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

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).

Growing awareness regarding health benefits of cannabidiol and increasing legalization of cannabis around the world are forecasted to create new opportunities for cannabidiol companies going forward. Increasing consumer demand for natural and organic products for consumption and healing owing to rising health consciousness is also expected to create new opportunities for cannabidiol providers in the future. Growing consumption of CBD-infused beverages and food products is also expected to bolster the demand for cannabidiol over the coming years. Rising investments in research and development of novel cannabidiol products to harness their benefits will also open up new avenues of opportunities for cannabidiol providers in the future. Providing organic and sustainable cannabidiol products will also uplift the demand for cannabidiol in the long run. However, regulatory uncertainty, lack of scientific consensus, and social stigma around cannabis use are projected to slow down cannabidiol market growth potential in the future.