The global cannabidiol (CBD) consumer health market encompasses a wide range of CBD-based therapeutic consumer goods including cosmetics, capsules, oils, and topicals. Cannabidiol is finding increasing applications in the treatment of chronic pain, anxiety, epilepsy, insomnia, and skin conditions due to its anti-inflammatory and analgesic properties. Rising consumer awareness about the therapeutic benefits of CBD combined with the legalization of hemp-derived CBD in numerous countries has created high demand for CBD-infused products.

The Global cannabidiol (CBD) consumer health market is estimated to be valued at US$ 21.89 Mn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.

Key Takeaways

Key Players: Key players operating in the cannabidiol (CBD) consumer health market are OSENSA Innovations Corp., FISO Technologies Inc., Yokogawa Electric Corporation, OFS Fitel, LLC., AP Sensing, Nura Innovations Incorporated, OptaSense, NEC Corporation, Halliburton Company and Omnisens S.A. These players are focusing on new product launches and partnerships to strengthen their market position.

Key Opportunities: The legalization of hemp-derived CBD and medicinal cannabis in new geographies presents lucrative opportunities for cannabidiol product manufacturers to expand into new consumer markets. Growing prevalence of healthcare conditions amenable to CBD therapies will continue driving the demand for innovative CBD-based drugs and supplements.

Global Expansion: Major cannabidiol companies are actively engaging in partnerships and acquisitions to establish manufacturing and distribution networks in international markets. Numerous CBD startups are also raising funds to scale up operations and cater to the surging global demand. The increasing social acceptance of cannabidiol is encouraging new entrants to foray into the dynamic CBD health and wellness industry.

Market Drivers
Growing awareness about potential therapeutic benefits of CBD for an extensive range of health issues like chronic pain, depression, arthritis, and cancer-related side effects is the major growth propelling factor. Ease of availability of CBD supplements and legalization of hemp-derived CBD products in different regions has positively impacted the CBD Consumer Health Market Growth.

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