The North American Cannabidiol Market size is expected to grow at a remarkable CAGR of 36.9% between 2021 to 2026 and worth USD 2.01 Billion by the end of 2026. Steady and progressive growth from countries like U.S. and Canada has helped North America account for most of the share in the global market in 2020.
One of the key factors driving the market's growth in the region is the rising awareness of cannabidiol's health and wellness benefits. CBD nutraceuticals are becoming increasingly popular because they contain multiple amino acids, making them effective protein supplements. In addition, growing applications in medical cannabis and usage and its acceptance among the people in developed countries such as the United States and Canada is projected to increase the growth of the North America Cannabidiol Market. Cannabidiol is the most extensively utilized cannabinoid for medicinal purposes due to its absence of psychoactive effects. Consumers are looking for more natural and effective supplements and medicines that will meet all of their nutritional needs, which will help these products gain traction. However, increasing the legalization of cannabis across the North American region is more likely to augment the North American CBD Oil Market growth. Plant-based ingredients are becoming more popular among consumers, particularly in dietary supplements and sports nutrition.
Cannabidiol oil is utilized in various medicinal applications, including anxiety and depression therapy, stress reduction, diabetes prevention, pain reduction, cancer symptom reduction, and inflammation alleviation. Due to a rising number of people promoting the advantages of cannabidiol, it has become the newest consumer craze. Apart from the pharmaceutical and food and beverage sectors, cannabidiol is extensively accepted in the personal and skin care industries. The North America CBD Oil market is expected to develop rapidly over the projected period, owing to the increased acceptance of CBD-based products to cure diseases. Owing to the cannabidiol's outstanding restorative, anti-aging, and anti-acne characteristics, the popularity of cannabidiol-based skincare products is projected to surge. Many firms use CBD oils to treat a variety of skin disorders and decrease inflammation.
The complex regulatory structure for the usage of cannabis is one of the major factors restraining the growth of the North American Cannabidiol Market. However, Companies offering cannabis and cannabis-infused products must comply with different regulatory guidelines, which is expected to be the growth restraining factor for the market growth.
U.S. Cannabidiol Market:
The U.S. Cannabidiol market size is forecasted to grow at a remarkable CAGR of 39.48% between 2021 to 2026. The medical benefits of cannabidiol in treating various diseases such as Alzheimer's and depression are majorly accelerating the U.S. CBD market. Additionally, Y-O-Y growth in the aging population in the United States and growing healthcare expenditure further favor the U.S CBD Oil market. to grow. However, high costs associated with CBD products are a significant challenge to the market growth. Companies like Aphria Inc., Aurora Cannabis Inc., Canopy Growth Corporation, Charlotte's Web Holdings Inc., CV Sciences Inc., and Medical Marijuana, Inc. are expected to account for most of the U.S. cannabidiol market share the forecast period.
COVID 19 impact on the North America Cannabidiol Market:
COVID 19 cases are surging, and there is no sign of slowing down until the vaccine is supplied to all people worldwide. Many researchers are developing a drug or vaccine and trying various resources to know which one will be more effective. As of now, government organizations are approving some drugs only for emergency case-patients. To lower the risk of the insidious virus impact, medicinal cannabidiol oil plays an effective role in treating the mild symptoms of the COVID 19. In fact, CBD oil-based medicines are lowering the severity of the symptoms in the patients. For 80% of the population, the coronavirus shows mild symptoms like fever, cold, and cough, but for some people, the severity is worst. Due to the anti-inflammatory properties of CBD oil, it has a high potential to treat the symptoms of COVID 19. Hence, the demand for the North American Cannabidiol Market has grown faster during this pandemic.
This research report on the North America Cannabidiol Market has been segmented & sub-segmented into the following categories:
By Type:
By Distribution Channel:
By End Users:
By Country:
Geographically, The cannabidiol market in North America held the dominant shares of the market for the past few years and is expected to grow at a higher rate in the forecast period. Increasing investments in the development of drugs or vaccines in healthcare are fueling the market demand in this region. The rise in the demand for effective product launches from the public greatly influences the market's growth rate.
The U.S. Cannabidiol Market is the highest contributing country for the market. The rise in the consumption of cannabidiol oil for various industries is likely to promote the market's demand. The easy availability of CBD oil-based products online is promoting the growth rate of the market. The U.S. CBD Oil market growth is attributed to the Consumer preference for cannabidiol-based goods expanding, supporting government regulations, the existence of important hemp-growing firms, and suitable climatic conditions. The increased use of cannabidiol-based products owing to the availability of non-psychoactive components is driving market expansion. Furthermore, favorable government regulations and economic development that encourage cannabidiol-based products drive a rising market in the U.S.
The Canadian Cannabidiol Market is next to the US in dominating the shares of the North American Cannabidiol Market. Increasing awareness and growing funds in healthcare by private and public sectors are outraging the market demand in this country. Besides, the increasing prevalence of CBD oil from the food industry elevates the demand of the market.
Companies such as Pharmahemp d.o.o, ENDOCA, NuLeaf Naturals LLC, Folium Biosciences, Elixinol, Cannoid LLC, Medical Marijuana Inc., and Isodiol International Inc. dominate North America Cannabidiol Market
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 CBD Oil Market, By Source Type
6.1.1 Marijuana
6.1.2 Hemp
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 CBD Oil Market, By Distribution Channel
6.2.1 B2C
6.2.2 B2B
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 CBD Oil Market, By End-Use
6.3.1 Personal Care & Cosmetics
6.3.2 Food & Beverages
6.3.3 Pharmaceuticals
6.3.4 Market Size Estimations & Forecasts (2019-2024)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 CBD Oil Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Source Type
7.2.3 By Distribution Channel
7.2.4 By End-Use
8. Key Player Analysis
8.1 Pharmahemp d.o.o
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 ENDOCA
8.3 NuLeaf Naturals LLC
8.4 Folium Biosciences
8.5 Elixinol
8.6 Cannoid LLC
8.7 Medical Marijuana Inc
8.8 Isodiol International Inc
9. Market Outlook & Investment Opportunities
11. Appendix
List of Tables
List of Figures
Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and identify the regions that are still untapped.
The segment-level analysis in terms of Application and region and market size forecasts and estimations to detect key areas of industry growth in detail.
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development.
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis, and analyst overview to study and sustain the market environment.
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies, and recent developments in the market by the major companies.
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions.
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
North America Cannabidiol Market, By Source Type, From 2021 to 2026 (USD Billion)
North America Marijuana Market, By Region, From 2021 to 2026 (USD Billion)
North America Hemp Market, By Region, From 2021 to 2026 (USD Billion)
North America Cannabidiol Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
North America B2C Market, By Region, From 2021 to 2026 (USD Billion)
North America B2B Market, By Region, From 2021 to 2026 (USD Billion)
North America Cannabidiol Market, By End-Use, From 2021 to 2026 (USD Billion)
North America Personal Care & Cosmetics Market, By Region, From 2021 to 2026 (USD Billion)
North America Food & Beverages Market, By Region, From 2021 to 2026 (USD Billion)
North America Pharmaceuticals Market, By Region, From 2021 to 2026 (USD Billion)
United States Cannabidiol Market, By Source Type, From 2021 to 2026 (USD Billion)
United States Cannabidiol Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
United States Cannabidiol Market, By End-Use, From 2021 to 2026 (USD Billion)
Canada Cannabidiol Market, By Source Type, From 2021 to 2026 (USD Billion)
Canada Cannabidiol Market, By Distribution Channel, From 2021 to 2026 (USD Billion)
Canada Cannabidiol Market, By End-Use, From 2021 to 2026 (USD Billion)
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