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Cannabidiol Extract Market Share

Report ID: GMI5474
Published Date: Mar 2023
Report Format: PDF

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Cannabidiol Extract Market Share

Green Roads
Bedrocan
NuLeaf Naturals, LLC
Global Cannabinoids
SPARKCBD
Mile High Labs International Inc.
Rhizo Sciences
Maricann, Inc.
Folium Biosciences

are some key firms operating in the cannabidiol extract market. These companies are developing innovative products to cater to diverse consumer needs and attain a competitive edge in the industry. For instance, in March 2023, mood elevation expert Daytrip Beverages introduced its NightTrip gummies at the Natural Products Expo West. These gummies, which are available in a CBD + CBN infused variant, are gluten-free and vegan and are created to ease tension and support restful sleep.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

CBD Extract Industry surpassed a valuation of USD 5 billion in 2022 and is foreseen to depict 21% CAGR between 2023 and 2032 on account of soaring product utilization backed by increasing government approvals.

Marijuana segment is speculated to exceed USD 9.5 billion in revenue by 2032 bolstered by mounting applications of marijuana-based CBD products for pain relief, depression, and for the treatment of Alzheimer’s disease, dementia, neuropathic pain, and other brain-related illnesses.

North America cannabidiol extract market was worth more than USD 3 billion in 2022 and is projected to exhibit steady progress over the forecast period. Surging adoption of marijuana for medical utilization, such as for managing pain, inflammation, anxiety, and stress among the adult population in the region is likely to boost product sales.

Green Roads, Bedrocan, NuLeaf Naturals, LLC, Global Cannabinoids, SPARKCBD, Mile High Labs International Inc., Rhizo Sciences, Maricann, Inc., and Folium Biosciences, among others, are some key firms operating in the market.