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), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.
Cannabidiol market size was valued at USD 15.6 billion in 2021 and is projected to grow from USD 18.43 Billion in 2022 to USD 59.43 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 18.2% during the forecast period (2022 – 2030). The rising occurrence of chronic diseases and related complications and the legalization of CBD in various regions are the key market drivers enhancing the market growth. The cannabidiol (CBD) market refers to the commercial and financial aspect of the production, distribution, and sale of products containing cannabidiol. CBD is a chemical compound found in the cannabis plant that has been touted for its potential therapeutic benefits.
The CBD market now includes a wide range of products such as oils, tinctures, edibles, topicals, and more. These products are marketed for a variety of purposes including reducing anxiety and stress, improving sleep, and relieving pain and inflammation.
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The COVID-19 pandemic has had a significant impact on the cannabidiol (CBD) market. In general, the pandemic has caused a slowdown in the global economy, with many businesses closing or struggling due to lockdowns and other restrictions.
The demand for CBD products has increased as people look for natural ways to manage stress, anxiety, and other health issues caused by the pandemic. The increased interest in CBD has led to an increase in sales, particularly for products such as tinctures and edibles, which can be easily purchased online.
Some of the key market players are:
- Folium Biosciences
- Aphria Inc.
- Green Roads of Florida
- Freedom Leaf Inc
- Elixinol Global Limited
- LLC CBD Health Solutions
- CV Sciences
- Isodiol International Inc
- Canopy Growth Corporation
- Medical Marijuana Inc.
The cannabidiol market has been segmented into type, application and end-user.
Based on the type, the market has been segmented into Tincture, Capsules, Aerosol spray and Inhalation.
Based on the application, the market has been segmented into Neurogenerative Disorder, Fibromyalgia, Diabetes, Protein bars and Energy drinks
Based on the end-user, the market has been segmented into Healthcare and Food and beverage.
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The largest region for the cannabidiol (CBD) market is currently North America, particularly the United States. The US has the largest market for CBD products, driven by the legalization of marijuana in several states and the growing popularity of CBD as a health and wellness product.
The US CBD market has experienced significant growth, driven by increased consumer interest in the potential benefits of CBD and the growing number of products available.
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