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Cannabidiol Extract Market Size

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

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Cannabidiol Extract Market Size

Cannabidiol Extract Market size 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.

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Extensive uptake of cannabidiol-based products in numerous forms, such as beauty & health, CBD pharmaceutical, and pet products, is propelling market progress. Changing consumer perception about cannabis-derived products and the ways to apply and consume CBD products is likely to promote industry penetration. Additionally, positive legislative actions have amplified CBD use for medical conditions viz., seizures, anxiety, muscle disorders, and Parkinson’s disease. In recent years, CBD-based products have been sold as supplements in several countries, including the U.S., Canada, the UK, the Netherlands, Italy, and so on, which is also forecast to spur industry expansion.

Cannabidiol Extract Market Report Attributes
Report Attribute	Details
Base Year:	2022
Cannabidiol Extract Market Size in 2022:	USD 5.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	21%
2032 Value Projection:	USD 36.1 Billion
Historical Data for:	2018 to 2022
No. of Pages:	280
Tables, Charts & Figures:	317
Segments covered:	Type, Source, Application, and Region
Growth Drivers:	Growing medical applications of CBD Increasing product adoption and utilization owing to government approvals Changing regulatory landscape for approval Increasing preference toward cannabis extracts such as oils and isolates
Pitfalls & Challenges:	Side effects associated with CBD oil Duplicate & synthetic products available in the market

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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.