Japan’s cannabis market expanded sixfold over four years to ¥24 billion ($154 million) in 2023, a trend that is expected to accelerate with the amendment in December of cannabis laws, market research firm Euromonitor International said in a recent report.
The growing sales of products using CBD (cannabidiol), a compound found in marijuana, are attributed to the rising demand for products that offer relaxation, sleep and stress relief, the firm said, estimating the current number of CBD users in Japan at 588,000.
Many users see CBD as alternatives to tobacco and alcohol, often using them to relax while watching movies or TV shows, the firm said.