CBD Market Growth, Size and Trends Analysis by Product (Food Grade and Therapeutic Grade), Form (Solid and Liquid), Route of Administration (Tincture, Capsules, Inhalation (Smoke or Vapor), Aerosol Spray), End User (Food & Beverage, Healthcare), Source (Organic-Inorganic), Application (Neurogenerative Disorder, Fibromyalgia, Diabetes, Protein Bars, Energy Drinks) and Region (North America, Europe, Asia Pacific, ROW) – Global Forecast till 2030
CBD Market Overview
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. As broad-spectrum pharmacological therapies, cannabidiol is expected to attract significant R&D investment from the pharmaceutical industry. Cannabidiol has showed promise in a number of scientific studies for its potential in the treatment of a variety of disorders. Following that, the cannabidiol market is characterized by a significant number of cannabidiol medicines receiving FDA approval or progressing through human clinical trials. Due to the rising prevalence of cancer, an increasing number of individuals are undergoing chemotherapy and experiencing nausea. Muscle disorders have also increased in recent years as a result of countless people around the world adopting a sedentary lifestyle.
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The global CBD market is expected to benefit from increased research and development as well as financial support from various private and government organizations for cannabinoid research, as well as the rising incidence of chronic diseases and related complications and CBD legalization in various regions. Furthermore, cannabidiol products are subjected to several scientific trials involving the treatment of a variety of illnesses, including neuropathic pain, among others. The CBD industry has a variety of goods on the market these days, but CBD Oil is one of the most popular and widely used. CBD oil generated from cannabis is a cannabis-derived medication.
However, unfavorable effects linked with cannabis, as well as strict government laws, are expected to limit the worldwide CBD market’s growth. Furthermore, the COVID-19 epidemic has resulted in unprecedented lockdowns around the world, causing daily operations to collapse and consumer behavior to shift in practically every industry. Retail stores have closed as the response to COVID-19 grows. Due to the statewide suspension of transportation and manufacturing in major raw material producing countries such as China and India, the market began to experience a supply deficit. Furthermore, due to supply chain interruptions in the United States, the supply of additional raw materials has been constrained, causing manufacturing and, as a result, the supply chain for CBD consumer health products to be disrupted.
CBD Market Competitive Dynamics
The prominent players in the cannabidiol market are
- Aphria Inc.
- Folium Biosciences
- Freedom Leaf, Inc
- Green Roads of Florida, LLC
- CBD Health Solutions, LLC
- Isodiol International Inc
- CV Sciences, Inc
- Medical Marijuana, Inc.
- Canopy Growth Corporation
- Elixinol Global Limited.
CBD Market Segmentation
The segment of CBD market research report has been divided into categories such as application, end user, forms, product, administration routes, and source.
The Global CBD market is divided into solid and liquid segments based on form
The Cannabidiol market is segmented into diabetes, energy drinks, fibromyalgia, protein bars, and neurodegenerative illness based on the application segment.
The global CBD market is divided into two segments based on end users: food and beverage and healthcare.
The global CBD market is further divided into organic and inorganic modes of administration.
Furthermore, the market is divided into tincture, capsules, aerosol spray, inhalation, and product based on the source.
CBD Market Regional Overview
Because of the growing popularity of cannabis-based goods, the Americas now dominate the global industry. Several variables, including a favourable legislative framework, widespread consumer adoption, and a larger intensity of suppliers in the region, are all contributing to the growing regional market demand. The region’s industry expansion will be aided by the region’s growing senior population and rising disease prevalence.
Because of the growing understanding of cannabis’s clinical potential, Europe has the second biggest market share. Select European countries have a greater influence on the CBD market. For example, the sale, possession, and consumption of both legal and recreational CBD with a THC level of up to 1.0 percent is lawful in Switzerland. Additionally, CBD products can be purchased in cigarette shops. As a result of the relaxation of THC restrictions and the ease with which consumers can obtain CBD, Switzerland has become one of the most important European participants in the CBD business.
China, India, Japan, and the Rest of Asia-Pacific make up the Asia-Pacific region. It is currently ranked third in the market. The cannabidiol (CBD) and hemp industries in APAC are predicted to grow fast in the next years, particularly in India, China, and Australia, where they have been licensed for food use, but many other countries are still hesitant to give the green light. The arrival of Chinese enterprises into the industry has offered significant expansion and growth opportunities. Cannabis-based products are entirely unacceptable in Asia-Pacific. However, some doctors are prescribing cannabis-based medications as a result of the rise in epilepsy cases.
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Due to severe government laws, harmful effects linked with cannabis, and the illegal use of marijuana, the Middle East and Africa are projected to see limited growth. In the Middle East, only a few Arab countries have enacted deceptive legislation regarding the use and handling of cannabis-related items. As a result, the market in these regions has limited growth potential throughout the projection period.
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