The global cannabidiol market size is poised to reach a valuation of around 22.05 billion by 2030. The market is anticipated to grow at a CAGR of 16.8% from 2022 to 2030. The growth of the market is attributed to the rising awareness regarding the benefits of cannabidiol and CBD-based products. The healing properties of these products are creating opportunities for market expansion in health and wellness systems. Moreover, the government approvals of these products are driving market growth.
For various medical applications, cannabinoids are used. Out of all cannabinoids, cannabidiol is placed higher than others due to its therapeutic reasons. Cannabidiol oil is preferred for anxiety and depression treatment solutions, stress relief, pain relief, cancer treatments, and inflammations. Thus, the adoption of CBD-based products is catering the market growth.
Moreover, cannabidiol oil is also being used in skin care products to treat acne and wrinkles. Hence, major companies are now adopting the use of cannabidiol in skincare products. For instance, Sephora, a company working in skincare had started a cannabidiol-based skincare products line in the stores. Additionally, Ulta beauty is willing to launch cannabidiol-based products in a few years. Several other companies are also now focusing on the production of cannabidiol-based cosmetic and beauty products. For instance, Aphria, a Canada-based company involved in the production and distribution of medicinal and recreational cannabis has started the cannabidiol-based cosmetics line in Germany.
CBD has proven to be an effective treatment for several neurological diseases. Hence, governments across the globe are investing in the research and development activities of cannabidiol. Moreover, key players are focusing on new product launches which contain cannabidiol. For instance, Echo Pharmaceuticals introduced a product called Arvisol which contains cannabinoids for the treatment of epilepsy and schizophrenia. Zynerba Pharmaceutical launched the cannabinoid-based gel named Zygel for the treatment of Fragile X syndrome, encephalopathies, and adult seizures.
Cannabidiol Market Report Key Takeaways
- The marijuana segment led the cannabidiol (CBD) market accounting for over 50% of the total market share in 2021. Increasing legalization and adoption of marijuana and its derived products for various medical applications are driving the segment growth
- Owing to the rising demand from the pharmaceutical sectors, cannabidiol derived from hemp is witnessing significant growth. Moreover, the growing awareness among the population about medical applications of cannabidiol is fuelling the segment's growth. Hemp-derived CBD has inflammatory, anti-aging, and antioxidant properties which makes them prominent. Pharmaceuticals, personal care & cosmetics, nutraceuticals, and food & beverages are demanding these products for health and wellness purposes
- The B2B segment led the market accounting for over 50% of the total market share in 2021. Rising demand for CBD oil as a raw material in bulk or wholesale is contributing to the segment growth. The legalization of CBD products in some countries has increased the consumer pool
- The hospital pharmacies of the B2C segment have attracted lucrative growth and are estimated to grow during the forecast period. Moreover, CBD products are creating ample opportunities for companies to invest in segment growth.
- In the B2B end-use, the pharmaceuticals segment accounted for the highest market share of 70% in 2021. Growing trials to determine the impact of CBD on the health of the population are estimated to rise the demand for the product during the forecast period
- North America accounted for a market share of over 85% in 2021 and the region is anticipated to continue to dominate the market in future years. Due to the presence of a large pool of health-centric population and their focus on healthcare are booming the market growth in the region. North America being the most advanced region for the usage of cannabis and its derived products, contain the highest number of companies and stringent regulations regarding product use
- Europe and Asia Pacific markets are expected to gain traction during the forecast period due to the rising production of hemp plants. China is the largest hemp producer in Asia and China contributes to half of the share of the world's hemp cultivation. U.S., Germany, the U.K., the Netherlands, and Japan import 90% of the hemp from China
- Newfound government guidelines and policies to support cannabidiol production and lower their costs are estimated to create a competitive edge for the key players operating in the market
Cannabidiol Market Segments
- Cannabidiol Source Type Outlook (Revenue, USD Million, 2017 - 2030)
- Cannabidiol Sales Type Outlook (Revenue, USD Million, 2017 - 2030)
- B2B
- By End-use
- Pharmaceuticals
- Wellness
- Food & Beverages
- Personal Care & Cosmetics
- Nutraceuticals
- Others
- B2C
- By Sales Channel
- Hospital Pharmacies
- Online
- Retail Stores
- By End-use
- Medical
- Chronic Pain
- Mental Disorders
- Cancer
- Others
- Personal Use
- Cannabidiol End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Medical
- Chronic Pain
- Mental Disorders
- Cancer
- Others
- Personal Use
- Pharmaceuticals
- Wellness
- Food & Beverages
- Personal Care & Cosmetics
- Nutraceuticals
- Others
- Cannabidiol Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- U.K.
- Germany
- Netherlands
- Switzerland
- Italy
- France
- Poland
- Czech Republic
- Croatia
- Asia Pacific
- China
- India
- South Korea
- Japan
- New Zealand
- Australia
- Latin America
- Argentina
- Brazil
- Mexico
- Colombia
- Uruguay
- Chile
- Middle East & Africa (MEA)
- List of key players in the cannabidiol market
- ENDOCA
- Cannoid, LLC
- Medical Marijuana, Inc.
- Folium Biosciences
- Elixinol
- NuLeaf Naturals, LLC
- Isodiol International, Inc.
- Pharmahemp d.o.o.
