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Navigating the CBD Market: The Impact of Legalization, Consumer Awareness, and Technological Advancements

The global cannabidiol market size is expected to reach USD 22.05 billion by 2030, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.8% from 2024 to 2030. Changing consumer attitudes towards CBD products, shifting public opinion, and growing recognition of the health benefits of cannabidiol are some of the main factors contributing to the market's growth. The cannabis Sativa plant contains more than 80 cannabinoids, but cannabidiol is the most widely used for medical purposes because of its lack of psychoactive effects. It is primarily obtained from hemp due to its high CBD content.

Cannabidiol Market Report Highlights

  • North America accounts for the largest with a market share of 87.4% in 2023 owing to the presence of major manufacturers, and approval of the U.S. Farm Bill are some of the major factors driving the growth of the region
  • Hemp-derived CBD dominated the market in 2023, with a market share owing to its higher purity and potential health benefits
  • B2B segment accounts for the largest market share in 2023 owing to increasing demand and a rising number of businesses using cannabidiol as raw materials
  • In 2023, the pharmaceuticals segment accounted for the largest market share in the end-use market owing to rising use of cannabis derivate for various medical conditions

For More Details or Sample Copy please visit link @: Cannabidiol Market Report

There is a high demand for various CBD-infused products, such as beauty products, cannabis oil, beverages, gummies, capsules, etc. CBD can enter the human body through different means, including vaping, smoking, and through the skin. In the U.S., where cannabis is legal, CBD is utilized to produce personal care products and medical drugs. Legalizing cannabis-based products has opened up significant opportunities for various end-use industries to expand their product offerings.

Major players in the industry are focused on introducing CBD-infused products. Companies are exploring opportunities in international markets as the demand for CBD grows globally. Furthermore, they are investing in research and development to enhance the effectiveness and efficiency of their products, as well as to expand their offerings. The players are introducing new and innovative products, such as edibles, topicals, and beverages, to cater to the growing demand. For instance, in May 2022, Medical Marijuana, Inc. announced the launch of a pharma subsidiary in Brazil named “HM Pharma” to expand its access to CBD products in pharmacies.

List of Key Players of Cannabidiol Market

  • ENDOCA
  • Cannoid, LLC
  • Medical Marijuana, Inc.
  • Folium Europe B.V.
  • Canopy Growth Corporation
  • Elixinol
  • NuLeaf Naturals, LLC
  • Isodiol International, Inc.
  • PharmaHemp
  • The Cronos Group

We have segmented the global cannabidiol market based on source type, sales type, end-use, and region:

Cannabidiol (CBD) Source Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Hemp
  • Marijuana

Cannabidiol (CBD) Sales Type Outlook (Revenue, USD Million, 2018 - 2030)

  • B2B
  • B2C

Cannabidiol (CBD) End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Medical
  • Personal Use
  • Pharmaceuticals
  • Wellness

Cannabidiol (CBD) Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Contact:

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll-Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: grandviewresearch.com

 

#CannabidiolMarket #CBDIndustry #CBDMarketTrends #CBDGrowth #HempIndustry #CBDOil #CBDEdibles #CBDSkincare #CBDWellness #CBDSupplements #MedicalCBD #CBDForHealth #CBDBeauty #CBDTherapeutics #CBDBeverages

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