Cannabidiol Market Size, Share & Trends Analysis Report by Source Type (Hemp, Marijuana), By Distribution Channel (B2B, B2C), By End-use (Medical, Personal Use), By Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
The global cannabidiol market size was valued at USD 2.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028.
CBD, or cannabidiol, is the second most prevalent active ingredient in cannabis (marijuana). While CBD is an essential component of medical marijuana, it is derived directly from the hemp plant, a cousin of marijuana, or manufactured in a laboratory.
Due to its healing properties, the demand for cannabidiol (CBD) for health and wellness purposes is high are some of the factors that have supported long-term expansion for Cannabidiol Market.
As the response to COVID-19 ramps up, retail stores have shut down, thereby impacting the sales of CBD products. Disruptions in the supply chain have led to limitations on the supply of other raw materials, hampering growth.
North America dominated the market with a revenue share of 37.3% and will continue to retain its leading position in the market. The presence of large health-conscious people in the region, growing acceptance for CBD-based products, the presence of major manufacturers, and approval of the U.S. Farm Bill in 2020 are some of the major factors driving the growth of the region.
Insights are provided for each region and major countries within the regions
Report Feature |
Descriptions |
---|---|
Growth Rate |
CAGR of 21.2% during the forecasting period, 2021-2028 |
Historical Data |
2018-2019 |
Forecast Years |
2021-2028 |
Base Year |
2020 |
Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
Report Segmentation |
source type, distribution channel, end user and region. |
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
Companies Profiled |
ENDOCA; Cannoid, LLC; Medical Marijuana, Inc.; Folium Biosciences; Elixinol; NuLeaf Naturals, LLC; Isodiol International, Inc.; Pharmahemp d.o.o. |
Available Customization |
In addition to the market data for Cannabidiol Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Cannabidiol Market is segmented into source type, distribution channel, end user and region.