CBD Consumer Health Market by Product (Medical OTC Products, Nutraceuticals), Distribution Channel (Online, Retail Pharmacies, Retail Stores) - Global Forecast 2024-2030

CBD Consumer Health Market by Product (Medical OTC Products, Nutraceuticals), Distribution Channel (Online, Retail Pharmacies, Retail Stores) - Global Forecast 2024-2030

The CBD Consumer Health Market size was estimated at USD 10.77 billion in 2023 and expected to reach USD 12.46 billion in 2024, at a CAGR 15.79% to reach USD 30.07 billion by 2030.

The CBD consumer health market encompasses the sales, distribution, and consumption of cannabidiol (CBD) infused products aimed at improving overall health and wellness. The primary applications of these CBD-based products include pain management, stress relief, anxiety alleviation, and improvement in sleep quality. The increased awareness about the therapeutic benefits of CBD among consumers worldwide has improved the use of CBD consumer health products across the nutraceutical sector. Moreover, the relaxation of stringent regulations related to hemp cultivation and production has enhanced the production and availability of CBD consumer health products worldwide. The high costs associated with CBD consumer health products, along with inconsistent regulatory frameworks across different regions, have limited the product penetration of CBD consumer health products. However, the ongoing clinical trials investigating its effectiveness in treating various illnesses and continued investment from private investors and public sectors for exports and imports of medicinal CBD are expected to create growth opportunities for the CBD consumer health market in the coming years.

Regional Insights

The CBD consumer health market in the Americas is rapidly proliferating due to the legalization of cannabis cultivation and production, ongoing developments in CBD consumer health products, and increased consumer awareness toward the health benefits of CBD consumer health. Canadian consumers also show a growing interest in CBD for health and wellness purposes, as reflected by Health Canada's recent regulatory changes to provide easier access to cannabis-infused products. The rising number of clinical trials to evaluate CBD's potential benefits for various health conditions, such as anxiety, inflammation, pain management, and sleep disorders are expanding the scope for CBD consumer health products in the EMEA region. The Asia-Pacific region represents a rapidly evolving CBD consumer health market due to the flourishing nutraceutical and skincare industry, along with growing investments for CBD in the field of oncology.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the CBD Consumer Health Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Legalization of Cannabis for Medicinal Purpose Across Various Countries
    • Increasing Demand for CBD Nutraceuticals
    • Rising Health Awareness and Increase in the Number of Retailers Selling CBD-Based Products
    • Market Restraints
      • Lack of Dose Determination Information and Negative Interaction With Other Prescriptions
      • Market Opportunities
        • Initiatives and Investment taken for Research Activity on CBD in Healthcare
        • Rising Import/Export of Medicinal CBD and Expanding its Usage of CBD Topicals
        • Market Challenges
          • Availability of Alternatives, the High Price of CBD Products, and the Regulatory Concerns
          • Market Segmentation Analysis
            • Product: Popularity of CBD-infused medical OTC products due to easy availability and improved awareness regarding their health benefits
            • Distribution Channel: Improved consumer preference for buying CBD consumer health products on online platforms
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the CBD Consumer Health Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the CBD Consumer Health Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Irwin Naturals Cannabis Products Launch Nationwide in Canada
              
              Irwin Naturals Inc. launched Irwin Naturals Cannabis’ a new CBD 25mg Softgels in Canada that will be available nationwide through the Starseed Medicinal Medical Platform. With this launch, the company is introducing a high-quality cannabis-derived CBD oil product to allow consumers to incorporate premium CBD into their daily health regimens.
              
              Canopy Growth to Fast-Track Entry into the U.S. Cannabis Market
              
              Canopy Growth announced its strategic move to accelerate entry into the U.S. cannabis market. This strategic expansion enables Canopy Growth to capitalize on the once-in-a-generation opportunity in the largest cannabis market in the world.
              
              Martha Stewart CBD Launches its First-Ever Category Expansion with New Line of CBD Wellness Topicals
              
              Martha Stewart CBD launched Martha Stewart CBD Wellness Topicals, marking the brand's first-ever category expansion in its CBD portfolio. This category expansion highlights Martha Stewart CBD's commitment to innovation and growth in the cannabis industry.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the CBD Consumer Health Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the CBD Consumer Health Market, highlighting leading vendors and their innovative profiles. These include Aurora Cannabis Inc., Canopy Growth Corporation, CBD American Shaman, CBDepot s.r.o, Charlotte’s Web Holdings, Inc., Columbia Care Inc., Croda International PLC, Curaleaf, Inc., CURE Pharmaceutical Holding Corp., CV Sciences, Inc., Elixinol LLC, Endoca BV, Gaia Botanicals, LLC, Global Cannabinoids Inc., HEXO Corp., Isodiol International Inc., Jazz Pharmaceuticals, Inc., Joy Organics LLC, Kazmira LLC, Koninklijke DSM N.V., Medical Marijuana, Inc., Medterra CBD, LLC., Noramco, Inc., and NuLeaf Naturals, LLC.
            
            Market Segmentation & Coverage
            
            This research report categorizes the CBD Consumer Health Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Medical OTC Products
                • CBD Analgesic Products
                • CBD Dermatology Products
                • CBD Mental Health Products
                • CBD Sleeping Aids Products
                • Nutraceuticals
                  • CBD Sports Nutrition
                  • CBD Vitamins & Dietary Supplements
                  • CBD Weight Management & Wellbeing
                  • Distribution Channel
                    • Online
                    • Retail Pharmacies
                    • Retail Stores
                    • Region
                      • Americas
                        • Argentina
                        • Brazil
                        • Canada
                        • Mexico
                        • United States
                          • California
                          • Florida
                          • Illinois
                          • New York
                          • Ohio
                          • Pennsylvania
                          • Texas
                          • Asia-Pacific
                            • Australia
                            • China
                            • India
                            • Indonesia
                            • Japan
                            • Malaysia
                            • Philippines
                            • Singapore
                            • South Korea
                            • Taiwan
                            • Thailand
                            • Vietnam
                            • Europe, Middle East & Africa
                              • Denmark
                              • Egypt
                              • Finland
                              • France
                              • Germany
                              • Israel
                              • Italy
                              • Netherlands
                              • Nigeria
                              • Norway
                              • Poland
                              • Qatar
                              • Russia
                              • Saudi Arabia
                              • South Africa
                              • Spain
                              • Sweden
                              • Switzerland
                              • Turkey
                              • United Arab Emirates
                              • United Kingdom
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year