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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Cannabidiol Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global market size for cannabidiol reached a value of more than USD 7.10 billion in 2023.
The market is expected to grow at a CAGR of 19.4% between 2024 and 2032.
The global market size for cannabidiol is expected to reach a value of more than USD 35.02 billion by 2032.
The major market drivers are therapeutic benefits, increasing demand for cannabidiol by consumers owing to its healing properties, and increasing awareness.
The key trends of the market are government approvals for use, applications in skin care products, and increasing use in the health and wellness industry.
Key market players include 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, and NuLeaf Naturals, LLC.
Cannabidiol is an active ingredient found in the cannabis sativa plant.
Cannabidiol has numerous health benefits as it helps reduce PTSD symptoms, ease diabetic complications, treats opioid addiction, offsets depression and anxiety, protects against neurological diseases, relieves pain, and alleviates ALS symptoms.
The global cannabidiol market is segmented based on source, end use, distribution channel, and region.
The primary end uses of cannabidiol are pharmaceuticals, nutraceuticals, medical, personal care and cosmetics, and food and beverage, among others.
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