Cannabidiol Market Share

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. North America industry is set to account for largest revenue share of 35% by 2037, 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.