Wed. Apr 17th, 2024
Cannabidiol Market

Global Cannabidiol Market Insights Report Overview

According to the latest market study by MarkNtel Advisors titled “Global Cannabidiol Market: Industry Size, Share, Trends, Growth, Opportunity Analysis 2024-2030” presents a thorough examination of market drivers, opportunities and challenges.

Utilizing a quantitative approach, it offers precise insights into market size, share, and growth. Crafted by industry experts, the report delves into consumption patterns, geographical analysis, and competitive landscapes. Its objective is to furnish valuable insights for clients seeking to comprehend and leverage market dynamics. With a dual focus on historical achievements and future projections, it furnishes a nuanced understanding of the market terrain.

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Cannabidiol Market Overview:

The Global Cannabidiol (CBD) Market size was valued at around USD 22.7 billion in 2023 and is projected to grow at a CAGR of around 19.21% during the forecast period, i.e., 2024-30.

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.

Competitor Insight: Cannabidiol Market

This report focuses on major market participants like:

  • Aurora Cannabis Inc
  • CV Sciences
  • Endoca
  • Cannabidiol (CBD) American Shaman
  • Bluebird Botanicals
  • Isodiol International
  • Medical Marijuana Inc
  • Elixinol
  • Hemp Inc
  • Canopy Growth Corporation
  • Others

Segmentation Summary: Cannabidiol Market

This segmentation analysis outlines prominent sections in the report’s table of contents. Each segment undergoes thorough analysis, including sub-segments, to showcase both current and historical market sizes. The analysis underscores investment opportunities for rapid growth, particularly in the Cannabidiol Market, with notable highlighting on:

-By Application

  • Medical 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. Endocannabinoids present in the human body are necessary for regulating emotions, stress, sleep, etc. Either the endocannabinoids are naturally released in the body or through some food intake, or they can be consumed & released with the controlled dosage of cannabidiol-based products.

-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

Cannabidiol Market Geographical Reach:

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Rest of the World

Key Questions Addressed:

  • Factors Driving Market Growth: Understand the primary drivers propelling the Cannabidiol market forward.
  • Access to Reliable Reports: Learn where to access dependable market reports for informed decision-making.
  • Growth Projections: Gain insights into anticipated growth projections for the coming years.
  • Geographical Hotspots: Identify geographical poised for significant market growth soon.

Global Cannabidiol (CBD) Market (2024-30): Regional Projections

Geographically, the Global Cannabidiol (CBD) Market expands across:

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Rest of the World

In terms of market size, revenue generation, product diversity, consumer adoption, etc., North America holds the largest share of the Global CBD Market. The region’s dominant position in the global Cannabidiol (CBD) Market is a result of several reasons. When it comes to the legalization of cannabis and goods derived from hemp, such as CBD, for both medicinal and recreational uses, North America has led the way. Progressive regulatory frameworks that have been put in place in the US and Canada permit the manufacturing, sale, and use of CBD products as long as they adhere to a few rules and limitations. The market ecosystem has grown significantly as a result of regulatory clarity, and a multitude of businesses are involved in all aspects of the CBD value chain, from product manufacture and distribution to extraction and cultivation.

Moreover, demand for products manufactured with CBD is being driven by North America’s sizable and affluent customer base, which is becoming more and more interested in natural health and wellness products.

Global Cannabidiol (CBD) Industry Recent Development:

  • In January 2023: Medical Marijuana, Inc. declared that its subsidiary, HempMeds Brasil, had introduced two new full-spectrum products in Brazil. The doses come in 30 mL and 60 mL jars and range from 3,000 to 6,000 mg.
  • In January 2022: Elixinol announced the release of two cutting-edge CBD products with a focus on providing support for sleep: the Sleep Rapid Rest Liposome and Sleep Gummies.

About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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By akio01