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Cannabidiol (CBD) Market Trends

  • Report ID: GMI4541
  • Published Date: Apr 2022
  • Report Format: PDF

Cannabidiol Market Trends

Cannabidiol-based products are being rigorously adopted in the society in varied forms such as beauty & health products as well as pet products. The main factor which is responsible for the increased adoption is the change in consumer’s beliefs about products derived from cannabis as well as the number of ways cannabidiol products can be applied and consumed.
 

After legalizing cannabidiol in many countries, there has been a fast-growing interest in various product forms such as tinctures, oils, body lotions, capsules, vaping products, transdermal patches, and other personal care products. These products have become popular owing to their multiple uses which includes possible healing properties as well as their ability to soothe pets.
 

In addition, Center for Food Safety (CFS) evaluates companies which sell CBD based products based on their production process, processing methods, testing protocols, and transparency to consumers. Such initiatives by the government spiked the interest of consumers which has led to increased adoption of CBD based products.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global CBD market size was valued at $12.8 billion in 2021 and is estimated to register 21.7% CAGR during the forecast period of 2022-2028.

The CBD oil segment revenue crossed $3.1 billion in 2021 as the product offers many pain-relieving benefits to people suffering from chronic disorders, such as arthritis and cancer.

The chronic pain application segment is predicted to surpass $18.7 billion in the global CBD market by 2028 as the product can relieve severe pain due to its antioxidant and anti-inflammatory properties.

North America CBD market share reached $7.7 billion in 2021 as governments are introducing supportive policies to legalize the use of these products, thereby giving patients the confidence to try alternative treatments.

Cannabidiol Market Scope

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 17
  • Tables & Figures: 393
  • Countries covered: 19
  • Pages: 290
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