Cannabidiol Market Evolving Trends and Opportunities in COVID-19 Pandemic
end by 2028
The global cannabidiol market size was valued at USD 2.8 billion in 2020 and is expected to expand
at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028. Due to its healing
properties, the demand for cannabidiol (CBD) for health and wellness purposes is high, which is the
major factor driving the market growth. In addition, the rising acceptance and use of products due to
government approvals is a major factor expected to boost production for CBD-infused products.
Increasing awareness of cannabidiol's therapeutic benefits has influenced a buyer to buy cannabidiol
products, regardless of their cost. As these have a greater profit margin, commercial retailers are now
focusing on selling cannabis-based products. Numerous health and wellness retailers are offering
CBD-based products, such as Rite Aid, CVS Health, and Walgreens Boots Alliance. In addition,
CVS Health decides to offer CBD topicals all over its 800 stores and Walgreens Boots Alliance is
selling CBD-containing topicals across 1500 of its stores in the U.S.
Key Player Mentioned:
Medical Marijuana, Inc.
NuLeaf Naturals, LLC
Isodiol International, Inc.
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Product Segment Analysis:
Regional Segment Analysis:
North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
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The market is very fragmented due to the presence of a large number of players. Various companies
are launching innovative products and expanding their presence in different geographies to sustain
their position in the market. Moreover, companies are entering into multiple partnerships for
increasing their distribution netw