Global Cannabidiol Market

Cannabidiol Market Size, Share, Growth Analysis, By Source(Hemp, Marijuana), By Sales Type(Online Channel, Offline Channel), By End Use(Medical, Personal Use), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35I2339 | Region: Global | Published Date: September, 2024
Pages: 173 | Tables: 90 | Figures: 66

Cannabidiol Market Regional Insights

Growing awareness regarding the health benefits of cannabidiol and increasing legalization of cannabidiol are projected to help North America dominate the global market growth. Rising health consciousness, growing availability of cannabidiol products, and rising acceptance of the same are slated to bolster the sales of cannabidiol in the future. Canada and the United States will remain the most opportune markets for cannabidiol companies in this region. The presence of key cannabidiol providers will also aid the dominance of this region going forward.

Europe is predicted to emerge as the fastest-expanding market for cannabidiol companies in the future. Rising popularity of cannabidiol products and easily availability of the same are forecasted to contribute to the rapid expansion of this region. Growing popularity of health benefits of cannabidiol and rising incorporation of the same in personal care products are also projected to create new opportunities for cannabidiol companies in this region. The United Kingdom and Germany are slated to emerge as the most opportune markets in this region.

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Global Cannabidiol Market size was valued at USD 6.48 billion in 2022 and is poised to grow from USD 7.7 billion in 2023 to USD 24.9 billion by 2031, growing at a CAGR of 15.8% during the forecast period (2024-2031).

Cannabidiol providers should focus on targeting countries and regions where legalization of cannabis is increasing to maximize their business scope. Growing incorporation of cannabidiol in multiple consumer products will also create new opportunities for cannabidiol companies going forward. Raising awareness regarding benefits of cannabidiol use will also be highly crucial for cannabidiol companies to unlock the full market growth potential. 'ENDOCA ', 'Cannoid, LLC ', 'Folium Europe B.V. ', 'Canopy Growth Corporation ', 'Elixinol ', 'NuLeaf Naturals, LLC ', 'Isodiol International, Inc. ', 'PharmaHemp ', 'The Cronos Group ', 'APHRIA, INC. ', 'AURORA CANNABIS ', 'MARICANN, INC. (WAYLAND GROUP CORPORATION) ', 'TILRAY ', 'GW PHARMACEUTICALS, PLC ', 'ABCANN MEDICINALS, INC. ', 'ORGANIGRAM HOLDING, INC. ', 'Hemptown USA ', 'Charlotte's Web Holdings ', 'CV Sciences ', 'Medterra CBD'

Growing Legalization of Cannabis

Sustainability and Organic Trends: Cannabidiol companies can focus on making their products 100% sustainable to ride the sustainability wave and boost sales. Market players can also focus on sourcing organic raw materials to make their cannabidiol products organic as the popularity of organic products rise around the world.

Growing awareness regarding the health benefits of cannabidiol and increasing legalization of cannabidiol are projected to help North America dominate the global market growth. Rising health consciousness, growing availability of cannabidiol products, and rising acceptance of the same are slated to bolster the sales of cannabidiol in the future. Canada and the United States will remain the most opportune markets for cannabidiol companies in this region. The presence of key cannabidiol providers will also aid the dominance of this region going forward.

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Global Cannabidiol Market

Report ID: SQMIG35I2339

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