DUBLIN, Aug. 2, 2023 /PRNewswire/ — The “CBD Nutraceuticals Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global CBD nutraceuticals market is experiencing significant growth, projected to increase from $6.15 billion in 2022 to $7.39 billion in 2023, representing a remarkable compound annual growth rate (CAGR) of 20.1%. The market is expected to continue expanding and reach $14.63 billion by 2027, with a CAGR of 18.6%.
CBD nutraceuticals are non-psychoactive compounds derived from cannabis plants, offering various health benefits in addition to essential nutritional value found in foods. These products contain B-complex vitamins such as Vitamin B6, B12, riboflavin, niacin, and thiamine.
The market offers different types of CBD nutraceutical products, including tinctures, capsules and soft gels, proteins, and gummies, which are distributed through various channels, including retail stores, pharmacies, e-commerce portals, and others.
The CBD nutraceuticals market’s growth is particularly notable in North America, while Asia-Pacific is expected to emerge as the fastest-growing region during the forecast period. The market report covers several countries, including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Product innovations are a key trend gaining popularity in the CBD nutraceuticals market. Major companies involved in the CBD nutraceuticals market are focused on innovating new products to strengthen and sustain their position in the market. For instance, in December 2021, Cibdol, a Netherlands-based CBD and wellness company, launched its exclusive CBD, or cannabidiol, Oil 2.0 range.
It contains greater levels of essential compounds such as CBC (cannabichromene), CBG (cannabigerol), CBN (cannabinol), and CBDa (cannabidiolic acid), along with high-purity CBD. A few drops of the new revolutionary CBD oil formula combat the physical and mental challenges related to modern living by managing the conditions linked to appetite, mood, pain, and sleep. Its improved recipe significantly boosts the levels of the smaller compounds, resulting in a more potent sensation. These components are regarded to not only complement each other better but also to have diverse effects on different receptors and biological systems.
Village Farms International Inc., a Canada-based producer of recreational cannabis, health, and wellness spaces, acquired Balanced Health Botanicals for $75 million. With this acquisition, Village Farms International Inc. strengthens its position in the US retail CBD market and provides cost synergies and operational efficiencies as it leverages its existing distribution channels and expertise in greenhouse cultivation to scale up its presence in the market. Balanced Health Botanicals is a US-based company producer of high-quality health and wellness products and operates various brands in the hemp-derived CBD market.
The increase in demand for plant-based food is expected to propel the growth of the CBD nutraceuticals market. Herbal supplements (plant-based dietary supplements) refer to dietary supplements obtained or prepared from the oils, roots, seeds, berries, or flowers of one or more herbs.
Herbal supplements are gaining popularity over conventional supplements as they are made from natural sources and don’t contain hazardous chemicals. CBD nutraceuticals are derived from cannabis plants and have health benefits in addition to the basic nutritional value found in foods. Thus, the increase in demand for plant-based dietary supplements boosts the sales of CBD nutraceuticals. The increase in demand for plant-based food is driving the growth of the CBD nutraceutical market
The CBD (cannabidiol) nutraceuticals market consists of sales of CBD oils, CDB creams for spread, CBD gels, CBD vapes, and CBD baked foods. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Major players in the cbd nutraceuticals market are
- CV Sciences Inc.
- Elixinol LLC
- Medterra CBD
- Charlotte’s Web
- Diamond CBD
- Garden of Life LLC
- Green Roads
- Isodiol International Inc.
- Medical Marijuana Inc.
- Cannavedic Pvt. Ltd.
- Canopy Growth Corporation
- Folium Biosciences LLC
- Gaia Botanicals LLC
- Kats Botanicals
- Medix CBD
Key Topics Covered:
1. Executive Summary
2. CBD Nutraceuticals Market Characteristics
3. CBD Nutraceuticals Market Trends And Strategies
4. CBD Nutraceuticals Market – Macro Economic Scenario
4.1. COVID-19 Impact On CBD Nutraceuticals Market
4.2. Ukraine-Russia War Impact On CBD Nutraceuticals Market
4.3. Impact Of High Inflation On CBD Nutraceuticals Market
5. CBD Nutraceuticals Market Size And Growth
5.1. Global CBD Nutraceuticals Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global CBD Nutraceuticals Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. CBD Nutraceuticals Market Segmentation
6.1. Global CBD Nutraceuticals Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- CBD Tinctures
- Capsules and Soft Gels
- CBD-Based Protein
- CBD Gummies
6.2. Global CBD Nutraceuticals Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Retail Stores
- Pharmacies
- E-Commerce Portals
- Other Distribution Channels
6.3. Global CBD Nutraceuticals Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Wellness
- Workout Supplements
- Edibles And Fortified Foods
7. CBD Nutraceuticals Market Regional And Country Analysis
7.1. Global CBD Nutraceuticals Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global CBD Nutraceuticals Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/q7jct
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