CBD Water Market Size, Share, Industry, Forecast and outlook (2023-2030)

CBD Water Market is Segmented By Source (hemp, marijuana), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2029

Market Overview

The CBD Water Market is expected to grow at a CAGR of 26.90% during the forecast period (2022-2029)  

• Cannabidiol (CBD) is a naturally occurring compound that is extracted from cannabis plants. It is a 21-carbon terpenophenolic compound that is formed following decarboxylation from a cannabidiolic acid precursor.

Market Trends

• The key factors driving the market include the growing demand for CBD globally as it is used to cure various human diseases. CBD products have several benefits like protection from Alzheimer’s disease, anti-inflammatory properties, and helping to treat epilepsy and mental health disorders.

• Cannabidiol is widely adopted as it helps in drug withdrawal and is highly recommended for cancer cases.

Market Segmentation Analysis

• The global market for Cannabidiol (CBD) is broadly segmented by product type as – Hemp-derived and Marijuana-derived. According to the Hemp Business Journal, the CBD Oils from marijuana-based sources are expected to reach USD 1.6 billion, i.e., around 80% of the total CBD market.

• Marijuana-derived CBD products are extensively used globally for numerous medical purposes. Cannabis sativa is the source plant for extracting marijuana, which contains over 80 compounds of cannabinoids.

• The demand for Marijuana-derived CBD products is increasing as they contain high concentrations of THC in comparison to hemp-derived CBD products.

• The Industrial Hemp Farming Act of 2015 excluded hemp from the Drug Enforcement Administration’s controlled substances list, which effectively legalized hemp-derived CBDs. Many other countries around the world have similarly permitted the importation of hemp-based CBD products.

Geographical Share

• The global CBD market is segmented into North America, Europe, Asia Pacific, South America, and ROW.

• CBD oil products are highly preferred by US consumers.

• Also, countries such as South American countries, including Uruguay, Peru, Chile, Colombia, Brazil, and Argentina have legalized the application of marijuana products for medical purposes. These factors are leading North America to be the largest market of the global CBD market.

• Major market players of CBD oil production are present in North America. It is estimated that in 2020 industry sales of marijuana-derived CBD will total around USD 417 million.

Competitive Analysis

• The market is highly competitive with the continuous product and technological developments. The players are also focusing on strategic collaborations and agreements to expand their geographic footprint and intensify market competitiveness.

Recent Developments in this market:

• In Feb 2018, the Marijuana Company of America (MCOA) launched its hempSMART Full Spectrum Pet Drops with a specially formulated product containing naturally occurring CBD derived from hemp seed oil, full-spectrum hemp extract, and fractionated coconut oil, along with a creamy bacon flavor.

Market Key Companies

• CW Hemp

• Plus CBD Oil

• Mary’s Medicinals

• Bluebird Botanicals

• TertraLabs

• HempMeds

• Medical Marijuana

• CBD Naturals

• Gaia Botanicals

• ENDOCA

Key Takeaways from this report

• North America is leading the global CBD market due to increasing demand for CBD products by consumers, and a large number of players are US-based.

• The overall market for CBD will be primarily driven by the high demand for CBD products because of their several health benefits.

• Marijuana-derived CBD has the largest market segment due to rising preference by consumers because of their high concentrations of THC in comparison to hemp-derived CBD products.

CBD Water Market Scope

Trending Topics

Bottled Water Market

Water enhancers market

Remote Patient Monitoring Market