U.S. Minor Cannabinoids Market (2024 - 2030)

Market Size & Trends

The U.S. minor cannabinoids market size was estimated at USD 11.5 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 15.0% from 2024 to 2030. Consumers have access to a wide range of products containing minor cannabinoids, which cater to their specific health needs. The market is being propelled by the growing demand for alternative therapeutic options and the increasing legalization of cannabis-based products. Moreover, extensive research in the field of minor cannabinoid uses and the surge in demand for such products has contributed to the overall growth of the market.

Minor cannabinoids are increasingly incorporated into wellness products, including tinctures, topicals, and supplements. These products are marketed as natural remedies for various health issues and are popular among consumers looking for alternatives to traditional medications. Furthermore, minor cannabinoids are used to prepare various skincare and personal care products. For instance, Amyris, Inc., a synthetic biotechnology company, manufactures clean CBG (Cannabigerol) to address consumer skincare concerns.

The main focus of cannabis industry is to provide more accessible information to consumers, aiming to educate them on the advantages of minor cannabinoids, including cannabigerol (CBG), Tetrahydrocannabivarin (THCV) and cannabinol (CBN), in product formulations. Manufacturers are increasing the production of CBN, THCV and CBG-enhanced products as they realize the market potential, contributing to market growth. In January 2022, Sugarmade, Inc. signed a binding Letter of Intent (LOI) with GenCann, Inc., the licensor for a set of cannabis chemovars. Under this LOI, Sugarmade and its cannabis cultivator partners have been granted permission to cultivate strains that are believed to contain some of the highest levels of THC-V for a period of 5 years.

In addition, the approval of the Farm Bill in 2018 has led to a rise in the awareness and adoption of cannabis-derived products in the U.S. It has opened a lot of opportunities for advance research studies on cannabis and its derivatives. Minor cannabinoids have also gained momentum in the past few years owing to positive research outcomes and numerous health benefits. For instance, numerous studies are being conducted to analyze the effect of minor cannabinoids on medical conditions such as alopecia, arthritis, epidermolysis bullosa, diabetes, and arthritis.

Despite highly expensive extraction and purification procedures, several manufacturers have boosted their production capabilities due to higher demand for minor cannabinoids. In November 2021, Hempsana Holdings Ltd., a leader in cannabis extraction, announced commercial production of CBG with its largest commercial run of cannabigerol. In addition, other market players such as Fresh Bros Hemp Company, GVB Biopharma, and Extract Labs also facilitated the production of minor cannabinoid isolates to strengthen their avenues.

Increasing preference of medical professionals for cannabinoid-based formulations to treat numerous health conditions is another major factor supporting the country's market and creating a positive influence on consumer minds, thereby boosting the adoption and popularity of these products.

Market Concentration & Characteristics

Market growth stage is high and pace is accelerating. The market is characterized by a high degree of innovation due to ongoing research on minor cannabinoids. Preliminary research suggests that minor cannabinoids may possess unique therapeutic properties, such as analgesic, neuroprotective effects, and anti-inflammatory, driving their adoption in medical applications.

The U.S. minor cannabinoids market is characterized by a medium level of merger and acquisition (M&A) activity by the leading players. Through M&A activity, these companies can expand their product portfolio, enter new territories, and strengthen their market position.

Legalization of cannabis for medical and recreational purposes in several states has created a conducive environment for the growth of the minor cannabinoids market. These regulations could have a significant impact on the U.S. market.

Wide acceptance, legalization, and rising awareness of minor cannabinoids in the U.S., majorly for medical purposes, are contributing to market growth. Due to such factors, market players are expanding their reach in the country.

Product Type Insights

The tetrahydrocannabivarin (THCV) segment dominated the market with a revenue share of 25.% in 2023. This can be attributed to the rising application of THCV in the management of conditions such as metabolic disorders, arthritis, diabetes, epilepsy, Alzheimer’s disease, neurological disorders, and pain management.

