Cannabis Capsule Global Market Report 2024

The cannabis capsule market size has grown exponentially in recent years. It will grow from $31.96 billion in 2023 to $38.75 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The growth observed in the historical period can be attributed to various factors, including advancements in research and development within the cannabis industry, increased medical requirements driving the demand for cannabis-based products, and overall growth in research and development activities focused on cannabis capsules.

The cannabis capsule market size is expected to see rapid growth in the next few years. It will grow to $79.2 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The anticipated growth in the forecast period can be attributed to various factors, including an increase in neurological disorders leading to a higher demand for cannabis-based treatments, the ongoing legalization of cannabis in various regions, and a growing preference among consumers for cannabis capsules. Key trends expected in the forecast period encompass product innovations in the cannabis capsule market, strategic partnerships between industry players, and ongoing technological advancements in the development and manufacturing of cannabis-based pharmaceuticals.

The surging prevalence of neurological disorders is anticipated to propel the expansion of the cannabis capsule market in the foreseeable future. Neurological disorders encompass a spectrum of medical conditions affecting the central and peripheral nervous systems, including the brain and spinal cord. Compounds present in cannabis capsules, notably cannabidiol (CBD), demonstrate promising therapeutic potential for alleviating symptoms associated with neurological disorders, such as Alzheimer's disease, by mitigating social recognition memory deficits. For instance, data from the Centers for Disease Control and Prevention in October 2022 indicated that approximately 5.8 million Americans were afflicted with Alzheimer's disease in 2020, with projections estimating a nearly threefold increase to 14 million individuals by 2060. Consequently, the escalating incidence of neurological disorders emerges as a key catalyst driving the growth trajectory of the cannabis capsule market.

Leading entities in the cannabis capsule market are strategically focusing on introducing innovative solutions, including oral cannabis capsules, to strengthen their competitive foothold in the industry. Oral cannabis capsules represent a convenient and discreet form of cannabis consumption, wherein cannabis compounds such as oils and decarboxylated flowers are encapsulated into pill form. For instance, in January 2023, Holistic Industries, a prominent organic medical cannabis company based in the United States, unveiled CANNACEUTICA in the USA - an oral cannabis capsule tailored with dosing guidelines specifically designed for individuals grappling with chronic pain. As a groundbreaking product, CANNACEUTICA offers an opioid alternative supported by evidence-based dosing guidelines and an Easy Dose Chart included in each bottle to facilitate users in determining the optimal dosage. The recommended initial dosage comprises 2.5 milligrams of THC (Tetrahydrocannabinol), underscoring its user-friendly approach and potential therapeutic efficacy. Through such pioneering innovations, companies such as Holistic Industries aim to cater to the burgeoning demand for cannabis-based therapeutic solutions and capitalize on opportunities within the burgeoning cannabis capsule market.

In October 2021, The KD Pharma Group, a pharmaceutical Omega-3 API manufacturer headquartered in Switzerland, finalized the acquisition of Trigal Pharma for an undisclosed sum. This strategic move is poised to integrate Trigal's cannabinoid expertise into the KD Pharma family, facilitating accelerated growth for both entities in this sector. Trigal Pharma GmbH, based in Austria, specializes in the production of cannabis capsules, particularly cannabidiol (CBD) capsules, aligning with KD Pharma's strategic objectives in the cannabinoid market.

Major companies operating in the cannabis capsule market report are GW Pharmaceuticals PLC, Trulieve Cannabis Corp., Green Thumb Industries Inc., Tilray Inc., Columbia Care Inc., Aphria Inc., Curaleaf Holdings Inc., Canopy Growth Corporation, Cresco Labs Inc., Aurora Cannabis Inc., Organigram Holdings Inc., Harvest Health & Recreation Inc., Cronos Group Inc., TerrAscend Corp., Vireo Health International Inc., Charlotte's Web Holdings Inc., The Valens Company Inc., Acreage Holdings Inc., Neptune Wellness Solutions Inc., CannTrust Holdings Inc., Valens Company Inc., HEXO Corp., Cann Group Limited, Plus Products Inc., Heritage Cannabis Holdings Corp., PharmaCielo Ltd., MediPharm Labs Corp., Sundial Growers Inc., MedReleaf Corp., Wana Brands.

North America was the largest region in the cannabis capsule market in 2023. The regions covered in the cannabis capsule market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cannabis capsule market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A cannabis capsule, also known as a marijuana pill, is a psychoactive substance that contains single cannabinoids, such as THC (tetrahydrocannabinol), CBD (cannabidiol), or the full spectrum of compounds present in the source cannabis plant. These capsules are used for both medical and recreational purposes, providing relief from conditions such as restlessness, muscle contractions, chronic discomfort, and reducing vomiting and nausea caused by chemotherapy.

The main types of cannabis capsules include high-tetrahydrocannabinol capsules, tetrahydrocannabinol or cannabinol balance capsules, and high-cannabinol capsules. High-tetrahydrocannabinol (THC) capsules contain a high concentration of THC, the primary psychoactive compound in cannabis. These capsules may also include various ratios of compounds such as tetrahydrocannabinol (THC)-dominant and cannabidiol (CBD)-dominant. They are used by various end users, including hospital pharmacies, retail pharmacies, drug stores, and online sales platforms.

The cannabis capsule market research report is one of a series of new reports that provides cannabis capsule market statistics, including cannabis capsule industry global market size, regional shares, competitors with a cannabis capsule market share, detailed cannabis capsule market segments, market trends and opportunities, and any further data you may need to thrive in the cannabis capsule industry. This cannabis capsule market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cannabis capsule market consists of sales of infused oil bases, isolated cannabinoids, and decarboxylated flowers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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