Cannabinol Market by Product Type (Capsules & Softgels, Edibles, Oils & Tinctures), Source (Non-Organic, Organic), Application, Distribution Channel - Global Forecast 2024-2030

Cannabinol Market by Product Type (Capsules & Softgels, Edibles, Oils & Tinctures), Source (Non-Organic, Organic), Application, Distribution Channel - Global Forecast 2024-2030

The Cannabinol Market size was estimated at USD 8.69 billion in 2023 and expected to reach USD 9.57 billion in 2024, at a CAGR 10.28% to reach USD 17.24 billion by 2030.

Cannabinol is a naturally occurring compound in the cannabis plant that is created as a result of the degradation of tetrahydrocannabinol (THC), the compound in cannabis, and is typically present in older cannabis products. The cannabinol (CBN) market is focused on producing, distributing, and selling CBN-infused products aimed at therapeutic and wellness applications, including pharmaceuticals, wellness products, cosmetics, and nutraceuticals. The market caters to various end-users, such as healthcare providers, wellness enthusiasts, and everyday consumers seeking natural relief options. The increasing public awareness of CBN’s potential therapeutic benefits and the rising interest in natural therapies drive the global demand for cannabinol. However, high production costs, the presence of counterfeit CBN products in the market, and the prevalence of product recalls hinder market growth. Moreover, with increased investment in research and innovation, including extensive clinical trials to substantiate therapeutic claims, advancements in product delivery mechanisms, and sustainable cultivation and extraction practices, the CBN market has substantial growth potential, making it a noteworthy sector within wellness and pharmaceuticals.

Regional Insights

The global cannabinol market showcases diverse regulatory environments and consumer interests across different regions. In the Americas, particularly the United States, the market is burgeoning with growing consumer interest in CBN as a component of sleep aids and relaxation products, propelled by a significant number of patents and robust investment in research and product development. The evolving regulations regarding cannabis and healthcare in the region contribute to the dynamic market landscape. Canada, with its legalized cannabis framework, fosters a conducive environment for cannabinoid research and commercial activities, driving a strong consumer preference for wellness products containing CBN. Consumers in the U.S. and Canada have a strong interest in wellness and natural health products, driving high demand and significant market activities. In EMEA, consumer needs and behaviors vary widely depending on the regulatory landscape. Europe shows a growing interest in CBN, driven by the wellness trend. The Middle East displays limited market activities due to strict regulations, while Africa shows nascent interest, with actions concentrated mainly in South Africa. In Asia Pacific, particularly in countries includin China, Japan, and India, the gradual changes in legal frameworks and increasing awareness increase the demand for cannabinol. Research and development initiatives regarding the health benefits of cannabinol within the region drive the demand for cannabinol.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cannabinol 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

• Growing applications in health and wellness sector due to potential therapeutic benefits
• Increased applications in production of pet supplements
• Government initiatives promoting the research and development of cannabis-based products

Market Restraints

• Environmental issues related to cultivation and production

Market Opportunities

• Ongoing technological advancements in extraction methods
• Advancements in production and packaging to extend the shelf life of CBN products

Market Challenges

• The presence of counterfeit CBN products and prevalence of product recalls

Market Segmentation Analysis

• Product Type: Extensive demands for capsules & softgels with rising healthcare applications
• Application: Expanding utilization of cannabinol for pet supplement production

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 Cannabinol 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 Cannabinol 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

CV Sciences Expands PlusCBD Pet Product Line with New Pet Chews

CV Sciences, Inc. announced the expansion of its PlusCBD pet product offerings with the introduction of new pet chews. This addition aims to cater to the growing demand for natural pet supplements that support overall wellness. These new products support the company’s commitment to improving the quality of life for pets through scientifically backed, high-quality CBD solutions.

Launch of Synthetic CBD by Healthcare Firm Marks Significant Advancement in Epilepsy Treatment

Akumentis Healthcare introduced a synthetic form of CBD targeted at managing epilepsy, marking a noteworthy innovation in medical treatments. The launch emphasizes the increasing acceptance and integration of cannabinoid-based therapies in mainstream medicine, offering new hope for patients afflicted with seizure disorders.

Zenara Receives Approval for Cannabidiol to Treat Neurological Disorders

Zenara received regulatory approval for its cannabidiol product, which is aimed at treating various neurological disorders. This decision represents a significant medical and pharmaceutical industry advance, opening doors for new therapeutic options for patients with neurological conditions. This development emphasizes the growing acceptance and integration of cannabinoid-based treatments in mainstream healthcare.

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 Cannabinol 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 Cannabinol Market, highlighting leading vendors and their innovative profiles. These include AURORA CANNABIS INC., CHARLOTTE’S WEB, INC., CV Sciences, Inc., Diamond CBD, Elixinol Wellness Limited, ENDOCA., Etz Hayim Holdings, SPC, Folium Biosciences Europe B.V., Gaia Botanicals, LLC, Gaia Herbs, Inc., Green Roads, High Labs International Inc., Isodiol International Inc., Medical Marijuana, Inc., Medterra CBD, LLC, NuLeaf Naturals, LLC, PharmaHemp d.o.o., and Shaman Botanicals LLC.

Market Segmentation & Coverage

This research report categorizes the Cannabinol Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product Type
• Capsules & Softgels
• Edibles
• Oils & Tinctures
• Topicals
• Vaporizer Products
• Source
• Non-Organic
• Organic
• Application
• Animal Health
• Medical & Therapeutic Uses
• Personal Care & Cosmetics
• Distribution Channel
• Offline
• Pharmaceutical Stores
• Specialty Stores
• Online

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