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cannabidiol Market

Cannabidiol Market Share, Size, Trends, Industry Analysis Report, By Product (CBD Oil, CBD Isolates, CBD Concentrates, Others); By Application (Dietary Supplements, Pharmaceutical, Topicals, Tincture, Food, Beverages, Others); By Source; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Sep 2022
  • Pages: 112
  • Format: PDF
  • Report ID: PM2558
  • Base Year: 2021
  • Historical Data: 2018-2020

Report Summary

The global cannabidiol market is valued at US $ 5.14 billion in 2021 and is projected to grow at a CAGR of 16.9% during the forecast period. Cannabidiol has derived from Sativa flora and is drawn out from cannabis or hemp, basically from hemp because of its organically top CBD holder. Cannabidiol has various healthy advantages in the treatment of seizures, anxiety, and body pain relaxation.

Cannabidiol Market Size
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Owing to it allay nature, the high request for CBD for healing and fitness motives is the prominent aspect driving the industry growth for cannabidiol. Moreover, the increasing adoption and utilization of CBD products by virtue of government authorization is another prime factor anticipated to propel the production of CBD-derived products in the cannabidiol market.

The robust demand for remedies, medication, and other consumer &healing products prepared from cannabis and its effective well-being advantages has evolved into inflaming permissions for CBD-derived products for the public welfare. The U.S FDA (Food and Drug Administration) has validated various possible opportunities that cannabis will provide and recognized the probability of saturating it in several medical and food applications.

Although, the FDA is functioning to safeguard communal health and enhance the coherence of the administrative path to produce mankind's suitable products. The cannabidiol market players are supervised on bearing out CBD to utilize the same in food, personal health care, pharmaceutical, and other remedy products are some aspects rising the growth of the global cannabidiol market during the projection period.

Cannabis encompasses a huge variety of chemical amalgam called cannabinoids, and the most well-known compound is THC (Tetrahydrocannabinol) and CBD. The WHO specialist council on ECDD (Drug Dependence) in the year 2017 publicize a study that admits the clinical significance of cannabis be the modern therapy of paroxysm (epilepsy). CBD is recognized to have exceptional medical properties for seizures in consequence of epilepsy and favorable circumstances.

Additionally, clinical examinations administered on CBD have rendered its effectiveness in the diagnosis of many types of epilepsy. According to this industry development, emerging nations are looking to manufacture CBD-derived pharmaceuticals, which will remarkably give rise to huge demand, which in turn boost the market demand for cannabidiol.

The COVID-19 pandemic had badly influenced the cannabidiol (CBD) market. The cannabidiol sector registered a crucial downfall in 2022-2030 due to the obstruction in the demand-supply chain, retail sector slowdown, and restrictions forced on the normal movement of citizens. This has hugely impacted many manufacturers' & suppliers' functioning.

Also, the industry participants disclosed huge business losses during the global pandemic; however, they systematically recovered owing to the increasing demand for CBD-based products and supplements. Stagnant growth was witnessed in the CBD supplements sector as small-scale store owners initiated other supply methods, likely on-demand package & supply, home deliveries.

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Industry Dynamics

Growth Drivers
The rising adoption of CBD in various consumer products because of the developing buyers' inclination towards CBD-derived products and compliance with therapeutics cannabidiol-based products for cancer-suffering patients to reduce pain is driving the global cannabidiol market growth.

Also, spreading awareness regarding the utilization of cannabis in beauty care products, stress relief, medical applications, food & beverages, road accident injured patients, and supplements; moreover, the growth of the sector can be accredited to the ongoing research & development activities and huge funding by the pharmaceutical industry players to capture the largest revenue share.

On the basis of consumption, the market share of Europe and North America is expanding owing to the surge in the usage of cannabidiol for healing purposes such as anxiety relaxation, anger management, and pain reduction.

Additionally, the legitimization of cannabis has decreased the requirement for regular authorization from different government departments. Key industry players are preparing their eCommerce platforms (website & apps) for the legal and transparent sales of cannabidiol-prepared products, which are some factors driving the growth of the market during the forecast period.

Report Segmentation

The market is primarily segmented based on by product, application, source, and regions.

