Cannabidiol Market to Grow at 12.05% CAGR through 2029

Advances in CBD extraction technologies and approval of CBD based drugs is expected to drive the Global Cannabidiol Market growth in the forecast period, 2025-2029.

According to TechSci Research report, “Cannabidiol Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the Global Cannabidiol Market stood at USD 5.27 Billion in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 12.05% through 2029. Several factors are propelling the growth of the Global Cannabidiol Market. Firstly, the increasing awareness of the health benefits associated with cannabidiol (CBD), spanning from pain relief to anxiety management, is a major driving force. Additionally, the ongoing legalization of cannabis-derived products in various countries worldwide is pushing the market forward. The influx of investment and the introduction of new CBD-based products in industries such as cosmetics, health supplements, and pharmaceuticals are also pivotal in driving market expansion. Furthermore, the rising popularity of CBD in the pet care sector is contributing to the market's growth trajectory.

In recent years, the global cannabidiol (CBD) market has experienced remarkable growth, driven by multiple factors including regulatory reforms, heightened consumer awareness, and the emergence of innovative CBD-infused products. The acknowledgment of CBD's therapeutic benefits by organizations like the World Health Organization has solidified its position as a credible alternative to conventional pharmaceuticals. The diminishing stigma surrounding CBD, previously associated with its cannabis origin, is giving way to a broader acceptance of its health and wellness advantages.

The legal framework surrounding CBD varies significantly among countries, with some fully legalizing its use while others impose strict regulations. This creates a complex market environment with differing levels of competition and growth prospects. As more nations reconsider their stance on cannabis, the global CBD market is anticipated to witness continued exponential growth. A significant driver of this market is the escalating demand for natural and organic products. With consumers increasingly prioritizing health, there is a growing preference for alternatives to synthetic pharmaceuticals, which may entail adverse effects. CBD, being a naturally occurring compound, aligns well with this preference for natural remedies. Moreover, the broad spectrum of potential applications for CBD, from managing chronic pain and anxiety to enhancing relaxation and sleep quality, underscores its expanding appeal and potential to enhance overall well-being.

                                                                                            

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Cannabidiol Market” 

The Global Cannabidiol Market is segmented into source type, sales type, end user, regional distribution, and company.

Based on End User, Pharmaceuticals have emerged as the dominating segment in the Global Cannabidiol Market in 2023. The remarkable therapeutic benefits of Cannabidiol contribute significantly to its status as a highly sought-after ingredient in prescription medications aimed at treating a diverse array of ailments. From epilepsy and chronic pain to anxiety disorders, Cannabidiol has demonstrated promising efficacy in providing relief and enhancing patients' quality of life. The increasing acceptance and legalization of medicinal cannabis across various regions have further propelled the dominance of the pharmaceuticals sector in the market. The growing recognition of Cannabidiol's potential in addressing medical conditions has spurred extensive research and development endeavors, resulting in the emergence of innovative pharmaceutical products harnessing the properties of this natural compound. 

Based on Region, Asia Pacific have emerged as the fastest growing region in the Global Cannabidiol Market in 2023. The regulatory landscape concerning cannabis and Cannabidiol (CBD) products in the Asia Pacific region is dynamic, marked by the legalization or decriminalization of medical cannabis or CBD-based products in several countries. This regulatory evolution is creating new markets and opportunities for CBD companies to expand their presence in the region. Additionally, there is a growing recognition and acceptance of the potential therapeutic advantages of CBD among consumers in the Asia Pacific area. Consequently, there is an increasing demand for CBD products for various health and wellness purposes, including pain management, anxiety relief, and skincare. The Asia Pacific region is experiencing a notable upsurge in health and wellness trends, with consumers actively seeking natural and alternative remedies for diverse health conditions. CBD products, renowned for their natural origins and potential health benefits, are gaining traction among health-conscious consumers in the region.

Major companies operating in Global Cannabidiol Market are:

• Eden Partners LLC
• Isodiol International, Inc.
• Medical Marijuana, Inc.
• Cannoid, LLC
• Elixinol Wellness Ltd.
• Folium Food Science Limited
• NuLeaf Naturals, LLC
• Pharmahemp d.o.o.
• Holistic Hemp Scotland Ltd.

 

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“The outlook for the global Cannabidiol (CBD) market appears promising, poised for robust growth in the foreseeable future. This growth is driven by several factors, including the growing acknowledgment of CBD's health benefits, relaxation of governmental regulations, and a mounting body of scientific research validating its therapeutic potential. Additionally, the proliferation of distribution channels, encompassing online platforms and retail outlets, coupled with increasing acceptance of CBD across cosmetic, health, and pharmaceutical sectors, further fuels the market's expansion on a global scale”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Cannabidiol Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source Type (Hemp, Marijuana), By Sales Type (B2B, B2C), By End User (Medical {Chronic Pain, Mental Disorder, Cancer, Others}, Personal Use, Pharmaceuticals, Wellness {Food & Beverage, Personal Care & Cosmetics, Nutraceuticals, Others}), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global Cannabidiol Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Cannabidiol Market.

 

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