The CBD market around the world had a value of USD 3 billion in 2018, and it is expected to reach USD 22,07,162.54 million by 2026, with a growth of 125.5% between 2019 and 2026. America was the biggest CBD market, controlling 78% of it, followed by Europe.
When it comes to CBD form, liquid was the most popular with 51% of the market share in 2018. It is projected to grow 127% in the forecast period. The tincture sector accounted for 36% of the market in 2018 and is projected to grow 126%.
So, who are the biggest brands in the CBD industry? You’ve got Endoca, Verma Farms, Verified CBD, Isodiol International, Medical Marijuana, Canopy Growth Corporation, Elixinol, CBD Health Solutions, Green Roads, and Freedom Leaf, Inc.
When it comes to segmenting the CBD market, it looks a little bit like this:
- Region
- Source
- End-user
- Application
- By product
- Administration routes
- Form
The global cannabidiol market is divided into liquid and solid. The solid form of CBD can be divided between crystals, wax, soft gel or capsule, and hash. The liquid form of CBD can be divided between e-liquid, cream, tincture, and CBD oil.
When it comes to product basis, the CBD market around the world can be divided between therapeutic grade and food grade. When it comes to application, it is divided between diabetes, energy drinks, fibromyalgia, and neurogenerative disorder.
In terms of the end-user for CBD, it is divided between food and beverage, healthcare, and others. In terms of source, it is between organic and inorganic. Regional analysis is between Latin America and North America, and the North American market can be divided further between Canada and the U.S.
In terms of Latin America and the market for CBD there, it is divided between the rest of Latin America and Brazil. The Americas currently are at the top of the CBD market, because of increased consumption. The rising demand for CBD products has increased the market potential, and in America, 60% of the population believed in 2016 that it should be legalized.
A recent poll also found that 54% of Americans thought that it should be legalized without any strings attached, while 81% thought that it should be legalized for medicinal purposes. Currently, cannabis is legalized for medicinal use in 28 different states. The only sector of CBD has significantly increased the availability and market growth in general, as consumers continue to prefer purchasing their products online.
In Summary
- The CBD market globally is expected to reach over USD 22 million by 2026.
- The Americas hold the largest share of the market, with Latin America being the biggest contributor to the continuing uphill climb of the market.
- Capsules and gummies are projected to be the fastest-growing administration route, with a growth of 128% during the period that is forecast. CBD taken in capsule form means that you are able to bypass the taste if it is not to your liking. This form of CBD is convenient to use and easy to measure when dosing.
