Cannabis Market Size
The global cannabis market is experiencing rapid growth:2023
Market size reached $35 billion
2027
Projected to exceed $50 billion
2030
Legal cannabis spending worldwide expected to hit $134 billion
Legal cannabis market projected to reach $134 billion by 2030, with North America leading growth
Market Growth: Concentrates vs. Dry Flower
The cannabis concentrate market shows exceptional growth driven by medical demand:1
2025
Market valued at $1.6 billion
2
2035
Projected to reach $6.8 billion (15.7% CAGR)
- Growing demand for pharmaceutical-grade concentrates with precise cannabinoid profiles
- Medical consumers increasingly prefer lab-tested products with consistent potency
Cannabis concentrates market showing strong growth from $1.6B in 2025 to $6.8B by 2035 at 15.7% CAGR
Hemp/CBD Market Size
Hemp-derived CBD is the fastest-growing cannabis segment:- 2024: Captured 56.8% of market revenue with accelerating growth
- Driven by pharmaceutical demand, legalization, and health awareness
- Applications expanding across oils, topicals, edibles, and wellness products
Cannabidiol (CBD) market demonstrating rapid expansion from 2018 to 2030, with North America as the dominant region
Market Positioning
Gudtrip is the USA’s first crypto-enabled cannabis vape with health tracking.Built exclusively for the USA legal cannabis market, every Gudtrip vape device is packaged and filled in the US. Every unit tracks consumption through embedded chips and distributes rewards accordingly.