The Latest Cannabidiol Industry Statistics Explained
The global Cannabidiol market size was estimated at USD 2.8 billion in 2020.
The statistic indicates that the global Cannabidiol (CBD) market was valued at USD 2.8 billion in the year 2020. This figure represents the total revenue generated by the sale of CBD products worldwide during that year. The estimation suggests that the CBD industry has been experiencing significant growth and demand for CBD products, likely driven by increasing awareness of its potential health benefits and expanding legalization of cannabis products in various regions. As the market size continues to grow, it signifies a promising opportunity for businesses operating in the CBD industry and underscores the increasing acceptance and adoption of CBD products among consumers globally.
The industry is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028.
This statistic signifies that the industry in question is projected to grow rapidly over the period from 2021 to 2028 at a compound annual growth rate (CAGR) of 21.2%. A CAGR of 21.2% suggests that the industry’s growth will be compounded each year, resulting in a geometric progression in expansion rather than linear growth. This data indicates a robust and sustained growth trend forecasted for the industry, reflecting favorable market conditions, increasing demand, technological advancements, or other factors driving growth within the sector. Overall, this projection highlights a significant opportunity for businesses and stakeholders operating within the industry to capitalize on the expected expansion and adapt their strategies accordingly to leverage this growth potential.
North America dominated the Cannabidiol market in 2020 with 37.3% revenue share.
The statistic ‘North America dominated the Cannabidiol market in 2020 with 37.3% revenue share’ indicates that North America, which includes countries such as the United States and Canada, had the largest market share in terms of revenue generated from Cannabidiol (CBD) products in the year 2020. This means that out of all the regions or countries involved in the CBD market, North America contributed the highest proportion of total revenue, accounting for 37.3% of the overall market. This dominance suggests that North America has a strong presence in the CBD industry, likely due to factors such as consumer demand, regulatory environment, and market maturity in the region.
Pharmaceutical grade CBD products led the market with a revenue share of 53% in 2020.
The statistic ‘Pharmaceutical grade CBD products led the market with a revenue share of 53% in 2020’ indicates that among all the different types of CBD products available in the market, those of pharmaceutical grade generated the highest revenue accounting for 53% of the total market share in 2020. This suggests that consumers had a greater demand for pharmaceutical grade CBD products, likely due to factors such as perceived quality, purity, and potentially stronger efficacy. This statistic highlights the dominance of pharmaceutical grade CBD products in the market and their importance in driving revenue within the CBD industry in 2020.
CBD products retail sales in the United States amounted to approximately 4.6 billion U.S. dollars in 2020.
The statistic indicates that the total sales value of CBD products in retail establishments in the United States was around 4.6 billion U.S. dollars in the year 2020. This figure represents the revenue generated from the sale of various CBD products such as oils, tinctures, edibles, topicals, and more. The substantial sales value highlights the growing popularity and demand for CBD products among consumers in the U.S., driven by factors such as increasing awareness of potential health benefits, relaxation of regulations surrounding CBD, and the expansion of product offerings by retailers. The statistic underscores the significant market size and economic impact of the CBD industry, reflecting a trend towards the mainstream acceptance and integration of CBD products into consumer lifestyles.
The U.S. CBD sales are projected to reach 16 billion U.S. dollars by 2025.
The statistic indicates that the sales of cannabidiol (CBD) products in the United States are expected to grow significantly over the next few years, with the projected sales reaching 16 billion U.S. dollars by 2025. This projection suggests a growing consumer interest in CBD products, which are derived from cannabis but do not contain the psychoactive compound THC. The rapid growth in the CBD market can be attributed to factors such as increasing legalization, changing consumer attitudes towards cannabis products, and the perceived health benefits associated with CBD. The statistic highlights the significant economic potential of the CBD industry and underscores the importance of ongoing research, regulation, and market analysis in this evolving sector.
The pet CBD market in U.S. projected to increase to $1.7 billion by 2028.
The statistic that the pet CBD market in the United States is projected to increase to $1.7 billion by 2028 indicates a substantial growth trend in the demand for CBD products specifically designed for pets. This projection suggests a significant increase in consumer interest and acceptance of CBD-infused products for pets over the coming years. Factors such as rising awareness of the potential benefits of CBD for pets, increased availability of pet-specific CBD products, and evolving regulations within the pet CBD market are likely to drive this growth. The projection also highlights a lucrative business opportunity for companies operating in the pet CBD industry to capitalize on the growing market demand and strategically position themselves to tap into this expanding market segment.
The hemp-derived CBD market is expected to reach $22.2 billion by 2025.
The statistic that the hemp-derived CBD market is projected to reach $22.2 billion by 2025 indicates a significant growth trajectory in the CBD industry. This forecast suggests a burgeoning consumer demand for hemp-derived CBD products, driven by factors such as increasing awareness of potential health benefits, relaxation of regulations surrounding CBD use, and a shift towards more natural and holistic wellness solutions. The projected market size implies a lucrative opportunity for businesses operating in the hemp-derived CBD space, as well as potential benefits for consumers seeking access to a wide range of CBD products for various purposes. Overall, this statistic underscores the expanding market potential and economic significance of the hemp-derived CBD industry in the coming years.
64 million Americans have tried CBD in the last 24 months.
