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CBD-infused Products Market: Meticulous Research® Uncovers the Reasons for Market Growth at a CAGR of 45.6% to reach $216.8 Billion by 2028

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CBD-infused Products Market: Meticulous Research® Uncovers the Reasons for Market Growth at a CAGR of 45.6% to reach $216.8 Billion by 2028

August 13
13:31 2021
The CBD-infused Products Market is expected to reach a value of $216.8 billion by 2028, at a CAGR of 45.6% during the forecast period 2021-2028.
CBD-infused Products Market by Source, Type (Confectionery, Bakery, Beverages, Coffee & Tea, Oil & Extracts, Personal Care Products, and Supplements), and Distribution Channel (Offline Store and Online Store) — Global Forecast to 2028

Cannabis comprises various compounds known as cannabinoids, consisting of Tetrahydrocannabinol (THC) that induce psychoactive effects. CBD-infused products are used to treat anxiety, chronic pain, sleep ailments, and mood disorders. Another type of cannabis plant known as hemp is typically grown for its fiber. Cannabis extracted from hemp does not contain more than 0.3% of THC. Hemp is largely used in industrial applications, including paper manufacturing, clothing, biofuel, food & beverage products, oil, and other types of THC-free CBD products.

In its latest publication on the CBD-infused products market, Meticulous Research states that the market will grow at a CAGR of 45.6% from 2021 to 2028 to reach $216.8 billion by 2028.

The growth of this market is backed by the rising demand and increasing legalization of cannabis, growing application of cannabis in cancer, and health benefits offered by cannabis-infused products. The usage of cannabis in pet food and increasing demand for cannabis-infused drinks provide significant growth opportunities for CBD-infused product manufacturers in the coming years.

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To provide efficient analysis, Meticulous Research® has segmented this market based on source (hemp and marijuana), type (CBD-edibles {confectionery products, bakery products, beverages [non-alcoholic beverages and alcoholic beverages], coffee & tea products, and other products}, CBD-oil and extracts, CBD-personal care products {skincare products, haircare products, deodorants and perfumes, and other personal care products}, CBD-smoke & vape products, CBD-supplements, CBD-pet products, and other CBD-products), distribution channel (offline store {dispensary, pharmacies, natural health foods store, and other stores} and online store), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Based on source, the CBD-infused products market is mainly segmented into hemp and marijuana. The hemp segment accounted for the largest share of the CBD-infused products market in 2020. The large share of this segment is mainly attributed to its lower THC concentrations, which decrease or eliminate its psychoactive effects and increase hemp-derived products for various medical applications. Also, its anti-inflammatory, anti-aging, antioxidant properties, and high effectiveness of CBD extracted from hemp is a key factor for the large share of this segment. However, it is also expected to witness significant growth, as some governments regulate the concentration of THC and permit only hemp with an especially low THC content.

Based on type, the CBD-infused products market is segmented into CBD-edibles, CBD-oil and extracts, CBD-personal care products, CBD-smoke & vape products, CBD-supplements, CBD-pet products, and other CBD-products. The CBD-edibles segment accounted for the largest share of the CBD-infused products market in 2020. The large share of this segment is mainly attributed to increasing demand for food infused by cannabis such as THC and CBD, rising adoption of CBD in different verticals such as confectionery, bakery, etc., and cannabis consumer are looking for alternatives to smoking cannabis. Also, increasing use of CBD-edibles to treat psychiatric disorders, neurological disorders, and cancer, along with pain control, is expected to drive the demand for CBD-edibles. However, it is also expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing social acceptance of CBD-infused edibles.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/cbd-infused-products-market-5184

Based on type, the CBD-infused beverages market is segmented into non-alcoholic beverages and alcoholic beverages. The non-alcoholic beverages segment accounted for the largest share of the CBD-infused beverages market in 2020. The large share of this segment is mainly attributed to the increasing product demand from newcomers and rising demand for wellness drinks among consumers.

Based on type, the CBD-infused personal care products market is segmented into skincare products, haircare products, deodorants and perfumes, and other personal care products. The skincare products segment accounted for the largest share of the CBD-infused personal care products market in 2020. The large share of this segment is mainly attributed to its antioxidant property, which reduces the pain of inflammatory skin and helps prevent aging signs problems.

Based on distribution channel, the CBD-infused products market is segmented into offline and online stores. The offline stores segment accounted for the largest share of the CBD-infused products market in 2020. The large share of this segment is mainly attributed to the perception of purchasing authentic and good quality products. However, the online store segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the ease of convenience and rapid penetration of CBD-infused products on E-commerce platforms. Also, the availability of CBD-infused drinks on leading online platforms is playing a crucial role in the CBD-infused products market.

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Geographic Review:

Geographically, the North American region accounted for the largest share of the CBD-infused products market in 2020. The large share of this region is primarily attributed to the ease of accessibility, technological advancements in CBD-infused products production and processing, a large base of CBD consumers, changing perceptions towards CBD consumption for both medical and recreational purposes, growing awareness regarding various medical benefits of CBD among users, and increasing investments from leading players. The U.S. is expected to dominate the North American market through 2027, mainly due to the increasing R&D expenditures on CBD and rising consumer spending on CBD-infused products.

Key Players

The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence for some of the key players operating in this market, including Canopy Growth Corporation (Canada), Aphria, Inc. (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.), G&Juice (U.S.), Honeydrop Beverages Inc. (U.S.), and Elixinol Global Limited (Australia).

Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here-https://www.meticulousresearch.com/custom-research

Key Questions Answered in the Report-

  • Which are the high growth market segments in terms of source, type, distribution channel, and geography?
  • What is the historical market size for CBD-infused products across the globe?
  • What are the market forecasts and estimates for the period 2021-2028?
  • What are the major drivers, restraints, opportunities, and challenges in the CBD-infused products market?
  • Who are the major players in the market, and what are their market shares?
  • Who are the major players in various countries, and what are their market shares?
  • How is the competitive landscape for the CBD-infused products market?
  • What are the recent developments in the CBD-infused products market?
  • What are the different strategies adopted by the major players in the market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the CBD-infused products market, and how do they compete with other players?

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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