Trends and Insights:
The cannabidiol market size was valued USD 9.1 billion in 2021 and is expected to reach USD 59.3 Billion by 2030 at 18.2% CAGR during the forecast period 2022-2030.
Based on form, the liquid segment accounted for the largest CBD market share of 51.86% in 2018, with a market value of USD 1,601.62 million and is projected to register a CAGR of 127.24% during the forecast period. On the basis of routes of administration, the tincture segment accounted for the largest market share of 36.65% in 2018, with a market value of USD 1,132.07 million, and is projected to register a CAGR of 126.54% during the forecast period.
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CBD Market Players:
Market Research Future (MRFR) recognizes Aphria Inc., Folium Biosciences, Freedom Leaf, Inc, Green Roads of Florida, LLC, CBD Health Solutions, LLC, ENDOCA, Isodiol International Inc, CV Sciences, Inc, Medical Marijuana, Inc., Canopy Growth Corporation, Elixinol Global Limited as the key players in the global CBD market.
The global CBD market has been segmented on the basis of
- routes of administration
- by product
- end user
On the basis of form, the global cannabidiol market is segmented into
The solid form of CBD is segmented into
- CBD crystals
- CBD wax
The liquid form of CBD includes
- CBD oil
On the basis of product, the global cbd market is segmented into
- food grade
- therapeutic grade
On the basis of application, the global cbd market is segmented into
- neurogenerative disorder
- energy drinks
protein bars On the basis of end user, the global cannabidiol market is segmented into
- food & beverage
On the basis of source, the global cannabidiol market is segmented into
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The CBD market in the Americas has been segmented into
- North America
- Latin America
The North American market is further divided into the
Latin America cannabidiol market is classified into Brazil and the rest of Latin America. The Americas dominate the global CBD market, owing to the increasing consumption of cannabis-based products. The rising demand for cannabis has raised the market potential in the American region. A poll conducted by Gallup Inc., in 2016, found that American’s views on legalizing cannabis indicated that 60% of the population surveyed, believed the substance should be legalized.
A recent poll conducted by Quinnipiac University also concluded that 54% of Americans favored the legalization of cannabis without additional constraints, while 81% of respondents favored legalization of cannabis for medicinal purposes. Cannabis was approved for medicinal use in 28 states of the US, the District of Columbia, Guam, and Puerto Rico as of January 2017. Online availability of cannabis-based products is also boosting the market growth as cannabis consumers prefer to buy online from licensed producers or manufacturers.
Key Findings of the Study
- The global CBD market is projected to reach over USD 22,07,162.54 Million by 2026 at a 58% CAGR during the review period of 2019 to 2026.
- The Americas accounted for the largest CBD market share with Latin America being the major contributor to the growth of the market.
- The capsules segment by route of administration is projected to register the highest CAGR of 128.37% during the forecast period. CBD can also be taken in capsule form that allows taking CBD oil without experiencing the taste of CBD. In capsule form, the CBD looks like a soft gel, which is convenient to use with a specific quantity.
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