The global cannabidiol (CBD) nutraceutical sector is poised for significant expansion. Recent forecasts from Research and Markets indicate that the market could be valued at $29.1 billion by 2030. This forecast reflects significant growth from the market's current valuation of $9.7 billion in 2024.
Growth drivers highlighted in this report include increasing consumer demand for plant-based foods, growing awareness about the health benefits of CBD dietary supplements, and the introduction of innovative products. . Additionally, the development of capsule and softgel forms of CBD is expected to drive the market forward, with continued advances making these forms even more accessible.
North America takes the lead
North America continues to dominate the global market for CBD dietary supplements, spurred by the 2018 Farm Bill that legalized hemp cultivation and processing of hemp-derived products in the United States. Consumer demand for the benefits of CBD, strong participation from major players, and an aging population are solidifying North America's position as a key driver of the market.
Asia-Pacific region poised for fastest growth
While North America is leading the CBD dietary supplements sector, Asia Pacific is expected to witness the fastest growth during the forecast period. Key factors include the entry of some of the world's largest companies into the region, an increase in lifestyle-related health issues, and increased awareness of healthier eating habits.
Oils and Separates: Market Subsector Trends
Among the various CBD dietary supplement formats, CBD oil currently commands the largest market share due to its versatility across applications such as capsules, tinctures, and cosmetics. However, CBD isolates are expected to grow the fastest due to their high purity and suitability for formulations that require precise CBD concentrations.
CBD tinctures remain in high demand for their use in treating a wide range of health conditions, including insomnia, cancer cell growth, seizures, and chronic pain. However, the report notes that CBD capsules and softgels are projected to grow at the fastest pace until 2030 due to their convenience and travel-friendly nature.
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