Cannabidiol Market Size Worth $22.38 Billion by 2030 | CAGR: 16.9%

The global cannabidiol market size is expected to reach USD 22.38 billion by 2030, according to a new study by Polaris Market Research. The report “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” provides detailed insight into current market dynamics and analysis of future market growth.

Due to its pain-relieving properties, increasing demand for CBD oil in the manufacture of pharmaceuticals has fueled the development of the cannabidiol oil industry in recent years. Growing awareness of CBD's therapeutic potential increased, and shoppers began buying cannabidiol products nevertheless of the high cost associated with it.

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Industry participants are concentrating on promoting cannabis-based products as they offer massive business opportunities and vital profit margins. CBD is trusted to have great medicinal properties for annexed caused by paroxysms and related disorders.

Global demand for nutritious and nutritious food products is enhanced with vital nutrients for carrying out fitness aims and keeping away from diseases such as pain, soreness, sensitivity, restlessness, and others. Major manufacturers in the CBD industry are aiming to launch new products prepared with CBD oil.

CBD oil is a government-approved/legal and non-hallucinogenic constituent of hemp, which can be applied in multiple sectors, likely pharmaceuticals, health, food, and cosmetic products. For example, as per the Harvard Health Institute report published in 2018, CBD is significantly utilized to cure many health issues such as anxiety, insomnia, pain killer, and others.

The COVID-19 pandemic has created unusual lockdowns across the globe, the shutdown of manufacturing plants, hindrances in everyday activities, disturbance in work-life balance, and alteration in buyers' actions in almost every sector. As the reactions to COVID-19 step up, retail markets have closed down.

The industry has begun observing a scarcity of raw materials and other needful product supplies because of the countrywide closedown of shipments and fabrication hubs in many emerging economies, such as Brazil, China, South Korea, and India. Additionally, as a consequence of demand-supply system obstructions in North America and Europe, the provisioning of primary raw materials has been narrowed, which is hampering the manufacturing process, and as a result, the supply chain of the CBD industry.

Cannabidiol Market Report Highlights

• The marijuana segment dominated the industry in 2021 owing to the growing adoption of CBD products and the surge in the legitimization of marijuana for several medical purposes.
• The usage of hemp-obtain CBD is gaining acceptance due to its anti-aging, anti-inflammatory, and antioxidant attributes, further sectors such as personal care, therapeutics, nutraceuticals, food & beverages, wellness products, and cosmetics are producing CBD products.
• The pharmaceuticals section dominated the market in 2021 due to the rising digit of in-progress R&D to examine the consequences of CBD on individual health expected to drive the growth of the industry.
• North American region is expected to lead the industry during the forecast period and will continue its dominance owing to the existence of a big number of health-conscious citizens, booming adoption of CBD products, and the presence of key players.
• The global players include Cannoid, Inc., Medical Marijuana, Inc., NuLeaf Naturals, Folium Biosciences, Elixinol, Pharmahemp, Isodiol International, ENDOCA, and Others.

Polaris Market Research has segmented the cannabidiol market report based on by product type, application, source, and region:

Cannabidiol (CBD), Product Type Outlook (Revenue - USD Billion, 2022 - 2030)

• CBD Oil
• CBD Isolates
• CBD Concentrates
• Others

Cannabidiol (CBD), Application Outlook (Revenue - USD Billion, 2022 - 2030)

• Dietary Supplements
• Pharmaceutical
• Topicals
• Tincture
• Food
• Beverages
• Others

Cannabidiol (CBD), Source Outlook (Revenue - USD Billion, 2022 - 2030)

• Marijuana
• Hemp

Cannabidiol (CBD), Regional Outlook (Revenue - USD Billion, 2022 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa