CBD Oil & CBD Consumer Health Market Size, Share & Trends Analysis Report By Product, By Distribution Channel, By Region (North America, Europe, Asia Pacific, Latin America, MEA)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global CBD Oil & CBD Consumer Health market size was estimated at USD 25.9 billion in 2021 and is expected to surpass around USD 129.2 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 28.6% during the forecast period 2022 to 2030.

Growth Factors:

Increasing the adoption of cannabidiol (CBD) and infused products for various medical and wellness purposes is the key factor driving the growth of the market. In addition, favorable government regulations and increasing consumer awareness and demand for cannabidiol due to its health benefits are further increasing its adoption. Furthermore, CBD consumer health products are also gaining significant acceptance owing to their health benefits without any psychoactive effects. Increasing awareness regarding health benefits offered by cannabidiol-infused products has led to an increase in consumer pool willing to buy these products. Moreover, the increasing product options for consumers such as dietary supplements, analgesics, edibles, topicals, oils, and capsules are driving the market.

Growing demand for cannabidiol in pharmaceutical formulations owing to its healing properties is expected to boost the demand for the product in the pharmaceutical industry. Other factors contributing to the increase in demand for oil include rising consumer preference toward oil as a product category, the surge in demand for full-spectrum products, and many companies entering into bulk as well as finished product business. This segment is anticipated to register a lucrative growth in the forthcoming years owing to the increase in demand for cannabidiol from various end-user industries such as pharmaceuticals, food and beverage, and personal care and cosmetics, which is expected to trigger market growth.

Increasing consumer preference for various cannabidiol infused products such as capsules, cannabis oil, beverages, beauty and skincare products, gummies, and dog treats is further anticipated to drive the CBD oil and CBD consumer health market. Cannabidiol can enter the body in several ways such as vaping, ingesting, smoking, and through the skin. Growing adoption of cannabidiol to manufacture medical drugs and personal care products in states where cannabis is legal is positively impacting the market growth. The legalization of cannabis-based products has provided a remarkable opportunity for the end-user industries to expand. The growing number of research activities, increasing awareness regarding synthetic cannabidiol, and rising strategic investments by companies are expected to contribute to the overall growth during the forecast period.

Cannabidiol-based products are gaining acceptance and recognition in the health and wellness sector owing to the confirmation of the therapeutic properties of cannabidiol through various scientific studies. It is widely used for the treatment of various mental disorders, cancer, and arthritis. Treatment of anxiety and depression using pharmaceutical drugs may lead to several side effects such as drowsiness, insomnia, sexual dysfunction, and headache. Other medications such as benzodiazepines are addictive and may lead to substance abuse. However, cannabidiol is a natural approach for treating anxiety and depression, without creating any addiction.

Report Scope of the CBD Oil & CBD Consumer Health Market

Report Coverage

Details

Market Size

US$ 129.2 Billion by 2030

Growth Rate

CAGR of 28.6% from 2022 to 2030

Largest Market

North America

Fastest Growing Market

Asia Pacific

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

 Product, distribution channel and Region,

Companies Mentioned

 CV Sciences, Inc.; Medical Marijuana, Inc.; Elixinol; NuLeaf Naturals, LLC; CHARLOTTE’S WEB; Isodiol; Joy Organics; Kazmira LLC; IRIE CBD; Lord Jones; ENDOCA; Aurora Cannabis; Canopy Growth Corporation; Bluebird Botanicals; Global Cannabinoids; CBD American Shaman; BioVectra; Noramco, Inc.; CURE Pharmaceutical; GW Pharmaceutical; CBDepot; CIBDOL; THC Pharm GmbH

CBD Oil & CBD Consumer Health Market Trends

The growth in consumer awareness and various health benefits provided by cannabidiol (CBD) and the legalization of cannabidiol oil and infused goods are in the acceptance of CBD as a consumer health product, resulting in market growth. Additionally, the change in consumer attitudes and perception regarding hemp-derived cannabidiol-based products are expected to boost the revenue growth during the projection period.

