Global Hemp-Derived Cannabidiol Market, By Type (Hemp Fiber, Hemp Seed, Hemp Seed Oil, CBD Hemp Oil), Product Type (Hemp-derived CBD Distillate, Hemp-derived CBD Isolate, Hemp-derived CBD Terpenes, Others), Application (Nutraceuticals, Atopic Dermatitis, Seizure, Anxiety, High Cholesterol, Others), End-Users (Clinic, Hospital, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) – Industry Trends and Forecast to 2031.
Hemp-Derived Cannabidiol Market Analysis and Size
In the pharmaceutical sector, hemp-derived cannabidiol (CBD) holds promise as a therapeutic agent for various medical conditions. Research suggests that CBD may have potential in treating epilepsy, anxiety disorders, chronic pain, and other ailments. Pharmaceutical companies are actively developing CBD-based medications and conducting clinical trials to assess their efficacy and safety. These medications could offer novel treatment options for patients, especially those who have not responded well to traditional pharmaceuticals. The pharmaceutical application of the hemp-derived CBD market represents a significant opportunity to address unmet medical needs and improve patient outcomes through innovative treatments.
Global hemp-derived cannabidiol market size was valued at USD 206.85 million in 2023 and is projected to reach USD 360.76 million by 2031, with a CAGR of 7.20% during the forecast period of 2024 to 2031. 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 depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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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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Type (Hemp Fiber, Hemp Seed, Hemp Seed Oil, CBD Hemp Oil), Product Type (Hemp-derived CBD Distillate, Hemp-derived CBD Isolate, Hemp-derived CBD Terpenes, Others), Application (Nutraceuticals, Atopic Dermatitis, Seizure, Anxiety, High Cholesterol, Others), End-Users (Clinic, Hospital, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Groff North America Hemplex (U.S.), Biophore (India), Johnson Matthey (U.K.), Curia Inc. (U.S.), Wavelength (U.S.), Noramco (U.S.), Purisys (U.S.), Xi'an Tian Guangyuan Biotech Co., Ltd. (China), Agno Pharma (U.S.)
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Market Opportunities
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Market Definition
Hemp-derived cannabidiol (CBD) is a compound extracted from the hemp plant known for its potential health benefits. Unsuch as THC, another compound found in cannabis, CBD doesn't induce psychoactive effects. It's commonly used in various wellness products such as oils, creams, and edibles for its reported calming and therapeutic properties.
Hemp-Derived Cannabidiol Market Dynamics
Drivers
- Growing Demand of Hemp-Derived Cannabidiol due to Increased Consumer Awareness
As information about the potential health benefits of CBD spreads, consumers are becoming more knowledgeable about its therapeutic properties, including pain relief, stress reduction, and sleep improvement. This heightened awareness has led to a growing interest in CBD products across a wide demographic, from health-conscious individuals seeking natural remedies to those exploring alternative treatments for various ailments. As more people share their positive experiences with CBD, word-of-mouth recommendations and testimonials further fuel consumer interest and confidence in these products. This increased awareness is driving demand for CBD-infused products, contributing significantly to market growth.
- Rapid Regulatory Changes Increases the Adoption of Hemp-Derived Cannabidiol
As governments worldwide revise laws surrounding hemp cultivation and CBD products, barriers to market entry are lowered, fostering increased production and distribution. Legalization provides clarity and legitimacy to the industry, attracting investment and encouraging innovation in product development and research. Regulatory changes often lead to the establishment of quality standards and testing requirements, enhancing consumer confidence in CBD products. This evolving regulatory landscape creates new opportunities for businesses to operate within compliant frameworks and expands the market reach of CBD products to a broader audience.
Opportunities
- Expansion of Distribution Channels Fosters the Demand of Hemp-Derived Cannabidiol
This expansion involves the inclusion of CBD products in diverse retail outlets such as online platforms, specialty stores, pharmacies, and even mainstream retailers. Increasing the availability of CBD products, companies can reach a broader customer base and capitalize on growing demand. The proliferation of distribution channels facilitates consumer education and awareness about CBD, driving further market growth. This trend is pivotal in fostering market expansion and establishing CBD products as mainstream consumer goods.
