Cannabidiol Market Size
Market Outlook:
Base Year Value (2023)
USD 7.79 Billion
CAGR (2024-2032)
15.9%
Forecast Year Value (2032)
USD 29.4 Billion
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:The increasing legalization of cannabis for medical and recreational use across various regions is expected to drive the growth of the cannabidiol market. Growing awareness about the potential health benefits of cannabidiol, such as pain management, anxiety relief, and anti-inflammatory properties, is also contributing to market growth. Additionally, the expanding product portfolio of cannabidiol-based products, including oils, tinctures, capsules, and topicals, is attracting a wider consumer base.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Source Type, Sales Type, End-Use |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | ENDOCA, Cannoid, LLC, Medical Marijuana,, Folium Europe B.V., Canopy Growth, Elixinol, NuLeaf Naturals, LLC, Isodiol International,, PharmaHemp, The Cronos Group |
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Stringent regulations and policies surrounding the production, distribution, and marketing of cannabidiol products pose a significant challenge to market growth. Limited access to banking services and insurance for cannabidiol businesses further hinders their growth potential. Additionally, the lack of comprehensive research and clinical trials on the long-term effects and efficacy of cannabidiol products restricts consumer confidence and adoption.
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