Cannabidiol Market Forecasts to 2030 - Global Analysis By Product Type, Source, Distribution Channel, Route of Administration, Application, End User and By Geography

According to Stratistics MRC, the Global Cannabidiol Market is accounted for $7.6 billion in 2024 and is expected to reach $21.8 billion by 2030 growing at a CAGR of 19.1% during the forecast period. Cannabidiol (CBD) is a natural compound found in the cannabis plant, specifically in hemp. Unlike its psychoactive counterpart, THC, CBD does not produce a "high." It has gained significant attention for its potential therapeutic properties, such as reducing anxiety, pain, and inflammation. CBD is commonly used in oils, capsules, edibles, and topical products. Research is ongoing to explore its effectiveness for various health conditions, though its use and regulation vary by country due to differing legal statuses of cannabis.

According to the International Facility Management Association (IMFA), 84% of in-store operations were affected due to the pandemic, of which food services represented a significant share in 2020.

Market Dynamics:

Driver:

Increasing legalization and acceptance

The increasing legalization and acceptance of cannabidiol (CBD) across the globe is rapidly expanding its market. As more countries and states embrace CBD for its potential therapeutic benefits, consumer demand grows. CBD is now widely used in wellness products, skincare, and even food and beverages. This shift is driven by growing awareness of its non-psychoactive properties, coupled with scientific research supporting its safety and health benefits, fostering greater industry growth and innovation.

Restraint:

Lack of standardized testing and quality control

The lack of standardized testing and quality control in the market poses significant risks to consumers. Without consistent testing, products may vary widely in potency, purity, and safety, leading to unreliable experiences and potential health risks. Contamination with harmful substances, such as pesticides or heavy metals, is also a concern. This lack of regulation undermines consumer trust and hampers the growth of the industry, as inconsistent product quality makes it difficult for brands to build credibility.

Opportunity:

Growing consumer interest in natural and organic products

The growing consumer interest in natural and organic products has significantly influenced the market. As more people seek wellness solutions that align with holistic and sustainable lifestyles, CBD products derived from organic hemp are becoming increasingly popular. Consumers are prioritizing transparency, quality, and eco-friendly practices, driving demand for organic CBD oils, edibles, and skincare. This shift towards natural alternatives is fueling market growth, with an emphasis on purity, health benefits, and ethical sourcing.

Threat:

Misconceptions and stigma

Misconceptions and stigma surrounding cannabidiol continue to hinder its widespread acceptance in the market. Despite its non-intoxicating nature, CBD is often mistakenly associated with marijuana's psychoactive effects, causing confusion and reluctance among potential consumers. This stigma, coupled with misinformation, can discourage people from exploring its therapeutic benefits. Additionally, it impedes regulatory progress, as lawmakers may hesitate to establish clear guidelines.

Covid-19 Impact:

The COVID-19 pandemic had a mixed impact on the market. While demand for wellness products surged as consumers sought immunity-boosting and stress-relief solutions, supply chain disruptions and store closures hindered product availability. Additionally, economic uncertainty led some consumers to prioritize essential goods, affecting CBD sales. However, the rise of e-commerce and increased awareness of mental health during the pandemic ultimately contributed to long-term market growth.

The hemp-derived segment is expected to be the largest during the forecast period

The hemp-derived segment is expected to account for the largest market share during the projection period due to increasing consumer demand for natural wellness products. Hemp-derived CBD, known for its potential health benefits, is used in various applications such as skincare, dietary supplements, and pain management. Legalization in many regions, along with growing awareness about its therapeutic properties, has fueled market expansion. As a result, the hemp-derived CBD market continues to attract significant investment and innovation.

The medical segment is expected to have the highest CAGR during the forecast period

The medical segment is expected to have the highest CAGR during the extrapolated period. CBD is increasingly recognized for its effectiveness in treating conditions like chronic pain, epilepsy, anxiety, and insomnia. With more countries legalizing medical CBD and ongoing clinical trials supporting its benefits, the market is poised for significant growth. The demand for medical-grade CBD products, including oils, capsules, and tinctures, continues to rise among consumers seeking alternative treatments.

Region with largest share:

North America region is estimated to account for the largest market share during the forecast period driven by increasing consumer demand for natural wellness products. In the U.S. and Canada, the legal framework surrounding CBD has evolved, with many states and provinces legalizing cannabis-based products for medical and recreational use. The market is also supported by the growing trend of wellness and natural remedies, attracting a wide consumer base and fueling strong demand for CBD-infused products.

Region with highest CAGR:

Asia Pacific is expected to register the highest growth rate over the forecast period driven by health trends, regulatory changes, and technological advancements. There is a rising prevalence of mental disorders and neurological diseases, which is increasing the demand for CBD as a therapeutic option. The rise of e-commerce platforms allows CBD companies to reach consumers directly, facilitating market entry before physical retail infrastructures are fully developed.

Key players in the market

Some of the key players in Cannabidiol Market include Medical Marijuana, Inc., High Tide, Inc., Curaleaf Holdings, Trulieve Cannabis Corp., Canopy Growth Corporation, Tilray Brands, Aurora Cannabis Inc., Charlotte's Web Holdings, Inc., GW Pharmaceuticals plc, Lazarus Naturals, Select CBD, Veritas Farms, HempFusion, CBDistillery and Plus Products.

Key Developments:

In January 2024, Aurora Cannabis Inc., an American cannabis-based products manufacturing company, launched cannabis-infused ready-to-drink product produced by Vacay and Versus. The newly launched products are available in three different fruit flavors - Neon Rush, Strawberry Pineapple Tropical Fizz, and Pineapple Coconut Fizz.

In January 2023, Medical Marijuana, Inc.'s subsidiary HempMedsBrasil introduced two new full-spectrum cannabidiol products in Brazil, available in concentrations ranging from 3,000-6,000 mg and sizes of 30 mL and 60 mL.

Product Types Covered:

• Cannabidiol Oil
• Cannabidiol Capsules and Softgels
• Cannabidiol Edibles
• Cannabidiol Topicals
• Cannabidiol Cosmetics
• Other Product Types

Sources Covered:

• Hemp-Derived
• Marijuana-Derived

Distribution Channels Covered:

• Online Retail
• Specialty Stores
• Supermarkets & Hypermarkets
• Pharmacies & Drug Stores

Route of Administrations Covered:

• Oral
• Topical
• Transdermal Patches
• Inhalation

Applications Covered:

• Health & Wellness
• Medical
• Cosmetics & Personal Care
• Food & Beverages
• Other Applications

End Users Covered:

• Adults
• Elderly Population
• Pets
• Athletes & Fitness Enthusiasts
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances