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New York Legal Cannabis Market Size, Share & Trends Analysis Report By Source (Hemp, Marijuana), By Derivatives (CBD, THC, Others), By Cultivation (Indoor Cultivation, Greenhouse Cultivation), By End-use, And Segment Forecasts, 2024 - 2030

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  • 80 Pages
  • August 2024
  • Region: United States
  • Grand View Research
  • ID: 5998687
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New York Legal Cannabis Market Growth & Trends

The New York legal cannabis market size is expected to reach USD 3.22 billion by 2030, registering a CAGR of 15.3% from 2024 to 2030. Factors such as the legalization of medicinal cannabis, rising consumer disposable income, increasing consumer awareness of the health benefits of cannabis, growing demand for cannabis from the pharmaceutical industry, and the approval of the U.S. Farm Bill are expected to boost market growth.

Cannabis is utilized for managing a range of ailments, including mental health issues, cancer, nausea, and pain, and for adult use purposes. The increasing prevalence of cancer is expected to significantly contribute to the increasing acceptance of medical marijuana over the forecast period. For instance, according to data published by the Government of New York, annually 116,000 New Yorkers are diagnosed with cancer.

The growing awareness among people regarding the therapeutic benefits of cannabis and the rise in cannabis certification educational and training programs fuel market growth. For instance, the travelling training program is a part of the New York State Cannabis Workforce Initiative. It's a collaboration between Cornell University's School of Industrial & Labor Relations and the non-profit Workforce Development Institute, which is partly funded by the state. This program has successfully educated hundreds of individuals in the fundamental aspects of the cannabis industry.

Moreover, the increase in research activities related to cannabis is driving the market growth. In August 2023, regulations for Cannabis Research Licenses were implemented. These regulations allow licensed researchers to cultivate, process, purchase, and possess cannabis for the purpose of testing its composition levels and chemical potency, studying the safety and effectiveness of cannabis as a medical treatment, conducting agricultural or genomic research, as well as carrying out clinical studies of cannabis-derived drug products.

New York Legal Cannabis Market Report Highlights

  • Based on source, the marijuana segment accounted for the largest revenue share in 2023, owing to the growing research studies on cannabis for its medical use
  • Based on derivatives, the CBD segment dominated the market with the largest revenue share in 2023, owing to the growing adoption of CBD-infused medication, food, and cosmetics
  • Based on cultivation, the indoor cultivation segment accounted for the largest revenue share in 2023, owing to favorable government regulations and a rise in the number of cannabis cultivators
  • Based on end-use, the recreational use segment held the largest market share in 2023 due to the rise in the number of consumers adopting cannabis consumption in the form of smoking and vaping

Why should you buy this report?

  • Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players worldwide.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listing for you to stay ahead of the curve
  • COVID-19's impact and how to sustain in these fast-evolving markets


