India Cannabis Product Market Assessment, By Product Type [Edibles, Capsules/Tablets, Raw Extracts, Powder Mixes, Fluid Topicals, Others], By Application [Medicinal, Food and Nutrition, Tobacco, Personal Care, Fashion and Accessories, Pet Products, Others], By Distribution Channel [Online; Offline-Pharmacies/Drug Stores, Flagship/Brand Stores, Hotels, Spa and Wellness Centres, Derma/Skin Care Clinics, Others], By Region, Opportunities, and Forecast, FY2017-FY2031F

The India Cannabis Product market size was estimated to be USD 1.12 billion in FY2023 and is projected to reach USD 3.44 billion in FY2031, growing at a CAGR of 17.34% during the forecast period FY2024-FY2031.

Home>Industry Reports>India Cannabis Product Market Assessment, Opportunities and Forecast, FY2017-FY2031F

The India Cannabis Product market size was estimated to be USD 1.12 billion in FY2023 and is projected to reach USD 3.44 billion in FY2031, growing at a CAGR of 17.34% during the forecast period FY2024-FY2031. The market is being driven by factors such as increasing demand of cannabis for medical use coupled with government initiatives to legalize its usage in medical sector in the country. A traditional use of cannabis in ayurvedic medicine also adds to the list of drivers fuelling the market growth of cannabis in India.

Cannabis sativa plants yields three types of cannabis: herbal cannabis, which is made from leaf extracts and flowering tops also referred to as "cannabis," "ganja," or "weed"; cannabis resin, which is made from pressing the plant's secretions is called "charash"; and cannabis oil, which is a mixture made from the distillation or extraction of the plant's active components. Our country being one of the largest consumer marketplaces in the world, is a natural fit for a crop like cannabis which is indigenous to the country which offers a great potential to turn cannabis market into a big industry.

Increasing Demand of Cannabis for Medical Usage

Cannabis has been used in traditional medicine in India for centuries, and recent research has shown that it may have potential therapeutic benefits for a range of medical conditions, including pain, inflammation, anxiety, and epilepsy. In 2018, the Indian government approved the use of medical cannabis under certain conditions, but the regulations surrounding its use are still unclear. In 2020, the state of Jammu and Kashmir approved a policy to legalize the cultivation and use of cannabis for medicinal purposes. Other states, such as Maharashtra and Uttarakhand, have also expressed interest in legalizing medical cannabis.

Conventional Use of Cannabis in Ayurvedic Medicine

Cannabis has been used in Ayurvedic medicine in India for centuries. In Ayurvedic medicine, cannabis is believed to have a balancing effect on the body's energy and is used to treat imbalances in the doshas (vata, pitta, and kapha). The plant is considered to have a heating and drying effect on the body, making it particularly useful for treating conditions that are associated with excess moisture or dampness. The usage of cannabis in ayurveda gives opportunities to treat neuro problems and other lifestyle disorders making it a more legitimate natural alternative to heavy opioids or drugs.

Government Initiatives to Legalize Cannabis for Medical Use

There have been ongoing government initiatives to legalize and regulate the medical and industrial use of cannabis. In 2018, the Indian government legalized the cultivation of hemp for industrial and medical purposes. Hemp cultivation is regulated by the Narcotics Control Bureau (NCB) and requires a license from the government. In 2020, the Indian Council of Medical Research (ICMR) recommended the use of cannabis-based medicines for certain medical conditions, such as epilepsy, cancer, and sickle cell anaemia. However, these recommendations have not yet been adopted into law. There is also a growing movement in India to legalize cannabis for recreational use, with several political parties and advocacy groups calling for reform.

Impact of COVID-19 on India Cannabis Product Market

The widespread COVID-19 had a significant impact on the Indian cannabis market. During the pandemic, the Indian government imposed strict lockdown measures, which disrupted supply chains and caused a shortage of cannabis products. The restrictions also forced many cannabis farmers to halt production, resulting in a decline in the overall supply of cannabis in the country.

