Market Overview: Global Cannabidiol (CBD) Market
MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the Global Cannabidiol (CBD) Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
Cannabidiol (CBD) Market Insights 2024-30
The Global Cannabidiol (CBD) Market size was valued at USD 22.7 billion in 2023 and is projected to grow at a CAGR of around 19.21% during the forecast period, i.e., 2024-30.
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Top Players in the Cannabidiol (CBD) Market:
- Aurora Cannabis Inc
- CV Sciences
- Endoca
- Cannabidiol (CBD) American Shaman
- Bluebird Botanicals
- Isodiol International
- Medical Marijuana Inc
- Elixinol
- Hemp Inc
- Canopy Growth Corporation
- Others
Segmentation Analysis of Cannabidiol (CBD) Market
Cannabidiol (CBD) Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-By Product Type:
- Edibles
- Flower
- Oil & Tinctures
- Pills & Capsules
- Topicals
- Others (Vape, Spray, etc.)
Gummies, candies, brownies, etc., have been a common source in the recreational & medical application of CBD. The primary factor that attributed to the market growth for edibles during 2017-21 is the enhanced taste of CBD through them. Edibles are consumed primarily for leisure, mainly across the US, Canada, the Netherlands, & Uruguay in light of the regulation for legalized CBD.
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-By Application
- Medicinal Use
- Beauty & Personal Care
- Pets
- Recreational
-By Distribution Channel
- Regulated Dispensary
- Stand-Alone Retailers
- Department/Super Stores
- Online Portals
A Comprehensive Geographical Analysis:
-By Region
- North America
- South America
- Europe
- Asia Pacific
- Rest of the World
North America held the dominant share in the CBD Market during the historical period. It attributes primarily to the legalization of cannabis, especially in Canada & the US, for recreational & medical use for health & wellness purposes. Besides, increasing government relaxations toward hemp production, the surging inclination toward using CBD in food & beverages, and escalating research & development in medical cannabis are other crucial factors projected to propel the market growth in the forecast period.
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
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