The global CBD consumer health market size was estimated to be USD 17.38 billion in 2023 and is expected to reach at USD 109.87 billion by 2034 with a CAGR of 18.25% during the forecast period 2024-2034. Surge in favourable government reforms regarding the legalization of cannabidiol (CBD) in different areas, growing awareness of the health benefits associated with CBD consumer products is leading to their increasing popularity and acceptance, rising demand for hemp-derived CBD products due to the legalization of hemp in numerous countries, increasing adoption of Tetrahydrocannabinol (THC) as it helps users obtain the health benefits of cannabis without intoxication, surge in the recognition of the various health benefits of cannabidiol in various applications, rise in marketing & advertising initiatives undertaken by market participants, increasing launch of CBD consumer health products are some of the key factors boosting the market growth.
Increasing launch of CBD consumer health products is predicted to boost the market growth during the forecast period. CBD is seeing growing usage in consumer health products, including oils, capsules, topicals, gummies, and it's also making its way into various food and beverages. The increasing significance of cannabis in the healthcare industry for numerous medicinal applications is driving the expansion of the CBD consumer health market. For instance, in March 2023, CV Sciences, Inc., a consumer wellness company based in the United States, known for offering hemp extracts and other scientifically validated natural ingredients, has unveiled +PlusCBD Daily Balance THC-Free Gummies and Softgels as additions to their product lineup. These products are designed to provide consumers with the wellness benefits of CBD.
By product, nutraceuticals was the highest revenue-grossing segment in the global CBD consumer health market in 2023 owing to the growing utilization of CBD-infused nutraceutical products in a range of applications, including weight management, sports nutrition, & overall health & wellness, rising consumer awareness about the health benefits of cannabidiol is leading to a shift in consumer preferences, with a growing demand for dietary supplements containing organic ingredients, surge in positive government reforms related to CBD, and increasing launch of new products. For instance, in January 2023, Medical Marijuana, Inc., the first publicly traded cannabis company in the United States, has introduced two new full-spectrum products in Brazil through its subsidiary, HempMeds Brasil. These products, available in 30 and 60 mL containers, offer 3,000 to 6,000mg of CBD at competitive prices, delivering significant cost savings for the fast-expanding Brazilian market. The subsidiary's pricing strategy is designed to leverage the opportunities in this growing market. Additionally, medical OTC products is predicted to grow at fastest CAGR during the forecast period owing to the legalization of CBD products has led to an uptick in the sales of CBD products for sleep disorders, dermatological treatments, & over-the-counter analgesic products and rising demand for pain relievers containing CBD compounds.
By distribution channel, retail pharmacies was the highest revenue-grossing segment in the global CBD consumer health market in 2023 owing to the rising consumption of over-the-counter (OTC) medications & products containing cannabidiol which are now accessible through retail pharmacies due to the legalization of CBD products in various regions and growing introduction of fresh product offerings. For instance, in October 2022, High Tide, a prominent retail company specializing in cannabis products, has officially introduced NuLeaf Naturals Multicannabinoid products in Ontario. NuLeaf Naturals' CBD oil and plant-based gels are now available for purchase in the Ontario market. Additionally, online stores is predicted to grow at fastest CAGR during the forecast period owing to the convenience of accessing products through online platforms, numerous companies have launched their online platforms for the sale of CBD-based products, and rising partnerships & collaborations within market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the increased density of CBD companies and more lenient regulations governing the use of these products, surge in consumption, growing awareness of their health advantages, rising popularity of CBD-based food and health products, and increasing launch of new products. For instance, in March 2022, NextEvo Naturals, a high-quality supplement brand with a focus on transforming the delivery of nutritional compounds, has revealed the release of its delicious Premium Pure Cannabidiol (CBD) Gummies enriched with hemp extract. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness & acceptance of the health benefits associated with CBD, particularly in the treatment of chronic pain, anxiety, insomnia, epilepsy, & various skin conditions, increasing adoption of cannabidiol oil, and growing initiatives by leading market players. For instance, in February 2023, Aurora Cannabis Inc., a Canadian company known for its global presence in the cannabis industry, has partnered with MedReleaf Australia to introduce CraftPlant, a new medical cannabis brand tailored for patients in the Australian market.
