Cannabidiol (CBD) is a non-psychoactive compound derived from cannabis plants, renowned for its therapeutic properties. Widely used for its potential health benefits, CBD interacts with the endocannabinoid system, influencing various bodily functions. Studies suggest it may alleviate anxiety, reduce inflammation, and ease chronic pain. CBD is available in various forms, including oils, edibles, and topical products, making it a versatile and popular choice in the realm of holistic wellness.
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Data Bridge Market Research analyses that the U.S. Cannabidiol (CBD) Market which was USD 1,825.51 million in 2021, is expected to USD 13,655.70 million by 2029, and is expected to undergo a CAGR of 28.6% during the forecast period from 2022-2029. CBD market growth is propelled by changing legal landscapes, with evolving state and federal regulations increasingly favoring CBD. This favorable environment facilitates market expansion and encourages investment in the industry.
Key Findings of the Study
E-commerce growth is expected to drive the market's growth rate
The U.S. CBD market experiences significant expansion due to the flourishing growth of e-commerce. Online accessibility and convenience play pivotal roles, allowing consumers to easily explore and purchase CBD products from various vendors. This virtual marketplace broadens the reach of CBD, reaching consumers in remote areas. Additionally, the ease of online transactions fosters a seamless shopping experience, contributing to increase sales and total market penetration for cannabidiol products.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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CBD Type (Hemp, Marijuana), Product Type (CBD Oil, CBD Concentrates, CBD Isolates, Others), CBD Category (Full-Spectrum, Broad Spectrum), Nature (Organic, Inorganic), Grade (Food, Therapeutic), Application (Food, Beverages, Pharmaceuticals, Topicals, Tincture, Dietary Supplements, Others)
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Market Players Covered
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Cresco Labs (U.S.), EcoGen Biosciences (U.S.), Canopy Growth Corporation (Canada), The Valens Company (Canada), Open Book Extracts (U.S.), Groff North America Hemplex (U.S.), Healthy Food Ingredients, LLC (U.S.), KND Labs (U.S.), Socati Corp. (U.S.), Swayer Labs (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The U.S. cannabidiol (CBD) market is categorized based on CBD type, product type, CBD category, grade, application, and nature.
- On the basis of CBD type, the U.S. cannabidiol (CBD) market is segmented into hemp and marijuana
- On the basis of product type, the U.S. cannabidiol (CBD) market is segmented into CBD oil, CBD isolates, CBD concentrates, and others
- On the basis of CBD category, the U.S. cannabidiol (CBD) market is segmented into full-spectrum and broad spectrum
- On the basis of grade, the U.S. cannabidiol (CBD) market is segmented into food and therapeutic
- On the basis of application, the U.S. cannabidiol (CBD) market is segmented into food, beverages, pharmaceuticals, topicals, tincture, dietary supplements, and others
- On the basis of nature, the U.S. cannabidiol (CBD) market is segmented into organic and inorganic
Major Players
Data Bridge Market Research recognizes the following companies as the major U.S. cannabidiol (CBD) market players in U.S. cannabidiol (CBD) market are The Valens Company (Canada), Open Book Extracts (U.S.), Groff North America Hemplex (U.S.), Healthy Food Ingredients, LLC (U.S.), KND Labs (U.S.), Socati Corp. (U.S.), Swayer Labs (U.S.)
Market Developments
- In 2022, Hemp Bombs launched its latest product, Delts-9 THC Gummies, featuring diverse flavors such as strawberry, watermelon, and grape. With THC strengths ranging from 10mg to 50mg per gummy, they offer relaxation, pain relief, and enhanced sleep. Available both online and in select retail outlets, these vegan and gluten-free gummies blend THC and CBD for a holistic wellness experience
- In 2022, Medical Marijuana, Inc. took a strategic step by launching HM Pharma, a pharmaceutical subsidiary in Brazil. This move aims to broaden accessibility to CBD products through pharmacies, addressing the growing demand for medical cannabis in the region. The establishment of HM Pharma underscores the company's commitment to expanding the reach of CBD-based solutions within the Brazil healthcare landscape
- In 2022, Puration, Inc., a prominent CBD product manufacturer, collaborated with PAO Group Inc. to launch a CBD nutraceutical line under PURA's Farmersville hemp brand. These health-focused products, set to debut in early 2023, feature premium CBD extracted from PURA's proprietary hemp farms. The line will offer diverse options, such as capsules, powders, and liquids, aiming to enhance consumers' health and well-being
- In 2022, Cresco Labs and Columbia Care Inc. finalized a definitive arrangement agreement for the acquisition of all Columbia Care's issued shares. Per the agreement, Columbia Care shareholders will receive 0.5579 subordinate voting shares of Cresco Labs for each Columbia Care common share. This strategic move reflects a significant development in the cannabis industry, aligning the two companies for mutual growth and market presence
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