FELTON, Calif., Dec. 12, 2022 /PRNewswire/ -- The global cannabidiol market Valued at $5.18 billion in 2021 and is anticipated to expand at a CAGR of 16.8% from 2022 to 2030. Cannabidiol is the chemical compound extracted from the cannabis Sativa plant. The cannabidiol-extracted medications have properties that overcome anxiety, reduce pain, and minimize seizures, benefitting the healing treatments. Thus, the acceptance and demand for these products are increasing for health and wellness purposes.
Key Industry Insights & Findings from the report:
- Based on the source type, the marijuana segment led the cannabidiol (CBD) market accounting for over 50% of the total market share in 2021. The increasing adoption of refined CBD products is contributing to segment growth.
- Cannabidiol derived from hemp is anticipated to gain lucrative growth during the forecast period.
- Based on sales type, the B2B segment accounted for a market share of over 50% of the total market during the forecast period.
- The pharmaceuticals segment is expected to witness significant growth during the forecast period. Growing awareness regarding the medical advantages of cannabidiols is driving the segment's growth.
- North America led the market, accounting for over 85% of the total market share in 2021. The presence of major key players in the region is creating ample opportunities and a competitive edge for market expansion.
- Europe and Asia Pacific regions are estimated to gain significant profit during the forecast period from hemp production and cultivation.
Read 132 page full market research report for more Insights, "Cannabidiol Market Size, Share & Trends Analysis Report By Source Type, By Distribution Channel, By End-use, By Region And Segment Forecasts From 2022 To 2030", published by Million Insights.
Cannabidiol Market Growth & Trends
Moreover, the therapeutic benefits of cannabidiol are growing awareness among the larger population. This has influenced the buyers to buy more products regardless of the product costs. Hence, marketers are getting profitable margins. Hence, nowadays many health and wellness retailers such as Rite Aid, CVS Health, and Walgreens Boots Alliance. are offering CBD-based products.
For instance, CVS Health is focusing on providing CBD topicals in its 800 stores. Walgreens Boots Alliance is also focusing on selling CBD-included topicals across its 1500 stores.
Cannabidiol Market Segmentation
Million Insights has segmented the global cannabidiol market based on source type, sales type, end-use, and region:
Cannabidiol Market - Source Type Outlook (Revenue, USD Million, 2017 - 2030)
- Hemp
- Marijuana
Cannabidiol Market - Sales Type Outlook (Revenue, USD Million, 2017 - 2030)
- B2B
- By End-use
- Pharmaceuticals
- Wellness
- Food & Beverages
- Personal Care & Cosmetics
- Nutraceuticals
- Others
- B2C
- By Sales Channel
- Hospital Pharmacies
- Online
- Retail Stores
- By End-use
- Medical
- Chronic Pain
- Mental Disorders
- Cancer
- Others
- Personal Use
Cannabidiol Market - End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Medical
- Chronic Pain
- Mental Disorders
- Cancer
- Others
- Personal Use
- Pharmaceuticals
- Wellness
- Food & Beverages
- Personal Care & Cosmetics
- Nutraceuticals
- Others
Cannabidiol Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Netherlands
- Switzerland
- Italy
- France
- Poland
- Czech Republic
- Croatia
- Asia Pacific
- China
- India
- South Korea
- Japan
- New Zealand
- Australia
- Latin America
- Argentina
- Brazil
- Mexico
- Colombia
- Uruguay
- Chile
- Middle East & Africa (MEA)
- Israel
- South Africa
List of Key Players of Cannabidiol Market
- ENDOCA
- Cannoid, LLC
- Medical Marijuana, Inc.
- Folium Biosciences
- Elixinol
- NuLeaf Naturals, LLC
- Isodiol International, Inc.
- Pharmahemp d.o.o.
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