by Marijuana cigarettes, also known as joints, are rolled cigarettes that contain dried, shredded parts of the Cannabis sativa plant intended for smoking. Marijuana cigarettes deliver tetrahydrocannabinol (THC) and other cannabinoids to the user through inhalation. Marijuana cigarettes offer people an alternative inhalation method to smoke marijuana dry herb. The rising legalization of recreational and medical marijuana along with the growing awareness about its therapeutic benefits are propelling the demand for marijuana cigarettes across countries.
marijuana cigarette market is estimated to be valued at US$ 67.55 Mn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the marijuana cigarette market are BASF SE, Bayer Material Science LLC, E.I du Pont De Nemours and Company, Huntsman Corporation, Jilin Connell Chemical Industry Co., Ltd., SP Chemicals Holdings, Ltd., Sumitomo Chemical Co. Ltd., and The Dow Chemical Company.
The key opportunities in the marijuana cigarette market include increasing investments by companies in the research & development of advanced marijuana strains and expanding legalization of marijuana in developing regions. Technological advancements such as development of new extraction & processing techniques to retain terpene and cannabinoid profile of marijuana are further fueling the market growth.
Market Drivers
Growing legalization of medical and recreational marijuana across countries is a major factor driving the marijuana cigarette market. As of 2021, 34 U.S. states, 4 territories, and the District of Columbia have legalized medical marijuana while 17 states and Washington D.C. have legalized recreational use. Popularity of marijuana consumption in social gatherings and parties coupled with innovative product offerings by manufacturers is also boosting the market growth.
Current challenges in Marijuana Cigarette Market
The marijuana cigarette market is still in nascent stage and witnesses several regulatory challenges across different regions of the world. However, marijuana is still illegal under federal law in the United States and considered as Schedule I substance. This acts as a major deterrent for the growth of this market. Stringent regulations pertaining to the cultivation, distribution and consumption of marijuana products also impedes the market growth. Lack of standardized dosages and quality controls is another concern for this industry.
SWOT Analysis
Strength: Growing legalization of medical and recreational marijuana across different countries and states create new opportunities. Demand for alternative delivery formats other than smoking drives the product innovation.
Weakness: Regulatory challenges and social stigma associated with marijuana use. Complex manufacturing process and quality standardizations for marijuana cigarettes.
Opportunity: Potential to address issues related to tobacco cigarettes by providing safer alternatives. Growing acceptance of cannabis for wellness benefits boost the market potential.
Threats: Stringent laws and ban on cultivation in several countries. Rising health awareness reduces the social acceptance of smoking.
Marijuana Cigarette Market Regional Analysis as Geographical regions with higher market concentration North America dominates the global marijuana cigarette market in terms of value, with the U.S. accounting for the major share. Favorable regulatory scenario and growing social acceptance drive the market growth in this region.
Fastest growing geographical region
Asia Pacific is expected to witness the highest growth over the forecast period. Several countries in this region are in process of legalizing medical marijuana which opens new opportunities. Increasing patient pool of chronic diseases encourages product adoption. Initiatives to promote cannabis research will further propel the market in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
