Market Overview:

The global cannabidiol (CBD) market size was USD 7.59 billion in 2023 and is projected to grow from USD 11.16 billion in 2024 to USD 202.45 billion in 2032 at a CAGR of 43.66% during the forecast period 2024-2032. North America dominated the cannabidiol market with a market share of 47.04% in 2023. Moreover, the cannabidiol market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 78.74 billion by 2032, driven by rising liberalization in laws related to the use of cannabidiol products and increase consumer acceptance.

List of Companies Profiled in the Global Market:

• Medical Marijuana Inc. (California, U.S.)
• Cannoid, LLC (Colorado, U.S)
• Isodiol International Inc. (Vancouver, Canada)
• ENDOCA (Chicago, U.S.)
• Folium Biosciences (Texas, U.S.)
• Nuleaf Naturals LLC. (Colorado, U.S)
• Pharmahemp d.o.o (Slovenia, Europe)
• Elixinol Global (Sydney, Australia)
• CV Sciences (California, U.S.)
• Medterra CBD (California, U.S.)

Market Segmentation:

The market is segmented based on source into marijuana and hemp. In terms of application, it is divided into food & beverages, pharmaceuticals, pet care, cosmetics, and others. Among these, the pharmaceuticals segment is anticipated to dominate the global cannabidisssol (CBD) market during the forecast period, driven by ongoing efforts to develop innovative medical products across the global pharmaceutical sector. Regionally, the market is classified into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

What does the Report Provide?

The comprehensive global market report delivers a thorough examination of the critical factors propelling market growth and the challenges it faces. It offers a granular regional analysis, highlighting the unique contributions of different geographic areas to the market's overall expansion. Additionally, the report dissects the competitive landscape, focusing on key strategies such as product launches, strategic partnerships, and collaborations employed by industry leaders to drive growth.

By utilizing advanced analytical frameworks like PORTER’s Five Forces and PESTEL analysis, the report uncovers emerging trends and significant industry developments poised to shape the market from 2024 to 2032. Packed with current and detailed data, this report serves as an indispensable tool for businesses, empowering them to craft informed, data-driven strategies for success.

Source: https://www.fortunebusinessinsights.com/cannabidiol-cbd-market-103215

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