CBD Market Worldwide Key Players Forecasts By Revenue, Growth Rate Till 2026

Market Highlights

The Global CBD Market was valued at USD 570 Million in 2018 and is expected to register a CAGR of 125.58% during the forecast period.

The global CBD market was valued at USD 3,088.51 million in 2018, and the market is estimated to grow at USD 2,207,162.54 Million by 2026 and is expected to register a CAGR of 125.58% during the forecast period from 2019 to 2026. In 2018, the Americas accounted for the largest market share of 78.14% with a market value of USD 2,413.34 million, followed by Europe with a market value of USD 358.19 million in 2018.

Based on form, the liquid segment accounted for the largest market share of 51.86% in 2018, with a market value of USD 1,601.62 million and is projected to register a CAGR of 127.24% during the forecast period. On the basis of routes of administration, the tincture segment accounted for the largest market share of 36.65% in 2018, with a market value of USD 1,132.07 million, and is projected to register a CAGR of 126.54% during the forecast period.

Segment Analysis

The global CBD market has been segmented on the basis of form, routes of administration, by product, application, end user, source, and by region.

On the basis of form, the global cannabidiol market is segmented into solid and liquid. The solid form of CBD is segmented into CBD crystals, CBD wax, capsule/softgel, hash, and others. The liquid form of CBD includes CBD oil, tincture, cream, e-liquid, and others. On the basis of product, the global cannabidiol market is segmented into food grade, therapeutic grade, and others. On the basis of application, the global cannabidiol market is segmented into neurogenerative disorder, fibromyalgia, diabetes, energy drinks, protein bars, and others. On the basis of end user, the global cannabidiol market is segmented into healthcare, food & beverage, and others. On the basis of source, the global cannabidiol market is segmented into inorganic and organic.

Market Players

Market Research Future (MRFR) recognizes Aphria Inc., Folium Biosciences, Freedom Leaf, Inc, Green Roads of Florida, LLC, CBD Health Solutions, LLC, ENDOCA, Isodiol International Inc, CV Sciences, Inc, Medical Marijuana, Inc., Canopy Growth Corporation, Elixinol Global Limited as the key players in the global CBD market.

Regional Analysis

The CBD market in the Americas has been segmented into North America and Latin America. The North American market is further divided into the US and Canada. Latin America market is classified into Brazil and the rest of Latin America. The Americas dominate the global CBD market, owing to the increasing consumption of cannabis-based products. The rising demand for cannabis has raised the market potential in the American region. A poll conducted by Gallup Inc., in 2016, found that American’s views on legalizing cannabis indicated that 60% of the population surveyed, believed the substance should be legalized. A recent poll conducted by Quinnipiac University also concluded that 54% of Americans favored the legalization of cannabis without additional constraints, while 81% of respondents favored legalization of cannabis for medicinal purposes. Cannabis was approved for medicinal use in 28 states of the US, the District of Columbia, Guam, and Puerto Rico as of January 2017. Online availability of cannabis-based products is also boosting the market growth as cannabis consumers prefer to buy online from licensed producers or manufacturers.

Key Findings of the Study

• The global CBD market is projected to reach over USD 22,07,162.54 Million by 2026 at a 58% CAGR during the review period of 2019 to 2026.
• The Americas accounted for the largest market share with Latin America being the major contributor to the growth of the market.
• The capsules segment by route of administration is projected to register the highest CAGR of 128.37% during the forecast period. CBD can also be taken in capsule form that allows taking CBD oil without experiencing the taste of CBD. In capsule form, the CBD looks like a soft gel, which is convenient to use with a specific quantity.

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CBD Market Opportunities, Drivers, Manufacturers, Analysis And Forecasts Till 2023

Market Analysis 

The global CBD market is anticipated to touch USD 22,07,162.54 million at a 125.58% CAGR between 2016-2026, states the latest Market Research Future (MRFR) report. The term CBD is popping up in almost every product right from hummus, face cream, to the morning latte. Cannabidiol or CBD, simply put, is a chemical compound extracted from cannabis plants. This is a naturally occurring substance that is used in products such as edibles and oils for imparting a feeling both of calm and relaxation. As opposed to THC (tetrahydrocannabinol), this is not psychoactive. 

CBD is extremely beneficial for different conditions, such as helping sexual dysfunction, improving cardiovascular health, reducing acne, moisturizing skin, soothing inflammation, calming anxiety, among others. Though CBD beverages and edibles have gained a lot of popularity, the most effective and the most widely used methods to take CBD include CBD oil tinctures, CBD capsules, vaping, and topical CBD such as balms and creams. With CBD turning increasingly mainstream, today, it is readily available in most health food stores and pharmacies. 

