Shaping the Future: Cannabidiol Market Trends and Forecasts for 2030

Global Cannabidiol Market Overview:

According to MarkNtel Advisors study 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.

Key Findings of the Study: Cannabidiol market

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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Scope of the Cannabidiol Market Report Segmentation

-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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Geographical analysis:

-By Region

North America
South America
Europe
Asia Pacific
Rest of the World

In terms of market size, revenue generation, product diversity, consumer adoption, etc., North America holds the largest share of the Global CBD Market. The region's dominant position in the global Cannabidiol (CBD) Market is a result of several reasons. When it comes to the legalization of cannabis and goods derived from hemp, such as CBD, for both medicinal and recreational uses, North America has led the way. Progressive regulatory frameworks that have been put in place in the US and Canada permit the manufacturing, sale, and use of CBD products as long as they adhere to a few rules and limitations. The market ecosystem has grown significantly as a result of regulatory clarity, and a multitude of businesses are involved in all aspects of the CBD value chain, from product manufacture and distribution to extraction and cultivation.

Moreover, demand for products manufactured with CBD is being driven by North America's sizable and affluent customer base, which is becoming more and more interested in natural health and wellness products.

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.

Current Landscape of Cannabidiol Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Cannabidiol market. The research report profiles major players, including

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

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