It is expected that U.S. consumer sales of cannabidiol (CBD) will reach around 1.8 billion U.S. dollars by 2022, which would represent a significant increase from around half a billion U.S. dollars in 2018. Following a similar trajectory, sales of legal cannabis in the U.S. are projected to hit 23 billion U.S. dollars in 2025.

What are the benefits of CBD? Cannabidiol is a naturally occurring substance found in cannabis. However, CBD does not cause any of the psychoactive effects that come from another active ingredient found in the plant: tetrahydrocannabinol (THC). The health benefits of the plant extract continue to be examined, and the World Health Organization states that CBD exhibits no effects indicative of any abuse or dependence potential. The CBD retail industry is already flourishing, with a wide range of products marketed as treatments for chronic pain, anxiety, and depression.

CBD in the USA: sales by state With estimated sales of around 730 million U.S. dollars, California had the biggest CBD market in the United States in 2019. Regulations concerning the use of cannabidiols are yet to be clearly defined, and state authorities are having to answer numerous questions about its legality. It is, however, currently illegal under U.S. law to market CBD by adding it to a food or labeling it as a dietary supplement. As of March 2020, the FDA has approved only one CBD product: Epidiolex. The prescription drug is used to treat two rare and severe forms of epilepsy.

CBD Oil Market size was valued at 24.99 USD Billion in 2024 and is projected to reach 281.52 USD Billion by 2031, growing at a CAGR of 39% from 2024 to 2031.

Global CBD Oil Market Drivers

The market drivers for the CBD Oil Market can be influenced by various factors. These may include:

Increasing Acceptance and Awareness Among Consumers: Demand is being driven by consumers’ growing awareness of the potential health advantages of CBD oil, including its usage in treating a variety of ailments like chronic pain, anxiety, insomnia, and inflammation. The potential medicinal benefits of CBD oil are becoming more widely recognized as more individuals turn to natural and alternative therapies.
Legalization and Regulatory Reforms: The legalization of cannabis and CBD products derived from hemp in a number of jurisdictions, along with beneficial regulatory changes, has created new market opportunities. The market for CBD oil has expanded thanks to changes in legislation, such as the U.S. Farm Bill that was passed in 2018 and authorized hemp farming while removing CBD derived from hemp from the Controlled Substances Act.
Growing Product Accessibility and Availability: CBD oil products are now widely available as tinctures, capsules, topicals, and edibles, among other forms. Growing consumer access to CBD oil has been facilitated by expanded distribution channels, such as dispensaries, pharmacies, specialty shops, and internet sellers.
Increasing Usage Application: CBD oil is finding more and more uses in skincare, cosmetics, pet care, food, and drink, among other areas outside wellness and health. The market reach and attractiveness of CBD oil have grown as a result of the product line’s diversification, as well as the introduction of cutting-edge formulations and distribution techniques.

California was the leading market for CBD (cannabidiol) in the United States in 2019 with estimated sales of 730 million U.S. dollars. Rounding out the top three were Florida and New York with about 290 million and 215 million in sales respectively.

Cannabidiol

Cannabidiol, also known as CBD, is a substance that can be found in marijuana or hemp, which is a specific strain of the Cannabis sativa plant. Given CBD’s relaxing qualities, it is used to create various products, which are sold in many types of stores across the United States. Some of 2019’s best-selling CBD products sold in U.S. convenience stores included CBD vitamins and sleeping remedies.

CBD products for pets

CBD products come in various forms, such as supplements, beauty products, food, and drinks. While it is not the most common use for the substance, in some instances, CBD comes in the form of pet products. In 2019, the most common types of CBD pet products in the United States were treats and chewies. Approximately 50 percent of pet owners in the country had bought such CBD products for their pet(s) that year.

Sales of CBD products in the United States stood at 4.17 billion U.S. dollars in 2022. By 2026, this market is expected to grow to 4.23 billion dollars in value.

According to Cognitive Market Research, the global CBD Beverages Market size is USD 4518.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 24.20% from 2024 to 2031.

North America held the major market of more than 40 % of the global revenue with a market size of USD 1807.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD USD 1355.46 million. 
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1039.19 million in 2024 and will grow at a compound annual growth rate (CAGR) of 26.2% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 14,621.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.6% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 4518.2 Million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.9% from 2024 to 2031.
The hemp-derived products had the largest share in the global CBD Beverages Market by application.

Market Dynamics of CBD Beverages Market

Key Drivers of CBD Beverages Market

Surging Interest in Cannabis: Elevated Demand for CBD-Infused Beverages as Global Acceptance Grows

The global landscape is witnessing a substantial rise in the popularity of cannabis, both as a medicinal product and a recreational substance, fostering an increasing demand for beverages enriched with cannabidiol (CBD). The escalating legalization of cannabis for medicinal and recreational use worldwide has become a pivotal driver behind this trend. Consumers are gravitating towards CBD-infused drinks due to a heightened understanding of the diverse benefits associated with cannabidiol, including stress alleviation, inflammation reduction, and pain management.

