PUBLISHER: 360iResearch | PRODUCT CODE: 1467998
PUBLISHER: 360iResearch | PRODUCT CODE: 1467998
[186 Pages Report] The CBD Consumer Health Market size was estimated at USD 10.77 billion in 2023 and expected to reach USD 12.46 billion in 2024, at a CAGR 15.79% to reach USD 30.07 billion by 2030.
The CBD consumer health market encompasses the sales, distribution, and consumption of cannabidiol (CBD) infused products aimed at improving overall health and wellness. The primary applications of these CBD-based products include pain management, stress relief, anxiety alleviation, and improvement in sleep quality. The increased awareness about the therapeutic benefits of CBD among consumers worldwide has improved the use of CBD consumer health products across the nutraceutical sector. Moreover, the relaxation of stringent regulations related to hemp cultivation and production has enhanced the production and availability of CBD consumer health products worldwide. The high costs associated with CBD consumer health products, along with inconsistent regulatory frameworks across different regions, have limited the product penetration of CBD consumer health products. However, the ongoing clinical trials investigating its effectiveness in treating various illnesses and continued investment from private investors and public sectors for exports and imports of medicinal CBD are expected to create growth opportunities for the CBD consumer health market in the coming years.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 10.77 billion |
Estimated Year [2024] | USD 12.46 billion |
Forecast Year [2030] | USD 30.07 billion |
CAGR (%) | 15.79% |
Product: Popularity of CBD-infused medical OTC products due to easy availability and improved awareness regarding their health benefits
CBD analgesic products that assist with inflammation, anxiety, and sleep are available in CBD oil after excluding tetrahydrocannabinol (THC) or terpenes. CBD is useful for treating many skin conditions, including acne, eczema, and psoriasis, with potential anti-inflammatory properties that may tamp down itch, as CBD creams may help reduce dryness. Additionally, CBD health products are available as CBD mental health products to help treat severe medical conditions such as multiple sclerosis, cancer, Parkinson's, Alzheimer's, anxiety, and depression. CBD is also available as a sleeping aid as part of a new line of cannabinoid-infused products, including a special CBD tincture for sleep, promoting a more relaxing, stress-free sleep. On the other hand, the nutraceuticals of CBD include CBD sports nutrition products such as CBD oil or tinctures, gummies, or capsules, which have the potential as a pre-workout and recovery tool to improve focus and reduce recuperation time. In addition, CBD is available as CBD vitamins and dietary supplements act as an adaptogen as the healing plant can adapt to an individual's needs and help regulate homeostasis. Moreover, CBD is used for weight management and well-being as its properties lower food intake and enhance metabolism, which can help with weight reduction.
Distribution Channel: Improved consumer preference for buying CBD consumer health products on online platforms
CBD consumer health products are readily available on company websites, and customers may browse through various new and exciting products from the comfort of their homes. The online stores for CBD consumer health products are cost-effective, and consumers can find and purchase any unavailable product through offline stores. Moreover, with recent surges in popularity, FDA guidance, and state legislation within the landscape of cannabis-derived compounds, retail pharmacies are increasingly supplying cannabidiol (CBD) consumer health products. Health and wellness retailers are more prevalent in distributing CBD consumer health products, mostly available in large-scale retail stores where the consumers can physically visit the store and select according to their needs and preferences.
Regional Insights
The CBD consumer health market in the Americas is rapidly proliferating due to the legalization of cannabis cultivation and production, ongoing developments in CBD consumer health products, and increased consumer awareness toward the health benefits of CBD consumer health. Canadian consumers also show a growing interest in CBD for health and wellness purposes, as reflected by Health Canada's recent regulatory changes to provide easier access to cannabis-infused products. The rising number of clinical trials to evaluate CBD's potential benefits for various health conditions, such as anxiety, inflammation, pain management, and sleep disorders are expanding the scope for CBD consumer health products in the EMEA region. The Asia-Pacific region represents a rapidly evolving CBD consumer health market due to the flourishing nutraceutical and skincare industry, along with growing investments for CBD in the field of oncology.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the CBD Consumer Health Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the CBD Consumer Health Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the CBD Consumer Health Market, highlighting leading vendors and their innovative profiles. These include Aurora Cannabis Inc., Canopy Growth Corporation, CBD American Shaman, CBDepot s.r.o, Charlotte's Web Holdings, Inc., Columbia Care Inc., Croda International PLC, Curaleaf, Inc., CURE Pharmaceutical Holding Corp., CV Sciences, Inc., Elixinol LLC, Endoca BV, Gaia Botanicals, LLC, Global Cannabinoids Inc., HEXO Corp., Isodiol International Inc., Jazz Pharmaceuticals, Inc., Joy Organics LLC, Kazmira LLC, Koninklijke DSM N.V., Medical Marijuana, Inc., Medterra CBD, LLC., Noramco, Inc., and NuLeaf Naturals, LLC.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the CBD Consumer Health Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the CBD Consumer Health Market?
3. What are the technology trends and regulatory frameworks in the CBD Consumer Health Market?
4. What is the market share of the leading vendors in the CBD Consumer Health Market?
5. Which modes and strategic moves are suitable for entering the CBD Consumer Health Market?