Cannabidiol Market to grow at a CAGR of 16.28% from 2022 to 2027|The legalization and regulatory changes with respect to cannabidiol will improve the Market Growth -Technavio
NEW YORK, Aug. 3, 2023 /PRNewswire/ -- Thecannabidiol marketis to grow by USD 23,023.51 million from 2022 to 2027, progressing at a CAGR of 16.28% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The legalization and regulatory changes with respect to cannabidiol are the key factors driving market growth. This growth is due to the government recognizing the therapeutic potential of cannabidiol (CBD) and establishing favorable regulations. For example, the US Farm Bill of 2018 legalized the cultivation of hemp, which is the primary source of CBD, allowing the marketing of various CBD products such as oils, capsules, edible foods, and cosmetics. nationwide. In addition, it also leads to the development of new markets and new job opportunities. Hence, the above-mentioned factors are expected to drive market growth during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!
The report on the cannabidiol market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as company analysis.
The cannabidiol market covers the following areas:
The growth in the E-commerce industry is a major trend in the market. The growing popularity of the Internet and smartphones has made online shopping more convenient and popular, especially for millennials. For example, HempStreet, an Indian e-commerce site, introduced about 30 new cannabis products, including cannabidiol oil and hemp protein powder. The online mode also benefits cannabidiol marketplace sellers as they can reduce operating and overhead costs. Hence, the growing e-commerce industry is expected to drive market growth during the forecast period.
Significant Challenges
The high cost of CBD products is a significant challenge restricting market growth. Fluctuating prices can pose a challenge for those dependent on cannabis treatments. The high cost of CBD is mainly due to its new entrance into the market. In addition, the extraction and purification of CBD involves specialized machinery and is time-consuming, which contributes to the increase in the price of CBD oil. Hence, the high cost is expected to restrict market growth during the forecast period.
Cannabidiol Market 2023-2027: Market Segmentation
The market is segmented by source (marijuana and hemp), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
The cannabidiol market share growth by the marijuana segment will be significant during the forecast period. Government efforts to legalize medical marijuana could boost market growth in the region. The rising number of patients using marijuana products for medical reasons and the increasing research by companies in the field of marijuana are also contributing to market expansion. Hence, the above-mentioned factors are expected to drive segment growth during the forecast period.
North America is estimated to contribute 51% to the growth of the global market during the forecast period. The US and Canada are the largest markets in the region due to the government's legalization of medical marijuana and the presence of many companies. Additionally, companies in Canada are legally allowed to export cannabidiol products to the US. Patients who are prescribed medical marijuana will receive a medical marijuana card, which is the same as their identity card. Hence, these factors are expected to drive market growth in the region during the forecast period.
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
Companies Mentioned
Cannoid LLC
Canopy Growth Corp.
Charlottes Web Holdings Inc.
Cronos Group Inc.
Elixinol
Endoca BV
Folium Biosciences
Isodiol International Inc.
Medical Marijuana Inc.
Medterra CBD
NuLeaf Naturals LLC
PharmaHemp d.o.o.
Tikun Olam
Tilray Brands Inc.
VIVO Cannabis Inc.
Aurora Cannabis Inc.
Cannabis Science Inc.
Company Offering
Cannoid LLC - The company offers cannabidiol solutions such as Base Softgels, Immunity Softgels, and Sleep Softgels.
Charlottes Web Holdings Inc. - The company offers cannabidiol solutions such as Charlotte's Web CBD oil.
Elixinol - The company offers cannabidiol solutions such as Everyday Daily Balance, Extra Strength, and Everyday Rapid Reset.
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Related Reports: The medical marijuana market is projected to increase by USD 21,248.51 million and the market size is estimated to grow at a CAGR of 21.86% between 2022 and 2027. Furthermore, this report extensively covers market segmentation by type (oil and tinctures flower), product (chronic pain, nausea, and others), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The increasing number of product launches is a key factor driving market growth during the forecast period.
The legal cannabis market is projected to increase by USD 54,572.33 million and the market size is estimated to grow at a CAGR of 21.6% between 2022 and 2027. Furthermore, this report extensively covers market segmentation by product (medical cannabis, recreational cannabis, derivative type (CBD THC, balanced THC, and CBD), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The diversification of cannabis-infused edible products is a major trend.
