Market Insights and Analysis: Global Cannabidiol Market Overview and Projections (2024-2030)
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. The growing inclination of consumers toward natural and plant-based products is a primary factor propelling the growth of the Global Cannabidiol (CBD) Market. This trend is indicative of a larger movement in consumer behavior toward sustainable, healthier lifestyle options as well as a rising knowledge of the possible advantages of compounds derived from plants for well-being and health.
Top leading companies in the Global Cannabidiol Market includes:
Aurora Cannabis Inc, CV Sciences, Endoca, CBD American Shaman, Bluebird Botanicals, Isodiol International, Medical Marijuana Inc, Elixinol, Hemp Inc, Canopy Growth Corporation, Others.
Global Cannabidiol (CBD) Market Driver:
Increasing Consumer Preference for Natural & Plant-Based Products – The need for natural and plant-based goods is growing, which is one of the main factors propelling the Global CBD Market. Growing health and wellness consciousness has led to a noticeable shift in customer preferences toward products that are thought to be natural, organic, and minimally processed. Since CBD is regarded as a natural botanical extract, it fits in nicely with this trend.
Consumer interest in CBD has also increased as a result of the legalization and de-stigmatization of cannabis and products derived from hemp. Customers are more open to investigating CBD products for a range of health and wellness requirements as regulatory obstacles have loosened in many areas. Therefore, this tendency is anticipated to continue to be a major driver of market growth in the coming years as regulatory environments change and knowledge of CBD's potential advantages increases.
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Report Segmentation:
The market is categorized into the following segments in the report:
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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Global Cannabidiol Market Geographic Reach:
The Geographic Reach of the Global Cannabidiol Market evaluates the spread and significance of Global Cannabidiol market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
· North America: The US, Canada, Mexico
· Europe: The UK, The Netherlands, France, Germany, Italy, Rest of Europe
· Asia Pacific: India, Japan, Australia, Thailand, Rest of Asia Pacific.
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