This evolving acceptance of cannabis for its dual role as a therapeutic aid and recreational indulgence is reshaping consumer preferences and steering the global market towards innovative CBD-infused beverage offerings. The surge in popularity is not confined to geographical boundaries, as international borders increasingly accommodate cannabis for various applications. As a result, the market is experiencing notable expansion, driven by the confluence of changing regulatory landscapes and a growing awareness of the multifaceted advantages that CBD can offer in enhancing overall well-being.

Growing Demand for CBD Beverages Amid Rising Neurological and Mental Health Challenges

The spike in neurological and mental health disorders has significantly increased the demand for CBD-infused beverages. Changing consumer preferences, especially in the realm of beverages, are driven by the escalating prevalence of respiratory issues associated with traditional cannabis smoking. The popularity of beverages incorporating cannabidiol (CBD) is further fueled by the rising incidence of neurological and mental illnesses. This surge can be attributed to the non-psychotropic properties of CBD, which play a pivotal role in minimizing the risk of drug-induced experiences for consumers.

The market for CBD-infused beverages experiences positive revenue growth, primarily influenced by the augmented willingness of potential buyers to invest in legal CBD drinks. This trend underscores a transformative shift in consumer mindset, signifying a growing acceptance and eagerness to allocate resources to legal and regulated CBD-infused beverages. The evolving landscape suggests a broader embrace of CBD products as consumers increasingly recognize and prioritize the benefits of these non-intoxicating compounds for both physical and mental well-being.

Restraint Factors Of CBD Beverages Market

Challenging Regulatory Procedures Hamper Growth in the CBD Beverage Market

The absence of clearly defined regulations for CBD beverages in certain regions poses a significant challenge to manufacturers and retailers, impeding the potential growth of the market. The lack of consistency in standards regarding CBD dosage, manufacturing practices, quality control, and related aspects leads to a wide range of product quality, resulting in confusion among consumers. Navigating the intricate and varying regulatory landscape for CBD products, especially beverages, becomes ...

The Report Covers Cannabidiol Market Trends and the Market is Segmented by Source (Hemp and Marijuana), Application (Anxiety/ Stress, Neurological Conditions, Skin Care, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The Market Provides the Value (in USD Million) for the Above-Mentioned Segments.

Middle East and Africa CBD Product market size is USD 156.30 million in 2024 and will expand at a compound annual growth rate (CAGR) of 15.9% from 2024 to 2031.

The Report Covers Global CBD Hemp Oil Market Forecast & Companies. The Industry is Segmented by Product (Marijuana-Based and Hemp Based), Application (Multiple Sclerosis, Depression and Sleep Disorders, Neurological Pain, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The Value is Provided (in USD Million) for the Above Segments.

Tuvalu signed the Convention on Biological Diversity in 1992. The program of the Work Protected Areas is one of the successes of the convention. This action plan therefore presents the broad targets for the country as complemented in the National Biodiversity Action Plan to recognize, protect and apply best practices in relation to the management, protection and utilization of biological resources.

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CBD Pet Products Market Size 2024-2028

The CBD pet products market size is forecast to increase by USD 1.02 billion at a CAGR of 21.2% between 2023 and 2028. The market is experiencing significant growth due to the increasing popularity of non-psychoactive CBD-infused items for pets. These products cater to various health concerns, including anxiety and pain, making them an attractive alternative to traditional treatments. Commercial retailers and e-commerce platforms are capitalizing on this trend, offering a wide range of CBD-based beverages, skincare, and cosmetics for pets. Hospital pharmacies and clinical trials are also exploring the potential health benefits of CBD for animals. The launch of new CBD-based products continues to fuel market growth, as pet owners seek effective solutions to enhance their pets' wellbeing. Despite the promising outlook, challenges persist, including regulatory compliance and consumer education on proper dosage and usage. Overall, the market is poised for continued expansion, offering innovative solutions for pet health and wellness.

What will the size of the market be during the forecast period?

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Cannabis, a plant long known for its psychoactive properties, has recently gained popularity for its therapeutic benefits, particularly in the form of Cannabidiol (CBD). This non-psychoactive compound has been making waves in the human health industry due to its potential medical benefits, and now, it's making its way into pet care. Pet humanization, the trend of treating pets as family members, has led to an increase in pet care expenditure. Moreover, it can aid in treating sleep disorders and even help in managing cancer symptoms in pets. The legalization of hemp-based CBD products has made it easier for pet owners to access these supplements. Hemp-based CBD products are non-psychoactive, meaning they do not contain THC, the psychoactive compound found in cannabis. This makes them a safe and effective option for pets.