Cannabidiol Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 16.28%
Market growth 2023-2027
USD 23,023.51 million
Market structure
Fragmented
YoY growth 2022-2023(%)
15.72
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 51%
Key countries
US, Canada, China, Germany, and the UK
Competitive landscape
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled
Cannoid LLC, Canopy Growth Corp., Charlottes Web Holdings Inc., Cronos Group Inc., Elixinol, Endoca BV, Folium Biosciences, Isodiol International Inc., Medical Marijuana Inc., Medterra CBD, NuLeaf Naturals LLC, PharmaHemp d.o.o., Tikun Olam, Tilray Brands Inc., VIVO Cannabis Inc., Aurora Cannabis Inc., and Cannabis Science Inc.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
1.1 Market Overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Source
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Distribution Channel
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of companies included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global cannabidiol market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on global cannabidiol market 2017 - 2021 ($ million)
Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers ? Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers ? Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants ? Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes ? Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry ? Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Source
6.1 Market segments
Exhibit 30: Chart on Source - Market share 2022-2027 (%)
Exhibit 31: Data Table on Source - Market share 2022-2027 (%)
6.2 Comparison by Source
Exhibit 32: Chart on Comparison by Source
Exhibit 33: Data Table on Comparison by Source
6.3 Marijuana - Market size and forecast 2022-2027
Exhibit 34: Chart on Marijuana - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Marijuana - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Marijuana - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Marijuana - Year-over-year growth 2022-2027 (%)
6.4 Hemp - Market size and forecast 2022-2027
Exhibit 38: Chart on Hemp - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Hemp - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Hemp - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Hemp - Year-over-year growth 2022-2027 (%)
6.5 Market opportunity by Source
Exhibit 42: Market opportunity by Source ($ million)
Exhibit 43: Data Table on Market opportunity by Source ($ million)
7 Market Segmentation by Distribution Channel
7.1 Market segments
Exhibit 44: Chart on Distribution Channel - Market share 2022-2027 (%)
Exhibit 45: Data Table on Distribution Channel - Market share 2022-2027 (%)
7.2 Comparison by Distribution Channel
Exhibit 46: Chart on Comparison by Distribution Channel
Exhibit 47: Data Table on Comparison by Distribution Channel
7.3 Offline - Market size and forecast 2022-2027
Exhibit 48: Chart on Offline - Market size and forecast 2022-2027 ($ million)
Exhibit 49: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
Exhibit 50: Chart on Offline - Year-over-year growth 2022-2027 (%)
Exhibit 51: Data Table on Offline - Year-over-year growth 2022-2027 (%)
7.4 Online - Market size and forecast 2022-2027
Exhibit 52: Chart on Online - Market size and forecast 2022-2027 ($ million)
Exhibit 53: Data Table on Online - Market size and forecast 2022-2027 ($ million)
Exhibit 54: Chart on Online - Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on Online - Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Distribution Channel
Exhibit 56: Market opportunity by Distribution Channel ($ million)
Exhibit 57: Data Table on Market opportunity by Distribution Channel ($ million)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 59: Chart on Market share by geography 2022-2027 (%)
Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 61: Chart on Geographic comparison
Exhibit 62: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2022-2027
Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)
9.4 Europe - Market size and forecast 2022-2027
Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)
9.5 APAC - Market size and forecast 2022-2027
Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)
9.6 South America - Market size and forecast 2022-2027
Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)
9.7 Middle East and Africa - Market size and forecast 2022-2027
Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
9.8 US - Market size and forecast 2022-2027
Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)
9.9 Canada - Market size and forecast 2022-2027
Exhibit 87: Chart on Canada - Market size and forecast 2022-2027 ($ million)
Exhibit 88: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
Exhibit 89: Chart on Canada - Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on Canada - Year-over-year growth 2022-2027 (%)
9.10 China - Market size and forecast 2022-2027
Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)
9.11 Germany - Market size and forecast 2022-2027
Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)
9.12 UK - Market size and forecast 2022-2027
Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 103: Market opportunity by geography ($ million)
Exhibit 104: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 105: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends
11 Company Landscape
11.1 Overview
11.2 Company landscape
Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 107: Overview on factors of disruption
