The global cannabidiol market was valued at USD 7.0 Billion in 2024 and is expected to reach USD 24.4 Billion by 2033, growing at a CAGR of 14.84% during the forecast period of 2025-2033. The increasing legalization of CBD products, rising consumer awareness regarding therapeutic benefits, and innovations in product offerings are driving market growth, positioning North America as the dominant region. 

Study Assumption Years

• Base Year: 2024

• Historical Year/Period: 2019-2024

• Forecast Year/Period: 2025-2033

Cannabidiol Market Key Takeaways

• The global cannabidiol market size was valued at USD 7.0 Billion in 2024.

• The market is projected to grow at a CAGR of 14.84% from 2025 to 2033.

• North America dominated with a market share of over 40.4% in 2024.

• The increasing legalization of cannabis-derived compounds for medical and recreational use supports market expansion.

• Advancements in CBD-infused products across beverages, personal care, and dietary supplements are driving adoption.

• The U.S. Farm Bill facilitated local hemp production and distribution channels, propelling market growth.

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Market Growth Factors

The cannabidiol market is fueled by growing consumer awareness of CBD's therapeutic benefits, especially in health and wellness sectors. The rising prevalence of chronic illnesses such as insomnia, anxiety, and pain management due to sedentary lifestyles and poor diet has increased demand for CBD-based products. According to data, 43% of American adults reported increased anxiety levels in 2024 compared to 2023, further driving demand.

Legislative changes significantly contribute to market growth. The legalization of cannabis for medical and recreational purposes in countries such as the United States, Canada, and parts of Europe has strengthened the legal framework for CBD cultivation, production, and sales. The 2018 U.S. Farm Bill legalized hemp-based CBD products, increasing market appeal. In February 2024, Germany decriminalized marijuana, allowing possession and cultivation under regulated conditions, expanding consumer access.

Innovation in product development is a key catalyst. Companies continually diversify offerings to include oils, capsules, edibles, topicals, and cosmetics. Notable product launches include Daytrip Beverages' CBD and CBN-infused NightTrip gummies in 2023 and HempMeds Brasil's full-spectrum products with concentrations from 3,000 to 6,000 mg. These innovations address various consumer needs such as mood support, pain relief, and sleep enhancement, broadening market reach and consumer base.

Market Segmentation

By Product:

• CBD Oil

• CBD Isolates: Dominating the market, isolates offer 99% cannabidiol purity, free of THC and other cannabis compounds, suitable for consumers seeking pure CBD benefits without psychoactive effects. Their versatility in forms like powders and crystals facilitates use in edibles, cosmetics, and topicals.

• CBD Concentrates

• Others

By Source Type:

• Marijuana: Leading with approximately 58.1% market share in 2024, marijuana-based CBD has higher THC levels, enhancing the entourage effect and medicinal benefits. Robust dispensary networks and loyal consumer bases further drive demand.

• Hemp

By Grade:

• Food Grade

• Therapeutic Grade: Holding around 62.7% market share in 2024, this grade targets health and wellness applications aimed at conditions like anxiety, chronic pain, and sleep disorders. High purity and rigorous quality standards ensure safety and efficacy.

By Sales Type:

• B2B: Dominating with 55.7% market share in 2024, B2B sales involve transactions between manufacturers and wholesalers, retailers, and product makers. Demand is driven by supply chain needs and bulk purchasing for consumer goods like supplements and personal care items.

• B2C

Regional Insights

North America leads the cannabidiol market with a share exceeding 40.4% in 2024, attributed to advanced cannabis laws that encourage manufacturing, selling, and consumption of CBD products. The region benefits from strong infrastructure for cannabis research, increased consumer acceptance, and heavy investments in marketing and distribution, underpinning continuous market expansion.

Recent Developments & News

• November 2024: The Cannabist Company partnered with Veda Warrior to launch cannabis-infused cooking essentials in New Jersey, planning expansion to edibles and topicals.

• October 2024: Aurora Cannabis Inc. expanded its premium medical cannabis oil range in Australia through collaboration with MedReleaf Australia.

• January 2023: Medical Marijuana, Inc.’s subsidiary HempMeds Brasil introduced two new full-spectrum products in Brazil with concentrations between 3,000-6,000 mg.

• October 2022: High Tide Inc. launched NuLeaf Naturals’ multi-cannabinoid products in Ontario, Canada.

• June 2021: The Valens Company acquired Green Roads for approximately USD 60 Million to expand U.S. and global supply capabilities.

Key Players

• Aurora Cannabis Inc.

• Canopy Growth Corporation

• CV Sciences Inc.

• Elixinol Global Limited

• Endoca BV

• Folium Biosciences

• Green Roads of Florida LLC (The Valens Company Inc.)

• Isodiol International Inc.

• Koi CBD

• Medical Marijuana Inc.

• Medterra CBD

• NuLeaf Naturals LLC

• PharmaHemp d.o.o.

• Tilray Brands Inc.

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