Furthermore, the market offers a wide range of options, including edibles, topicals, and beverages. Edibles come in various forms, such as treats, capsules, and oils. Topicals, on the other hand, are applied directly to the skin and can be used to target specific areas. Beverages are a convenient option for pet owners who want to incorporate CBD into their pet's daily routine. The e-commerce industry has played a significant role in the growth of the CBD pet product market. Online retailers offer a wide range of options, competitive pricing, and easy delivery, making it convenient for pet owners to purchase CBD products for their pets. Commercial retailers, such as pet stores and veterinary clinics, also offer CBD pet products, providing pet owners with a more traditional shopping experience.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Animal Type

  Dogs
  Cats
  Others


Distribution Channel

  Offline
  Online


Geography

  North America

    Canada
    Mexico
    US


  Europe

    Germany
    UK
    France


  APAC



  South America

    Brazil


  Middle East and Africa

By Animal Type Insights

The dogs segment is estimated to witness significant growth during the forecast period. The market in the United States has witnessed notable expansion, primarily in the canine sector. This trend is fueled by health-conscious pet owners seeking natural supplements for their beloved dogs. As CBD gains acceptance for human use, an equivalent trend emerges in the pet industry. CBD oil and other cannabinoid-based products offer potential therapeutic benefits for pets, providing relief without the harsh side effects commonly associated with conventional medications. Anecdotal evidence and preliminary research suggest CBD's potential in managing various conditions, although further scientific validation is necessary. The CBD market encompasses a range of products, including CBD capsules, tinctures, and CBD-infused foods.

CBD-infused products are perceived as a more benign option compared to conventional medications, providing relief without the undesirable side effects commonly linked to pharmaceuticals. The burgeoning collection of anecdotal evidence and ongoing research substantiates the use of CBD in addressing anxiety, pain, and skincare concerns in pets. However, it's essential to acknowledge that scientific substantiation is still in its infancy. Commercial retailers, including e-commerce platforms and hospital pharmacies, are increasingly stocking CBD-infused beverages, cosmetics, and other pet products.

Get a glance at the market share of various segments Request Free Sample

The dogs segment accounted for USD 205.80 million in 2018 and sh

The global cannabidiol market size is estimated to increase from USD 8.52 billion in 2024 to reach USD 41.42 billion by 2035, representing a CAGR of 15.46% during the forecast period.

Global CBD oil market reached USD 5,294.1 million in 2022 and is projected to witness lucrative growth by reaching up to USD 20,822.1 million by 2031.

The global cannabidiol market is poised to increase from USD 9.27 billion in 2024 to USD 61.72 billion by 2037, registering a CAGR of more than 15.7% during the forecast period, from 2025 through 2037. Key industry players include Medical Marijuana Inc., Cannoid, LLC, Isodiol International Inc., among others.

Global Cannabidiol Market size was valued at around USD 22.7 billion in 2023 and is projected to grow at a CAGR of around 19.21% during the forecast period 2024-30. increasing popularity of functional CBD products is one of the key trends shaping the growth of cbd market.

According to Cognitive Market Research, the global CBD Product market size is USD 7815.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 16.20% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 3126.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 2344.56 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1797.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.2% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 390.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 156.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.9% from 2024 to 2031.
The Hemp held the highest CBD Product market revenue share in 2024.

Market Dynamics of CBD Product Market

Key Drivers of CBD Product Market

Growing Scientific Research to Increase the Demand Globally

Promising effects of CBD are still being found in science for a number of ailments, including anxiety, pain, inflammation, and sleep difficulties. The amount of evidence that is accumulating is increasing customer interest and propelling the CBD market's notable growth. Research suggests that CBD can reduce symptoms and enhance quality of life, which is why people looking for natural substitutes for traditional treatments are adopting it at a higher rate. Demand for CBD products is rising as more people become aware of its potential therapeutic benefits, which is indicative of a move toward more holistic wellness strategies. This pattern emphasizes how crucial it is to continue researching CBD in order to understand its workings and maximize its effectiveness for a range of medical issues.

Legalization and Regulatory Changes to Propel Market Growth

An important turning point was reached when the 2018 Farm Bill was passed in the US, legalizing CBD derived from hemp and creating a plethora of new market potential. A framework for the manufacture, marketing, and distribution of CBD products was established by this regulatory milestone, which promoted greater consumer confidence and accessibility. The worldwide CBD market was further supported by parallel regulatory changes in other countries, which also created an atmosphere that was more conducive to innovation, research, and commercialization. Because of this, the CBD market is expanding and offers a wide range of products to suit different needs and tastes. These legislative reforms have not only accelerated economic growth but also made CBD's potential health advantages more accessible to consumers, highlighting the importance of changing regulatory environments in determining the direction of the CBD market.

Restraint Factors of CBD Product Market

Stringent Regulations and Compliance Challenges to Limit the Sales

Tight laws and differing standards of compliance present major obstacles for CBD producers and sellers, requiring careful maneuvering to guarantee compliance with various legal systems in various nations and jurisdictions. The disarray of rules not only makes operations more difficult, but it also raises the expense of compliance because companies have to spend a lot of money on legal counsel and in-depth study to stay current with changing standards. Furthermore, inconsistent restrictions can impede market expansion and breed uncertainty, which makes it harder for companies to grow and innovate. Despite these difficulties, maintaining long-term viability and fostering consumer trust in the quickly developing CBD market require aggressive interaction with regulatory agencies and investments in strong compliance standards.

Impact of Covid-19 on the CBD Product Market

The COVID-19 pandemic had a variety of effects on the CBD product market. Sales first declined as a result of supply chain disruptions and store closings. However, as the epidemic spread, there was a noticeable spike in demand for CBD products due to a rise in people turning to natural solutions for their stress, anxiety, and sleep difficulties. The number ...