The statistic that 64 million Americans have tried CBD in the last 24 months reflects a substantial level of interest and usage of cannabidiol (CBD) products within the U.S. population. This high number indicates a widespread familiarity with and acceptance of CBD as a potential health and wellness remedy, likely driven by factors such as increased availability of CBD products, changing regulations, and growing awareness of its potential benefits. The statistic suggests a significant market for CBD products and highlights the importance of further research into the efficacy and safety of CBD for various health conditions to meet the needs and interests of this large consumer base.
CBD market in Europe is expected to grow over 400% through 2023.
The statistic that the CBD market in Europe is expected to grow over 400% through 2023 signifies a substantial increase in market size and demand for CBD products in the region over the next few years. This significant growth projection reflects a rising interest and acceptance of CBD-based products for various health and wellness purposes among consumers in Europe. Factors contributing to this surge in demand may include changing regulations, increasing awareness of potential health benefits of CBD, and an expanding market for CBD-infused products in various industries. Businesses operating in the CBD market should be prepared to capitalize on this growth opportunity by expanding their product offerings and market presence to meet the escalating demand in the European market.
Cannabidiol gummies lead the U.S. edibles market, accounting for roughly 40% of the category.
The statistic indicates that cannabidiol (CBD) gummies are the dominant product within the edibles market in the United States, comprising approximately 40% of the total sales within this category. This suggests that CBD gummies have gained significant popularity and consumer demand, outperforming other types of edibles such as chocolates, baked goods, or beverages. The high market share held by CBD gummies signifies a strong consumer preference for this specific product, likely due to factors such as convenience, ease of consumption, discreteness, and the perceived health benefits associated with CBD. This statistic highlights the importance of CBD gummies as a key player in the U.S. edibles market and emphasizes the significance of this product in driving the overall growth and revenue within the edibles industry.
Around 16% of people in the UK reported using CBD products in the past.
The statistic stating that around 16% of people in the UK reported using CBD products in the past indicates the prevalence of CBD consumption among the population. This percentage suggests that there is a notable portion of individuals in the UK who have engaged with CBD products, which are gaining popularity for their potential health and wellness benefits. This statistic also implies a growing interest in alternative remedies and a shifting attitude towards natural products for various purposes. Further investigation into the demographics, motivations, and patterns of CBD usage among this population could provide valuable insights into consumer behavior and attitudes towards CBD products in the UK.
Chinese CBD market is forecasted to grow from $0.7 billion in 2020 to $15 billion in 2025.
The statistic indicates that the Chinese CBD market is projected to experience significant growth over the next five years, rising from a value of $0.7 billion in 2020 to an estimated $15 billion by 2025. This represents a substantial increase in market size and demand for CBD products in China. Factors driving this growth may include an increasing acceptance of CBD products among the Chinese population, expanding awareness of the potential health benefits associated with CBD, and the development of a more favorable regulatory environment. The forecasted growth suggests a promising opportunity for businesses operating in the CBD industry to capitalize on the expanding market and potentially tap into the lucrative Chinese market.
Currently around 1.9% of Japanese adults have tried CBD products.
The statistic suggests that a small proportion of Japanese adults, specifically around 1.9%, have experimented with using CBD products. This indicates a relatively low level of adoption of these products within the adult population in Japan. CBD products have gained attention for their potential therapeutic benefits, but the fact that only a minority of Japanese adults have tried them may suggest a lack of widespread acceptance or availability of these products in the market. Further research could explore the reasons behind this relatively low adoption rate and whether there are cultural, regulatory, or other factors influencing the use of CBD products among Japanese adults.
Latin American market for CBD was valued at $220 million in 2018.
The statistic “Latin American market for CBD was valued at $220 million in 2018” indicates the total monetary value of the market for cannabidiol (CBD) products in Latin America in the year 2018. This valuation represents the sum of all sales and transactions related to CBD products within the region during that specific year. The figure suggests that there was a notable demand for CBD products in Latin America at that time, likely driven by factors such as increasing awareness of the potential health benefits of CBD, changing regulatory environments, and consumer preferences towards natural and alternative wellness products. The statistic serves as a quantitative measure of the market size and economic significance of CBD within the Latin American region in 2018.
Medical cannabis holds a 54% market share in the European CBD market.
The statistic “Medical cannabis holds a 54% market share in the European CBD market” indicates that out of all the CBD products being consumed in Europe, medical cannabis products account for 54% of the market. This suggests that medical cannabis, which typically contains higher levels of the psychoactive compound THC along with CBD, is popular among consumers in Europe for its potential therapeutic benefits. The statistic implies that medical cannabis products are leading the market in terms of sales and consumption compared to other types of CBD products, such as hemp-derived CBD. This information could be relevant for stakeholders in the cannabis industry, policymakers, and researchers interested in understanding consumer preferences and trends in the European CBD market.
Nearly 80% of survey respondents in Latin America believe that CBD offers therapeutic benefits.
The statistic that nearly 80% of survey respondents in Latin America believe that CBD offers therapeutic benefits indicates a high level of agreement among the surveyed population regarding the potential health benefits of CBD. This suggests a prevalent positive perception of CBD’s therapeutic properties in the region. It is important to note that this statistic reflects beliefs and perceptions rather than scientific evidence or proven efficacy of CBD as a therapeutic agent. Further research and clinical studies are necessary to validate these beliefs and understand the actual impact of CBD on health outcomes in Latin America.
References
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