Cannabidiol Products Market Is Predicted to Reach USD 18,659.5 Million by 2023 at an Estimated CAGR of 6.43% Till
Zion Market Research has published a new report titled “Cannabidiol Products Market by Application (Food & Beverages, Pharmaceuticals, Cosmetics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global cannabidiol products market was valued at approximately USD 1,445 million in 2018 and is expected to generate around USD 15,040 million by 2025, at a CAGR of around 39.7% between 2019 and 2025.
Cannabidiol is a non-psychoactive compound in marijuana that possesses healing or therapeutic benefits. Marijuana-based cannabidiol products have a comparatively high content of tetrahydrocannabinol as compared to hemp-derived cannabidiol products. The latest trend that is gaining popularity in the market in various parts of the world is increasing the impact of online retailing of cannabidiol products.
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Cannabidiol has a list of health benefits, which is making companies from almost every consumable category, i.e., counting dietary supplements, beverages, pet products skin care, etc., vigorously explore the business in the cannabidiol products market in different parts of the world. This is the primary factor that is likely to drive the development of the cannabidiol products market on a global scale over the estimated timeframe. Due to the growing awareness about cannabidiol products and a large number of product applications in different industries, the market players are immensely attracted toward the cannabidiol products market. Moreover, the high-profit margin in the cannabidiol products is likely to further propel the growth of the cannabidiol products market globally.
The global cannabidiol products market is segmented based on application. By application, the global cannabidiol products market is segmented into food and beverages, pharmaceuticals, cosmetics, and others. The food and beverages segment is further divided into cannabidiol edibles and cannabidiol beverages. The pharmaceutical segment includes capsules, suppository, tinctures, topicals, transdermal patches, inhalers, and others. The pharmaceutical segment held the largest share of the global cannabidiol products market in 2018. Cannabis has been legalized for medicinal purpose in various countries since quite some time now. Various emerging countries are in process to legalize cannabis for medicinal purposes in the upcoming years. The food and beverages segment is expected to register a high growth rate in the global cannabidiol products market in the future, owing to the growing investment for developing cannabidiol edibles and beverages and increasing acceptance of cannabidiol in food products.
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The regional segment of the global cannabidiol products market includes North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. The North American region held a major share of the global cannabidiol products market in the year 2018 and is estimated to dominate the market globally over the forecast time period as well. The Asia Pacific and the Middle Eastern and African regions are expected to register a high rate of growth in the cannabidiol products market over the forecast period.
Some key players of the global cannabidiol products market are CV Sciences, Gaia Botanicals, ENDOCA, Isodiol International, Medical Marijuana, Aurora Cannabis (AC), CBD American Shaman, Canopy Growth Corporation, Elixinol, IRIE CBD, Beverages Trade Network, Coca–Cola, Lagunitas, The Supreme Cannabis Company, General Cannabis Corporation, Heineken, Cannabis Sativa, Inc., and Insys Therapeutics, Inc.
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This report segments the global cannabidiol products market into:
Global Cannabidiol Products Market: Application Analysis
- Food and Beverages
- Cannabidiol Edibles
- Cannabidiol Beverages
- Transdermal Patches
Global Cannabidiol Products Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific