Cannabidiol (CBD) market Trends, Growth and Size Analysis By Form (Solid and Liquid), Route of Administration (Tincture, Capsules, Inhalation (Smoke or Vapor), Aerosol Spray), Product (Food Grade and Therapeutic Grade), Application (Neurogenerative Disorder, Fibromyalgia, Diabetes, Protein Bars, Energy Drinks), End User (Food & Beverage, Healthcare), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.
According to MRFR analysis, the global Cannabidiol market is expected to register a CAGR of ~18.2% from 2022 to 2030 and hold a value of over USD 59.43 billion by 2030.
Cannabidiol (CBD) is a non-psychoactive compound found in the Cannabis sativa plant, which is known for its potential therapeutic effects. The cannabidiol market refers to the production, distribution, and sale of products containing CBD, including oils, tinctures, capsules, topicals, and others.
The COVID-19 pandemic has had a significant impact on the cannabidiol market, with changes in consumer behavior and disruptions in the supply chain. The market saw a surge in demand for CBD products during the pandemic as consumers sought natural remedies to address anxiety, stress, and sleep issues. The increased interest in health and wellness also contributed to the growth of the market.
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However, the pandemic also led to supply chain disruptions, which caused delays in the production and distribution of CBD products. Moreover, the economic downturn resulting from the pandemic has also affected the purchasing power of consumers, leading to a decline in demand for some high-end CBD products.
Segmentation
The Global Cannabidiol market has been segmented into based on form type, route of administration, product, application type and fusion type.
Based on the form type: solid and liquid.
Based on the route of administration: Tinctures, capsules, inhalation (smoke or vapour), and aerosol spray are all options.
Based on Product: Food Grade and Therapeutic Grade.
Based on application type: Neurogenerative Disorder, Fibromyalgia, Diabetes, Protein Bars, and Energy Drinks.
Based on fusion type: includes healthcare and Food & beverages.
Key Players
Some of the top market players are Folium Biosciences, Aphria Inc., Green Roads of Florida Freedom Leaf Inc, Elixinol Global Limited, LLC CBD Health Solutions, CV Sciences, Isodiol International Inc, Canopy Growth, Corporation Medical Marijuana Inc.
Regional Analysis
In terms of regional analysis, North America is currently the largest market for CBD, followed by Europe and the Asia-Pacific region. The legalization of CBD in several countries and the increasing adoption of CBD for medicinal and therapeutic purposes have contributed to the growth of the market in these regions.
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However, the regulatory framework surrounding the use of CBD varies across different regions, which has posed a challenge to market growth.
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