Increasing launch of CBD consumer health products is predicted to boost the market growth during the forecast period. CBD is seeing growing usage in consumer health products, including oils, capsules, topicals, gummies, and it's also making its way into various food and beverages. The increasing significance of cannabis in the healthcare industry for numerous medicinal applications is driving the expansion of the CBD consumer health market. For instance, in March 2023, CV Sciences, Inc., a consumer wellness company based in the United States, known for offering hemp extracts and other scientifically validated natural ingredients, has unveiled +PlusCBD Daily Balance THC-Free Gummies and Softgels as additions to their product lineup. These products are designed to provide consumers with the wellness benefits of CBD.
By product, nutraceuticals was the highest revenue-grossing segment in the global CBD consumer health market in 2023 owing to the growing utilization of CBD-infused nutraceutical products in a range of applications, including weight management, sports nutrition, & overall health & wellness, rising consumer awareness about the health benefits of cannabidiol is leading to a shift in consumer preferences, with a growing demand for dietary supplements containing organic ingredients, surge in positive government reforms related to CBD, and increasing launch of new products. For instance, in January 2023, Medical Marijuana, Inc., the first publicly traded cannabis company in the United States, has introduced two new full-spectrum products in Brazil through its subsidiary, HempMeds Brasil. These products, available in 30 and 60 mL containers, offer 3,000 to 6,000mg of CBD at competitive prices, delivering significant cost savings for the fast-expanding Brazilian market. The subsidiary's pricing strategy is designed to leverage the opportunities in this growing market. Additionally, medical OTC products is predicted to grow at fastest CAGR during the forecast period owing to the legalization of CBD products has led to an uptick in the sales of CBD products for sleep disorders, dermatological treatments, & over-the-counter analgesic products and rising demand for pain relievers containing CBD compounds.
By distribution channel, retail pharmacies was the highest revenue-grossing segment in the global CBD consumer health market in 2023 owing to the rising consumption of over-the-counter (OTC) medications & products containing cannabidiol which are now accessible through retail pharmacies due to the legalization of CBD products in various regions and growing introduction of fresh product offerings. For instance, in October 2022, High Tide, a prominent retail company specializing in cannabis products, has officially introduced NuLeaf Naturals Multicannabinoid products in Ontario. NuLeaf Naturals' CBD oil and plant-based gels are now available for purchase in the Ontario market. Additionally, online stores is predicted to grow at fastest CAGR during the forecast period owing to the convenience of accessing products through online platforms, numerous companies have launched their online platforms for the sale of CBD-based products, and rising partnerships & collaborations within market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the increased density of CBD companies and more lenient regulations governing the use of these products, surge in consumption, growing awareness of their health advantages, rising popularity of CBD-based food and health products, and increasing launch of new products. For instance, in March 2022, NextEvo Naturals, a high-quality supplement brand with a focus on transforming the delivery of nutritional compounds, has revealed the release of its delicious Premium Pure Cannabidiol (CBD) Gummies enriched with hemp extract. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness & acceptance of the health benefits associated with CBD, particularly in the treatment of chronic pain, anxiety, insomnia, epilepsy, & various skin conditions, increasing adoption of cannabidiol oil, and growing initiatives by leading market players. For instance, in February 2023, Aurora Cannabis Inc., a Canadian company known for its global presence in the cannabis industry, has partnered with MedReleaf Australia to introduce CraftPlant, a new medical cannabis brand tailored for patients in the Australian market.
Segmentation: CBD Consumer Health Market Report 2023 - 2034
CBD Consumer Health Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Nutraceuticals
- CBD Sports Nutrition
- CBD Weight Management and Wellbeing
- CBD Vitamins and Dietary Supplements (VDS)
- Medical OTC Products
- CBD Sleeping Aids Products
- CBD Analgesic Products
- CBD Mental Health Products
- CBD Dermatology Products
- Other OTC Products
CBD Consumer Health Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Online Stores
- Retail Pharmacies
CBD Consumer Health Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. CBD Consumer Health Market: Product Estimates & Trend Analysis
8. CBD Consumer Health Market: Distribution Channel Estimates & Trend Analysis
9. Regional Market Analysis
10. North America CBD Consumer Health Market
11. Europe Global CBD Consumer Health Market
12. Asia Pacific Global CBD Consumer Health Market
13. Latin America Global CBD Consumer Health Market
14. MEA Global CBD Consumer Health Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- NuLeaf Naturals LLC
- Charlotte's Web
- Elixinol Global Limited
- Joy Organics
- ENDOCA
- Medical Marijuana Inc.
- CV Sciences Inc.
- Kazmira
- Isodiol International Inc.
- Lord Jones
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 17.38 Billion |
| Forecasted Market Value ( USD | $ 109.87 Billion |
| Compound Annual Growth Rate | 18.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
