Global Cannabidiol Market Report and Forecast 2024-2032

Global Cannabidiol Market Outlook

The global market size for cannabidiol reached a value of more than USD 7.10 billion in 2023. The global cannabidiol market is expected to grow at a CAGR of 19.4% between 2024 and 2032, reaching a value of USD 35.02 billion by 2032.

Key Trends in the Market

Cannabidiol, also known as CBD, is an active ingredient found in the cannabis plant that is not addictive. The cannabis plant is also known as hemp or cannabis sativa. It has numerous health benefits including helping reduce PTSD symptoms, easing diabetic complications, treating opioid addiction, offsetting depression and anxiety, protecting against neurological diseases, relieving pain, and alleviating ALS symptoms. 

• Increasing approvals by various governments regarding the use of cannabidiol is a major factor improving the acceptance rate, consumption rate and demand rate of cannabidiol, ultimately contributing to the growth of the overall cannabidiol market.

• The health and wellness industry has increased the demand and market growth for cannabidiol because of its property to reduce pain and promote healing. Moreover, cannabidiol also helps fight anxiety and depression which is growing in prevalence around the world.

• Cannabidiol also has applications in skin care products to treat wrinkles and acne which has increased its demand from the cosmetics and self-care industry, fuelling the growth of the overall market.

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Market Analysis

Based on source, the market for cannabidiol can be bifurcated into marijuana and hemp. On the basis of end use, the market is divided into pharmaceuticals, nutraceuticals, medical, personal care and cosmetics, and food and beverage, among others. By distribution channels, the market is bifurcated into B2B and B2C. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global cannabidiol market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

• Charlotte’s Web, Inc.

• Medical Marijuana, Inc.

• CV Sciences, Inc.

• Endoca BV

• Gala Herbs, Inc.

• Your CBD Store

• Medterra CBD, LLC

• Anthology Brands

• The CBDistillery

• NuLeaf Naturals, LLC

• Others

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Market Share by Distribution Channels

B2B or business to business has been dominating the market with a leading share in the global cannabidiol market. It is also expected to remain the largest market holder over the forecast period owing to the increasing demand for cannabidiol oil as a raw material. The increasing approvals by various governments for use of cannabidiol has increased the demand from the industry consumers. 

B2C is also expected to grow in future as awareness regarding its benefits increase among consumers, leading to a greater demand for cannabidiol treatment. Pharmacies in collaboration with establishing companies are engaged in marketing of cannabidiol among consumers, further encouraging the growth of the B2C distribution channel. 

Market Share by Region

North America is leading among other regions in the global cannabidiol market owing to the increased awareness regarding cannabidiol advantages among health-conscious people in the region. Moreover, people are largely accepting of cannabidiol products which has increased the demand giving rise to a number of manufacturers increasing the overall market share in the region. 

North America has an extensive presence of leading key market players, resulting in a strong supply chain for cannabidiol products. The United States FDA has approved the use of a few cannabidiol-containing products, available on prescription basis. 

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Competitive Landscape 

Charlotte’s Web Inc. was established in 2014 and is based out of Colorado in the United States. It is a wellness and fitness company which aims at creating a world where each and every individual is able to attain good health. 

Medical Marijuana, Inc. founded in 2003 is headquartered in Oregon, United States. It is the first public holding company that was legalised to deal with hemp and cannabis for the purpose of health and wellness. 

CV Sciences Inc. was founded in 2010 and has its headquarter in California, United States. It is an American company that believes in creating a better world with a promising future. They provide research-based solutions that help them fulfil their mission of improving the quality of life using science along with nature. 

Other market players include Endoca BV, Gala Herbs, Inc., Your CBD Store, Medterra CBD, LLC, Anthology Brands, The CBDistillery, and NuLeaf Naturals, LLC, among others.

Key Highlights of the Report

Cannabidiol Market Report Snapshots

Cannabidiol Market Size

Cannabidiol Market Share

Cannabidiol Market Analysis

Cannabidiol Companies