The growth of the market is driven by the increased R&D investment in the healthcare industry and rising acceptance of cannabis globally.
The Cannabidiol (CBD) Market is forecast to grow from USD 1.04 Billion in 2018 to USD 16.32 Billion by 2026, at a CAGR of 27.7%, during the forecast period. The market is primarily driven by the increase in the usage of cannabidiol (CBD) in medical application, supplements, beverages and skin care.
As a wide-spectrum pharmaceutical therapy, the cannabidiol market place is likely to witness significant R&D investments in the pharmaceutical industry. For its potential in the treatment of a number of diseases, multiple scientific studies have shown promising results of cannabidiol. As a result, the cannabidiol market is marked by a significant cannabidiol therapy that receives FDA approval or moves forward in human clinical trials.
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Approval of EPIDIOLEX ® cannabidiol has become a landmark announcement as it is the very first FDA approval of cannabis sativa plant-derived drug and also validated some of cannabidiol’s therapeutic benefits. Significant economic, political and legislative shifts across the global cannabinoid marketplace are also expected to impact approval. It is also expected that the Drug Enforcement Administration (DEA) will reschedule and change the cannabidiol compound classification in the near future.
Key Companies in the market include:
CV Sciences (US), Isodiol International (Canada), Medical Marijuana (US), Aurora Cannabis (Canada), CBD American Shaman (US), Canopy Growth Corporation (Canada), IRIE CBD (US), The Supreme Cannabis Company (Canada), General Cannabis Corp. (US), Cannabis Sativa, Inc. (US), and Insys Therapeutics, Inc (US), among others.
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
Market segment analysis:
Routes of Administration Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Inhalation (Smoke or Vapor)
- Aerosol Spray
- Tincture Spray
Product Industry Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Food Grade
- Therapeutic Grade
Application Industry Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Neurogenerative Disorder
- Energy Drinks
- Protein Bars
End-Use Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Food & Beverage
Source Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Regional analysis further covers a country-wise analysis to offer insights into key trends and demands in each major country that might affect the growth of the market in the region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key Features of the Global Cannabidiol Market Report:
- The Cannabidiol (CBD) Market is forecasted to grow from USD 1.04 Billion in 2018 to USD 16.32 Billion by 2026, at a CAGR of 27.7%, during the forecast period. A rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.
- On the basis of product, the market is segmented into food grade and therapeutic grade. The market for therapeutics is expected to hold the largest market share throughout the forecast period. It is expected to reach USD 9.30 Billion in 2026, at a CAGR of 27.4% during the forecast period. Due to its health benefits that help in the treatment of neuropsychiatric disorders, the therapeutic grade dominates the segment. CBD also has the potential to treat other chronic disorders that are also expected to boost the demand for the product.
- On the basis of application, the market is segmented into fibromyalgia, neurogenerative disorder, diabetes, energy drinks, protein bars and others. The market for fibromyalgia is expected to hold the largest market share. It is expected to reach USD 4.24 Billion in 2026, at a CAGR of 28.3% during the forecast period. Because of the increasing incidence of physiological disorder among people, especially young adults, fibromyalgia leads the segment. CBD oil works with the endocannabinoid system to alleviate the symptoms of different conditions. Because it reduces inflammation, it is an option for treating fibromyalgia that can allegedly alleviate pain. Symptoms of insomnia and anxiety have also been reported to decrease.
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