The CBD Oil And CBD Consumer Health Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s 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%. The growth in the historic period can be attributed to legalization and regulatory changes, changing societal attitudes, e-commerce growth, expansion of retail channels, 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 growth in the forecast period can be attributed to international market expansion, consumer education programs, growing emphasis on sustainability, healthcare professional recommendations, rise in educational initiatives. Major trends in the forecast period include microdosing, pet CBD products, CBD-infused beverages, health and fitness integration, cannabinoid combinations.
Increasing awareness regarding the health benefits of CBD-infused products is driving the CBD oils and CBD consumer health market. CBD-infused products include food and personal care products with CBD as an ingredient. People are becoming more aware of the health benefits of CBD-infused products, which results in more use of cannabidiol products. People use CBD oil to treat sleep problems, anxiety, pain, stress, and discomfort. For instance, in March 2022, according to reports published by the National Association of Convenience Stores., a US-based association for convenience and fuel retailing, the top cited benefit of CBD is pain relief, but mental health advantages are crucial to millennials, with 67% claiming CBD helps with anxiety, 46% saying it helps with depression, and 41% saying it improves PTSD symptoms. As a result, the increasing awareness regarding the health benefits of CBD-infused products is propelling the CBD oils and CBD consumer health market.
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The CBD oil and CBD consumer health market covered in this report is segmented –
1) By Product: CBD Oil, CBD Consumer Health
2) By Application: Anxiety/Stress, Sleep/Insomnia, Chronic Pain, Migraines, Skin Care, Seizures, Joint Pain And Inflammation, Neurological Conditions, Other Applications
3) By Distribution Channel: CBD Oil (B2B and B2C), CBD Consumer Health (Online, Retail Stores, and Retail Pharmacies)
Major companies operating in the CBD oils and CBD consumer health markets are focusing on strategic partnerships to provide reliable services to customers. A strategic partnership is an arrangement between two or more companies or organizations that help each other or work together to achieve their respective goals. For instance, in November 2022, Kanabo Group plc, a UK-based medical cannabis research and development company, partnered with British Cannabis, the UK’s largest independently owned producer, manufacturer, and distributor of legal cannabis, to supply CBD from British cannabis. Through the Treat It platform, physicians will be able to recommend CBD products from British Cannabis to their patients thanks to this agreement. Treat It is a secondary care organization that uses a secure digital healthcare platform to connect people with medical specialists. Kanabo is striving to enhance the quality of life for patients by providing more accessible and cost-effective alternative pain management options, such as British cannabis products.
The cbd oil and cbd consumer health market report table of contents includes:
1. Executive Summary
2. CBD Oil And CBD Consumer Health Market Characteristics
3. CBD Oil And CBD Consumer Health Market Trends And Strategies
4. CBD Oil And CBD Consumer Health Market – Macro Economic Scenario
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32. Global CBD Oil And CBD Consumer Health Market Competitive Benchmarking
33. Global CBD Oil And CBD Consumer Health Market Competitive Dashboard
34. Key Mergers And Acquisitions In The CBD Oil And CBD Consumer Health Market
35. CBD Oil And CBD Consumer Health Market Future Outlook and Potential Analysis
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