The CBD oil and CBD consumer health market are expected to be driven by the rising consumer demand for cannabidiol-infused products such as cannabis oil, drinks, beauty and skincare items, capsules, gummies, and dog treats. Cannabidiol enters the body through a variety of routes, including eating, smoking, vaping, and skin contact. It is increasingly used for preparing medications and personal care items in jurisdictions where cannabis is legal, thereby further boosting industry growth.

The pharmaceutical sector is on constant expansion around the world acknowledges the value and benefits of cannabis and its by-products. CBD is among the most essential components of cannabis that the pharmaceutical industry has adopted to provide health safety assurance for a variety of diseases. Manufacturers are always attempting to raise consumer awareness and design informative packaging in order to clarify the consumer desires for the product. As a result, several attempts to strengthen marketing activities are anticipated to provide potential growth opportunities for the worldwide cannabidiol market to flourish.

Product Insights

Based on product type, CBD oil (full spectrum) dominated the market with a share of 74.5% in 2021. This high share is attributable to the increasing awareness regarding the health benefits of cannabidiol, favorable government reforms, and the growing use of bulk cannabidiol oil in various sectors. Furthermore, CBD isolate is expected to be the fastest-growing segment over the forecast period. This growth can be attributed to the increasing usage of isolates owing to their reliable forms in comparison to other cannabinoids coupled with a very high cannabidiol content and very low THC levels, which increase the use of the product as a raw material in various applications.

In 2021, the nutraceuticals segment accounted for the largest revenue share of 49.3% in the CBD consumer health market and is expected to exhibit significant growth during the forecast period. This high share is attributable to the increasing legalization of cannabidiol-based products and the growing demand for plant-based ingredients in food supplements across various regions. Moreover, the increase in online and retail sales of cannabidiol supplements is another key factor driving the demand for these products.

There is an increase in consumer preference for plant-based ingredients, especially in dietary supplements and sports nutrition. Growing awareness about cannabidiol due to its health and wellness benefits has increased its adoption for various purposes. For instance, according to a study conducted by the Gallup, around 14.0% of the Americans have used some or the other form of cannabidiol infused products in the year 2019. Out of this, 59.0% of adults use CBD-infused products for pain-related conditions, followed by 43.0% of users for mental health-related conditions. In addition, first-time cannabidiol users in Canada prefer CBD capsules (35%-40%) and edibles (25%-30%), as per research conducted by Vividata.

Distribution Channel Insights

Based on the distribution channel, the B2B segment accounted for the highest revenue share of 64.0% in the CBD oil market owing to the rise in the demand for cannabidiol products in various sectors such as pharmaceutical, food, and additives, health and wellness, and cosmetics sectors. The B2C segment is expected to witness the highest CAGR owing to the increasing use of bulk CBD oil and isolates in various application areas. The supply of these products has significantly increased over the years through various modes of delivery such as online, offline, and specialized mode owing to the legalization of medicinal cannabis in various regions. For instance, when cannabis was legalized for medical purposes, the distribution of cannabidiol products through pharmacies or medical dispensaries was the most prominent mode of supply.

While retail pharmacies segment dominated the global CBD consumer health market with a revenue share of 42.7% in 2021. This can be attributed to the rise in the availability of CBD-infused products as pharmacies are one of the trusted sources for consumers for obtaining medical cannabidiol products. On the other hand, the online store segment is anticipated to register the fastest growth during the forecast period. Increasing adoption of online shopping channels coupled with the rise in the number of manufacturers in the e-commerce space and are some of the key factors anticipated to drive the market for CBD oil and CBD consumer health in the future.

Regional Insights

North America dominated the CBD oil market with a revenue share of 68.5% in 2021. Increasing awareness about CBD oil, favorable regulations, growing consumer preference, and a rise in the number of manufacturers are the key factors fueling the market growth. The legalization of medicinal cannabis in the region, specifically in the U.S., is further attributing to the growth of the market for CBD oil and CBD consumer health. The different states in the country, such as Indiana, Alabama, and Georgia, have legalized the use of cannabis under specific conditions. Utah is one of the prominent states in the country for the distribution of cannabidiol-infused products owing to the availability of a large number of retail pharmacies.

