The Cannabidiol Market Size accounted for USD 7.6 Billion in 2023 and is estimated to achieve a market size of USD 37.4 Billion by 2032 growing at a CAGR of 19.8% from 2024 to 2032.

Cannabidiol Market Highlights

• Global cannabidiol market revenue is poised to garner USD 37.4 billion by 2032 with a CAGR of 19.8% from 2024 to 2032
• North America cannabidiol market value occupied around USD 6.5 billion in 2023
• Asia-Pacific cannabidiol market growth will record a CAGR of more than 21% from 2024 to 2032
• Among source, the hemp sub-segment generated USD 4.3 billion revenue in 2023
• Based on application, the pharmaceutical sub-segment generated a significant cannabidiol market share in 2023
• Rising demand for CBD-infused pet products is a popular cannabidiol market trend that fuels the industry demand

The development is expected to increase awareness of health advantages related to cannabidiol use. In the near future there is expected to be good market demand for cannabidiol in pharmaceutical formulations due to its curing characteristics. Growing manufacturing of hemp, together with increased demand for hemp biomass rich in cannabidiol will boost development in the industry. The increasing adoption and increasing legalization of medical marijuana of refined cannabidiol (CBD) goods are projected to boost the product demand in the long term.

Global Cannabidiol Market Dynamics

Market Drivers

• Increasing understanding of CBD's therapeutic benefits
• Increasing demand for natural and organic products
• CBD's pharmacological and wellness applications are becoming more widespread

Market Restraints

• Strict rules and legal ambiguities
• The cost of CBD extraction and manufacture is high
• Limited scientific research and clinical trials

Market Opportunities

• Expansion into emerging markets with evolving regulations
• Innovation in product formulations and delivery methods
• Growing acceptance of CBD in the beauty and personal care industries

Cannabidiol Market Report Coverage

Market	Cannabidiol Market
Cannabidiol Market Size 2022	USD 7.6 Billion
Cannabidiol Market Forecast 2032	USD 37.4 Billion
Cannabidiol Market CAGR During 2023 - 2032	19.8%
Cannabidiol Market Analysis Period	2020 - 2032
Cannabidiol Market Base Year	2022
Cannabidiol Market Forecast Data	2023 - 2032
Segments Covered	By Source, By Product, By End-Use, By Distribution Channel, And By Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled	Canopy Growth Corporation, Elixinol, NuLeaf Naturals, LLC, Endoca, Isodiol International, Inc., Folium Europe B.V., The Cronos Group, PharmaHemp, Cannoid, LLC, and Medical Marijuana, Inc.
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis

Cannabidiol Market Insights

Hydrating agents and creams, cleansers, serum goods, oil, and sunscreens include CBD skin treatment products. The demand for cannabidiol in skin care and cosmetic products is expected to increase anti-aging and efficacy for all skin types, including delicate and acne-prone skin. Hemp and marijuana are obtained from the cannabis plant and have therapeutic as well as medicinal characteristics without offering the consumer elevated THC content. Health problems such as inflammation, schizophrenia, anorexia, pain, sleeping problems, epilepsy, and other symptoms of MS are useful.

The infused products of CBD are extremely prized and are expected to increase demand in the cannabidiol industry forecast period, such as cannabis oil and beauty, skincare products, drinks, candy products and capsules, and dog treatments. Ingesting, vaporization, smoking, and the skin can lead to a number of types of cannabidiol in the body. Cannabidiol is widely used in countries where cannabis is legal in the manufacturing of personal care and medicines. The legalization of cannabis goods has given end-user industries important expansion possibilities. In most countries such as Alabama, Georgia, the U.S. has deregulated the use of the product for medical apps.

Cannabidiol Market Segmentation

The worldwide market for cannabidiol is split based on source, product, application, end-use, distribution channel, and geography.

Cannabidiol Market By Sources

• Marijuana
• Hemp

According to cannabidiol industry analysis, hemp is the largest sector. Hemp produced from CBD is a burgeoning market in pet treats. The effects of CBD on animals and humans are similar. Hemp-based cannabidiol oil is utilized in pet food for its several health advantages, including reduced pain and inflammation and enhanced heart function. Marijuana-derived CBD is widely used in medicine due to its numerous health advantages. CBD generated from marijuana can be used in a range of applications, including rubber, heating methods, and flora in countries where cannabis is legal.

CBD cosmetics and private care are also gaining popularity due to its anti-inflammatory, anti-seborrheic, and antioxidant qualities. Many beauty brands, including Body Shop and MGC Derma, have already developed hemp-derived CBD products for personal care and cosmetics.