The CBD market is witnessing increasing demand due to several factors such as its increasing use during drug withdrawal and cancer cases, the different benefits that CBD products offer, such as contains anti-inflammatory properties, treat epilepsy and mental health disorders, and protection from Alzheimer’s. Additional factors propelling the growth of the CBD market include rapid technological advancements, rising investments in R&D activities, increasing usage in medical applications, increasing investments made by consumers on cannabis products, and the adoption of different cannabis products. 

On the flip side, strict rules related to the utilization of CBD is likely to impede the CBD market growth during the forecast period. 

Market Segmentation 

The global CBD market has been segmented in terms of product, application, form, source, route of administration, and end user. 

By form, the CBD market has been segmented into solid and liquid. The liquid segment is again segmented into tincture, e-liquid, CBD oil, cream, and others. The solid segment is again segmented into CBD wax, softgel/capsule, CBD crystals, hash, and others. 

By product, the CBD market is segmented into food-grade, therapeutic grade, and others. Among these, the therapeutic grade segment will dominate the market during the forecast period. 

By application, the CBD market is segmented into fibromyalgia, protein bars, diabetes, neurogenerative disorder, energy drinks, and others. Among these, fibromyalgia will have the maximum share in the market during the forecast period. 

By end user, the CBD market has been segmented into healthcare, food & beverage, and others. 

By source, the CBD market has been segmented into inorganic and organic. 

Regional Analysis

The global CBD market is geographically distributed across the following key regions- Europe, the Asia Pacific, Latin America, the Middle East and Africa, and North America. Among these, North America will have the lion’s share in the market during the forecast period. Various factors propelling the growth of the CBD market in the region include the presence of popular cannabis giants in the region, increasing awareness regarding the perks of taking cannabis, increasing legalization of CBD for medical and recreational purposes, easy accessibility of cannabis-based products on online platforms, and increasing consumption of products that are cannabis-based. 

In the Asia Pacific region, the CBD market will have healthy growth during the forecast period for the region’s economic conditions that are taking the CBD market to new heights. 

In Europe, the CBD market will grow at the fastest pace during the forecast period for the changing legislative framework. 

In the MEA, the CBD market will have stable growth during the forecast period. 

Key Players

The CBD market comprises a host of key players which includes Medical Marijuana, Inc., Elixinol Global Limited, ENDOCA, Canopy Growth Corporation, Green Roads of Florida, Folium Biosciences, CBD Health Solutions, LLC, Aphria Inc., Isodiol International Inc, Freedom Leaf, Inc, CV Sciences, Inc, and LLC. Key players have incorporated specific strategies to create a footprint in the market, such as product innovations, mergers, acquisitions, recent developments, joint ventures, collaborations, partnerships, and more. 

NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Global CBD Market Trend, Industry Overview, Competitive Analysis and Foreseen by 2023

CBD Market Overview

The Global Cannabidiol Market also known as CBD Market is expected to register a CAGR of 125.58% to reach USD 22,07,162.54 Million by 2026.

Cannabidiol (CBD) is a safe, non-addictive substance found in the cannabis plant. CBD is the second-most abundant cannabinoid found in cannabis after tetrahydrocannabinol (THC). CBD has significant therapeutic benefits such as anti-inflammatory, analgesic, anti-anxiety, and seizure-suppressant properties. According to a survey by the National Center for Biotechnology Information (NCBI) conducted between 2017 and 2018, about 62% of the population used CBD to treat a medical condition.

The growing research & development and financial support by various private and government organizations for cannabinoid research, rising occurrence of chronic diseases and related complications, and legalization of CBD in various regions are expected to have a positive impact on the global cannabidiol (CBD) market. However, adverse effects associated with cannabis and stringent government policies are anticipated to restrain the growth of the global CBD market.

CBD Market Dynamics

Growing research and development activities and financial support by various private and government organizations for cannabinoid research- There are many private and government organizations supporting the research and development for cannabinoids for medical purposes. Cannabis has numerous medicinal properties by which it can cure various diseases. According to the National Institute of Drug Abuse, May 2018 publication, in 2017, the National Institute of Health (NIH) supported 330 projects and spent USD 140 million on cannabinoid research and development. During this investment, USD 36 million was spent on 70 projects to examine the therapeutic properties of cannabis, and USD 15 million was spent on 26 projects centered on cannabinoid (CBD). Even in 2016, NIH spent USD 21 million studying therapeutic properties of cannabinoids. Singapore, known for the world's most stringent drug laws, is also funding research projects on medical treatments containing synthetically derived compounds of the cannabis plant. In 2017, the government-run National Research Foundation launched a program to research the therapeutic potential of cannabinoids.

