What Factors Propelled The Growth Of The CBD Nutraceuticals Market In The Past?
The cbd nutraceuticals market has seen considerable growth due to a variety of factors.
•In recent times, there has been a swift expansion in the size of the CBD nutraceuticals market. The market, standing at $8.76 billion in 2024, is projected to escalate to $10.47 billion in 2025, presenting a compound annual growth rate (CAGR) of 19.5%.
The notable growth during the historical period is due to factors such as product diversification, improvement in extraction techniques, acceptance and endorsement by healthcare experts, growth in retail outlets, and the successful incorporation into the consumers' daily routines.
What Is The Projected Growth And Market Size For The CBD Nutraceuticals Sector?
The cbd nutraceuticals market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to witness a swift expansion in the coming years, the CBD nutraceuticals market size is projected to reach "$20.37 billion in 2029, with a compound annual growth rate (CAGR) of 18.1%.
Factors contributing to this buoyant forecast period growth include the incorporation of CBD in mainstream wellness initiatives, rigorous quality control processes, evolving perspectives in healthcare, sustained research and development, and portfolio diversification. Key trends predicted for the forecast period encompass changes in legalization and regulations, increased consumer awareness and education, a surge in health and wellness consciousness, broadening product variety, and iterative research and development.
Which Factors Are Boosting Growth In The CBD Nutraceuticals Market?
The surge in demand for plant-based nourishment is predicted to stimulate the expansion of the CBD nutraceuticals market. Herbal supplements, which are sourced from oils, roots, seeds, berries, or flowers of various herbs, fall under the category of plant-based dietary supplements. These supplements are increasingly favored due to their natural source and lack of harmful chemicals, putting them a step above conventional supplements. CBD nutraceuticals, which are extracted from cannabis plants, provide health benefits alongside the basic nutritional value present in food items. As such, the escalating demand for plant-based dietary supplements is enhancing the sales of CBD nutraceuticals. For example, in April 2023, data from the Good Food Institute, a non-profit organization based in the United States, indicated that global retail sales of plant-based meat and seafood in 2022 totaled $6.1 billion. This reveals an 8% growth in revenue and a 5% rise in weight. Thus, the burgeoning demand for plant-based food is propelling the CBD nutraceutical market's growth.
What Key Areas Define The Segmentation Of The Global CBD Nutraceuticals Market?
The CBD nutraceuticals market covered in this report is segmented –
1) By Product: CBD Tinctures, Capsules and Soft Gels, CBD-Based Protein, CBD Gummies
2) By Distribution Channel: Retail Stores, Pharmacies, E-Commerce Portals, Other Distribution Channels
3) By Application: Wellness, Workout Supplements, Edibles And Fortified Foods
Subsegments:
1) By CBD Tinctures: Full-Spectrum CBD Tinctures, Broad-Spectrum CBD Tinctures, Isolate CBD Tinctures
2) By Capsules And Soft Gels: CBD Oil Capsules, CBD Soft Gel Capsules, CBD Hemp Extract Capsules
3) By CBD-Based Protein: CBD Protein Powders, CBD Protein Bars, CBD Protein Supplements
4) By CBD Gummies: Regular CBD Gummies, Vegan CBD Gummies, Sugar-Free CBD Gummies
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How Are Emerging Trends Reshaping The Dynamics Of The CBD Nutraceuticals Market?
Product innovation is a growing trend in the CBD nutraceutical market that is gaining momentum. To secure and maintain their market position, key players in the CBD nutraceutical industry are focusing on the development of new products. In case in point is Curaleaf Holdings Inc., a US-based cannabis company, which introduced JAMS Remix in August 2024. This new product line includes an array of taste-rich jellies tailored to meet the varying needs of cannabis consumers. By leveraging fast-acting onset technology, these jellies come with unique multi-cannabinoid ratios and functional ingredients to render targeted effects at different times of the day. The product line encompasses three types including Shineapple, a mix of THC, THCV, and CBG designed to enhance motivation; Sootheberry, a concoction of THC, CBD, and L-Theanine for relaxation; and Lullaberry, intended for evening use with THC, CBN, CBD, and melatonin for fostering a sense of tranquility.
Who Are the Key Players in the CBD Nutraceuticals Market?
Major companies operating in the CBD nutraceuticals market include:
• CV Sciences Inc.
• Elixinol LLC
• Medterra CBD
• Charlotte’s Web Holdings Inc.
• Diamond CBD Inc.
• 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 Ltd.
• Medix CBD
• Valens Company
• Aphria Inc.
• Hemp Bombs
• Cronos Group Inc.
• GW Pharmaceuticals Group plc
• Harvest One Cannabis Inc.
• The Supreme Cannabis Company
• Organigram Holdings Inc.
• HEXO Corp.
• Aleafia Health Inc.
• MediPharm Labs Corp.
• Joy Organics LLC
• Shaman Botanicals LLC
• Irwin Naturals Inc.
• HempFusion Wellness Inc.
What Is The Most Dominant Region In The CBD Nutraceuticals Market?
North America was the largest region in the CBD nutraceuticals market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global CBD nutraceuticals market report forecast period. The regions covered in the CBD nutraceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
