Cannabidiol Market is projected to reach USD 22.7 Billion in 2023, with a CAGR of 19.21%

Global Cannabidiol Market Overview:

MarkNtel Advisors has recently published a detailed research report on the Global Cannabidiol Market. The report is specifically tailored to offer valuable insights and support for clients navigating this dynamic market. It focuses on key objectives such as predicting trends, gaining a profound understanding of market perspectives, identifying strategic investment opportunities, and evaluating potential business partners.

Cannabidiol Market Insights and Analysis

The Global Cannabidiol (CBD) Market size was valued at around 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. Our comprehensive report provides a thorough examination of market players, opportunities, and valuable insights, equipping our clients with the indispensable information needed to make well-informed decisions within this dynamically evolving environment.

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Insights into Dominant Segments in the Cannabidiol Market

By analysing each Segments, including

-By Source

Hemp
Marijuana

The hemp segment has gained the largest market share in the past few years. The legal status of CBD generated from hemp in many regions is one of the main causes of its dominance. Many nations, including the US, Canada, EU member states, and others, have legalized hemp farming and the extraction of CBD from it, as long as the tetrahydrocannabinol (THC) percentage stays below a predetermined level (often 0.3% or less). The broad availability and distribution of CBD products produced from hemp through a variety of channels, including retail stores, internet retailers, and wellness stores, has been made easier by this legal certainty.

Furthermore, users who want the possible health benefits of CBD without the psychoactive effects of THC frequently favor CBD obtained from hemp. Additionally, the adaptability of CBD derived from hemp is advantageous since it can be found in a variety of forms, such as oils, tinctures, capsules, consumables, skincare items, and more.

-By Application

Medicinal Use
Beauty & Personal Care
Pets
Recreational

-By Product Type

Edibles
Flower
Oil & Tinctures
Pills & Capsules
Topicals
Others (Vape, Spray, etc.)

-By Distribution Channel

Regulated Dispensary
Stand-Alone Retailers
Department/Super Stores
Online Portals

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Cannabidiol Market Geographical Reach:

The Cannabidiol Market Geographical Reach assesses the distribution and prominence of consumption, highlighting regions that dominate in terms of market size, volume, and promising future growth prospects.

-By Region

North America
South America
Europe
Asia Pacific
Rest of the World

Clients can concentrate their investments on the segments that present the most favourable prospects. This strategic methodology empowers clients to fine-tune their investment portfolio and attain enduring growth within the Cannabidiol market.

Current Landscape of Cannabidiol Market

The key players profiled in the research report are

Aurora Cannabis Inc
CV Sciences
Endoca
Cannabidiol (CBD) American Shaman
Bluebird Botanicals
Isodiol International
Medical Marijuana Inc
Elixinol
Hemp Inc
Canopy Growth Corporation
Others

In light of the ongoing rapid transformations within the Cannabidiol market, retaining a strategic advantage is paramount for both businesses and investors. At MarkNtel Advisors, we exactly identify and study every notable player, taking into account their recent product launches, mergers, acquisitions, and collaborations. This thorough analysis assists our clients in making more accurate projections and staying competitive in the market.

Cannabidiol Market Future Prospects

The outlook for Cannabidiol appears favourable in terms of both revenue share and sales, as evidenced by the market trends. Anticipating continued robust growth over the next five years, market participants are expected to further bolster their portfolios by harnessing technological advancements within the industry. Adding to the market's attractiveness is the widespread application of the product/service across various end-users, allowing market players to establish a solid presence across continents.

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Global Cannabidiol (CBD) Industry Recent Development:

In January 2023: Medical Marijuana, Inc. declared that its subsidiary, HempMeds Brasil, had introduced two new full-spectrum products in Brazil. The doses come in 30 mL and 60 mL jars and range from 3,000 to 6,000 mg.
In January 2022: Elixinol announced the release of two cutting-edge CBD products with a focus on providing support for sleep: the Sleep Rapid Rest Liposome and Sleep Gummies.

Frequently Asked Questions

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