Cannabidiol (CBD) Nutraceuticals - A Global Market Overview

Discovered in 1940, Cannabidiol (CBD) is a phytocannabinoid and forms one among the 113 identified cannabinoids in cannabis plants along with tetrahydrocannabinol (THC), accounting for nearly 40% of the plant's extract. CBD is a constituent of marijuana, one of the most widely used drugs worldwide, which has now obtained legalization for medical or adult recreational use across several states in the US. In the area of medicine, the range of chemicals contained in CBD has shown effectiveness against several health issues and diseases, such as cancer, anxiety and depression which are growing steadily, by providing relief from pain and enhancing anti-inflammatory properties.

The global market for Cannabidiol (CBD) Nutraceuticals is anticipated to post a CAGR of 20% during the 2024-2030 analysis period and reach a projected US$29.1 billion by 2030 from an estimated US$9.7 billion in 2024.

Worldwide, the market for CBD Nutraceuticals is poised to record an above-average growth over the analysis period, the crucial reasons for which are Increase in demand for plant-based foods, growing awareness concerning benefits of CBD nutraceuticals, innovative products in the pipeline and CBD nutraceuticals in capsule & softgel forms undergoing further advancements.

CBD Nutraceuticals Regional Market Analysis

North America represents the primary global market for CBD Nutraceuticals, the reasons for which include introduction of the 2018 Farm Bill that legalized hemp cultivation and processing of hemp-derived products, demand from consumers after getting to know the benefits of CBD-based Nutraceuticals, major companies active in the region and a significant rise in geriatric population. Asia-Pacific, though, is anticipated to be the fastest growing global region for CBD Nutraceuticals, factors for which comprise entry of leading global players, an increase in lifestyle-associated diseases & other health disorders and greater knowledge pertaining to healthier eating routines.

CBD Nutraceuticals Market Analysis by Product Type

In terms of product, CBD Nutraceuticals are categorized into Isolates, Oils and Wax. Among these, CBD Oils account for the largest share, as they have great versatility in being used in a range of applications, such as capsules, tinctures and cosmetics. However, the global demand for CBD Isolates is likely to maintain the fastest growth, since these are considered to offer high purity, making them ideal as CBD formulations in products that need exact concentrations of CBD.

CBD Nutraceuticals Market Analysis by Product Form

The major forms in which CBD Nutraceuticals are available include Tinctures, Capsules & Softgels, Protein and Gummies, among others. A high demand has been evident for CBD Tinctures, since they widely utilized in treating insomnia, cancer cell growth, seizures, anxiety, depression and chronic pain, as well as hyperglycemia, muscle spasms, psychosis and bone degeneration.However, the demand for CBD Capsules & Softgels is expected to exhibit the fastest growth over the analysis period, since they are more convenient to consume and are also travel-friendly.

Cannabidiol (CBD) Nutraceuticals Market Report Scope

This global report on Cannabidiol (CBD) Nutraceuticals analyzes the market based on product, form and distribution channel. In addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.

Key Metrics

• Historical Period: 2021-2023
• Base Year: 2023
• Forecast Period: 2024-2030
• Units: Value market in US$
• Companies Mentioned: 40+

Cannabidiol (CBD) Nutraceuticals Market by Geographic Region

• North America (The United States, Canada and Mexico)
• Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
• South America (Argentina, Brazil and Rest of South America)
• Rest of World (Middle East & Africa)

Cannabidiol (CBD) Nutraceuticals Market by Product

• Isolates
• Oils
• Wax

Cannabidiol (CBD) Nutraceuticals Market by Form

• Capsules & Softgels
• Gummies
• Protein
• Tinctures
• Other Forms

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