Cannabinoids Market Analysis

Cannabinoids Market Analysis

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The cannabinoids market is segmented by type into cannabidiol (CBD), cannabinol (CBN), cannabigerol (CBG), and cannabidiolic Acid (CBDA). The CBD segment is further sub-segmented into product and application; including the product categories CBD oil and CBD isolate and the application sub-segments of cosmetics, food and drinks, and pharmaceuticals. The CBD oil product segment is further divided into CBD broad spectrum oil and CBD full spectrum oil.
 

The market share is anticipated to rise in the ensuing years owing to the increasing number of people using CBD oil to treat a variety of illnesses, including anxiety, nausea, pain, inflammation, and sleep disorders. Depending on the indication, CBD oil can be simply applied or eaten. Some studies even state that CBD oil may be useful in alleviating cancer-related symptoms and some side effects pertaining to cancer treatment, such as chronic pain and nausea. Cannabidiol (CBD) segment was valued at over USD 9 billion in 2021 and is anticipated to grow significantly during the forecast period.
 

Europe cannabinoids market is anticipated to cross USD 17 billion by 2030. Growing health consciousness among Europeans and increasing awareness of the health benefits linked with the use of cannabinoid products is leading to an increase in the number of market players in the region. Additionally, the number of government approvals for such products is also depicting an upsurge across the European economies, which is predicted to boost the market forecasts.