Cannabidiol Market to be Worth $22.05 Billion by 2030: Million Insights

FELTON, Calif., Dec. 12, 2022 /PRNewswire/ -- The global cannabidiol market Valued at $5.18 billion in 2021 and is anticipated to expand at a CAGR of 16.8% from 2022 to 2030. Cannabidiol is the chemical compound extracted from the cannabis Sativa plant. The cannabidiol-extracted medications have properties that overcome anxiety, reduce pain, and minimize seizures, benefitting the healing treatments. Thus, the acceptance and demand for these products are increasing for health and wellness purposes.

Key Industry Insights & Findings from the report:

• Based on the source type, the marijuana segment led the cannabidiol (CBD) market accounting for over 50% of the total market share in 2021. The increasing adoption of refined CBD products is contributing to segment growth.
• Cannabidiol derived from hemp is anticipated to gain lucrative growth during the forecast period.
• Based on sales type, the B2B segment accounted for a market share of over 50% of the total market during the forecast period.
• The pharmaceuticals segment is expected to witness significant growth during the forecast period. Growing awareness regarding the medical advantages of cannabidiols is driving the segment's growth.
• North America led the market, accounting for over 85% of the total market share in 2021. The presence of major key players in the region is creating ample opportunities and a competitive edge for market expansion.
• Europe and Asia Pacific regions are estimated to gain significant profit during the forecast period from hemp production and cultivation.

Read 132 page full market research report for more Insights, "Cannabidiol Market Size, Share & Trends Analysis Report By Source Type, By Distribution Channel, By End-use, By Region And Segment Forecasts From 2022 To 2030", published by Million Insights.

Cannabidiol Market Growth & Trends

Moreover, the therapeutic benefits of cannabidiol are growing awareness among the larger population. This has influenced the buyers to buy more products regardless of the product costs. Hence, marketers are getting profitable margins. Hence, nowadays many health and wellness retailers such as Rite Aid, CVS Health, and Walgreens Boots Alliance. are offering CBD-based products.

For instance, CVS Health is focusing on providing CBD topicals in its 800 stores. Walgreens Boots Alliance is also focusing on selling CBD-included topicals across its 1500 stores.

Cannabidiol Market Segmentation

Million Insights has segmented the global cannabidiol market based on source type, sales type, end-use, and region:

Cannabidiol Market - Source Type Outlook (Revenue, USD Million, 2017 - 2030)

• Hemp
• Marijuana

Cannabidiol Market - Sales Type Outlook (Revenue, USD Million, 2017 - 2030)

• B2B
• By End-use
• Pharmaceuticals
• Wellness
• Food & Beverages
• Personal Care & Cosmetics
• Nutraceuticals
• Others
• B2C
• By Sales Channel
• Hospital Pharmacies
• Online
• Retail Stores
• By End-use
• Medical
• Chronic Pain
• Mental Disorders
• Cancer
• Others
• Personal Use

Cannabidiol Market - End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Medical
• Chronic Pain
• Mental Disorders
• Cancer
• Others
• Personal Use
• Pharmaceuticals
• Wellness
• Food & Beverages
• Personal Care & Cosmetics
• Nutraceuticals
• Others

Cannabidiol Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Netherlands
• Switzerland
• Italy
• France
• Poland
• Czech Republic
• Croatia
• Asia Pacific
• China
• India
• South Korea
• Japan
• New Zealand
• Australia
• Latin America
• Argentina
• Brazil
• Mexico
• Colombia
• Uruguay
• Chile
• Middle East & Africa (MEA)
• Israel
• South Africa

List of Key Players of Cannabidiol Market

• ENDOCA
• Cannoid, LLC
• Medical Marijuana, Inc.
• Folium Biosciences
• Elixinol
• NuLeaf Naturals, LLC
• Isodiol International, Inc.
• Pharmahemp d.o.o.

Read the Latest Press Releases by Million Insights:

• Medical Foods Market - The global medical foods market size was worth USD 21.2 billion in 2021 and is predicted to be USD 33.5 billion by 2030 at a 5.2% CAGR. The demand for medical foods is anticipated to expand during the forecast period owing to the increase in communicable as well as non-communicable diseases. Additionally, the association of nutritional values and dietary management benefits with medical foods is likely to drive the market in the forecast period.
• Sports Nutrition Market - The global sports nutrition market size is projected to reach USD 82.3 billion by 2030 at a CAGR of 8.5%. The driving factors for the market include rising health awareness among fitness enthusiasts, especially among bodybuilders and sportspersons, aspiring for a healthier lifestyle. The current trend of gaining good health and awareness of well-being is influencing expansion of the market globally.
• Clinical Laboratory Service Market - The global clinical laboratory service market is projected to be worth USD 280.67 billion by 2030, advancing at 3.7% CAGR during the projection period. There have been frequent developments made in this space in recent years due to the presence of innovative technologies, which have acted as significant drivers of the industry.
• Ophthalmic Drugs Market - The global ophthalmic drugs market size was USD 33.5 billion in 2021 which is projected to expand at a CAGR of 7.7% and reach USD 65.6 billion by 2030. Factors driving the market growth include the introduction of ophthalmic drugs through research and development (R&D), the implementation of strategies for meeting the needs of ophthalmology, and an increase in blindness and visual impairment.
• Biotechnology & Pharmaceutical Services Outsourcing Market - The global biotechnology and pharmaceutical services outsourcing market size is projected to reach USD 108.0 billion by 2030, registering a CAGR of 5.5% over the forecasted period from 2022 to 2030. Factors such as low-cost services offered by CROs and CMOs, increasing drug development costs, and lack of internal capacities are expected to accelerate market growth significantly over the forthcoming years.

Explore more Market Research Reports by Million Insights, for industry specific reports that provide real-time market trends and forecasts, by condensing the integral elements from our industry reports into bite-sized paragraphs, charts, and tables.

Access More Press Releases

About Million Insights:

Million Insights, is a market research and consulting company, provides syndicated as well as customized research reports and consulting services. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: +1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected]
Web: https://www.millioninsights.com/  
Follow Us: LinkedIn | Twitter

SOURCE Million Insights