The CBD Nutraceuticals Global Market Report 2023, provides comprehensive information on the CBD nutraceuticals market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s CBD Nutraceuticals Global Market Report 2023, the market size is expected to grow from $6.15 billion in 2022 to $7.39 billion in 2023 at a compound annual growth rate (CAGR) of 20.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The CBD nutraceuticals market size is expected to reach $14.63 billion in 2027 at a CAGR of 18.6%.
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Product innovations are a key trend gaining popularity in the CBD nutraceuticals market. Major companies involved in the CBD nutraceuticals market are focused on innovating new products to strengthen and sustain their position in the market. For instance, in December 2021, Cibdol, a Netherlands-based CBD and wellness company, launched its exclusive CBD, or cannabidiol, Oil 2.0 range. It contains greater levels of essential compounds such as CBC (cannabichromene), CBG (cannabigerol), CBN (cannabinol), and CBDa (cannabidiolic acid), along with high-purity CBD. A few drops of the new revolutionary CBD oil formula combat the physical and mental challenges related to modern living by managing the conditions linked to appetite, mood, pain, and sleep. Its improved recipe significantly boosts the levels of the smaller compounds, resulting in a more potent sensation. These components are regarded to not only complement each other better but also to have diverse effects on different receptors and biological systems.
The CBD nutraceuticals market is segmented:
1) By Product: CBD Tinctures, Capsules and Soft Gels, CBD-Based Protein, CBD Gummies
2) By Distribution Channel: Retail Stores, Pharmacies, E-Commerce Portals, Other Distribution Channels
3) By Application: Wellness, Workout Supplements, Edibles And Fortified Foods
North America was the largest region in the CBD nutraceuticals market in 2022.
The table of contents in TBRC’s CBD nutraceuticals market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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