What is Cannabidiol (CBD) Market?
The Cannabidiol (CBD) market is a rapidly evolving sector within the cannabis industry. CBD, a non-psychoactive compound derived from the hemp and cannabis plants, has gained remarkable popularity due to its potential health and wellness benefits. With an ever-expanding range of products, including oils, tinctures, edibles, and topicals, the CBD market has experienced significant growth driven by increasing consumer interest in natural remedies, stress relief, and potential therapeutic applications. As regulations and public perceptions evolve, the CBD market is expected to continue its trajectory of growth and innovation in response to changing consumer needs and preferences.
Market size and volume:
Cannabidiol (CBD) Market accounted for US$ 2.9 billion in 2020 and is estimated to be US$ 17.39 billion by 2030 and is anticipated to register a CAGR of 19.8%.
Analyst View:
Cannabidiol has greater healing properties, so the demand for cannabidiol for wellness and health purpose is greater, which is a major factor driving the market growth. The growing acceptance and use of products due to government approvals is a major factor expected to increase the production of CBD-infused products. Cannabidiol is mostly used for therapeutic reasons due to the lack of psychoactive effects. Due to the rising adoption of CBD-based products to treat ailments, the global cannabidiol market is expected to grow at a lucrative rate over the forecast period. Rising awareness of cannabidiol’s therapeutic benefits has influenced buyers to buy cannabidiol products, regardless of its cost.
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| Attributes | Details |
| Cannabidiol (CBD) Market Value (2022) | US$ 5.18Bn |
| Cannabidiol (CBD) Market Projected Value (2032) | US$ 30.1Bn |
| Cannabidiol (CBD) Market CAGR (2022 – 2032) | 18.1% |
Segmentation:
- By Source- Global Cannabidiol (CBD) Market is segmented into Hemp and Marijuana.
- By Application- Global Cannabidiol (CBD) Market is segmented into Pharmaceuticals, Cosmetics & Personal Care, Food & Beverages, and Others.
- By Distribution channel- Global Cannabidiol (CBD) Market is segmented into Online Stores, Retail Pharmacies, Hospitals, and Others.
- By Regio- Global Cannabidiol (CBD) Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Competitive Landscape:
The key players operating the cannabidiol (CBD) market involves,
- Cannoid
- LLC
- Mary’s Medicinals
- Medical Marijuana, Inc.
- Canopy Growth Corporation
- Elixinol LLC
- NuLeaf Naturals
- Aphria Inc.
- Folium Biosciences
- Aphria, Inc.
- ENDOCA
- Isodiol International, Inc.
- CV Sciences, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Distribution Channel Insights
On the basis of Distribution Channel, Cannabidiol (CBD) Market is segmented into Online Stores, Retail Pharmacies, Hospitals, and Others. Retail Pharmacies are expected to dominate target market growth as in retail pharmacies, both traditional brick-and-mortar stores and online pharmacies, are another common distribution channel for CBD products. As CBD gains acceptance and regulations allow for its sale, many pharmacies are expanding their product offerings to include CBD.
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