By Product

 By Source

By Application

By Region

  • CBD Oil
  • CBD Isolates
  • CBD Concentrates
  • Others
  • Dietary Supplements
  • Pharmaceutical
  • Topicals
  • Tincture
  • Food
  • Beverages,
  • Others
  • Marijuana
  • Hemp
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Marijuana segment occupies the significant market share in 2021

The marijuana section dominated the market in 2021. The rising adoption of improved CBD-based products and the surge in the legalization of marijuana-obtained products for major health diagnosis applications are driving the growth of the segment. Moreover, the top-notch efficacy of cannabidiol procured from marijuana is a major aspect propelling the segment's growth in the gross market.

Hemp-obtained cannabidiol is expected to register lucrative growth due to the booming request from the healthcare industry and growing perception amidst end users' reference to health & fitness, plus consumer per capita income along with the government favorable policies for pharmaceutical cannabis is expected to showcase cogent impact on the huge demand for cannabidiol in the therapeutics category.

Utilization of tinctures, oils, concentrate, topical solutions, and capsules in end-user products, likely slaves, body lotions, lip balms, and succulents such as coffee, gums, chocolates, baked goods, and candies are some of the CBD-prepared products that are in huge demand from the consumer side.

Pharmaceutical sector dominated the market share in 2021

The pharmaceutical sector is one of the prominent industries that continue aiming for advancements, new product launches, and R&D activities in the market. The key players have found a massive gravity of CBD in their product production due to its large contribution, namely immunomodulatory attributes, pain reduction, and others.

The rising digit of drug trials to examine the physical effects of CBD on individual health situations is expected to boost the product needs in recent years. Although, key players combined CBD oils in the mass production of CBD-derived products. These products are consumed by a huge educated and aware consumer as an anxiety and mental stress relief substitute.

North America region leads the global cannabidiol market in 2021

The existence of a great number of fitness-oriented citizens in the province, enlarging adoption of CBD-derived products, the occupancy of key industrialists, and legal authorization from the U.S. government are some of the prime aspects of developing the topographical market. North America is considered to be the ultra-competitive region for cannabis and associated outcomes, counting cannabidiol. The USA alone has the largest CBD manufacturers and sympathetic regulations towards the usage of CBD-obtained products.

Europe and APAC region are expected to witness outstanding development during the estimation period due to the layout of the hemp-fabrication industry, notably in China. Well, china is the biggest hemp cropper in the Asian region, cultivating approximately 1/2 of the world's total production.

Competitive Insight

Some of the key players operating in the global cannabidiol (CBD) market include ENDOCA, Medical Marijuana Inc., Aurora Cannabis, Folium Biosciences, Elixinol Global, Canopy Growth Corporation, NuLeaf Naturals, IRIE CBD, Medterra CBD, LLC, CBD American Shaman, Cannoid, Isodiol International Inc., Aurora Cannabis Inc., Gaia Herbs, LLC, CV Sciences, Pharmahemp d.o.o, and others.

Recent Developments

In January 2022, CV Sciences, Inc. notify the introduction of +PlusCBD pain relief topicals with four isolated OTC products prepared to the precision root of trivial aches and pain. This product inauguration is anticipated to authorize the firm to enlarge its +PlusCBD product provisioning.

In June 2021, The Valens Company settled the possession of Green Roads for about US $ 60 million. The acquisition includes The Valens organization obtain into the U.S. CBD product market through a full-grown system of Green Roads.

In June 2021, Vertical Wellness, the US-originated firm, collaborated with CanaFarma Hemp Products Corp. a Canada-situated organization, which produces many hemp-derived products and supplements. This union will serve Vertical Wellness remodel into a public organization with gross assets of US $50 million.

Cannabidiol Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 5.14 billion

Revenue forecast in 2030

USD 22.38 billion

CAGR

16.9% from 2022 – 2030

Base year

2021

Historical data

2018 – 2020

Forecast period

2022 – 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Segments covered

Product Type, Application, Source, and Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

ENDOCA, Medical Marijuana Inc., Aurora Cannabis, Folium Biosciences, Elixinol Global, Canopy Growth Corporation, NuLeaf Naturals, IRIE CBD, Medterra CBD, LLC, CBD American Shaman, Cannoid, Isodiol International Inc., Aurora Cannabis Inc., Gaia Herbs, LLC, CV Sciences, Pharmahemp d.o.o, and others.

Key Take-Away
Polaris Market Research
Global Cannabidiol Market Size Report, 2022 - 2030