by The global cannabidiol (CBD) consumer health market comprises cannabidiol (CBD) products including oils, edibles, topicals and others developed for health and wellness applications. CBD is used to treat medical conditions like anxiety, chronic pain, inflammation, epilepsy etc. and helps in overall well-being. The increasing awareness about potential health benefits of CBD and growing popularity of CBD-infused supplements, food and beverages are fueling the demand for cannabidiol consumer health products globally.
The Global Cannabidiol Consumer Health Market is estimated to be valued at US$ 21.89 Mn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.
CBD is legal in many regions and considered safe and effective for treating various ailments, which is driving its adoption in consumer health market. However, lack of standardized dosage guidelines and restrictions in some geographies pose challenges.
Key Takeaways
Key players operating in the cannabidiol (CBD) consumer health are OSENSA Innovations Corp., AFL, SOLIFOS AG, Schlumberger Limited, FISO Technologies Inc., Yokogawa Electric Corporation, OFS Fitel, LLC., AP Sensing, Luna Innovations Incorporated, OptaSense, NEC Corporation, Halliburton Company and Omnisens S.A.
The growing demand for effective holistic remedies for alleviating numerous medical conditions is fueling the adoption of cannabidiol consumer products. Cannabidiol is gaining popularity as an add-on supplement for reducing anxiety, stress and for sleep support.
Many cannabidiol consumer brands are expanding globally by entering into new markets and through collaborations. International markets present lucrative opportunities due to increasing awareness and legalization of CBD use.
Market key trends
The growing popularity of CBD-infused foods and beverages is a key trend in the Global Cannabidiol Consumer Health Market Demand. Cannabis infused drinks including teas, sodas, seltzers and other beverages are in demand. Prominent food chains and cafes are adding CBD edibles to their menus. The introduction of different ingestion methods and formulation of CBD makes it more accessible and acceptable to general public.
Porter’s Analysis
Threat of new entrants: Major capital requirements and economies of scale in production and distribution pose barriers to entry.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes.
Bargaining power of suppliers: Suppliers have high bargaining power due to a limited number of raw material and component suppliers.
Threat of new substitutes: Potential threat from new substitute products from competitors.
Competitive rivalry: Fierce competition between existing players to gain market share.
Geographical Regions
North America accounts for the largest share of the cannabidiol consumer health market currently, due to early adoption and awareness among consumers. The U.S holds the major chunk of the North American market owing to strong economic conditions and increasing healthcare expenditure.
The Asia Pacific region is expected to witness the highest growth over the forecast period owing to growing acceptance of cannabis products for medical use and rising disposable incomes in emerging countries such as China and India. Increasing investments by market players and various initiatives by governments to promote cannabis for medical use is also augmenting market growth in the region.
