Cannabidiol (CBD) Market Size By Product (Oil, Tinctures, Suppository, Transdermal Patches, Isolates, Tablet, Capsules, Vape Oil, Creams And Roll-On, CBD Inhalers), By Application (Anxiety/Stress, Sleep/Insomnia, Chronic Pain, Migraine, Skin Care, Seizure

Cannabidiol (CBD) Market Size By Product (Oil, Tinctures, Suppository, Transdermal Patches, Isolates, Tablet, Capsules, Vape Oil, Creams And Roll-On, CBD Inhalers), By Application (Anxiety/Stress, Sleep/Insomnia, Chronic Pain, Migraine, Skin Care, Seizures, Joint Pain & Inflammation, Neurological Conditions), By Route of Administration (Oral, Topical, Inhalation, Transdermal Patches, Rectal, Sublingual), By Source (Marijuana, Hemp), By Distribution Channel (Online, Offline {Hospital Pharmacy, Retail Stores}), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028

The global cannabidiol (CBD) market is expected to expand at a significant rate through 2028 owing to its effective pain relief benefits. In addition, growing use of CBD in various treatments is slated to further fuel industry growth over the forecast period.

The cannabis-derived therapy for treating epileptic seizures is quite a popular discovery. Cannabidiol-based products and drugs are being meticulously adopted in various industries, such as skincare or beauty & health and pet products. For instance, in July 2020, Epidiolex (CBD) oral solution was approved by the US Food and Drug Administration for use in the treatment of seizures related to tuberous sclerosis complex (TSC) in patients aged one year and above. It is the first FDA-approved medication that contains a pure cannabis-derived drug ingredient. Thus, the expanding scope of therapeutic application of cannabis has played a vital role in business growth.

The cannabidiol (CBD) market has been bifurcated in terms of product, application, route of administration, source, distribution channel, and region. Based on product, the CBD market has been segmented into suppository, transdermal patches, oil, tablets, isolates, tinctures, creams and roll-on, vape oil, capsules, CBD inhalers, and others. In 2021, the suppository sub-segment recorded a market valuation of approximately USD 523.9 million and is anticipated to observe sturdy growth over the review timeline.

With respect to application, the cannabidiol (CBD) market has been divided into anxiety/stress, chronic pain, sleep/insomnia, migraines, joint pain & inflammation, skin care, seizures, neurological conditions, and others. The skin care sub-segment held a market share of around 2.2% in 2021 and is slated to record substantial growth in the forthcoming years.

With regards to route of administration, the industry has been classified into topical, oral, inhalation, rectal, transdermal patches, and sublingual. The inhalation sub-segment was valued at about USD 733.4 million in 2021 and is set to witness robust growth between 2022 and 2028.

Based on source, the cannabidiol (CBD) market has been categorized into marijuana and hemp. The marijuana sub-segment is slated to experience a sturdy growth at a rate of above 21.0% over the forecast period.

In terms of distribution channel, the CBD industry has been bifurcated into online and offline. The offline sub-segment is speculated to grow at a notable CAGR to surpass USD 28.6 billion in revenue by 2028.

From the regional standpoint, the Latin America cannabidiol (CBD) market is likely to exhibit positive growth at a rate of over 22.1% through the review timeframe. Meanwhile, the Middle East and Africa cannabidiol (CBD) industry accounted for roughly 2.2% of the overall industry revenue in 2021 and is anticipated to showcase steady progress between 2022 and 2028.