MarkNtel Advisors has published a research report for the forecast period 2022-27, according to which the Global Cannabidiol (CBD) Market is projected to grow at a CAGR of 30.48% during the forecast period, i.e., 2022-27. As per the analysis, the Cannabidiol (CBD) Market has consistently grown globally during the historical period, primarily due to the growing legalization of CBD for medicinal uses and increasing research & development for its more diversified use. The medical industry has experienced ascension with the ever-increasing government support for CBD applications in food & beverages.
Global Cannabidiol (CBD) Market Research Report: Forecast (2022-27)
- 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)
- By Region (North America, South America, Europe,Asia Pacific, Rest of the World)
- By Company (Aurora Cannabis Inc., CV Sciences, Endoca, CBD American Shaman, Bluebird Botanicals, Isodiol International, Medical Marijuana Inc., Elixinol, Hemp Inc., Canopy Growth Corporation, Others)
The utilization of CBD for medicinal purposes has furthered over the last few years, garnering maximum market share. Thanks to the sanctioned use of cannabidiol for medical applications in various countries, including India, Argentina, Nordic countries, and others. The human body relies on endocannabinoids to regulate emotions, stress, and sleep. These endocannabinoids are either naturally released in the body, obtained through dietary intake, or can be introduced and regulated through controlled doses of cannabidiol-based products.
The increasing preference for CBD in addressing mental health issues such as anxiety, stress, depression, and insomnia, as well as managing chronic pains, and migraines, has propelled the demand for CBD for medical purposes in the historical period. This growing demand has, in turn, contributed significantly to the market's overall expansion.
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North America emerged as the primary contributor to the Cannabidiol (CBD) Market, primarily driven by the legalization of cannabis, particularly in Canada and the United States. This legalization focused on health and wellness for recreational and medical purposes. Other than this, the market is expected to experience substantial growth in the forecast period due to the progressive governmental attitudes towards hemp production, a rising preference for incorporating CBD into food and beverages, and a significant surge in research and development activities in medical cannabis.
The Global Cannabidiol (CBD) Market Research Report provides in-depth profiles of key market players, thoroughly analyzing their strategic approaches, trends, innovations, and manufacturing infrastructure to forecast their expected market presence over the next five years. Equipped with relevant data and actionable insights, our research report offers a comprehensive overview of the market landscape, empowering investors and stakeholders to establish a strong position in the Global Cannabidiol (CBD) Market. The report highlights major players such as Aurora Cannabis Inc., CV Sciences, Endoca, CBD American Shaman, Bluebird Botanicals, Isodiol International, Medical Marijuana Inc., Elixinol, Hemp Inc., Canopy Growth Corporation, Others, along with their respective net worth and valuation in USD.
The US government, after controlled clinical trials, granted approval for a CBD-based drug for the treatment of epilepsy in 2018. This significant development has paved the way for similar approvals of CBD-based drugs and medicines by government authorities worldwide, thereby fueling the anticipated growth of the Global Cannabidiol (CBD) Market from 2022 to 2027. Noteworthy instances include:
- In 2018, the U.S. Food & Drug Administration approved Epidiolex (CBD) oral solution specifically designed to treat two severe epilepsies associated with seizures.
- The United Kingdom government granted doctors the authority to prescribe CBD-based products.
- South Korea's government has legalized and implemented strict regulations on the use of CBD-based medicines and products.
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