CBD Oil and CBD Consumer Health Global Market Report 2024

The cbd oil and cbd consumer health market size has grown exponentially in recent years. It will grow from $49.5 billion in 2023 to $62.4 billion in 2024 at a compound annual growth rate (CAGR) of 26.1%. Historical growth was propelled by the effects of legalization and regulatory changes, shifts in societal attitudes towards the industry, the growth of e-commerce platforms, the expansion of retail channels, and the impact of celebrity endorsements.

The cbd oil and cbd consumer health market size is expected to see exponential growth in the next few years. It will grow to $160.45 billion in 2028 at a compound annual growth rate (CAGR) of 26.6%. The anticipated growth in the upcoming period can be attributed to expanding into international markets, initiatives focused on consumer education, a heightened emphasis on sustainability practices, recommendations from healthcare professionals, and the increase in educational initiatives within the industry. Major trends expected in this forecast period encompass microdosing approaches, the development of CBD products for pets, the introduction of CBD-infused beverages, integrating CBD into health and fitness routines, and exploring combinations of cannabinoids for various effects.

The surge in awareness regarding the health advantages associated with CBD-infused products is a driving force behind the growth of the CBD oils and CBD consumer health market. Products incorporating CBD as an ingredient include various food items and personal care products. The increasing recognition of the positive health effects of CBD-infused products is leading to a heightened usage of cannabidiol products. Individuals are turning to CBD oil to address issues such as sleep disturbances, anxiety, pain, stress, and discomfort. For instance, as of March 2022, reports from the National Association of Convenience Stores, a U.S.-based association for convenience and fuel retailing, revealed that the primary cited benefit of CBD is pain relief. However, millennials place significant importance on mental health benefits, with 67% stating that CBD helps with anxiety, 46% indicating its efficacy in alleviating depression, and 41% reporting improvements in PTSD symptoms. Consequently, the increased awareness surrounding the health benefits of CBD-infused products is propelling the CBD oils and CBD consumer health market.

The rise in demand for cannabidiol (CBD) within pharmaceutical formulations is set to drive the expansion of both the CBD oils sector and the broader CBD consumer health market. Pharmaceutical formulation involves blending various chemical substances, including the active drug, to create final medicinal products. The inclusion of CBD oil in these formulations ensures precise and consistent delivery of CBD, a critical factor for achieving therapeutic effectiveness. For instance, a study in April 2022 published by BMC Public Health, a UK-based peer-reviewed open-access scientific journal, highlighted that 42.1% of users regularly consumed CBD-infused products, predominantly orally through oils or tinctures, at least once a week in 2021. Moreover, these products were largely purchased online. This growing demand for cannabidiol within pharmaceutical formulations serves as a significant driver behind the expansion of both the CBD oils market and the wider CBD consumer health sector.

Prominent players in the CBD oils and consumer health markets are directing their efforts toward the development of innovative products, notably premium pure cannabidiol (CBD) gummies, to maintain their market positions. These gummies are edible treats infused with high-quality CBD oil, a compound derived from the cannabis plant. For example, in May 2022, NextEvo Naturals, a reputable US-based premium supplement brand, introduced their NextEvo premium pure cannabidiol (CBD) gummies. These gummies feature hemp extract and contain 10 mg of their SmartSorb CBD, boasting vegan, non-GMO, and THC-free attributes. They stand out for their SmartSorb delivery technology, enabling rapid and enhanced absorption by transforming oil-soluble CBD into a water-soluble-such as emulsion. This innovation aims to provide consumers with a more efficient and effective means of experiencing the benefits of CBD.

Key players in the CBD oils and consumer health markets are strategically pursuing partnerships to deliver dependable services to their customers. These strategic partnerships involve collaborative arrangements between two or more companies or organizations, aimed at mutual benefit and the attainment of shared objectives. For instance, in November 2022, Kanabo Group PLC, a UK-based company focused on medical cannabis research and development, entered into a partnership with British Cannabis, the largest independent producer, manufacturer, and distributor of legal cannabis in the UK. This collaboration aims to supply CBD sourced from British Cannabis. Through the Treat It platform, physicians gain the ability to recommend CBD products from British Cannabis to their patients, facilitated by this agreement. Treat It serves as a secondary care organization leveraging a secure digital healthcare platform to connect individuals with medical specialists. Kanabo's objective is to enrich patients' quality of life by offering more accessible and cost-effective alternative pain management solutions, such as the products provided by British Cannabis. This strategic partnership enables both entities to leverage their strengths and expertise to better serve patients seeking CBD-based treatments.

In February 2022, Flora Growth Corp., a Canadian cannabis products manufacturer, completed the acquisition of JustCBD for an undisclosed sum. This acquisition is poised to bolster Flora's presence within the U.S. wellness market and pave the way for global expansion opportunities across Flora's diverse product lines. JustCBD, a US-based company, specializes in manufacturing CBD-infused products.

Major companies operating in the cbd oil and cbd consumer health market report are Tilray Inc., Canopy Growth Corporation, Extract Labs, Aurora Cannabis Inc., Charlotte's Web Holdings Inc., Medical Marijuana Inc., PlusCBD Oil by CV Sciences, Green Roads, CBD American Shaman, Medterra CBD, Endoca BV, Bluebird Botanicals, CVSciences Inc., NuLeaf Naturals LLC, Lazarus Naturals, Isodiol International Inc., Lord Jones, HempMeds, JOY Organics, HempFusion Wellness Inc., Diamond CBD, Mary's Nutritionals, Elixinol LLC, HempLucid, Veritas Farms, Cibdol B.V., Ananda Hemp, Hemp Bombs, Highland Pharms, PharmaHemp.

North America was the largest region in the CBD oil and CBD consumer health market share in 2023. The regions covered in the cbd oil and cbd consumer health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cbd oil and cbd consumer health market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories in the CBD market consist of CBD oil and CBD consumer health products. CBD oil is utilized in treating various brain-related conditions such as anxiety, depression, epilepsy syndromes, PTSD, and substance addiction. Derived from the cannabis plant, cannabidiol (CBD) is extracted and blended with oils such as hemp seed or coconut oil to create CBD oil. These products find application in addressing issues related to anxiety, stress, sleep disorders, chronic pain, migraines, skincare, seizures, joint inflammation, neurological conditions, among others. CBD oil and consumer health products are distributed through various channels including B2B and B2C platforms for CBD oil, and online platforms, retail stores, and pharmacies for CBD consumer health products.

The CBD oil and CBD consumer health products market research report is one of a series of new reports that provides CBD oil and CBD consumer health products market statistics, including CBD oil and CBD consumer health products industry global market size, regional shares, competitors with a CBD oil and CBD consumer health products market share, detailed CBD oil and CBD consumer health products market segments, market trends and opportunities, and any further data you may need to thrive in the CBD oil and CBD consumer health products industry. This CBD oil and CBD consumer health products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The CBD oils and CBD consumer health market consists of sales of CBD isolate and synthetic CBD. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.