Cannabidiol (CBD) Market Size, Industry Share Forecast

"The trustworthy Cannabidiol (CBD) Market study details the key actions taken by the leading companies and brands, including innovations, product launches, mergers, joint ventures, acquisitions, and competitive analysis in the industry. This winning market paper can cover more ground than just market scenarios and main players' pricing comparisons. It's a comprehensive background study of the sector that also estimates the parental market. A top-notch Cannabidiol (CBD) Market research report provides a precise analysis of the industry and projections for future market successes in the years 2023–2030.

The compelling Cannabidiol (CBD) Market study report inspires clients to look for new business opportunities and advance. This market study is an excellent resource for learning about the market, new trends, product usage, competitor and customer motivation, brand positioning, and consumer behavior. The world-class marketing report's systemic company profiles highlight the latest advancements, product launches, joint ventures, mergers, and acquisitions carried out by the leading brands and important competitors in the industry. The Cannabidiol (CBD) Market study helps with both smart working and well-informed decision making.

Global cannabidiol (CBD) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 27.8% in the forecast period of 2022 to 2029.

Explore Further Details about This Research Cannabidiol (CBD) Market Report https://www.databridgemarketresearch.com/reports/global-cannabidiol-market

REPORT METRIC	DETAILS
Forecast Period	2022 to 2029
Base Year	2021
Historic Years	2020 (Customizable to 2019-2014)
Quantitative Units	Revenue in USD Million, Pricing in USD
Segments Covered	By Source (Hemp And Marijuana), Grade (Food Grade And Therapeutics Grade), Nature (Organic And Inorganic), Application (Tincture, Food, Beverages, Pharmaceutical, Topicals, Dietary Supplements And Others), Product Type (CBD Oil, CBD Concentrates, CBD Isolates And Others)
Countries Covered	U.S., Canada, Mexico, Germany, U.K., Italy, Netherlands, Switzerland, France, Russia, Spain, Turkey, Belgium, Rest of Europe, China, Japan, India, South Korea, Thailand, Malaysia, Australia, New Zealand and rest of Asia-Pacific, U.A.E, Israel, South Africa and rest of the Middle East and Africa, Brazil, Argentina and the rest of South America
Market Players Covered	Some of the key players operating in the global cannabidiol (CBD) market are CV Sciences, Inc., VIVO Cannabis Inc., Gaia Herbs Hemp, Phoena Holdings Inc., Medical Marijuana, Inc., The Cronos Group, CHARLOTTE’S WEB, HEXO Corp., Aurora Cannabis, Canopy Growth Corporation, Jazz Pharmaceuticals, Inc., Tilray, Curaleaf, KAZMIRA, Freedom Leaf, Inc., Koi CBD, Groff North America Hemplex, Joy Organics, Elixinol Wellness Limited, Isodiol International Inc., Healthy Food Ingredients, LLC, NuLeaf Naturals, LLC, Diamond CBD, Medterra CBD, ENDOCA, Green Roads among others.

Cannabidiol (CBD) Market Definition

Cannabidiol (CBD) is a chemical compound that is found in the cannabis sativa plant, and is extracted from hemp or cannabis, generally from hemp due to its naturally high cannabidiol (CBD) content. It has several benefits in treating anxiety and seizures and reducing pain. Due to its healing properties, the demand for CBD for health and wellness purposes is high, which is the major factor driving the market. Out of all cannabinoids, cannabidiol is most widely used for therapeutic reasons due to the lack of psychoactive effects. In many medical applications, cannabidiol oil is used, such as anxiety and depression treatment, stress relief, diabetes prevention, pain relief, cancer symptom relief, and inflammation. Due to the increasing adoption of CBD-based products to treat ailments, the global market is anticipated to grow at a lucrative rate over the forecast period. Cannabidiol oil is increasingly being used to make skincare products to treat acne and wrinkles. Sephora, for example, had recently introduced cannabidiol or CBD skincare line to its stores. Similarly, Ulta Beauty is intending to launch a cannabidiol-based product line. Several new companies are also entering the market for cannabidiol-infused cosmetic products.

Furthermore, the government of different countries as well as major players in the cannabinoid market are investing in research and development activities. The CBD is said to be an effective treatment for various neurological diseases including epilepsy in several clinical trials.

Market Dynamics

Drivers

Increasing demand for CBD in health & fitness

Rising awareness among consumers regarding health and fitness will help CBD market to witness rapid growth. Increasing consumer disposable income along with the legalization of medicinal cannabis is anticipated to have a positive impact on the demand for cannabidiol in this sector.

