Cannabidiol Market Forecasts 19.21% CAGR Growth Through 2030

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.

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. 

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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.

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

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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 Source

  • Hemp
  • Marijuana

The hemp segment has gained the largest market share in the past few years. The legal status of CBD generated from hemp in many regions is one of the main causes of its dominance. Many nations, including the US, Canada, EU member states, and others, have legalized hemp farming and the extraction of CBD from it, as long as the tetrahydrocannabinol (THC) percentage stays below a predetermined level (often 0.3% or less). The broad availability and distribution of CBD products produced from hemp through a variety of channels, including retail stores, internet retailers, and wellness stores, has been made easier by this legal certainty.

-By Application

  • Medicinal Use
  • Beauty & Personal Care
  • Pets
  • Recreational

-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

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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.

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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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