Moreover, various organic and inorganic developments done by market participants in clinical trials, innovative product launches, capacity expansions, and others are also anticipated to cater to segment growth. For instance, in June 2022, InMed Pharmaceuticals Inc., a manufacturer of rare cannabinoids, introduced B2B sales of rare cannabinoid delta 9-dominant tetrahydrocannabivarin (d9-THCV) into the health and wellness sector via its wholly owned subsidiary, BayMedica LLC.

The cannabigerolic acid (CBGA) segment is expected to witness the fastest CAGR from 2024 to 2030. The exhaustive therapeutic coverage of CBGA, rising demand from pharmaceutical companies, and increasing numbers of players aiming for CBGA production support this segment’s growth. For instance, in January 2022, Hometown Hero CBD unveiled its new CBDA + CBGA Tincture. This 30ml tincture features CBGA, CBDA, CBG, and CBD at 600mg each. Cannabinoids in tincture are hemp-derived and the product is legal in all 50 states.

Application Insights

The neurological disorders segment held a significant revenue share in 2023. The increasing prevalence of neurological disorders and benefits of cannabinoids in managing neurological disorders are expected to drive the segment’s growth. For instance, synthetic cannabinoid compounds such as Nabiximols have proven health benefits in spasticity-associated symptoms for patients with multiple sclerosis. Furthermore, rising research activities on minor and synthetic cannabinoids further fuel the market growth.

The others application segment held the largest revenue share in 2023. This segment comprises medical conditions such as diabetes, arthritis, and cardiovascular diseases. For instance, synthetic cannabinoid compounds and endocannabinoids have proven health benefits in cardiovascular disorders. CBGA has been found to have a critical role in managing heart conditions and epilepsy. Moreover, ongoing research studies about the use of minor cannabinoids in a range of disorders and the presence of extensive funding organizations are further fueling segment growth.

The pain management segment is anticipated to grow at significant CAGR from 2024 to 2030. Cannabinoids such as CBC, CBN, and CBG have shown promising outcomes in pain management, including chronic pain. Thus, the promising effects of CBN and CBG in managing chronic pain have facilitated market players to use such derivatives in formulating pain management remedies. For instance, Precision Plant Molecules provides a range of Cannabigerol (CBG) cannabinoid products ideal for consumer-packaged goods companies to manufacture unique and effective health and wellness products.

Key U.S. Minor Cannabinoids Company Insights

Some of the key players operating in the market include GCM Holdings (Global Cannabinoids), LLC; GenCanna; and CBD. INC.

• GCM Holdings (Global Cannabinoids), LLC is a wholesale business-to-business (B2B) producer, manufacturer, & distributor of organic phytocannabinoid-rich industrial hemp in the U.S. The company offers a wide range of minor cannabinoids such as CBN, CBG, CBC, CBGA, THCV, and others.

• GenCanna offers cannabinoid isolates and distillates. The company is headquartered in the U.S., and its London and Rotterdam locations serve as production and distribution centers for its global customers.

ZERO POINT EXTRACTION, LLC, Fresh Bros Hemp Company, and BulKanna are the emerging market participants

• Fresh Bros Hemp Company is a licensed CBD/hemp ingredient producer and product distributor. The company offers hemp-based products for consumers, athletes, and businesses.

• BulKanna is a manufacturer and wholesaler of CBD-based products. The company produces custom formulations with CBD, CBN, CBG & CBC.

Recent Developments

• In December 2023, Rare Cannabinoid Company launched THC + THCV Uplift Gummies. This product combines the relaxing sensation of Delta-9-THC with the energizing, appetite-controlling effects of CBD and THCV.

• In October 2022, High Tide Inc., a retail-focused cannabis company, announced that its Colorado-based subsidiary, NuLeaf Naturals, launched its plant-based softgels and full spectrum multicannabinoid oil with CBC, CBD, CBG, delta-9 tetrahydrocannabinol (Delta 9), and CBN for sale in Manitoba.

U.S. Minor Cannabinoids Market