The global Cannabidiol (CBD) Market was valued at USD 395.2 Million in 2019 and is projected to reach USD 3,420.4 Million by 2027, expanding around a CAGR of 30.4% during the forecast period. Cannabidiol (CBD) is a naturally occurring chemical compound found in cannabis plants and accounts for 40% of plant extract. It is immiscible in water but miscible in organic solvents such as hexane or pentane. It is a colorless crystalline solid at room temperature and can be cyclized to Tetrahydrocannabinol (THC) under acidic conditions. CBD-based products such as oils, gums, supplements, and high concentration extracts are used for the treatment of many ailments such as anxiety, cognition, disturbed sleep, diabetes, and pain.
On the basis of product type, the global Cannabidiol (CBD) Market is segmented as isolate, full spectrum, and broad spectrum. Isolate segment is anticipated to expand at a CAGR of around 30.5% during the forecast period as it produces cleaner and healthier oil as compared to alcohol extraction. Full spectrum segment is estimated to hold approximately 33.1% share of the market in 2020 as contains a complete range of cannabinoid and terpene profiles and provides high level of effectiveness. The broad spectrum segment is estimated to hold around 28.9% share of the market in 2021 offer a full range of cannabinoid profiles as it does not contain THC.
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Based on source, the market is divided into hemp, marijuana. Hemp account for the major share as hemp derived CBD is obtained from industrial hemp plants, which are harvested for their seeds and fibers. CBD extracted from marijuana is consumed for its intoxicating properties. Correct products for consumers' needs can be found by experimenting with both by changing levels of THC and CBD.
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