Cannabidiol Market

Market Overview:

The global cannabidiol market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.5 Billion by 2028, exhibiting a growth rate (CAGR) of 16.80% during 2023-2028. The surging prevalence of severe medical conditions, increasing number of smokers, and rising sales of personal care and cosmetic products represent some of the key factors driving the market.

Cannabidiol (CBD) is a naturally occurring chemical compound, which is found in hemp and marijuana plants. It is a non-psychoactive component used in both non-medical and medical applications. It has antioxidant properties that help in protecting cells from damage and anti-aging effects. It provides medicinal treatment for various illnesses without the intoxicating symptoms associated with tetrahydrocannabinol (THC). It also aids in reducing anxiety and depression, improving sleep, regulating and preventing diabetes, and minimizing chronic pain and inflammation. At present, the increasing consumption of alcoholic beverages, such as beers, wines, and spirits, is catalyzing the demand for CBD across the globe.

Cannabidiol Market Trends:

The surging prevalence of severe medical conditions, including inflammatory bowel disease (IBS), arthritis, multiple sclerosis, epilepsy, migraines, glaucoma, and Parkinson’s disorder, represents one of the majors driving the demand for CBD around the world. Moreover, CBD is used in various tobacco and vaping products, such as e-liquids and cartridges. This, coupled with the increasing number of smokers on account of hectic lifestyles and early exposure to tobacco products, is favoring the market growth. In addition, there is a rise in the utilization of CBD in the preparation of chocolates, teas, coffees, smoothies, granolas, trail mixes, and protein bars. This, along with significant growth in the food and beverage (F&B) industry, is contributing to the market growth. Apart from this, the increasing adoption of CBD in the production of dietary supplements, such as capsules and gummies, on account of the growing consumption of dietary supplements in daily routines for maintaining overall health, is influencing the market positively. Furthermore, CBD finds application in the manufacturing of personal care and cosmetic products, such as creams, lotions, face masks, serums, eye creams, shampoos, soaps, and lip balms. This, in confluence with the rising sales of personal care and cosmetic products on account of the increasing focus of people on their physical appearance, is contributing to the market growth. Besides this, the growing awareness about the therapeutic benefits of CBD among the masses is creating a positive outlook for the market. Additionally, the increasing number of countries legalizing and decriminalizing the use of CBD is strengthening the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global cannabidiol market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on product, source type, grade, and sales type.

Product Insights:

• CBD Oil
• CBD Isolates
• CBD Concentrates
• Others
   

The report has provided a detailed breakup and analysis of the cannabidiol market based on the product. This includes CBD oil, CBD isolates, CBD concentrates, and others. According to the report, CBD isolates represented the largest segment.

Source Type Insights:

• Marijuana
• Hemp
   

A detailed breakup and analysis of the cannabidiol market based on the source type has also been provided in the report. This includes marijuana and hemp. According to the report, marijuana accounted for the largest market share.

Grade Insights:

• Food Grade
• Therapeutic Grade
   

The report has provided a detailed breakup and analysis of the cannabidiol market based on the grade. This includes food grade and therapeutic grade. According to the report, therapeutic grade represented the largest segment.

Sales Type Insights:

• B2B
• B2C
   

A detailed breakup and analysis of the cannabidiol market based on the sales type has also been provided in the report. This includes B2B and B2C. According to the report, B2B accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for cannabidiol. Some of the factors driving the North America cannabidiol market included the growing legalization of CBD, rising therapeutic benefits, increasing usage in the food and beverage (F&B) industry, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global cannabidiol market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Aurora Cannabis Inc., Canopy Growth Corporation, CV Sciences Inc., Elixinol Global Limited, Endoca BV, Folium Biosciences, Green Roads of Florida LLC (The Valens Company Inc.), Isodiol International Inc., Koi CBD, Medical Marijuana Inc., Medterra CBD, NuLeaf Naturals LLC, PharmaHemp d.o.o., Tilray Brands Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Cannabidiol Market Report Scope:

Key Questions Answered in This Report:

• How has the global cannabidiol market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global cannabidiol market?
• What is the impact of each driver, restraint, and opportunity on the global cannabidiol market?
• What are the key regional markets?
• Which countries represent the most attractive cannabidiol market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the cannabidiol market?
• What is the breakup of the market based on the source type?
• Which is the most attractive source type in the cannabidiol market?
• What is the breakup of the market based on grade?
• Which is the most attractive grade in the cannabidiol market?
• What is the breakup of the market based on sales type?
• Which is the most attractive sales type in the cannabidiol market?
• What is the competitive structure of the global cannabidiol market?
• Who are the key players/companies in the global cannabidiol market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cannabidiol market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global cannabidiol market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cannabidiol industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.