How big is the Global Cannabidiol market?
According to MarkNtel Advisors study, The Global Cannabidiol Market size was valued at around USD 22.7 billion in 2023 and is estimated to grow at a CAGR of about 19.21% during the forecast period, i.e., 2024-30.
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Global Cannabidiol (CBD) Market Trend:
Functional CBD Products Gaining Traction – As customers look for focused solutions for a range of health and wellness issues, such as stress management, pain reduction, sleep support, immune support, and skincare, functional CBD products are becoming more and more popular. Products including substances like turmeric or ginger may target inflammation and pain treatment, while CBD-infused products with additional melatonin may be promoted to induce relaxation and improve sleep quality.
This pattern is indicative of a larger movement in the market toward customized health and wellness solutions as more and more customers look for products that cater to their unique requirements and tastes. Businesses can stand out in a crowded market and appeal to a larger spectrum of customers by providing useful CBD products that are suited to particular health objectives.
Leading Companies in the Global Cannabidiol market:
- Aurora Cannabis Inc
- CV Sciences
- Endoca
- Cannabidiol (CBD) American Shaman
- Bluebird Botanicals
- Isodiol International
- Medical Marijuana Inc
- Elixinol
- Hemp Inc
- Canopy Growth Corporation
- Others
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Global Cannabidiol Market Segmentation:
By Application
- Medicinal Use
- Beauty & Personal Care
- Pets
- Recreational
The application of CBD for medical uses has gained a considerable share of the Global Cannabidiol (CBD) Market in the past few years, owing to the legalized use of cannabidiol for medical purposes across several countries like India, Argentina, & Nordic countries, among others.
By Product Type
- Edibles
- Flower
- Oil & Tinctures
- Pills & Capsules
- Topicals
- Others (Vape, Spray, etc.)
By Distribution Channel
- Regulated Dispensary
- Stand-Alone Retailers
- Department/Super Stores
- Online Portals
Regional/ Countries Insight:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
In terms of market size, revenue generation, product diversity, consumer adoption, etc., North America holds the largest share of the Global CBD Market.
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MarkNtel Advisors is a leading consulting, data analytics, and market research company that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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