Since its national legalization in 2018, interest in Cannabidiol (known as CBD oil) has skyrocketed. CBD oil can be found in skin care, beverages, supplements, medical applications and more. According to BDS Analytics and Arcview Market Research, the CBD Market has the potential to expand by 1000% into a $20 billion industry by 2026 (it’s currently estimated at $1.4 billion). As consumer interest in CBD oil grows, distributors of all sizes and backgrounds want to sell it, including grocery stores, pharmacies, gas stations, and more. BDS reports that these general retailers will take more of the market share, replacing dispensaries and other specialized distributors.
CBD products are segmented into two categories of usage: food and therapeutic. The therapeutic market is estimated to hold the largest market share throughout the forecast time period. Demand for therapeutic grade CBD oil arises from the treatment of neuropsychiatric disorders, as well as chronic disorders.
CBD is segmented into a variety of user applications, including fibromyalgia, neurogenerative disorders, protein bars, energy drinks, diabetes, and others. The market for fibromyalgia is expected to reach $4.24 billion in 2026 due an increase of physiological disorders among young adults. CBD oil is believed to assist with inflammation, pain relief, insomnia, anxiety and more.
CBD in the Asia Pacific market is estimated to reach $3.10 billion by 2026, with increasing popularity for CBD in food products. Companies in India, China, Nepal, and other nations are collaborating to create new products for the larger CBD market. Population increase and urbanization in these areas will continue to drive demand for CBD food products during the forecast period.
There are several players in the CBD market including, CV Sciences, Isodiol International, Medical Marijuana, Aurora Cannabis, CBD American Shaman, Canopy Growth Corporation, IRIE CBD, The Supreme Cannabis Company, General Cannabis Corp., Cannabis Sativa, Inc., and Insys Therapeutics, Inc.
In order to make this CBD industry forecast, BDS covered all areas of growth at the global, country and regional levels. This wide geographical overview was key to their analysis of the industry and where it is headed.
Segments covered in the report include:
Form (Revenue, USD Million; 2016-2026)
- Concentrated Oil
Routes of Administration (Revenue, USD Million; 2016-2026)
- Inhalation – smoke/ vapor
- Aerosol Spray
- Tincture Spray
Product (Revenue, USD Million; 2016-2026)
- Food Grade
- Therapeutic Grade
Application (Revenue, USD Million; 2016-2026)
- Neurogenerative Disorder
- Energy Drinks
- Protein Bars
End Use (Source, USD Million; 2016-2026)
- Food/ Beverage
Source (Revenue, USD Million; 2016-2026)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
- Asia Pacific
- Latin America