In-Depth Analysis of the Global Cannabidiol Market: 2024-2030 Forecasts
MarkNtel Advisors has recently released an in-depth study on the Cannabidiol Market, covering historical data, current market trends, marketing strategies, technological advancements, upcoming technologies, emerging opportunities, and technical advancements in the relevant industry.
How big is the Cannabidiol Industry?
The Global Cannabidiol Market size was valued at around USD 22.7 billion in 2023 & is estimated to grow at a CAGR of around 19.21% during the forecast period, i.e., 2024-30.
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Who are the top players in the Cannabidiol Market?
- Aurora Cannabis Inc
- CV Sciences
- Endoca
- CBD American Shaman
- Bluebird Botanicals
- Isodiol International
- Medical Marijuana Inc
- Elixinol
- Hemp Inc
- Canopy Growth Corporation
- Others
Global Cannabidiol Market Segmentation:
By Application
- Medicinal Use
- Beauty & Personal Care
- Pets
- Recreational
By Product Type
- Edibles
- Flower
- Oil & Tinctures
- Pills & Capsules
- Topicals
- Others (Vape, Spray, etc.)
By Distribution Channel
- Regulated Dispensary
- Stand-Alone Retailers
- Department/Super Stores
- Online Portals
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Regional/ Countries Insight:
- North America
- South America
- Europe
- Asia Pacific
- Rest of the World
What are the primary market drivers influencing the growth of Cannabidiol Market?
Global Cannabidiol (CBD) Market Driver:
Increasing Consumer Preference for Natural & Plant-Based Products – The need for natural and plant-based goods is growing, which is one of the main factors propelling the Global CBD Market. Growing health and wellness consciousness has led to a noticeable shift in customer preferences toward products that are thought to be natural, organic, and minimally processed. Since CBD is regarded as a natural botanical extract, it fits in nicely with this trend.
Consumer interest in CBD has also increased as a result of the legalization and de-stigmatization of cannabis and products derived from hemp. Customers are more open to investigating CBD products for a range of health and wellness requirements as regulatory obstacles have loosened in many areas. Therefore, this tendency is anticipated to continue to be a major driver of market growth in the coming years as regulatory environments change and knowledge of CBD's potential advantages increases.
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Gain a Competitive Edge with Market Research Report
- The Global Cannabidiol Market Report by MarkNtel Advisors offers a detailed analysis of the market size, growth rate, competitive landscape, and key players, allowing businesses to gain a comprehensive understanding of market dynamics.
- Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
- The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
- Apart from market trends and projections, the Global Cannabidiol Market Report assists in assessing and mitigating risks associated with entering or operating in the market
- By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.
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