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Source
1.2.2. Derivatives
1.2.3. Cultivation
1.2.4. End-use
1.3. Estimates and Forecast Timeline
1.4. Research Methodology
1.5. Information Procurement
1.5.1. Purchased Database
1.5.2. Internal Database
1.5.3. Secondary Sources
1.5.4. Primary Research
1.6. Information Analysis
1.6.1. Data Analysis Models
1.7. Market Formulation & Data Visualization
1.8. Model Details
1.8.1. Commodity Flow Analysis
1.9. List of Secondary Sources
1.10. Objectives
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.2.1. Source outlook
2.2.2. Derivatives outlook
2.2.3. Cultivation outlook
2.2.4. End Use outlook
2.3. Competitive Landscape Snapshot
Chapter 3. New York Legal Cannabis Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Case Study Analysis
3.3. Business Environment Analysis
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Supplier power
3.3.1.2. Buyer power
3.3.1.3. Substitution threat
3.3.1.4. Threat of new entrant
3.3.1.5. Competitive rivalry
3.3.2. PESTLE Analysis
3.4. Regulatory Landscape
Chapter 4. New York Legal Cannabis Market Segment Analysis, By Source, 2018 - 2030 (USD Million)
4.1. Definition and Scope
4.2. Source Segment Dashboard
4.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.4. Hemp
4.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
4.4.2. Hemp Oil
4.4.2.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
4.4.3. Industrial Hemp
4.4.3.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
4.5. Marijuana
4.5.1. Market estimates and forecasts, 2018 to 2030, (USD Million)
4.5.2. Flower
4.5.2.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
4.5.3. Oil and Tinctures
4.5.3.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 5. New York Legal Cannabis Market Segment Analysis, By Derivatives, 2018 - 2030 (USD Million)
5.1. Definition and Scope
5.2. Derivatives Segment Dashboard
5.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.4. CBD
5.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
5.5. THC
5.5.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
5.6. Others
5.6.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 6. New York Legal Cannabis Market Segment Analysis, By Cultivation, 2018 - 2030 (USD Million)
6.1. Definition and Scope
6.2. Cultivation Segment Dashboard
6.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.4. Indoor Cultivation
6.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
6.5. Greenhouse Cultivation
6.5.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
6.6. Outdoor Cultivation
6.6.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 7. New York Legal Cannabis Market Segment Analysis, By End Use, 2018 - 2030 (USD Million)
7.1. Definition and Scope
7.2. End Use Segment Dashboard
7.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
7.4. Industrial Use
7.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5. Medical Use
7.5.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.2. Chronic Pain
7.5.2.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.3. Depression and Anxiety
7.5.3.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.4. Arthritis
7.5.4.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.5. Post Traumatic Stress Disorder (PTSD)
7.5.5.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.6. Cancer
7.5.6.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.7. Migraines
7.5.7.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.8. Epilepsy
7.5.8.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.9. Alzheimer’s
7.5.9.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.10. Multiple Sclerosis
7.5.10.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.11. Amyotrophic Lateral Sclerosis
7.5.11.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.12. Tourette’s
7.5.12.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.13. Diabetes
7.5.13.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.14. Parkinson's
7.5.14.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.15. Glaucoma
7.5.15.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.5.16. Others
7.5.16.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
7.6. Recreational Use
7.6.1. Market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, by Key Market Participants
8.2. Company Categorization
8.3. Company Market Position Analysis
8.4. Company Profiles
8.4.1. Curaleaf Holdings, Inc.
8.4.1.1. Overview
8.4.1.2. Financial Performance
8.4.1.3. Service Benchmarking
8.4.1.4. Strategic Initiatives
8.4.2. New York Hemp Oil
8.4.2.1. Overview
8.4.2.2. Financial Performance
8.4.2.3. Service Benchmarking
8.4.2.4. Strategic Initiatives
8.4.3. COOKIES CREATIVE PRODUCTIONS & CONSULTING, INC.
8.4.3.1. Overview
8.4.3.2. Financial Performance
8.4.3.3. Service Benchmarking
8.4.3.4. Strategic Initiatives
8.4.4. ACREAGE HOLDINGS.
8.4.4.1. Overview
8.4.4.2. Financial Performance
8.4.4.3. Service Benchmarking
8.4.4.4. Strategic Initiatives
8.4.5. Cannabist Company Holdings Inc.
8.4.5.1. Overview
8.4.5.2. Financial Performance
8.4.5.3. Service Benchmarking
