Cannabidiol (CBD) Market Trends, Growth and Size Analysis by Form (Solid and Liquid), Route of Administration (Tincture, Capsules, Inhalation (Smoke or Vapor), Aerosol Spray), Product (Food Grade and Therapeutic Grade), Application (Neurogenerative Disorder, Fibromyalgia, Diabetes, Protein Bars, Energy Drinks), End User (Food & Beverage, Healthcare), Source (Organic-Inorganic) and Region (North America, Europe, Asia Pacific, ROW) – Global Forecast till 2030
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. Due to the lack of psychoactive effects, cannabidiol is the most widely used of all the other cannabinoids. Cannabidiol is the most often utilised cannabinoid due to its absence of psychotropic effects. It is applied to several therapeutic situations. Cannabidiol oil is used medically to treat a variety of conditions, including anxiety, depression, stress, diabetes, pain, and the symptoms of cancer. Due to the widespread use of CBD for medical conditions, a significant increase in sales of CBD oil is projected on the international market.
Buyers are expressing greater interest in CBD products, regardless of price, because to its medicinal advantages and rising awareness and popularity. Additionally, commercial merchants are increasing their investments in it due to the high profit margin. Many wellness and health businesses, including CVS Health, Rite Aid, Walgreens Boots Alliance, and others, are recommending and selling CBD oil-based products.
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The expansion of the CBD market will be largely influenced by a number of variables.
For instance, the increase in research and development efforts to provide novel concepts about cannabidiol and its applications with suitable support from various business companies and governmental authorities would play a highly beneficial role in establishing the market.
Additionally, the industry will be better positioned in the upcoming years due to the rise in chronic illnesses and their associated problems.
Last but not least, the legalisation of marijuana in a number of nations will make matters easier and open the door for the growth of the CBD industry in the years to come.
Market segmentation for cannabidiol market
The following categories are used to categorise the worldwide market for cannabidiol (CBD) Form, Administrative Routes, Goods, Applications, End Users, Source, and Region
According to Form, the CBD industry is divided into two categories: Solid and Liquid.
In terms of delivery methods: The global market for cannabidiol is divided into four submarkets based on how it is administered: tinctures, capsules, aerosol spray, and inhalation (smoke or vapour)
According to the product, the cannabidiol industry is divided into two categories: food grade and therapeutic grade.
Application: The global market for cannabidiol is divided into the following categories: Neurodegenerative Disorder, Fibromyalgia, Diabetes, Protein Bars, and Energy Drinks.
By the end user: Healthcare and Food & Beverage are the two subsectors of the global cannabidiol market that are based on the end-user.
According to Source: Organic and Inorganic cannabidiol products make up the majority of the worldwide market.
According to region, the cannabidiol market is divided into North America, the US, Canada, Mexico, and Europe.
The Americas dominate the worldwide cannabidiol market due to the significant use of cannabis-based goods. According to a WHO estimate, 2.5%, or over 147 million individuals, of the world’s population use marijuana and other cannabis-related products. Additionally, of all users of cannabis-based products, 22.2 million Americans 12 and older fall into this category.
The second-largest geographical market for cannabidiol is in Europe. In the European market, CBD usage is permitted. Throughout reality, a number of organisations, including the Ministry of Agriculture, the Bulgarian Food Safety Agency, and the Ministry of Agriculture with a “free certificate of sale” for CBD products, have approved the use of cannabidiol in Europe. The legalisation and permission from such prestigious institutions are what are fueling the European market’s expansion. Although the practise is permitted in Europe, there are some advantageous limitations as well. Additionally, the legalisation of cannabis varies across Europe. Different prospects and opportunities for growth are being created by different market participants. Such activities and developments are accelerating market expansion in the area. Germany used to import raw materials from other nations, but now the government there has legalised domestic cannabis production and access to medicinal cannabis. Such a German initiative is a significant factor in the CBD market’s expansion.
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Key players: Important participants include
- Aphria Inc.
- 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
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