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| Global Cannabidiol (CBD) Consumer Health Market Size |
The global Cannabidiol Consumer Health Market is estimated to be valued at US$ 19.0 Bn in 2023 and is expected to
exhibit a CAGR of 23% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
The Cannabidiol Consumer Health Market comprises products containing
Cannabidiol (CBD) for treating various health issues. CBD products are gaining
popularity due to potential medical benefits of CBD in reducing anxiety, pain
relief, epilepsy treatment, etc. without the psychoactive effects of marijuana.
Market key trends:
One of the major trends in the Cannabidiol Consumer Health Market is increasing
demand for CBD-infused food and beverages. The CBD food and beverage industry
is growing at a rapid pace with the introduction of variety of products.
CBD-infused water, coffee, tea, snacks and sweets are trending among
health-conscious consumers. The introduction of innovative products is driving
popularity of CBD-infused food and beverages. CBD oil and tinctures are
commonly used ingredients for food and beverage preparation. Rising awareness
about medicinal properties of CBD for treatment of issues like insomnia,
anxiety is boosting product adoption.
Segment Analysis
The global cannabidiol consumer health market is segmented on the basis of
product type, distribution channel, and region. Based on product type, the
market is segmented into CBD oil tinctures, topicals, capsules and softgels,
gummies, and others (like isolates, powders, syrup, and vape cartridges). Among
these, CBD oil tinctures dominate the market and accounted for over 30% of the
global sales in 2022. CBD oil tinctures are preferred over other forms as they
are easy to consume and provide high bioavailability.
Key Takeaways
The Global
Cannabidiol (CBD) Consumer Health Market Size is expected to witness
high growth, exhibiting CAGR of 23.%
over the forecast period, due to increasing adoption of CBD-based products for
various health conditions. The global cannabidiol consumer health market size
for 2023 is US$ 19.0 Bn.
Regional analysis
North America dominates the global cannabidiol consumer health market with over
40% share. U.S. is the largest regional market due to growing consumer
awareness and legalization of CBD products. Europe holds the second position in
the global market due to increasing consumer acceptance of CBD-based offerings.
Key players
Key players operating in the cannabidiol consumer health market are CV
Sciences, Inc., Medical Marijuana, Inc., AXIM-Biotechnologies, Inc.,
Charlotte's Web, Endoca, Isodiol International Inc., Elixinol, Folium
Biosciences, NuLeaf Naturals, LLC, Cannoid, LLC, among others. These companies
hold significant share of the global market. They are involved in new product
development and focusing on cannabis extracts to strengthen their market
position.
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