CBD Market Regional Analysis

The Americas dominate the global CBD market, owing to the increasing consumption of cannabis-based products. According to the World Health Organization (WHO), the consumption of marijuana has an annual prevalence rate of nearly 2.5% of the global population, i.e., approximately 147 million individuals. It is also reported that approximately 22.2 million Americans of 12 years of age and older use cannabis and related products for various reasons.

Europe holds the second largest market share due to the rising awareness about clinical applications of cannabis. CBD is legal and can be openly marketed in certain European countries, for instance, the Ministry of Agriculture, Food and Forestry, and the Bulgarian Food Safety Agency issued the ‘free certificate of sale’ for the CBD products. Thus, such approvals and consideration by the regulatory agencies in Europe are driving the CBD market growth in the region. In spite of the approvals and considerations, there are positive restrictions associated with the use of the products. For instance, in 2013, medical cannabis was legalized in the Czech Republic, but it was limited to 180 grams of dry matter per month. In Europe, marijuana and cannabis laws differ from country to country. Previously, Germany was importing medical cannabis from other countries, but in 2017, Germany passed a law to expand access to medical cannabis and to allow domestic production. Increasing participation of various companies such as Medical Marijuana Inc., as a scope of development, announced the formation of Canipa Holdings in Romania, European Union. The effect of such initiatives by the companies is facilitating the growth of the CBD market in the European region.

The Asia-Pacific region is classified into CBD Market China, CBD Market India, CBD Market Japan, and Rest of Asia-Pacific. It holds the third largest position in the CBD market. Recently, China has legalized the cultivation of CBD (Hemp) and extraction for the derived product. The products are exported and not sold in China. Yunnan provincial government and Public Security Bureau approved the first industrial hemp plant extraction factory in China. It is the largest country in terms of area, population, businesses, and others. The entry of Chinese companies in the CBD market has created a great potential for expansion and growth. In Asia-Pacific, cannabis-based products are completely unacceptable. But due to the increasing cases of epilepsy, cannabis-based products are prescribed by some physicians. For instance, a recent Australian nationwide survey of 976 people with epilepsy indicated that 13% of the parents were using illicit cannabis extracts to manage their child’s seizures. Australia mainly focuses on the medical use of cannabis products. Australian regulatory agencies are operating on providing a guideline for the use of the CBD products. This is expected to help in the growth of the CBD market in Australia.

The Middle East and Africa is expected to witness a restricted growth due to stringent government policies, adverse effects associated with cannabis, and the illegal use of marijuana. In the Middle East, few of the Arab countries are imposing trick laws over the use and handling of cannabis-related products. Thus, the CBD market in these regions has limited scope for growth during the forecast period.

Segmentation

On the basis of form, the global cannabidiol market is segmented into solid and liquid.

In the solid form of CBD, the report covers CBD crystals, CBD wax, capsule/softgel, hash, and others. The liquid form of CBD includes CBD oil, tincture, cream, e-liquid, and others.

CBD crystals are a pure form of CBD isolates. CBD crystals are produced by heating CBD rich extract and then continuous cooling and separating it. CBD crystals are generally used to manufacture CBD infused edibles and creams. CBD wax is solidified or crystalized full spectrum form of CBD. CBD wax is a highly concentrated form of CBD and especially used for pain relief. CBD capsules are similar in comparison to capsules as they are surrounded by an outer shell, usually gelatin. CBD soft gelatin capsule is a translucent golden shade standard capsule that is filled with hemp oil and sometimes olive oil as filler.

CBD oil is one of the most popular and widely available forms of CBD. It is specifically used for medical purposes as it provides fast and effective results. There are a wide variety of flavors of full spectrum CBD oils available in the market. CBD tinctures are made from high strains of hemp, with 60-70% of alcohol. CBD tinctures are primarily used to relieve anxiety and ease the pain. CBD infused e-liquid are used as a fluid in electronic cigarettes and vaporizers.

CBD Market Key Players

The prominent players in the global CBD market are Aphria Inc., Folium Biosciences, Freedom Leaf, Inc, Green Roads of Florida, LLC, CBD Health Solutions, LLC, ENDOCA, Isodiol International Inc, CV Sciences, Inc, Medical Marijuana, Inc., Canopy Growth Corporation, Elixinol Global Limited.

The players operating in the global CBD market are focusing on product launches, along with expanding their global footprints by entering untapped markets.

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