India Cannabis Product Market Assessment, Opportunities and Forecast: Report Scope

"India Cannabis Product Market Assessment, Opportunities and Forecast, FY2017-FY2031F,” is a comprehensive report by Market Xcel, providing in-depth analysis and assessment of cannabis product market in India, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities and forecast between FY2024 and FY2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute


Base Year of the Analysis


Historical Period


Forecast Period


Market Size in FY2023

USD 1.12 billion

Projected Growth Rate

CAGR of 17.34% from 2024-2031

Revenue forecast in FY2031

USD 3.44 billion


Revenue in USD and Volume in Units

Segments Covered

By Product Type

By Application

By Distribution Channel  

Regions Covered



West & Central


Key Companies Profiled

India Hemp and Co., Hemp Organics Pvt Ltd (India Hemp Organics), Ananta Hempworks Solutions Pvt. Ltd., Bombay Hemp Company Pvt Ltd. (BOHECO), HempCann Solutions Pvt. Ltd. (Vedi), Indian Industrial Hemp Association, Namrata Hempco Limited, Hemp Horizons Pvt. Ltd. (Health Horizons), VLD Food Products, Private Limited (Elinor Organics), Trueo Naturals Pvt. Ltd. (Noigra)

Customization Scope

15% free report customization with purchase.

Pricing and Purchase Options

Avail the customized purchase options to fulfil your precise research needs.

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/PDF format on special request)

Download Free Sample Report


In this report, India Cannabis Market has been segmented into following categories:

1.       India Cannabis Market, By Product Type

1.1.    Edibles

1.2.    Capsules/Tablets

1.3.    Raw Extracts

1.4.    Powder Mixes

1.5.    Fluid Topicals

1.6.    Others

2.       India Cannabis Market, By Application

2.1.    Medicinal

2.2.    Food and Nutrition

2.3.    Tobacco

2.4.    Personal Care

2.5.    Fashion and Accessories

2.6.    Pet Products

2.7.    Others

3.       India Cannabis Market, By Distribution Channel

3.1.    Online

3.2.    Offline

3.2.1.Pharmacies/Drug Stores

3.2.2.Flagship/Brand Stores


3.2.4.Spa and Wellness Centres

3.2.5.Derma/Skin Care Clinics


4.       India Cannabis Market, By Region

4.1.    East

4.2.    West and Central

4.3.    North

4.4.   South

Key Player Landscape and Outlook

The combination of changing attitudes, economic potential, and a practice of cannabis use in traditional medicine are driving the cannabis market in India. However, it is important to note that cannabis remains illegal in India and there are still significant legal and regulatory hurdles that must be overcome before the market can fully develop.

For example, Boheco is focussed on developing a scale-centric approach for industrial hemp-based goods and raw materials along with cannabis-based pharmaceuticals. Additionally, the company is making significant efforts to create a value chain for the growth of cannabis-based medicines in India.

Key Players operating in India Cannabis Product Market

·         India Hemp and Co.

·         Hemp Organics Pvt Ltd (India Hemp Organics)

·         Ananta Hempworks Solutions Pvt. Ltd.

·         Bombay Hemp Company Pvt Ltd. (BOHECO)

·         HempCann Solutions Pvt. Ltd. (Vedi)

·         Indian Industrial Hemp Association

·         Namrata Hempco Limited

·         Hemp Horizons Pvt. Ltd. (Health Horizons)

·         VLD Food Products Private Limited (Elinor Organics)

·         Trueo Naturals Pvt. Ltd. (Noigra)

If you can't find what you're searching for or have any custom requirements for India Cannabis Market, you may approach our team at

Table of Contents

1.       Research Methodology

2.       Product Overview

3.       COVID-19 and India Cannabis Product Market

4.       Impact of Russia-Ukraine War on India Cannabis Product Market

5.       Executive Summary

6.       Voice of Customer

6.1.    Demographics

6.2.    Factors Considered in Purchase Decision





6.2.5.Flavour and Taste


6.2.7.Reviews and Recommendations

6.3.    Medium of Purchase

6.4.    Frequency of Purchase/Usage Pattern

6.5.    Product Awareness and Statutory Bodies Approved Products

6.6.    Legal Consumption

7.       India Cannabis Product Market Outlook, FY2017-2031F

7.1.    Market Size & Forecast

7.1.1.By Value

7.1.2.By Volume

7.2.    Market Share & Forecast

7.2.1.By Product Type              Edibles              Capsules/Tablets              Raw Extracts              Powder Mixes              Fluid Topicals              Others

7.2.2.By Application              Medicinal              Food and Nutrition              Tobacco              Personal Care              Fashion and Accessories              Pet Products              Others

7.2.3.By Distribution Channel              Online              Offline                    Pharmacies/Drug Stores                    Flagship/Brand Stores                    Hotels                    Spa and Wellness Centres                    Derma/Skin Care Clinics                    Others

7.2.4.By Region              East              West and Central              North              South

