Cannabidiol (CBD) Market Size & Share, by Source (Hemp, Marijuana); Application (Medicinal, Research, Personal)- Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6084
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Cannabidiol (CBD) Market size was valued at USD 7.64 billion in 2023 and is set to reach USD 50.87 billion by the end of 2036, registering around 15.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of CBD is assessed at USD 8.6 billion.

The growth of the market can be attributed to the medicinal properties of CBD oil, backed by the tremendous ongoing research on benefits of cannabis sativa. CBD oil has various medical uses in curing depression and anxiety, inflammation, and relieving symptoms of cancer. According to a report by the World Health Organization, CBD is proven as an effective treatment for epilepsy, in several clinical trials. Owing to increasing adoption of cannabinoids, especially CBD, in therapeutic and medical science, the market is estimated to grow substantially over the forecast period. Moreover, CBD lacks any kind of psychoactive effects, something very common in other cannabis products, which is estimated to boost the market growth despite the stringent regulations on consumption of cannabis sativa in any other form. Additionally, Increasing R&D activities regarding the advantages and side effects of cannabis, is projected to boost the market growth. 


Cannabidiol Market Size
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Cannabidiol (CBD) Sector: Growth Drivers and Challenges

Growth Drivers

  • Therapeutic Properties of CBD Oil
  • Advantages of Cannabidiol in Treating Depression, Anxiety, Cancer, Diabetes, and Other Diseases
  • Rising R&D Activities About Benefits of CBD Oil

Challenges

  • Ban on Use of Cannabis Products in Many Countries
  • Lack of Awareness among People Regarding the Medical Advantages of CBD Oil

 

Cannabidiol (CBD) Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

15.7%

Base Year Market Size (2023)

USD 7.64 billion

Forecast Year Market Size (2036)

USD 50.87 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
 
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Cannabidiol (CBD) Segmentation

The market is segmented by source into hemp, and marijuana, out of which, the hemp segment is anticipated to hold a significant share in the market during the forecast period owing to its higher plantation across the globe. On the basis of application, the market is segmented into medicinal, research, and personal, out of which the research segment is projected to witness highest CAGR over the forecast period on the back of growing research on effects of cannabis on human nervous system and its other uses. Use of CBD oil as a medicine has not gained popularity among the masses yet, but this segment is expected to gain prominence in the upcoming years.

Our in-depth analysis of the global market includes the following segments:

           By Source

  • Hemp
  • Marijuana

By Application

  • Medicinal
  • Research
  • Personal
 

 


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Cannabidiol (CBD) Industry - Regional Synopsis

Regionally, the global cannabidiol (CBD) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America industry is likely to account for largest revenue share by 2036, led by health-aware population, rising acceptance of cannabis-based products supported by lenient laws, and growing research on the effects of cannabinoids. The market in the Asia Pacific is projected to grow significantly over the forecast period owing to the growing cultivation of hemp and marijuana in the countries, such as, China, backed by the favorable climatic conditions in the region. China is one of the largest producers of hemp and exports more than 85% of the produce to the U.S., Germany, and other countries. However, illegal trade of cannabis sativa in the region, is expected to hinder the regional market growth. The market in Latin America is estimated to witness moderate growth during the forecast period, owing to the increasing cultivation and trade of hemp and marijuana, backed by flexible government regulation in the underdeveloped nations.

 

Research Nester
Cannabidiol Market Share
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Companies Dominating the Cannabidiol (CBD) Landscape

    • Isodiol International, Inc
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Cannoid, LLC
    • PharmaHemp d.o.o.
    • NuLeaf Naturals, LLC
    • Folium Biosciences
    • Medical Marijuana, Inc.
    • CBD American Shaman, LLC
    • Aurora Cannabis Inc.
    • Canopy Growth Corporation
    • ENDOCA

In the News

  • Medical Marijuana, Inc., the world's first publicly traded cannabis company, has announced the launch of two new full-spectrum products in Brazil through its subsidiary HempMeds® Brasil. The company also launched the world's first cannabis-derived nutraceutical products, brands, and supply chains. The two goods give the subsidiary more market potential because they are the most reasonably priced options in the area.
  • Folium Biosciences' extensive line of specialized products tailored to each nation is Broad Spectrum Stalk, a 0.0% THC CBD oil that is only for the stalks and seeds. The company extracts premium CBD oil from seed and stalk that complies with global regulations. Officials in South Korea and Japan have already given the go-ahead for Broad Spectrum Stalk to be supplied to supplement manufacturers in their respective nations. In response to market demand, Folium has expanded its dedicated cannabis extraction and purification plant in Pueblo West, Colorado, to include a line for South Korea and Japan in addition to lines for the US and the EU.

Author Credits:  Radhika Pawar


  • Report ID: 6084
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of cannabidiol was over USD 7 billion.

The market size for cannabidiol is projected to cross USD 41 billion by the end of 2036 expanding at a CAGR of 16% during the forecast period i.e., between 2024-2036.

The major players in the market are Medical Marijuana Inc., Cannoid, LLC, Isodiol International Inc., ENDOCA, Folium Biosciences, Aurora Cannabis Inc., Elixinol Global, CV Sciences, Medterra CBD, PharmaHemp, and others.

The hemp segment is anticipated to garner a share of 57% during 2024-2036.

The North America cannabidiol sector is poised to hold 35% share by the end of 2036.
Cannabidiol Market Report Scope
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