Cannabidiol or CBD is a chemical compound derived from hemp plant. CBD is known for its therapeutic and remedial properties without psychoactive effects. Consumer health products containing CBD are increasingly being used for treating anxiety, depression and pain relief. CBD infused products such as tinctures, capsules, topicals, and edibles are becoming popular for managing stress, insomnia and inflammation.

The global cannabidiol consumer health market is estimated to be valued at US$ 19 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the growth of cannabidiol consumer health market is the increasing awareness regarding therapeutic applications of CBD for various health issues. Research studies show promising results of CBD for treating neurological disorders, cancer-related symptoms, cardiovascular diseases, acne and other skin problems. This is encouraging more people to use CBD infused consumer products for therapeutic benefits. Furthermore, legalization of medical cannabis in many countries is also fueling the demand. However, uncertain regulatory framework and restrictions in some countries still limit the growth of cannabidiol market.

SWOT Analysis

Strength: The Global Cannabidiol Consumer Health Market Size` has strong growth potential due to increasing awareness about health benefits of cannabidiol. Many consumers are using cannabidiol products to relief from stress, pain and other health issues. Ease of availability of cannabidiol products online and in stores is driving the market growth.

Weakness: Lack of clinical research data is limiting the widespread adoption of cannabidiol products. Different laws and regulations across countries related to the use of cannabidiol can hamper the market growth.

Opportunity: Increasing investment in research and development of cannabidiol products will create new growth opportunities for key players. Growing acceptance of cannabidiol in medical and wellness industry will boost the market demand over the forecast period.

Threats: Stringent regulations associated with the production and marketing of cannabidiol products poses major threats to the market. Privacy issues related to purchasing cannabidiol products can negatively impact the consumer health cannabidiol market.

Key Takeaways:

The global Cannabidiol Consumer Health market is expected to witness high growth. The market size is estimated to reach US$ 19 Bn in 2023 and expected to surpass US$ 30 Bn by 2030, growing at a CAGR of 7.5% during the forecast period. Rising consumer preference for natural ingredients based health and wellness products is majorly driving the market.

North America represents the largest and fastest growing market for cannabidiol consumer health globally. Favorable regulatory environment and growing consumer awareness about benefits of cannabidiol are major factors contributing to the regional market growth. The market in North America is estimated to reach around US$ 12 Bn by 2030. Europe is also considered as a prominent market owing to increasing preference for cannabidiol products among consumers in countries like Germany, United Kingdom and Italy.

Key players operating in the Cannabidiol Consumer Health market are Murata Manufacturing Co., Ltd., TDK Corporation, Qorvo, Inc., Broadcom Inc., Skyworks Solutions, Inc., AVX Corporation, Johanson Technology, Inc., Anatech Electronics, Inc., API Technologies Corp., Pole/Zero Corporation, Corry Micronics

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