and overall healthcare effectiveness. For instance, in March 2023, Corganics entered into a partnership with OrthoLoneStar to provide access to its clinical CBD therapies.

Other prominent players in the U.S. cannabinoids market include:

• Mile High Labs International
• Global Cannabinoids
• GenCanna
• CBD INC
• Precision Plant Molecules
• Rhizo Sciences
• LaurelCrest
• Fresh Bros Hemp Company
• BulKanna
• High Purity Natural Products
• Zero Point Extraction

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Conclusion

The U.S. cannabinoids market is undergoing rapid transformation, fueled by expanding research, favorable regulatory changes, and growing consumer demand for therapeutic cannabis-based products. Although high production costs and pricing challenges for minor cannabinoids may constrain accessibility, the continued innovation, partnerships, and strategic market entries are expected to sustain strong growth momentum through 2030.