Moreover, CBD products are used to relieve various problems such as anxiety/ stress, sleep/insomnia, chronic pain, migraine, skin care, seizures, joint pain & inflammation, neurological conditions, and many others. The chronic pain treatment has gained much popularity due to additional benefits offered by CBD when used. There has been increasing demand for cannabidiol (CBD) products over recent years owing to its widespread medical applications and pain relief treatment. CBD helps in reducing chronic pain by acting on variety of biological process in the body. In addition, CBD possesses antioxidant, anti-inflammatory and analgesic properties. Therefore, CBD products reduces the anxiety that is experienced by the people suffering from the chronic pain. Thus, the increasing demand for CBD in the treatment of chronic pain is augmenting the market to grow. This also help people to maintain their health and fitness routines, while staying away from pain that may occur during fitness activities.

Improving government approvals and regulations for CBD products

There are strict government regulations and CBD based products required strict approvals before they were marketed and supplied in the local as well international market, which limited the growth of the market. However, with time these restrictions have been eased up and there has been increasing acceptance of refined CBD products combined with the increasing legalization of marijuana and marijuana-derived products for various applications. This will drive the growth and demand in the market.

Moreover, there is the presence of major manufacturers of CBD products across the globe which has further induced the government and other regulatory bodies such as Food and Drug Administration (F.D.A.) in the U.S., European Union in Europe, etc. to ease up the restrictions for CBD and CBD based products.

Restraint

High cost of CBD products

CBD is a popular and a holistic choice for people struggling with pain, inflammation, and sleep problems. Since CBD is a new product with less research and development and has lately been regulated and approved, therefore, the price of CBD are subject to fluctuations. The production of hemp became legal in 2018, which affected the price of CBD products. As a result, various CBD products witnessed some price inflation.

Moreover, many farmers are transitioning towards growing and selling hemp used to make CBD products, but despite the increased popularity of this product, it presents its own agricultural challenges. Firstly, switching over to a new crop results in new expenses. The most efficient way to harvest hemp is using a combine harvester. However, farmers who have previously grown crops that don’t require combines, such as strawberries, can’t afford to purchase a combine right away. Therefore, they need to hire people to help harvest the hemp, which drives up overall product prices as the raw material becomes costly.

Additionally, hemp requires more time and labor to grow and farmers need to inspect their crop closely as it grows. Furthermore, once it is harvested, extracting the cannabidiol is a difficult and expensive process. The processors and extractors of CBD need to use either ethanol or supercritical carbon dioxide (CO2 extraction). The extraction and refinement process requires special machinery and takes a long time, which drives up the CBD cost. Thus, all these factors add up to the costs of CBD products making them much more costly than other products, which is likely to restrain the market’s demand.

Opportunity

Increasing investments in development of new CBD based products

With the increasing trend of providing innovative and refined products in the market, manufacturers are spending large amounts in research and development for the production of new CBD based products. Oils, tinctures, concentrate, capsules, topical solutions such as slaves, lip balms, lotions, and edibles such as baked goods, coffee, chocolates, gums, and candies are some of the CBD products which are in high demand.

The increasing demand has increased the number of trials to study the impact of CBD on certain health conditions, which is expected to develop new products in turn providing opportunity for the rise in the demand in the forthcoming years. Furthermore, many companies procure CBD oils in bulk and manufacture CBD-infused products. In addition, numerous health and wellness retailers are offering CBD-based products, such as Rite Aid, CVS Health, and Walgreens Boots Alliance.

Moreover, with the ease in regulations and post the approval of cannabis products, the companies are investing huge amounts in the product development and upgrading the raw material production, which will also help them to cut down on costs while meeting the surging demand in the market. The new product development and increasing research and development activities along with various strategic decisions taken by key manufacturers in the market will offer lucrative opportunity for the growth of the global CBD market.

Key Insights Of Cannabidiol (CBD) Market Report

The report comprises a detailed analysis of different segments and offers market valuations between 2023 to 2030.
This study presents the analytical depiction of the Cannabidiol (CBD) Market with the current trends and future estimations to determine the imminent investment pockets
The report also reveals information with respect to key drivers, restraints, and opportunities coupled with a comprehensive analysis of the global Cannabidiol (CBD) Market
The forecast period of the market is assessed from 2024 to 2030 to highlight the Cannabidiol (CBD) Market growth scenario.
Porter’s five forces analysis establishes the effectiveness of the buyers and suppliers in the business line.
The key players in the industry are profiled to gain an understanding of the strategies adopted by them.
This report provides the current trends and future estimations during the forecast period, which in turn aids in identify the prevailing market opportunities.

The company portfolio includes company synopsis, operating business sectors, business overview, product/service categories, and recent growth strategies adopted by them.

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