Cannabidiol (CBD) Market Size to grow by USD 44561.3 million between 2024-2028
According to a research report “ Cannabidiol (CBD) Market” by Source (Marijuana, Hemp) Distribution Channel (Offline, Online) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 44561.3 million, at a CAGR of almost 23.59% during the forecast period. The global cannabidiol (CBD) market is experiencing substantial growth due to the increasing legalization of CBD in various countries and regions. Governments' recognition of CBD's potential therapeutic benefits and favorable regulations are driving the production, distribution, and sales of CBD products. For instance, the US Farm Bill, passed in 2018, legalized hemp cultivation, making it possible to produce and market CBD products derived from hemp throughout the country. This legislation has led to a diverse range of CBD offerings, including oils, capsules, edibles, and cosmetic products, becoming readily available in the market.
Browse market data tables, figures, and in-depth TOC on “Cannabidiol (CBD) Market” by Source (Marijuana, Hemp) Distribution Channel (Offline, Online) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Source, the Marijuana segment is projected to dominate the market size in 2024
The CBD market represents a significant business opportunity, with increasing consumer interest and regulatory approval for its therapeutic benefits. CBD is a non-psychoactive compound derived from cannabis plants, gaining popularity for its potential health advantages, including pain relief, anxiety reduction, and inflammation management. Market research projects substantial growth, with estimates reaching USD20 billion by 2024. Companies focusing on CBD production, research, and distribution can capitalize on this expanding industry.
By Distribution Channel, Offline segment is expected to hold the largest market size for the year 2024
The Cannabidiol (CBD) market represents a significant business opportunity due to its growing popularity as a natural remedy for various health conditions. This non-psychoactive compound derived from cannabis plants has gained traction for its potential therapeutic benefits, including pain relief, anxiety reduction, and anti-inflammatory properties. Market research projects continued expansion, with increasing demand from consumers seeking alternative treatments and regulatory approvals for CBD products. Businesses investing in this sector can capitalize on this burgeoning trend and tap into a lucrative market.
North America is forecasted to hold the largest market size by region in 2024
The Cannabidiol (CBD) market represents a significant business opportunity due to its growing popularity as a natural remedy for various health conditions. This non-psychoactive compound derived from cannabis plants is gaining traction in the health and wellness industry, with applications ranging from pain relief to anxiety management. Market research projects continued growth, driven by increasing consumer awareness and acceptance, regulatory developments, and product innovation. Companies are investing in CBD research and development, as well as marketing and distribution strategies, to capitalize on this burgeoning market trend.
The Cannabidiol (CBD) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The CBD market, also known as the Cannabidiol market, has experienced significant growth in recent years due to the increasing popularity of CBD-based products. CBD is a non-psychoactive compound found in the cannabis plant, specifically in hemp and marijuana. Unlike its psychoactive counterpart THC (Tetrahydrocannabinol), CBD does not produce the "high" associated with marijuana use. CBD has gained attention for its potential health benefits, including the relief of pain, inflammation, anxiety, and seizures. The food and beverages industry has embraced CBD, with the production of CBD-infused edibles and beverages becoming increasingly common. In the cosmetics industry, CBD is used in topicals for stress relief and beauty care products. The E-commerce sector has also seen a surge in CBD sales, with hemp-based CBD products becoming readily available online. The CBD market is expected to continue growing, with medical applications, such as the treatment of epilepsy, gaining approval from regulatory bodies like the European Commission on Human Medicines (ECH) and the Food and Drug Administration (FDA). Despite the growing popularity of CBD, it is important to note that THC is still a controlled substance in many countries, and CBD products must contain less than 0.3% THC to be considered legal.
Market Research Overview
The CBD industry has experienced exponential growth in recent years, with the market for CBD-based products expanding into various sectors including skincare, food, and fitness. This non-psychoactive compound found in the cannabis plant, specifically in hemp, offers numerous health benefits for fitness-oriented citizens. CBD is known for its immunomodulatory attributes, making it an effective ingredient in cosmetics products for inflammation and pain relief. The British Cannabis Association reports that the CBD market, including cosmetics, food, and pharmaceutical applications, is projected to reach USD1.3 billion by 2024. Key players in the industry include Arvisol and Echo Pharmaceuticals, supplying bulk CBD oil to retail and hospital pharmacies, wholesalers, and B2B clients. CBD-based products come in various forms such as capsules, topical solutions, concentrates, oils, tinctures, and edibles like candies, baked goods, chocolates, gums, coffee, and even CBD-infused succulents. The pharmaceutical sector has also shown interest in CBD for medical applications, particularly in treating seizures and anxiety. However, it's important to note that THC (Tetrahydrocannabinol), the psychoactive compound in cannabis, is still regulated and should not be confused with CBD. Hemp production facilities ensure that their CBD products contain less than 0.3% THC to comply with regulations. In summary, the CBD market offers a wide range of products for health and wellness, from skincare to fitness goals, and continues to grow in various industries.
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