The global cannabidiol market is estimated to account for USD 5.2 Billion market size in 2019. The market is anticipated to grow at a compound annual growth rate of 24.5% between 2020 to 2027 as per a new market research report by confianza research. The growth can be attributed to increasing demand for CBD for medicinal usage, especially from the CBD oil market. Moreover, the legalization of CBD & related products in North America has led to substantial CBD industry growth.
Governments of various countries have recently legalized the usage of CBD for industrial usage including the manufacturing of cosmetics, medicines, food products. The lack of psychoactive effects in Cannabidiol makes it one of the most widely used cannabinoids. CBD oil is preferred in the treatment of psychological disease treatment including stress, anxiety, depression. It is the main extract obtained from marijuana or hemp plants. The high prices & profit margins of CBD products has attracted many retailers to sell CBD products.
CBD oil market is driving the market growth
The demand for CBD oil has increased substantially in the last few years, owing to increasing medicinal & therapeutic usage of the CBD oil. North America is the largest producer of CBD oil products & it is expected to continue to dominate the industry over the next decade. it is the main by-product of CBD & has high demand from around the world.
Cannabidiol Market Segmental Insights
Based on source type, the global CBD market is segmented into marijuana bases & Hemp-based CBDs. Among these two, the marijuana-based CBD products hold the largest market share of greater than 50% worldwide. The marijuana-based CBD is more efficient compared to its counterpart. Moreover, marijuana is legally available in many countries, which makes it easier to procure & derive CBD from it. Products are available in lotion, cream, concentrate, oil & capsule form for medicinal & cosmetic usage. CBD in the food industry is used to make baked goods, chocolates & candies for consumption.
The market is segmented on the basis of the distribution channel into B2B & B2C types. The B2C segment accounted for the largest market share in 2019 with greater than 60% market share. Ease of availability of CBD products and increased user demand for such products is driving the segmental growth. The segment will continue to monitor the market over the forecast period with a maximum market share until 2027.
By end-use type, the market can be segmented into medicinal, personal usage, pharmaceutical, wellness products. The medicinal segment dominated the market in 2019 with greater than 40% market share. The increasing number of patients of mental disorders, especially in the urban areas, has increased the demand for CBD based medicinal products substantially. It is used in the treatment of diseases & disorders, including schizophrenia, epilepsy, diabetes, chronic pain, among others.
- Source Type Insights (Revenue, USD Million, 2017 – 2027)
- Distribution Insights (Revenue, USD Million, 2017 – 2027)
- Hospital Pharmacies
- Retail Stores
- By End-use Insights (Revenue, USD Million, 2017 – 2027)
- Chronic Pain
- Mental Disorders
- Personal Use
- Food & Beverages
- Personal Care & Cosmetics
- Regional Insights (Revenue, USD Million, 2017 – 2027)
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- South Africa
- North America
Key Cannabidiol (CBD) Companies Covered In The Report:
- Isodiol International, Inc.
- Medical Marijuana, Inc.
- Cannoid, LLC
- Folium Biosciences
- NuLeaf Naturals, LLC
- Pharmahemp d.o.o.