8.4.5.4. Strategic Initiatives
8.4.6. Cresco Labs
8.4.6.1. Overview
8.4.6.2. Financial Performance
8.4.6.3. Service Benchmarking
8.4.6.4. Strategic Initiatives
8.4.7. PharmaCann Inc.
8.4.7.1. Overview
8.4.7.2. Financial Performance
8.4.7.3. Service Benchmarking
8.4.7.4. Strategic Initiatives
8.4.8. Canna West Seattle
8.4.8.1. Overview
8.4.8.2. Financial Performance
8.4.8.3. Service Benchmarking
8.4.8.4. Strategic Initiatives
8.4.9. Vireo Health International, Inc.
8.4.9.1. Overview
8.4.9.2. Financial Performance
8.4.9.3. Service Benchmarking
8.4.9.4. Strategic Initiatives
8.4.10. Green Thumb Industries (GTI)
8.4.10.1. Overview
8.4.10.2. Financial Performance
8.4.10.3. Service Benchmarking
8.4.10.4. Strategic Initiatives
List of Tables
Table 1 List of secondary sources
Table 2 List of abbreviations
Table 3 New York legal cannabis market, by source, 2018 - 2030 (USD Million)
Table 4 New York legal cannabis market, by derivatives, 2018 - 2030 (USD Million)
Table 5 New York legal cannabis market, by cultivation, 2018 - 2030 (USD Million)
Table 6 New York legal cannabis market, by end use, 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Value-chain-based sizing & forecasting
Fig. 5 QFD modeling for market share assessment
Fig. 6 Market research approaches
Fig. 7 Market formulation & validation
Fig. 8 U.S. cannabis market: market outlook
Fig. 9 U.S. cannabis competitive insights
Fig. 10 Parent market outlook
Fig. 11 Related/ancillary market outlook.
Fig. 12 Industry value chain analysis
Fig. 13 New York legal cannabis market driver impact
Fig. 14 New York legal cannabis market restraint impact
Fig. 15 New York legal cannabis market strategic initiatives analysis
Fig. 16 New York legal cannabis market: Source movement analysis
Fig. 17 New York legal cannabis market: Source outlook and key takeaways
Fig. 18 Hemp market estimates and forecasts, 2018 - 2030
Fig. 19 Hemp Oil market estimates and forecasts, 2018 - 2030
Fig. 20 Industrial Hemp market estimates and forecasts, 2018 - 2030
Fig. 21 Marijuana market estimates and forecasts, 2018 - 2030
Fig. 22 Flower market estimates and forecasts, 2018 - 2030
Fig. 23 Oil and Tinctures market estimates and forecasts, 2018 - 2030
Fig. 24 New York legal cannabis market: Derivatives movement analysis
Fig. 25 New York legal cannabis market: Derivatives outlook and key takeaways
Fig. 26 CBD market estimates and forecasts, 2018 - 2030
Fig. 27 THC market estimates and forecasts, 2018 - 2030
Fig. 28 Others market estimates and forecasts, 2018 - 2030
Fig. 29 New York legal cannabis market: Cultivation movement analysis
Fig. 30 New York legal cannabis market: Cultivation outlook and key takeaways
Fig. 31 Indoor Cultivation market estimates and forecasts, 2018 - 2030
Fig. 32 Greenhouse Cultivation market estimates and forecasts, 2018 - 2030
Fig. 33 Outdoor Cultivation market estimates and forecasts, 2018 - 2030
Fig. 34 New York legal cannabis market: End Use movement analysis
Fig. 35 New York legal cannabis market: End Use outlook and key takeaways
Fig. 36 Industrial Use market estimates and forecasts, 2018 - 2030
Fig. 37 Medical Use market estimates and forecasts, 2018 - 2030
Fig. 38 Chronic Pain market estimates and forecasts, 2018 - 2030
Fig. 39 Depression and Anxiety market estimates and forecasts, 2018 - 2030
Fig. 40 Arthritis market estimates and forecasts, 2018 - 2030
Fig. 41 Post Traumatic Stress Disorder (PTSD) market estimates and forecasts, 2018 - 2030
Fig. 42 Cancer market estimates and forecasts, 2018 - 2030
Fig. 43 Migraines market estimates and forecasts, 2018 - 2030
Fig. 44 Epilepsy market estimates and forecasts, 2018 - 2030
Fig. 45 Alzheimer’s market estimates and forecasts, 2018 - 2030
Fig. 46 Multiple Sclerosis market estimates and forecasts, 2018 - 2030
Fig. 47 AIDS market estimates and forecasts, 2018 - 2030
Fig. 48 Amyotrophic Lateral Sclerosis market estimates and forecasts, 2018 - 2030
Fig. 49 Tourette’s market estimates and forecasts, 2018 - 2030
Fig. 50 Diabetes market estimates and forecasts, 2018 - 2030
Fig. 51 Parkinson's market estimates and forecasts, 2018 - 2030
Fig. 52 Glaucoma market estimates and forecasts, 2018 - 2030
Fig. 53 Others market estimates and forecasts, 2018 - 2030
Fig. 54 Recreational Use market estimates and forecasts, 2018 - 2030
Fig. 55 Key company categorization

Companies Mentioned

  • Curaleaf Holdings, Inc.
  • New York Hemp Oil
  • COOKIES CREATIVE PRODUCTIONS & CONSULTING, INC.
  • ACREAGE HOLDINGS.
  • Cannabist Company Holdings Inc.
  • Cresco Labs.
  • PharmaCann Inc.
  • Vireo Health International, Inc.
  • Green Thumb Industries (GTI)

Methodology

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Table Information

Report AttributeDetails
No. of Pages80
PublishedAugust 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 1.16 Billion
Forecasted Market Value ( USD ) by 2030 $ 3.22 Billion
Compound Annual Growth Rate15.3%
Regions CoveredUnited States
No. of Companies Mentioned9

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