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)
Cannabidiol Market Overview
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.
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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.
Cannabidiol Market Regional Analysis
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.
Cannabidiol Market Competitive Landscape
Key Players
- ENDOCA; Cannoid, LLC
- Medical Marijuana, Inc.
- Folium Biosciences
- Elixinol
- NuLeaf Naturals, LLC
- Isodiol International, Inc.
- Pharmahemp d.o.o.
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Cannabidiol Market Recent Developments
- In October 2020, the Dental College of Georgia and Medical College of Georgia demonstrated the ability of CBD to reduce inflammation and physical lung damage and improve oxygen levels related to adult respiratory distress syndrome.
- In March 2021, Greenheart CBD, an Irish company has become the first CBD company to offer decentralized finance token. The token will help the company to expand and offer cost-effective products to its token holders.
Reasons to Acquire in the Cannabidiol Market
- Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
- Gain authentic and granular data access for Cannabidiol Market so as to understand the trends and the factors involved behind changing market situations
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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