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Cannabidiol Extract Market - By Type (CBD Oil Extracts {Full Spectrum, Broad Spectrum}, CBD Isolates), By Source (Hemp, Marijuana), By Application (Pharmaceuticals {Transdermal Patches, Suppository}, F&B, Cosmetics), By Region - Global Forecast to 2032

  • Report ID: GMI5474
  • Published Date: Mar 2023
  • Report Format: PDF

Cannabidiol Extract Market Size

Cannabidiol Extract Market size surpassed a valuation of USD 5 billion in 2022 and is foreseen to depict 21% CAGR between 2023 and 2032 on account of soaring product utilization backed by increasing government approvals.

Cannabidiol Extract Market

Extensive uptake of cannabidiol-based products in numerous forms, such as beauty & health, CBD pharmaceutical, and pet products, is propelling market progress. Changing consumer perception about cannabis-derived products and the ways to apply and consume CBD products is likely to promote industry penetration. Additionally, positive legislative actions have amplified CBD use for medical conditions viz., seizures, anxiety, muscle disorders, and Parkinson’s disease. In recent years, CBD-based products have been sold as supplements in several countries, including the U.S., Canada, the UK, the Netherlands, Italy, and so on, which is also forecast to spur industry expansion.

Side effects related to CBD oil to impede cannabidiol extract market progression

While cannabidiol is known for its significance in treating various ailments, such as anxiety, neurological conditions, seizures, cancer-induced nausea, chronic pain, and others, research studies have found that CBD-based products can have certain side effects. Some of these side effects include dry mouth, drowsiness, low blood pressure, light headedness, and so on, which are hampering product adoption. Nonetheless, widespread emphasis on leveraging the potential of CBD as a novel pharmacotherapy, mainly to address unmet clinical needs and manage chronic diseases, is estimated to fuel market share.

Cannabidiol Extract Market Analysis

Global Cannabidiol (CBD) Extract Market Share, By Type

Based on type, the cannabidiol extract market share from the CBD isolates segment is expected to surpass USD 17.5 billion by 2032. CBD isolate, which is the pure and potent form of CBD that contains no THC, terpenes, flavonoids, and other compounds present in cannabis plant, offers numerous benefits, including inflammation, anxiety, and pain relief. Moreover, it offers easy dosing and various consumption methods, including both sublingual administration and as an addition to food & beverages, which is likely to support segment expansion.  

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

CBD Extract Industry surpassed a valuation of USD 5 billion in 2022 and is foreseen to depict 21% CAGR between 2023 and 2032 on account of soaring product utilization backed by increasing government approvals.

Marijuana segment is speculated to exceed USD 9.5 billion in revenue by 2032 bolstered by mounting applications of marijuana-based CBD products for pain relief, depression, and for the treatment of Alzheimer’s disease, dementia, neuropathic pain, and other brain-related illnesses.

North America cannabidiol extract market was worth more than USD 3 billion in 2022 and is projected to exhibit steady progress over the forecast period. Surging adoption of marijuana for medical utilization, such as for managing pain, inflammation, anxiety, and stress among the adult population in the region is likely to boost product sales.

Green Roads, Bedrocan, NuLeaf Naturals, LLC, Global Cannabinoids, SPARKCBD, Mile High Labs International Inc., Rhizo Sciences, Maricann, Inc., and Folium Biosciences, among others, are some key firms operating in the market.

Cannabidiol Extract Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 9
  • Tables & Figures: 317
  • Countries covered: 19
  • Pages: 280
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