CANNABIDIOL CONSUMER HEALTH MARKET ANALYSIS

Cannabidiol Consumer Health MarketSize and Trends

The global cannabidiol (CBD) consumer health market was valued at US$ 14.7 Bn in 2022 and is forecast to reach a value of US$ 82.0 Bn by 2030 at a CAGR of 23.2% between 2023 and 2030. The global cannabidiol (CBD) consumer health market is experiencing strong growth due to the increasing demand for CBD nutraceuticals. Moreover, growing adoption of CBD topicals across the world is expected to boost the market growth. However, factors such as high cost of cannabidiol (CBD) consumer health are expected to hamper the market growth.

Global Cannabidiol (CBD) Consumer Health Market Trends:

Rising demand for alternative medications

• Alternative medications have been developed to restore the body's balance and are distinct from traditional therapy. These medicines are typically made using natural, side-effect-free components. Due to patients' growing discontent with conventional medicine, the growing emphasis on holistic health, and their increased involvement in their own care, alternative treatments are becoming more and more in demand.
• As CBD compounds contain natural antioxidant properties, which are considered a holistic approach for every health condition, the significant demand for alternative treatments for various health issues is observed to boost demand, utilisation, and consumption for CBD compounds by creating a plethora of opportunities for market players. Additionally, CBD's anti-depressant and anti-inflammatory effects suggest a potential cure for chronic illnesses.