The global cannabidiol market size is expected to reach USD 23.6 billion. Increasing adoption of cannabidiol (CBD) infused products in various industries such as pharmaceuticals, personal care and cosmetics, and nutraceuticals along with its medical applications is expected to drive the market over the forecast period.
The marijuana-derived CBD segment
dominated the market in 2018, with a revenue of USD 3.9 billion, owing to the
growing legalization of marijuana-derived products in various countries.
Availability of marijuana-derived CBD products in dispensaries as well as
government-approved pharmacies and stores and high efficacy of
marijuana-derived CBD compared to hemp-derived CBD are some of the pivotal
factors for the growth of the segment.
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The Business to Consumer (B2C) segment
accounted for the largest market share in 2018 and is expected to exhibit the
fastest growth rate over the forecast period. Ease of availability of a wide
range of CBD based products to the consumers is one of the key factors driving
the growth of this segment. Furthermore, increasing adoption of cannabidiol
infused pharmaceuticals for various conditions such as chronic pain, epilepsy,
autism, and anxiety is anticipated to support the growth of this segment over
the forecast period.
In 2018, the medical segment dominated
the end-use segment, with a revenue share of 44.5%, owing to the higher
adoption of cannabidiol infused products for medical purposes due to their
healing properties. On the other hand, the pharmaceutical segment is expected
to witness the fastest CAGR over the forecast period. Companies are focusing on
manufacturing products that are intended to cure medical ailments. This key factor
is anticipated to increase the demand for CBD based pharmaceuticals.
North America dominated the market in
2018 and is expected to lead the market over the forecast period owing to the
legalization of cannabis and cannabis based products for medical as well as
recreational purposes. Moreover, the liberalism of government regulations and
increased adoption of cannabidiol for pharmaceutical, wellness, and personal
use are some of the major factors driving the growth of the CBD market in this
region.
Further
key findings from the report suggest:
• North America accounted for the
largest revenue share in 2018 owing to the legalization of CBD infused
products, and the presence of a significant number of players operating in this
region
• The marijuana-derived CBD segment
dominated the market in 2018, with a revenue of USD 3.9 billion owing to their
high efficiency compared to hemp-derived CBD
• The B2C segment in CBD market is
anticipated to be the fastest-growing segment over the forecast period. This is
owing to high consumption of CBD based products in countries where cannabis is
legal.
• In 2018, the medical segment accounted
for the largest revenue share in the end-use market owing to the rising use of
CBD based products for numerous medical conditions
• Some of the major players operating in
cannabidiol market are ENDOCA; Isodiol International, Inc.; Medical Marijuana,
Inc.; Cannoid, LLC; Elixinol; Folium Biosciences; NuLeaf Naturals, LLC;
Pharmahemp d.o.o.
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