Cannabidiol Market Size

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.