Furthermore, growing popularity for CBD-based food and health products, the introduction of the Farm Bill 2019, legalizing hemp cultivation and manufacturing of hemp-derived products in the U.S., presence of a large pool of health-conscious people in the region, and presence of major manufacturers, are factors boosting the market growth. Furthermore, the ongoing COVID-19 pandemic has impacted the cannabis industry in North America. As per Orange County Register, on March 17, 2020, some dispensaries such as Bud and Bloom witnessed an overall increase in weekly sales by over 30.0%.

Moreover, due to the legalization of cannabis and cannabidiol related products in the region, the market for CBD consumer health products has gained impetus. For instance, a U.S.-based company, Elixinol, had a USD 2.4 million business in 2015 and reached almost USD 4.2 million in 2016. This indicates the profitability in the market. Furthermore, the supply chain management for many companies is less complicated due to tie-ups with local growers. They are responsible for providing high-quality cannabis in accordance with federal and state laws. Therefore, due to the diminished demand-supply gap and an increasing number of companies due to legalization, the market is expected to witness lucrative growth over the forecast period.

Recent Developments

  • In January 2022, Elixinol, a hemp-derived CBD brand with a long history in the market, announced the debut of two new revolutionary CBD sleep products. Sleep Rapid Rest Liposomes and Sleep Gummies from Elixinol are melatonin-free solutions for consumers suffering from insomnia
  • In September 2021, Charlotte's Web, Inc., the global provider of full-spectrum hemp extracts health products, added several new Charlotte's Web Gummies to its lineup. THC-Free, New Daily Wellness, and Immunity candies are now available online, and many of the Company's 14,000 local retailers across the United States are receiving them
  • In November 2021, High Tide Inc., a renowned retail cannabis corporation with mortar and brick and also worldwide e-commerce assets, announced the purchase of 80% shares in NuLeaf Naturals, LLC

Some of the prominent players in the CBD Oil & CBD Consumer Health Market include:

  • CVSciences, Inc.
  • Medical Marijuana, Inc.
  • CHARLOTTE’S WEB
  • ENDOCA
  • Isodiol
  • Elixinol
  • NuLeaf Naturals, LLC
  • JOY Organics
  • Kazmira
  • Lord Jones
  • Aurora Cannabis
  • Canopy Growth Corporation
  • Global Cannabinoids, Inc.
  • IrieCBD
  • CBD American Shaman.
  • BioVectrainc.
  • Bluebird Botanicals
  • Noramco
  • Cure Pharmaceutical.
  • GW Pharmaceuticals, PLC.
  • CBDepot
  • Cibdol
  • THC Pharm Gmbh 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global CBD Oil & CBD Consumer Health market

  • Product
    • CBD Oil
      • CBD Oil
      • CBD Isolate
      • Synthetic CBD
    • CBD Consumer Health
      • Medical OTC Products
        • CBD Analgesic Products
        • CBD Dermatology Products
        • CBD Mental Health Products
        • CBD Sleeping Aids Products
        • Other OTC Products
      • Nutraceuticals
        • CBD Vitamins and Dietary Supplements (VDS)
        • CBD Sports Nutrition
        • CBD Weight Management and Wellbeing
      • Food and Beverages
      • Pharmaceuticals
      • Personal Care & Cosmetic Products
        • CBD Infused Skin Care Products
        • CBD Infused Beauty Products
      • CBD Infused Hair Care Products
  • Distribution Channel
    • CBD Oil
      • B2B
        • Pharma Manufacturers
        • Consumer Goods Manufacturers
        • Nutraceutical Manufacturers
        • Others
      • B2C
    • CBD Consumer Health
      • Online
      • Retail Stores
      • Retail Pharmacies

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Points Covered in CBD Oil & CBD Consumer Health Market Study:

  • Growth of CBD Oil & CBD Consumer Health in 2022
  • Market Estimates and Forecasts (2017-2030)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for CBD Oil & CBD Consumer Health and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  CBD Oil & CBD Consumer Health Consumption Analysis
  •  CBD Oil & CBD Consumer Health Production Analysis
  •  CBD Oil & CBD Consumer Health and Management