In terms of revenue, the Global CBD Nutraceuticals Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 18.9% from 2023 to 2030.
The CBD Nutraceuticals market refers to using CBD supplements in various forms, including capsules, tinctures, and gummies. Nutraceuticals are derived from natural sources, including herbal plants, fruits, and vegetables, and are known to impact the human body positively. CBD is an effective Nutraceutical used to treat different ailments due to its anti-inflammatory, anti-anxiety, and analgesic properties. The increasing demand for Cannabis-based products for therapeutic purposes, increased knowledge of CBD health advantages, and the legalization of Cannabis in numerous countries worldwide are driving market expansion.
Key Highlights from the Report
- Based on Product, the CBD Tincture segment dominates the CBD Nutraceuticals market with the maximum market share owing to its convenience, fast-acting nature, high bioavailability, and increasing acceptance and demand for CBD for health and wellness purposes.
- Based on Application, the Edibles & Fortified Food segment dominates the CBD Nutraceuticals market with the maximum market share owing to the increasing demand for CBD and the continuous development of innovative and diverse product offerings.
- Based on Distribution Channel, the E-Commerce Portal Platform segment is expected to be the fastest-growing category in the market during the forecast period (2023 –2030). The increasing consumer preference for online shopping, wide reach and accessibility, diverse product range, convenience, and the growing focus on health and wellness drives this growth.
- Based on Region, North America holds the significant market share within the CBD Nutraceuticals market and will continue to dominate during the forecast period. This growth can be attributed to increased consumer demand for natural products, growing acceptance among healthcare professionals, ease of access, and product innovation.
The market for CBD Nutraceuticals is rapidly expanding, with many companies now offering CBD-infused products such as edibles, tinctures, and topicals. CBD is a non-psychoactive chemical present in the cannabis plant that is thought to provide a variety of therapeutic advantages, such as pain alleviation, anxiety reduction, and enhanced sleep. Several factors, including the growing acceptance of Cannabis and CBD as a legitimate treatment option by consumers and healthcare professionals, drive the CBD Nutraceuticals market. There is also a growing awareness of the potential health benefits of these products, as well as improved education and research into the possible uses of CBD.
Another key driving force behind the CBD Nutraceuticals market is the changing legal landscape surrounding Cannabis and CBD. In the United States, the legalization of Cannabis at the state level has led to a patchwork of regulations that vary from state to state, with some allowing for the use of Cannabis and CBD for medical purposes. In addition, the passage of the 2018 Farm Bill in the United States effectively legalized hemp and CBD products nationwide, leading to a surge in demand for these products.
The CBD (cannabidiol) nutraceuticals market in North America has been experiencing significant growth in 2021. Several factors have contributed to this growth, including the increased acceptance and legalization of cannabis in various states in the United States and Canada. The growing acceptance of CBD among healthcare professionals is also boosting market growth. Many doctors and healthcare practitioners recommend CBD products as part of their treatment plans for certain conditions. This endorsement has significantly influenced public perception, increasing adoption of CBD Nutraceuticals. Additionally, the ease of access to CBD products has played a crucial role in market growth. CBD Nutraceuticals are available in various forms, including oils, tinctures, capsules, topicals, and edibles, easily purchased from dispensaries, online stores, and wellness shops. The convenience and availability of these products have attracted a broader customer base.
The Global CBD Nutraceuticals Market is Segmented as follows
- CBD Tincture
- Capsules & Soft Gel
- CBD-based Protein
- CBD Gummy
- Other Products
- Workout Supplement
- Edible & Fortified Food
- Other Applications
- Distribution Channel
- Retail Store
- E-Commerce Portal
- Other Channels
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global CBD Nutraceuticals Market is
Charlotte's Web (U.S.), Elixinol (Australia), Medical Marijuana Inc. (U.S.), CV Sciences Inc. (U.S.), Irwin Naturals (U.S.), Diamond CBD (U.S.), Green Roads (U.S.), Foria Wellness (U.S.), Garden of Life (U.S.), Bluebird Botanicals (U.S.)
The Global CBD Nutraceuticals Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis