Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "CBD Nutraceuticals Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global CBD nutraceuticals market is undergoing rapid growth, with projections indicating a surge from $7.39 billion in 2023 to an impressive $17.25 billion by 2028. This flourishing sector, expanding at a compound annual growth rate (CAGR) of 18.1%, highlights the rising consumer inclination toward health and wellness supplemented by plant-based products.
A recent market analysis spotlights North America as the current frontrunner in the worldwide CBD nutraceuticals landscape. Meanwhile, the Asia-Pacific region is slated for accelerated expansion within the forecast period, signifying a shift toward widespread acceptance and recognition of CBD-infused nutritional products.
The CBD nutraceutical industry's growth drivers are manifold:
- Integration into mainstream wellness and lifestyle choices,
- Rigorous quality control measures,
- Shifts in healthcare perspectives favoring plant-derived supplements,
- Ongoing research and development,
- Diversification and innovation in product offerings.
Additional market dynamics include legal and regulatory shifts across various jurisdictions, heightened consumer awareness and education about the benefits of CBD, and increased emphasis on health and fitness.
The CBD nutraceutical market encompasses a range of products, with tinctures, capsules, soft gels, and gummies among the most prominent offerings. Meeting consumer demand for natural and health-oriented products, industry leaders are continually developing novel formulations and delivery methods.
An example of industry innovation includes the introduction of CBD Oil 2.0 by Cibdol, a new formulation that promises amplified benefits through a symphony of cannabinoids. Similarly, Irwin Naturals Inc. recently launched its CBD 25mg Softgels, providing a convenient option for those incorporating CBD into their daily wellness routines.
Strategic acquisitions also indicate market vitality, such as Village Farms International Inc.'s acquisition of Balanced Health Botanicals, aimed at bolstering its U.S. retail CBD presence.
Major players shaping the CBD nutraceuticals market:
- CV Sciences Inc.
- Elixinol LLC
- Medterra CBD
- Charlotte’s Web Holdings Inc.
- Diamond CBD Inc.
The in-depth market research provides a comprehensive analysis of the industry’s current status and potential future developments. With detailed examinations of regional markets, types of CBD nutraceutical products, distribution channels, and applications, the report lays out a rich canvas of data and insights for stakeholders.
Market Dynamics and Opportunities
The research dives into the economic impact of CBD nutraceuticals, the significance of the 'factory gate' value, and consumption values across different geographies. The report also emphasizes the revenue generation within the market, regardless of where products are manufactured, providing a clear picture of the market's operational framework.
Fueled by the collective efforts of industry players, the global CBD nutraceuticals market is set for a robust trajectory, continuing to evolve in response to consumer demand and regulatory landscapes. It stands on the brink of even more significant expansion and integration into health-conscious lifestyles worldwide.
A selection of companies mentioned in this report includes
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/bpocql
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