Cannabidiol (CBD) Market, By Source (Hemp and Marijuana), By Application (Pharmaceuticals, Cosmetics & Personal Care, Food & Beverages, and Others), By Distribution Channel (Online Stores, Retail Pharmacies, Hospitals, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Cannabidiol (CBD) Market was valued at US$ 7.2 Billion in 2024 and is projected to grow at a CAGR of 10.3% to reach US$ 17.5 Billion by 2034.

Cannabidiol (CBD) is a naturally occurring compound found in the cannabis plant. It belongs to a group of chemical compounds called cannabinoids. While CBD shows potential, it is not a miracle cure, and its effects can vary from person to person. It's advisable to consult with a healthcare professional before using CBD, especially if you have any underlying medical conditions or are taking other medications.

Cannabidiol (CBD) has gained significant acceptance and recognition worldwide. Many countries and states have legalized the production, sale, and use of CBD products to varying extents. As more regions embrace CBD and implement favorable regulations, it is likely to lead to an expansion of the market. Further, as people seek natural alternatives for wellness and explore non-pharmaceutical options, Cannabidiol (CBD) has emerged as a popular choice and therefore, this rising awareness and interest among consumers are expected to drive Cannabidiol (CBD) Market growth.

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Increasing Acceptance and Legalization

Growing knowledge of Cannabidiol’s (CBD) potential health advantages and its non-intoxicating properties has assisted in destigmatizing the plant. The way everyone views Medical Cannabis and CBD has changed significantly over time. As a result, more people are open to exploring CBD as a natural wellness option, leading to increased acceptance and Cannabidiol (CBD) Market growth.

Rising Consumer Demand for Natural and Holistic Remedies

Increased consumer knowledge and interest in CBD have been facilitated by the growth of social media platforms and influencer cultures. The demand for natural medicines like CBD has increased as a result of influencers and regular people talking about their positive experiences using CBD. Also, many consumers are increasingly seeking natural alternatives to conventional Pharmaceutical products. This shift is driven by a desire for products that are perceived as safer, more sustainable, and aligned with a holistic approach to health and wellness. CBD, being derived from a plant source, fits well within this preference for natural remedies.

Restrains:

While there is a growing body of research on CBD, there is still a need for more comprehensive studies to understand its long-term effects, optimal dosages, and potential drug interactions. Limited scientific evidence can create skepticism among consumers and healthcare professionals, potentially impacting Cannabidiol (CBD) Market growth.

Cannabidiol (CBD) Market is segmented based on Source, Application, Distribution Channel and Region.

• Source Insight

On the basis of Source, Cannabidiol (CBD) Market is segmented into Hemp and Marijuana. Hemp is expected to dominate the target market growth as Hemp is a variety of the Cannabis sativa plant that is specifically cultivated for industrial purposes. It is characterized by its low THC (tetrahydrocannabinol) content, the psychoactive compound responsible for the "high" associated with marijuana. Hemp plants contain higher levels of CBD and other non-intoxicating cannabinoids.

• Application Insights

On the basis of Application, Cannabidiol (CBD) Market is segmented into Pharmaceuticals, Cosmetics & Personal Care, Food & Beverages, and Others.  Pharmaceuticals are expected to dominate the target market growth as CBD has gained significant attention in the pharmaceutical industry due to its potential therapeutic properties. The U.S. Food and Drug Administration (FDA) has approved a CBD-based medication called Epidiolex for the treatment of certain forms of epilepsy.

• Distribution Channel Insights

On the basis of Distribution Channel, Cannabidiol (CBD) Market is segmented into Online Stores, Retail Pharmacies, Hospitals, and Others. Retail Pharmacies are expected to dominate target market growth as in retail pharmacies, both traditional brick-and-mortar stores and online pharmacies, are another common distribution channel for CBD products. As CBD gains acceptance and regulations allow for its sale, many pharmacies are expanding their product offerings to include CBD.

• Regional Insights:

On the basis of region the Cannabidiol (CBD) Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North American region, specifically the United States, is estimated to witness a significantly high revenue share in the Cannabidiol (CBD) market. The United States has experienced significant developments in the legalization of CBD.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Cannabidiol (CBD) Market report based on Source, Application, Distribution Channel and Region:

Cannabidiol (CBD) Market, By Source:

• Hemp
• Marijuana

Cannabidiol (CBD) Market, By Application:

• Pharmaceuticals
• Cosmetics & Personal Care
• Food & Beverages
• Others

Cannabidiol (CBD) Market, By Distribution Channel:

• Online Stores
• Retail Pharmacies
• Hospitals
• Others

Cannabidiol (CBD) Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating the Cannabidiol (CBD) Market includes, Cannoid, LLC, Mary's Medicinals, Medical Marijuana, Inc., Canopy Growth Corporation, Elixinol LLC, NuLeaf Naturals, LLC, Aphria Inc., Folium Biosciences, Aphria, Inc., ENDOCA, Isodiol International, Inc., and CV Sciences, Inc.

• In May 2023, Naka launched all- natural CBD water as a substitute for alcoholic drinks. The drink, which aims to promote relaxation and lower alcohol consumption, and has 30 mg equivalent CBD per can. The company worked with the French graphics team at Ardagh Metal Packaging to make the can's artwork, which was created by illustrator Jason Lyon.
• In September 2022, BASF launched a product ComfortBD which is a high-quality, fully traceable CBD ingredient grown in United States. It’s extracted using subcritical CO2. In-depth in vitro and in vivo research conducted by the company to support the product introduction showed substantial improvements in the appearance of glossy, oily skin as well as red and irritated skin while also enhancing the skin barrier.
• In October 2021, Karma Water is expanding its line of wellness and probiotic drinks by collaborating with Canadian cannabis industry powerhouse Canopy Growth to launch a new CBD water. The launch of Karma CBD Water on the market demonstrates the value of working together among startup companies with various consumer value propositions inside the ecosystem in which the three brands operate.  

• Cannoid, LLC *
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Mary's Medicinals
• Medical Marijuana, Inc.
• Canopy Growth Corporation
• Elixinol LLC
• NuLeaf Naturals, LLC
• Aphria Inc.
• Folium Biosciences
• Aphria, Inc.
• ENDOCA
• Isodiol International, Inc.
• CV Sciences, Inc.

“*” marked represents similar segmentation in other categories in the respective section