11.4 Industry risks
Exhibit 108: Impact of key risks on business
12 Company Analysis
12.1 Companies covered
Exhibit 109: Companiescovered
12.2 Market positioning of companies
Exhibit 110: Matrix on company position and classification
12.3 Aurora Cannabis Inc.
Exhibit 111: Aurora Cannabis Inc. - Overview
Exhibit 112: Aurora Cannabis Inc. - Product / Service
Exhibit 113: Aurora Cannabis Inc. - Key offerings
12.4 Cannabis Science Inc.
Exhibit 114: Cannabis Science Inc. - Overview
Exhibit 115: Cannabis Science Inc. - Product / Service
Exhibit 116: Cannabis Science Inc. - Key offerings
12.5 Cannoid LLC
Exhibit 117: Cannoid LLC - Overview
Exhibit 118: Cannoid LLC - Product / Service
Exhibit 119: Cannoid LLC - Key offerings
12.6 Canopy Growth Corp.
Exhibit 120: Canopy Growth Corp. - Overview
Exhibit 121: Canopy Growth Corp. - Business segments
Exhibit 122: Canopy Growth Corp. - Key news
Exhibit 123: Canopy Growth Corp. - Key offerings
Exhibit 124: Canopy Growth Corp. - Segment focus
12.7 Charlottes Web Holdings Inc.
Exhibit 125: Charlottes Web Holdings Inc. - Overview
Exhibit 126: Charlottes Web Holdings Inc. - Product / Service
Exhibit 127: Charlottes Web Holdings Inc. - Key news
Exhibit 128: Charlottes Web Holdings Inc. - Key offerings
12.8 Elixinol
Exhibit 129: Elixinol - Overview
Exhibit 130: Elixinol - Product / Service
Exhibit 131: Elixinol - Key offerings
12.9 Endoca BV
Exhibit 132: Endoca BV - Overview
Exhibit 133: Endoca BV - Product / Service
Exhibit 134: Endoca BV - Key offerings
12.10 Folium Biosciences
Exhibit 135: Folium Biosciences - Overview
Exhibit 136: Folium Biosciences - Product / Service
Exhibit 137: Folium Biosciences - Key offerings
12.11 Isodiol International Inc.
Exhibit 138: Isodiol International Inc. - Overview
Exhibit 139: Isodiol International Inc. - Product / Service
Exhibit 140: Isodiol International Inc. - Key offerings
12.12 Medical Marijuana Inc.
Exhibit 141: Medical Marijuana Inc. - Overview
Exhibit 142: Medical Marijuana Inc. - Product / Service
Exhibit 143: Medical Marijuana Inc. - Key offerings
12.13 Medterra CBD
Exhibit 144: Medterra CBD - Overview
Exhibit 145: Medterra CBD - Key offerings
12.14 NuLeaf Naturals LLC
Exhibit 146: NuLeaf Naturals LLC - Overview
Exhibit 147: NuLeaf Naturals LLC - Product / Service
Exhibit 148: NuLeaf Naturals LLC - Key offerings
12.15 PharmaHemp d.o.o.
Exhibit 149: PharmaHemp d.o.o. - Overview
Exhibit 150: PharmaHemp d.o.o. - Product / Service
Exhibit 151: PharmaHemp d.o.o. - Key offerings
12.16 Tilray Brands Inc.
Exhibit 152: Tilray Brands Inc. - Overview
Exhibit 153: Tilray Brands Inc. - Business segments
Exhibit 154: Tilray Brands Inc. - Key offerings
Exhibit 155: Tilray Brands Inc. - Segment focus
12.17 VIVO Cannabis Inc.
Exhibit 156: VIVO Cannabis Inc. - Overview
Exhibit 157: VIVO Cannabis Inc. - Business segments
Exhibit 158: VIVO Cannabis Inc. - Key offerings
Exhibit 159: VIVO Cannabis Inc. - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 160: Inclusions checklist
Exhibit 161: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 162: Currency conversion rates for US$
13.4 Research methodology
Exhibit 163: Research methodology
Exhibit 164: Validation techniques employed for market sizing
Exhibit 165: Information sources
13.5 List of abbreviations
Exhibit 166: List of abbreviations
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