CBD-infused Products Market is segmented by Source, Type (Confectionery, Bakery, Beverages, Coffee & Tea, Oil & Extracts, Personal Care Products, and Supplements), and Distribution Channel (Offline Store and Online Store)
Cannabidiol (CBD)-infused products are from marijuana or hemp plants. These infused products are commonly used for medical purposes prescribed to calm nerves and help with patients’ anxiety. Aside from it’s medical properties, CBD-infused products are demanded for its recreational properties as well as used in skin care.
The CBD-infused Products Market is projected to reach a market size value of $216.8 billion by 2031, at 45.6% CAGR during the forecast period of 2022-2032.
COVID-19 Impact on the CBD-infused Products Market
The widespread of the virus is a great challenge to almost all of the countries because many sectors will have to compromise and deal with the negative impact on their sales.. Many industries will have to adapt and adopt to the changes that will be imposed upon them by their governments. A massive set back on the growth of the CBD-infused products market is the disruption of supply chain since manufacturing and distribution by key players or companies are being limited, if not, controlled by governments by imposing lock downs and halting travels across borders. The challenge lies in the disruption in raw materials supply because it is negatively affecting manufacturers since travel, transport of raw materials, and non-essential trade has been put off in many countries. This in turn affected production, causing fewer volume of product sales. CBD suppliers have also experienced backlash because imports and exports in almost all countries have been restricted, if not limited.
On a positive note, CBD-infused products created a great impact on the market because ever since public’s mobility has been restricted, if not, limited, people staying at their homes consume CBD-infused products to ease their restlessness and anxieties.
There are key factors pushing forth the growth of this market is the rising demand for cannabis products, consumers’ demand for the legalization of it, increasing ways of applying cannabis in treatment of cancer and the various health benefits offered by the products. Another growth driver is the innovation of incorporating CBD in various food and beverages.
Challenge in the Market of CBD-infused Products
The common restraint in this market is that, CBD-infused products are not legalized in many countries or regions. With this event, manufacturers and distributors are challenged on how to sustain supply in different regions when legalization is a problem. Another restraint is the issue on CBD-infused products being abused and trafficked. This is the main reason why legalization among countries are being halted.
Key Findings in the CBD-infused Products Market Study
Hemp segment is projected to have the largest share accounted for in the market in 2022. This is due to its lower THC concentrations which lessens psychoactive effects, the high demand for hemp-derived products used in medical industry. What also makes this market demanding is that the products have anti-inflammatory, anti-aging, and antioxidant properties.
In terms of type, CBD edibles segment is projected to have the largest share in the market accounted for in 2022. The large share can be attributed to factors such as, increasing popularity of recreational cannabis, increase in the demand of CBD flavored foods, numerous applications of CBD in different areas such as baking and confectionery. Moreover, consumers are finding other, unique, alternative ways of using cannabis other than smoking it.
Offline store segment is projected to have the largest share in the market as well. Growth driver of this segment is the demand for purchasing good quality and authentic products. The online segment however is projected to grow at the highest CAGR during the forecast period of 2022-2032.
North America: Fastest Growing Regional Market
North America however is projected to have the largest share in the market in 2022 followed by Europe, Latin America, the Middle East & Africa, and Asia-Pacific. The increase in growth is attributed to the technological developments in the CBD industry, ease of accessibility, a wide support from the CBD consumers, a positive shift of perception to utilizing CBD-infused products for medical and recreational purposes.
Share and Competition
Canopy Growth Corporation (Canada), Aurora Cannabis Inc. (Canada), Docklight Brands, Inc. (U.S.), Maricann Inc. (Canada), Tilray, Inc. (Canada), GW Pharmaceuticals plc (U.K.), VIVO Cannabis Inc. (Canada), Cresco Labs, Inc. (U.S.), Tauriga Sciences, Inc. (U.S.), MariMed Inc. (U.S.), CV Sciences, Inc. (U.S.), Puration, Inc. (U.S.), Kona Gold Solutions Inc. (U.S.), Bhang Inc. (U.S.), DT Brands & Co (N.I.) Ltd. (U.S.), Forest Coffee Trading Co. (U.S.), L8 Life, Inc. (U.S.), Honeydrop Beverages Inc. (U.S.), and Elixinol Global Limited (Australia) are the leading key players in the CBD-infused products market.
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• Estimation/projections/forecast for revenue and unit sales (2022 – 2032)
• Data breakdown for every market segment (2022 – 2032)
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• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Source Analysis (Revenue, USD Million, 2022 - 2032)
Type Analysis (Revenue, USD Million, 2022 - 2032)
• Confectionery Products
• Bakery Products
• Coffee & Tea Products
• Other Edible Products
• Oil & Extracts
• Personal Care Products
• Skincare Products
• Haircare Products
• Deodorants and Perfumes
• Other Personal Care Products
• Smoke & Vape Products
• Other CBD Products
Distribution Channel Analysis (Revenue, USD Million, 2022 - 2032)
• Offline Store
• Natural Health Foods Store
• Other Stores
• Online Stores
Region Analysis (Revenue, USD Million, 2022 – 2032)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States CBD-infused Products Industry Research Report
• Europe CBD-infused Products Industry Research Report
• Asia Pacific CBD-infused Products Industry Research Report
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