Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 10,294.1 Million | USD 37,602.7 Million | 24.10% | 2021 |
FrequentlyAsked Questions
The expanding number of benefits of cannabidiol in various health applications and marketing and advertising operations by market participants are some of the key forces driving product demand. The increased availability of consumer product options, such as topicals, analgesics, edibles, oils, tinctures, and a variety of other goods, is also propelling the CBD consumer in the health sector.
According to the report, the global CBD Consumer Health market was worth 10294.1 (USD million) in 2021 and is predicted to grow to 37602.7 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 24.10%.
North America is expected to dominate the CBD Consumer Health Market in 2021. This is due to a higher number of CBD firms and more flexible rules regulating the use of the products. Furthermore, an increase in consumption, increased awareness of their health benefits, expanding acceptance for CBD-based food and health products, legalizing hemp farming, and production of hemp-derived products in the United States are some of the primary reasons driving demand in North America.
Some of the main competitors dominating the Global CBD Consumer Health market include - Elixinol Global Limited; ENDOCA; NuLeaf Naturals LLC; Medical Marijuana Inc; CV Sciences Inc; Isodiol International Inc.; Kazmira; Charlotte's Web and Joy Organics; Lord Jones.
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