7.2.5.By Company Market Share (%), FY2023

8.       Market Mapping of India Cannabis Product Market, FY2023

8.1.    By Product Type

8.2.    By Application/Purpose

8.3.    By Distribution Channel

8.4.    By Region

9.       Pricing Analysis

10.   Macro Environment and Industry Structure

10.1.                     PESTEL Analysis of the Cannabis Market

10.1.1.    Political Factors

10.1.2.    Economic System

10.1.3.    Social Implications

10.1.4.    Technological Advancements

10.1.5.    Environmental Impacts

10.1.6.     Legal Compliances and Regulatory Policies (Statutory Bodies Included)

10.2.                     Porter’s Five Force Analysis

10.2.1.    Supplier Power

10.2.2.    Buyer Power

10.2.3.    Substitution Threat

10.2.4.    Threat from New Entrant

10.2.5.    Competitive Rivalry

10.3.                     Supply Demand Analysis

10.4.                     Import Export Analysis

10.5.                     Patent Analysis (If Applicable)

10.6.                     Value Chain Analysis

11.   Market Dynamics

11.1.                     Trends and Developments

11.2.                     Growth Drivers

11.3.                     Pertaining Challenges

12.   Global Case Studies on Cannabis Product Market (Up to Three)

13.   Key Players Landscape

13.1.                     Competition Matrix of Market Leaders

13.2.                     Market Revenue Analysis of Market Leaders (in %, 2023)

13.3.                     Mergers & Acquisitions/Joint Ventures (If Applicable)

13.4.                     SWOT Analysis (For Five Market Players)

14.   Key Players Outlook

14.1.                     India Hemp and Co.

14.1.1.    Company Details

14.1.2.    Key Management Personnel

14.1.3.    Products & Services

14.1.4.    Financials (As reported)

14.1.5.    Key Market Focus & Geographical Presence

14.1.6.    Recent Developments

14.2.                     Hemp Organics Pvt Ltd (India Hemp Organics)

14.3.                     Ananta Hempworks Solutions Pvt. Ltd.

14.4.                     Bombay Hemp Company Pvt Ltd. (BOHECO)

14.5.                     HempCann Solutions Pvt. Ltd. (Vedi)

14.6.                     Indian Industrial Hemp Association

14.7.                     Namrata Hempco Limited

14.8.                     Hemp Horizons Pvt. Ltd. (Health Horizons)

14.9.                     VLD Food Products Private Limited (Elinor Organics)

14.10.                  Trueo Naturals Pvt. Ltd. (Noigra)

*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

15.   Strategic Recommendations

16.   About Us & Disclaimer

Frequently Asked Questions

What are the major drivers for the India Cannabis Market?


Global Tyre Market Opportunities and Forecast, 2016-2030F

Global Tyre Market size was valued at USD 261.29 billion in 2022, which is expected to reach USD 425.81 billion in 2030 with a CAGR of 6.15% for the forecast period between 2023 and 2030. ....Read More

Published on

December 2023



Japan Artificial Intelligence Market Assessment, Opportunities, and Forecast, FY2017-FY2031F

Japan's Artificial Intelligence market has been witnessing notable progress. The Japan Artificial Intelligence market is estimated to achieve a value of USD 15.84 billion by the fiscal year 2031, showing substantial growth from USD 5.95 billion in FY....Read More

Published on

December 2023



Vietnam Commercial Vehicle Market Assessment, Opportunities and Forecast, 2016-2030F

Vietnam Commercial Vehicle Market size was valued at USD 3.07 billion in 2022 which is expected to reach USD 5.84 billion in 2030 with a CAGR of 8.37% for the forecast period between 2023 and 2030. ....Read More

Published on

December 2023



Japan Internet of Things Market Assessment, Opportunities and Forecast, FY2017-FY2031

Japan Internet of Things Market size is valued at USD 11.71 billion in FY2023, expected to reach USD 50.08 billion in FY2031 with a CAGR of 19.92% for the forecast period between FY2024 and FY2031.....Read More

Published on

December 2023


Purchase Options

USD ($)










Tired of Searching?

Looking for Customization?

Some other doubt?

Need insights from a cohort?


    17, Okhla Industrial Estate Phase 3 Rd, Okhla Phase III, Okhla Industrial Estate, New Delhi, Delhi 110020
    +91 11 42343567
5741 Cleveland street, Suite 120, VA beach, VA, USA 23462
+1 (757) 343-3258
190 Middle Road, # 14-10 Fortune Centre, Singapore -188979