Marijuana-based CBD is legally available by prescription in most countries; however, the standards for different countries vary depending on the issue that can be treated with CBD and the quantities of THC in goods. CBD products are becoming more popular in European markets, particularly vaping and smoking products. United Kingdom King. The permitted use of marijuana-based Sativex therapeutic products for multiple sclerosis spasms and shaking has been approved.

Cannabidiol Market By Products

• Oil
• Topicals
• Oral
• CBD inhalers
• Suppository
• Isolates
• Vape oil
• Others

As per the cannabidiol market forecast, CBD oil is expected to be the most prominent sector. This is owing to its adaptability, extensive customer acceptability, and simplicity of usage. CBD oil can be consumed directly, added to food and beverages, or used topically, making it extremely versatile. Its appeal stems from its purported effectiveness in treating pain, anxiety, and sleep difficulties. Furthermore, CBD's market reach has grown as knowledge and legalization spread across the globe. CBD oil's ease of incorporation into various products, combined with its extensive medicinal potential, positions it as a key segment in the total CBD market.

Cannabidiol Market By End-Uses

• Medical
  • Chronic Pain
  • Mental Disorders
  • Cancer
  • Others
• Personal Use
• Pharmaceuticals
• Wellness
  • Food & Beverages
  • Personal Care & Cosmetics
  • Nutraceuticals
  • Others

In the cannabidiol (CBD) market, the pharmaceutical segment is likely to dominate. This category benefits from increased awareness of CBD's therapeutic qualities, notably in the treatment of illnesses such as epilepsy, chronic pain, and anxiety disorders. As more clinical research demonstrates CBD's usefulness, demand for pharmaceutical-grade products grows. The pharmaceutical sector is rigorously regulated, resulting in high-quality and consistent CBD formulations, which increases consumer trust. Furthermore, as more nations legalize medical cannabis, access to CBD-based medications grows. As healthcare professionals and people seek alternative treatments, the pharmaceutical industry is prepared to lead the market, fueled by both innovation and the growing acceptance of CBD as a viable medicinal alternative.

Wellness is expected to be an important component during the cannabidiol market forecast period. As customers seek natural and holistic ways to improve their well-being, CBD has grown in popularity due to its potential to boost both mental and physical health. This area includes a diverse range of products, from supplements to relaxation aids, which appeal to consumers wanting to reduce stress, improve sleep, and preserve general health. The increased knowledge of CBD's benefits, combined with its availability in various forms, has transformed wellness into a key market driver, reflecting a broader trend toward self-care and preventive health measures.

Cannabidiol Market By Distribution Channels

• Online
• Offline
  • Hospital pharmacy
  • Retail stores

The online distribution channel is projected to stand out. The convenience of purchasing CBD products online, combined with the large choices available, has resulted in substantial growth in this category. Consumers are increasingly flocking to internet platforms for discreet shopping, thorough product information, and user reviews, which help them make better purchasing selections. Furthermore, the growth of e-commerce and direct-to-consumer models enables firms to reach a worldwide audience more effectively. With continued digital improvements and increased acceptance of CBD, the internet channel is positioned to play a significant role in the market's distribution environment.

Cannabidiol Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Cannabidiol Market Regional Analysis

In terms of cannabidiol market analysis, North America held the largest industry share. CBD from hemp has been approved on a nationwide level in the United States. According to specific legislation, the Farm Bill of 2018 permitted hemp-derived cannabidiol production. The Farm Bill of 2014 allows for pilot study projects. Bill Amendments defined hemp as a cannabis crop derivative with a THC concentration of 0.3% or below. The bill also allows for the unrestricted cross-border transportation of hemp-derived products for private or commercial purposes.

Cannabinoids produced from hemp, however, are only considered legal if they are manufactured in accordance with federal and state regulations. Mexico has the world's second largest medicinal marijuana market, trailing only Brazil. Cannabidiol drugs can be sold in Mexico as THC supplements with a concentration of less than 1%. In 2018, the government approved CBD products to wholesalers and pharmacies across the country for import and distribution. It approves the sale, purchase, leasing, supply, import, or export of any health and wellness items. Furthermore, CBD Life is the country's exclusive seller of CBD-infused consumables, including as rubber, energy drinks, and tea.

Cannabidiol Market Players

Some of the top cannabidiol companies offered in our report include Canopy Growth Corporation, Elixinol, NuLeaf Naturals, LLC, Endoca, Isodiol International, Inc., Folium Europe B.V., The Cronos Group, PharmaHemp, Cannoid, LLC, and Medical Marijuana, Inc.

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