Global Cannabidiol (CBD) Supplements Market Analysis

The Global Cannabidiol (CBD) Supplements Market size stood at around xx Bn in 2023 and is projected to reach US $xx Bn by 2033, exhibiting a CAGR of xx% during the forecast period.

The Global Cannabidiol (CBD) Supplements Market Analysis Executive Summary

Cannabidiol (CBD) supplements are derived from the cannabis plant and contain one of the many active compounds known as cannabinoids. Unlike tetrahydrocannabinol (THC), CBD does not produce psychoactive effects, making it appealing for those seeking therapeutic benefits without the "high." CBD is commonly marketed for its potential health benefits, including relief from anxiety, chronic pain, and inflammation, as well as its use in treating epilepsy through products like Epidiolex, which is FDA-approved for specific seizure disorders.

Globally, the scenario for CBD supplements is rapidly evolving, with increasing consumer interest and acceptance. Research indicates that the use of CBD has surged, particularly in regions where cannabis laws have relaxed. For instance, a survey found that approximately 14% of U.S. adults reported using CBD products in 2019, reflecting a growing trend towards natural remedies. The World Health Organization has noted that CBD exhibits no effects indicative of abuse or dependence potential. However, while the demand for CBD supplements is increasing, concerns remain regarding product quality and regulation. Studies have shown significant variability in CBD content among products sold online, with some containing less CBD than advertised or even THC. This highlights the importance of consumer education and regulatory oversight to ensure safety and efficacy in this burgeoning market.     

Global Cannabidiol (CBD) Supplements Market Dynamics

Market Growth Drivers

A major driver of this marker is the recent surge of the decriminalisation of CBD and its derivatives in many countries. For example, Canada, South Africa and Thailand are among the countries that have legalized the recreational use of Cannabis and its derivatives. Additionally there have been several scientific papers that have been published that have advocated for the use of CBD products in the treatment of chronic illnesses. A survey found that about 68% of users reported effectiveness in alleviating symptoms such as anxiety and pain. The rise of e-commerce platforms has also made CBD supplements more accessible to consumers, allowing for greater variety and convenience in purchasing. As awareness of the potential benefits continues to spread, more individuals are willing to incorporate CBD supplements into their health regimens

Opportunity

With the increased funding in the research of the benefits of CBD supplements, there is an opportunity for companies to diversify and create novel products that can reach a wider and more diverse customer base. Gummies and other edible CBD products are quite popular with consumers, hence there is an opportunity to intensify marketing of these products in order to gain a larger market share. 

Market Restraints

A major restraint of this market is the negative image that CBD supplements have among consumers. As CBD is derived from the hemp plant (also known as marijuana) CBD products are usually misrepresented as drugs even though they do not contain the psychoactive ingredient that produces a high. Another restraint is that the use of marijuana and its derivatives, including CBD, is still considered a criminal offence in most territories which restricts the growth of this market. One more significant concern is the lack of regulation and quality control in the CBD market, which can lead to inconsistencies in product potency and purity. Research has shown that many CBD products do not contain the levels of cannabinoids advertised on their labels, raising concerns about consumer safety. Additionally, while some studies suggest positive outcomes, comprehensive clinical research on long-term effects and efficacy is still limited, which can lead to skepticism among potential users

Competitive Landscape for Cannabidiol (CBD) Supplements Market in Global

Key Players

• Aphria Inc
• Canopy Growth Corporation CV Sciences
• Elixinol Global Limited
• Freedom Leaf Inc
• Folium Biosciences
• Green Roads of Florida
• Isodiol International Inc
• Medical Marijuana Inc
• Nano Hydrate

Recent Developments

In January 2022, CV Sciences Inc launched +PlusCBD pain treatment topicals with four OTC medications used to target the origins of minor aches and pains.

In January 2021, Nano Hydrate made their pharmaceutical-grade branding services available.

Mergers and Acquisitions

In June 2021, Green Roads was acquired by The Valens Company for $60 million. The Valens Company now has access to the extensive and well-established networks in the US CBD industry. 

Healthcare Policies and Regulatory Landscape for Cannabidiol (CBD) Supplements Market in Global

Although the benefits of CBD supplements are reported by many companies in this industry, regulatory bodies do not recognize CBD products as dietary supplements. For example the FDA of the United States of America bans CBD claims for the diagnosis, cure, mitigation, treatment or prevention of disease. The FDA also bans adding CBD to human or animal food products, however the addition of CBD in cosmetic products is allowed.