- Rising Research and Development Promotes Innovations in Hemp-Derived Cannabidiol
R&D efforts focus on understanding CBD's therapeutic properties and optimizing its extraction methods, formulation techniques, and delivery systems. This leads to the development of novel CBD-based products with enhanced efficacy, safety, and bioavailability. Additionally, ongoing research initiatives explore the pharmacological mechanisms of CBD and its potential in treating various medical conditions, further expanding the market's scope. R&D investments by pharmaceutical companies, academic institutions, and government agencies drive technological advancements and regulatory approvals, fostering market growth and shaping the future of CBD-based therapies.
Restraints/Challenges
- High Quality Control Challenges Limits the Adoption of Hemp-Derived Cannabidiol
Variations in cultivation methods, extraction processes, and product formulations can lead to inconsistencies in CBD product quality, potency, and purity. Without robust quality control measures, there's a risk of contamination with pesticides, heavy metals, and other impurities, compromising product safety. Additionally, the lack of standardized testing protocols and labeling requirements makes it difficult for consumers to assess product quality and efficacy.
- Growing Price Competition Hampers the Demand of Hemp-Derived Cannabidiol
With an abundance of suppliers and brands offering CBD products, intense competition drives prices lower, making it challenging for companies to maintain profitability and invest in research, development, and quality control. Price-driven competition can lead to compromises in product quality and safety as companies seek to reduce costs to remain competitive, potentially eroding consumer trust and market integrity. Moreover, price wars may discourage market entry for new players and deter investment in value-added services and innovation, stifling market evolution and differentiation.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In August 2021, L Catterton and Crown Laboratories announced the acquisition of StriVectin, reflecting a growing trend of major investments in skincare companies. This move could potentially influence the hemp-derived cannabidiol (CBD) market as skincare products often incorporate CBD for its purported benefits. With a focus on expanding skincare portfolios, this acquisition might lead to increased competition and innovation within the CBD skincare sector
- In June 2021, bioMérieux launched the REVEAL Rapid AST system in Europe, highlighting the importance of rapid diagnostic solutions in healthcare. While not directly related to hemp-derived CBD, advancements in diagnostic technology can indirectly impact the CBD market by promoting health awareness and facilitating better patient outcomes. Enhanced diagnostic capabilities could potentially drive demand for CBD products as consumers seek holistic wellness solutions
- In April 2021, Jordana Brewster collaborated with Clearblue for the Real Talk with Conceivinghood Campaign, shedding light on fertility issues. While fertility awareness may not directly intersect with the CBD market, campaigns promoting women's health and wellness align with the ethos of the CBD industry, which often emphasizes holistic approaches to well-being. Such collaborations contribute to a broader cultural conversation around health and wellness, potentially increasing interest in CBD products among health-conscious consumers
Hemp-Derived Cannabidiol Market Scope
The market is segmented on the basis of type, product type, application, end-users and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
Type
- Hemp Fiber
- Hemp Seed
- Hemp Seed Oil
- CBD Hemp Oil
Product Type
- Hemp-derived CBD Distillate
- Hemp-derived CBD Isolate
- Hemp-derived CBD Terpenes
- Others
Application
- Nutraceuticals
- Atopic Dermatitis
- Seizure
- Anxiety
- High Cholesterol
- Others
End-Users
- Clinic
- Hospital
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Hemp-Derived Cannabidiol Market Regional Analysis/Insights
The market is analyzed and market size information is provided by the country, type, product type, application, end-users and distribution channel as referenced above.
The countries covered in the market report are the U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa.
North America dominates in the market due to a robust demand for CBD distillate for its medicinal applications, driving consumption. Heightened awareness surrounding the benefits of hemp-derived CBD has spurred its popularity. Additionally, the region's high disposable income allows for greater spending on wellness products such as CBD. North America's well-established healthcare infrastructure facilitates distribution and access to CBD products, further fueling market dominance.
Asia-Pacific is expected for growth in the market, primarily fueled by escalating research and development endeavors. Increased investments in the healthcare sector, coupled with robust government support, further propel this trajectory. These factors converge to foster innovation, technological advancement, and enhanced healthcare infrastructure, positioning the region for significant economic and societal development in the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.
Competitive Landscape and Hemp-Derived Cannabidiol Market Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- Groff North America Hemplex (U.S.)
- Biophore (India)
- Johnson Matthey (U.K.)
- Curia Inc. (U.S.)
- Wavelength (U.S.)
- Noramco (U.S.)
- Purisys (U.S.)
- Xi'an Tian Guangyuan Biotech Co., Ltd. (China)
- Agno Pharma (U.S.)
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