There is a rising need for nutrient-rich nutritious food items to help people achieve their fitness objectives and avoid problems like inflammation and discomfort. Leading market players are focused on the introduction of CBD-infused goods. CBD oil is a non-psychoactive and legal component of hemp that may be employed in a variety of sectors including food, health goods, medicines, and cosmetics. Despite this, favourable legislation for the use of cannabis and related goods continue to be provided from a range of places. The majority of areas continue to maintain a rigorous regulatory presence in this area. Furthermore, in growing countries of the world such as South America, East Asia, Europe, and others, there is a lack of knowledge and awareness about the numerous advantages, which might limit market growth.
According to Coherent Market Insights, the global Cannabidiol Market size was estimated to be valued at US$ 3665.5 Million in 2021, and is expected to witness a CAGR of 47.3% over the forecast period (2021-2028).
Prominent Players in the Cannabidiol Industry
1. Canopy Growth Corporation
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products. Canopy Growth Corporation was incorporated in 2009 and is headquartered in Smiths Falls, Canada. ON June 23, 2021 Canopy Growth Corporation) and The Supreme Cannabis Company, Inc. announced the completion of the previously announced arrangement (the “Arrangement”) whereby Canopy has acquired all of the issued and outstanding common shares of Supreme
2. Aphria, Inc.
Aphria is integrating their growing expertise with Health Canada’s new Marijuana for Medical Purposes Regulations (MMPR) for medicinal marijuana industry. Possessing greenhouse related growing experience in plant and produce related expertise since 1943, Aphria is positioned to be an industry leader in providing patients with the highest quality medical marijuana.founded in 2014. On May 03, 2021 Tilray, Inc. and Aphria Inc announced the completion of the previously announced business combination, ushering in a new era in the global cannabis industry. The combined company, which will operate as Tilray (the “Company”), brings together two highly complementary businesses to create the leading cannabis-focused consumer packaged goods (“CPG”) company with the largest global geographic footprint in the industry
3. Aurora Cannabis
Aurora Cannabis Inc., together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. The company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Whistler, Being, and Greybeard, as well as CBD brands, Reliva and KG7; and medical cannabis brands include MedReleaf, CanniMed, Aurora, and WMMC. Aurora Cannabis Inc. is headquartered in Edmonton, Canada. Founded in 2013.
4. Maricann, Inc. (Wayland Group Corporation)
Wayland Group Corp. produces and sells medical and non-medical cannabis for cannabis patients and consumers in Canada and internationally. It offers a range of CBD, balanced, and THC strains under the Kiwi, Northern Harvest, High Tide, Lost at Seed, Solara C, Rare Dankness, and Maricann names. The company was founded in 2013 and is headquartered in Oakville, Canada. Wayland Group Corp. is a subsidiary of Maricann Group Inc.On Dec. 11, 2018 Wayland Group announced it has entered into an agreement to purchase 819 hectares of existing developed agriculture land in San Juan Province in Argentina.
5. Tilray
Tilray Brands, Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. The company operates through four segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, and Wellness Business. Tilray Brands, Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. The company operates through four segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, and Wellness Business. On July 12, 2022 Tilray Brands, Inc announced that the Company has closed its previously-disclosed acquisition from HT Investments MA LLC (“HTI”) of the secured convertible note (the “HEXO Note”) issued by HEXO Corp. founded in 2013.
6. Organigram Holding, Inc.
Organigram Holdings Inc., through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, gummies, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the SHRED, Big Bag O' Buds, Monjour, SHRED'ems, Edison Cannabis Co., Edison JOLTS, Tremblant, and Laurentian brands; and cannabis edibles products and concentrates. Organigram Holdings Inc. was incorporated in 2010 and is headquartered in Toronto, Canada. On December 21, Organigram Holdings Inc. the parent company of Organigram Inc. announced it has acquired all of the issued and outstanding shares of Laurentian Organic Inc.
7. Tikun Olam
Tikun Olam-Cannbit Pharmaceuticals Ltd engages in the research, development, cultivation, manufacture, and distribution of medical cannabis and related products. It also provides training and patient care services. The company is based in Nof Hagalil, Israel. On Jan. 17, 2023 Tikun announced the restructuring of its balance sheet with senior creditors fully converting $14 million debt into new equity. The company was founded in 2003.
8. The Cronos Group
Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets. Cronos Group Inc. was founded in 2012 and is based in Toronto, Canada. On Sept. 05, 2019 Cronos Group Inc announced that it has closed its previously announced acquisition of four Redwood Holding Group, LLC operating subsidiaries.
*Definition-CBD is a molecule found in the cannabis sativa plant, popularly known as marijuana or hemp. The cannabis sativa plant contains over 80 compounds known as cannabinoids.
