Market Overview: Global Cannabidiol Market
MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the Global Cannabidiol Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
Cannabidiol Market Insights 2024-30
The Global Cannabidiol Market size was valued at around USD 22.7 billion in 2023 and is projected to grow at a CAGR of around 19.21% during the forecast period, i.e., 2024-30.
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Top Players in the Cannabidiol Market:
- Aurora Cannabis Inc
- CV Sciences
- Endoca
- Cannabidiol (CBD) American Shaman
- Bluebird Botanicals
- Isodiol International
- Medical Marijuana Inc
- Elixinol
- Hemp Inc
- Canopy Growth Corporation
- Others
Segmentation Analysis of Cannabidiol Market
Cannabidiol Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-By Source
- Hemp
- Marijuana
The hemp segment has gained the largest market share in the past few years. The legal status of CBD generated from hemp in many regions is one of the main causes of its dominance. Many nations, including the US, Canada, EU member states, and others, have legalized hemp farming and the extraction of CBD from it, as long as the tetrahydrocannabinol (THC) percentage stays below a predetermined level (often 0.3% or less). The broad availability and distribution of CBD products produced from hemp through a variety of channels, including retail stores, internet retailers, and wellness stores, has been made easier by this legal certainty.
Furthermore, users who want the possible health benefits of CBD without the psychoactive effects of THC frequently favor CBD obtained from hemp. Additionally, the adaptability of CBD derived from hemp is advantageous since it can be found in a variety of forms, such as oils, tinctures, capsules, consumables, skincare items, and more.
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-By Application
- Medicinal Use
- Beauty & Personal Care
- Pets
- Recreational
-By Product Type
- Edibles
- Flower
- Oil & Tinctures
- Pills & Capsules
- Topicals
- Others (Vape, Spray, etc.)
-By Distribution Channel
- Regulated Dispensary
- Stand-Alone Retailers
- Department/Super Stores
- Online Portals
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A Comprehensive Geographical Analysis:
-By Region
- North America
- South America
- Europe
- Asia Pacific
- Rest of the World
In terms of market size, revenue generation, product diversity, consumer adoption, etc., North America holds the largest share of the Global CBD Market. The region’s dominant position in the global Cannabidiol Market is a result of several reasons. When it comes to the legalization of cannabis and goods derived from hemp, such as CBD, for both medicinal and recreational uses, North America has led the way. Progressive regulatory frameworks that have been put in place in the US and Canada permit the manufacturing, sale, and use of CBD products as long as they adhere to a few rules and limitations. The market ecosystem has grown significantly as a result of regulatory clarity, and a multitude of businesses are involved in all aspects of the CBD value chain, from product manufacture and distribution to extraction and cultivation.
Moreover, demand for products manufactured with CBD is being driven by North America’s sizable and affluent customer base, which is becoming more and more interested in natural health and wellness products.
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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 119.21 diverse industrial verticals.
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