Cannabidiol Extract Market - By Type (CBD Oil Extracts {Full Spectrum, Broad Spectrum}, CBD Isolates), By Source (Hemp, Marijuana), By Application (Pharmaceuticals {Transdermal Patches, Suppository}, F&B, Cosmetics), By Region - Global Forecast to 2032

Cannabidiol Extract Market - By Type (CBD Oil Extracts {Full Spectrum, Broad Spectrum}, CBD Isolates), By Source (Hemp, Marijuana), By Application (Pharmaceuticals {Transdermal Patches, Suppository}, F&B, Cosmetics), By Region - Global Forecast to 2032

Global Cannabidiol (CBD) Extract Market is expected to expand considerably through 2032 owing to the surging adoption of cannabis extracts including isolates and oils.

The cannabidiol extract industry is expected to grow further due to its medicinal effects as well as increased consumer awareness of cannabis extracts such as oils, tinctures, and others. Moreover, rising medical expenses in advanced economies and increased research into the use of cannabidiol for treating a variety of disorders will drive market expansion.

Leading industry players are seeking acquisition and partnership opportunities to improve their product portfolio and reach more customers in the overseas market. For instance, in June 2021, Valens Corporation, a major developer of cannabis derivative goods, announced the takeover of Green Roads as well as its manufacturing unit. The acquisition aims to increase its market presence by reaching out to unexplored areas in the U.S. market and expanding its business portfolio in the cannabis sector.

The cannabidiol (CBD) extract market has been divided in terms of type, source, application, and region.

Based on type, the CBD oil extracts segment is set to grow substantially over the review period. The rising use of CBD oil for a variety of medical ailments would contribute to the segmental expansion. Moreover, oil is easily ingested or administered, depending on the situation. Also, the market share would further be bolstered by its numerous benefits and easy regulatory paths.

With respect to application, the food & beverages sector is anticipated to amass more than USD 4.6 billion by 2032. Increasing use of CBD-infused foods and drinks makes it possible to treat daily pain, stress, and sleep problems. Also, taking CBD extracts can help cancer patients with their digestion, joint discomfort, as well as inflammation.

From the regional outlook, the Middle East & Africa CBD extract market is estimated to expand at over 18% CAGR from 2023 to 2032. The regional market growth can be credited to the ongoing research on the use of CBD extract and its medicinal advantages in everyday life. Moreover, the market is anticipated to further be bolstered over the course of the projected period as a result of the numerous benefits offered by food and drink infused with CBD extract.