The cannabidiol market size was valued USD 18.43 billion in 2022 and is expected to reach USD 71.2 billion by 2032 at 17.9% CAGR during the forecast period 2023-2032.
The Cannabidiol (CBD) market has experienced remarkable growth in recent years, driven by the increasing acceptance of CBD products for their potential health benefits. CBD, derived from the cannabis plant, is a non-psychoactive compound known for its therapeutic properties. One of the most popular CBD products is CBD oil, which has gained widespread recognition for its diverse applications.
CBD oil is extracted from the hemp plant and contains a high concentration of CBD. It is commonly used for its potential to alleviate various health conditions, including anxiety, chronic pain, and inflammation. The market for CBD and CBD oil has expanded significantly as consumers seek natural alternatives to traditional pharmaceuticals.
The global CBD market is characterized by a diverse range of products, including tinctures, capsules, edibles, and topicals. CBD oil, in particular, has become a staple in the industry, with users incorporating it into their daily wellness routines. Its versatility allows for various consumption methods, providing consumers with choices that suit their preferences.
As regulations surrounding CBD continue to evolve, the market is expected to witness further expansion. Many regions have recognized the potential benefits of CBD and have implemented or are considering regulations to support its responsible use. This has contributed to the growth of the CBD market, with more consumers gaining access to CBD products.
In addition to its therapeutic applications, CBD is increasingly being explored for its potential in the skincare and beauty industry. CBD-infused skincare products are gaining popularity, thanks to their reported anti-inflammatory and antioxidant properties.
Major Key Players:
The global Cannabidiol Companies are Folium Biosciences, Elixinol Global Limited, Aphria Inc., Medical Marijuana, Inc., Isodiol International Inc, CBD Health Solutions, Green Roads of Florida, ENDOCA LLC, Canopy Growth Corporation Inc, Freedom Leaf, Inc LLC, CV Sciences, and several others.
Segment Analysis
The cannabidiol market has been segmented into application, end user, forms, product, routes of administration, and source. Based on the segment which is application, the market is categorized on the basis of diabetes, energy drinks, fibromyalgia, protein bars, and neurodegenerative disorder. The global market for CBD (Cannabidiol) is further segmented based on end users into food & beverage, healthcare. Furthermore, the market, on the basis of forms, is segmented into solid and liquid. Based on the segment which is the product, the market is categorized on the basis of food grade and therapeutic grade. The global market for CBD (Cannabidiol) is further segmented based on routes of administration into organic-inorganic. Furthermore, the market, on the basis of source is segmented into tincture, capsules, aerosol spray, inhalation (smoke or vapor), product (food grade and therapeutic grade).
The CBD Oil Market report offers comprehensive study of the market segments including application, end user, forms, product, routes of administration, and source. The analysts have also studied the market's spread across the regional markets across many of the market’s segments at country levels. The application, end user, forms, product, routes of administration, and source segments spread across the market along with the subsegments are studied. The global market for CBD (Cannabidiol) is spread across various product and service-based segments. The market research report highlights these key segments and offers forecasts based on primary and secondary data. The global market research report presents key company profiles of organizations active across the market.
Regional Analysis
Regulatory restrictions across different parts of the world may hinder the market growth. The market research report suggests that companies in the Cannabidiol Market could be supported by legalization of CBD in various regions as well as legalization related complications during the forecast period. The Cannabidiol Market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. As per market analysts, the market is set to witness tremendous growth across application, end user, forms, product, routes of administration, and source segments. The global market’s North American region covers markets across the United States, Mexico, Canada, and others. Businesses present in the market are also profiled and their strategies have been presented in detail in the market research report.
The market across the European region covers Italy, France, Germany, and the United Kingdom. Furthermore, the CBD (Cannabidiol) market research report provides details about the APAC region covering markets from China, India, Australia, Japan, and others. The market is also active across several other parts of the world. The CBD (Cannabidiol) market report covers all these key regions including the Middle East, Africa, Brazil, and others active in the global market.
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