Cannabidiol Market Size Attains USD 38.97 Billion at 15.83% CAGR by 2034

The global cannabidiol (CBD) market is valued at approximately USD 10.38 billion in 2025 and is projected to expand to about USD 38.97 billion by 2034, registering a robust CAGR of 15.83% over the forecast period.

Ottawa, Sept. 10, 2025 (GLOBE NEWSWIRE) -- Towards Healthcare, a sister firm of Precedence Research, valued the global cannabidiol market size at USD 8.97 billion in 2024 and predicts it will reach approximately USD 38.97 billion by 2034, growing at a CAGR of 15.83%. The market is being driven by expanding healthcare applications and increasing innovations.

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Key Takeaways

North America held a major revenue of 88% share of the market in 2024.
Europe is expected to witness the fastest growth in the cannabidiol market during the forecast period.
By source, the hemp segment dominated the market in 2024 and is expected to sustain the position during the forecast period.
By sales, the B2B segment was dominant in the market in 2024.
By sales, the B2C segment is expected to grow significantly at a notable CAGR in the coming years.
By end-user, the pharmaceuticals segment led the market in 2024 and is expected to sustain the position during the forecast period.

Market Overview & Potential

The cannabidiol market includes the use of cannabidiol (CBD) derived from hemp or marijuana for developing various products. They are being used in the development of medications or supplements for the treatment of epilepsy, pain relief, skin conditions, stress management, or as a sleeping aid. Moreover, they are available in a variety of forms such as topicals, edibles, oils, vaping, or tinctures. This is increasing their demand across various industries. The market is driven by their growing innovation and medicinal applications.

What are the Major Growth Drivers Cannabidiol Market?

The legalization of cannabidiol in various countries is increasing, which is driving the major growth in the use of cannabidiol products. They are being used in the development of medications to provide various health benefits. The research and development for discovering its new applications or dosage forms are also increasing. Moreover, their clinical trials for their application in epilepsy, chronic pain management, etc., are also increasing. The other market drivers are rising health awareness, growing demand for plant-based products, growing innovations, and their increasing accessibility.

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What are the Key Drifts in the Cannabidiol Market?

The market has been expanding due to the growing clinical trials, legalization bills, and funding to enhance their development, manufacturing, and approvals.

In June 2025, publication of the Phase 1 pharmacokinetic study of MRX1, which is an investigational cannabidiol (CBD) drug developed to treat chronic inflammatory pain conditions, was announced to be released with a reference number NCT06854783 on clinicaltrials.gov, by Ananda Pharma PLC. The National Institute for Health Research (NIHR), NHS England, and NHS Scotland provided funding for its trials.
In January 2025, the Marijuana Opportunity Reinvestment and Expungement (MORE) Act was reintroduced as a comprehensive marijuana legalization bill by Rep. Jerrold Nadler (NY-12), House Committee on Small Business Ranking Member Nydia Velázquez (NY-07), and Cannabis Caucus Co-Chairs Dina Titus (NV-01) and Ilhan Omar (MN-05). The Small Business Administration will provide funding to the legal marijuana businesses and service providers, along with non-discrimination protections for personal use or possession under this bill.
In November 2024, $8.42 million was secured as funding by Hempitecture by the U.S. Department of Energy (DOE). The development of an industrial fiber hemp manufacturing and processing facility in northeast Tennessee will be supported by this investment.

What is the Significant Challenge in the Cannabidiol Market?

The lack of standardization presents a major challenge in the market. This decreases the quality of the product, leading to its impure or contaminated production. Moreover, difference in the regulatory standards of the countries can delay their development and approval. Additionally, the requirement of sophisticated technologies for their development and safety concerns can also restrain the market growth.

Regional Analysis

Why did North America Dominate the Cannabidiol Market in 2024?

In 2024, North America captured the biggest revenue share of 88% in the market. The use of cannabidiol products in North America is legal, which in turn has increased their use. This, in turn, enhanced their cultivation, production, as well as distribution. Moreover, their availability is also being increased through online platforms. This enhanced the market growth.

For instance,

In April 2025, the first-ever CBD-based prescription medication for the treatment of chronic pain developed by Charlotte’s Web was announced to have received U.S. FDA approval. Thus, the introduction of cannabidiol into mainstream healthcare will be achieved by this approval, setting a new benchmark.

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What Made Europe Grow Notably in the Cannabidiol Market in 2024?

Europe is expected to host the fastest-growing cannabidiol market during the forecast period. Cannabidiol is being used for the development of various medicinal as well as cosmetic products in Europe. This is driving their innovations in various sectors. Additionally, their demand as pain relief or stress management products is also increasing, promoting the market growth.

For instance,

In March 2025, an experimental cannabis extract was developed by Vertanical, a German biotech company, which can be used as an alternative to opioid pain medication is planning to receive regulatory approval in Europe and the U.S. Moreover, the drug titled VER-01 has completed its two Phase 3 studies in patients who didn’t get sufficient relief from non-opioid analgesics for their chronic low back pain.

Segmental Insights

By source analysis

Why Did the Hemp Segment Dominate in the Cannabidiol Market in 2024?

By source, the hemp segment led the market in 2024 and is expected to show the fastest growth during the predicted time, due to its legal use in the development of non-psychoactive CBD products. At the same time, it provided higher yield, promoting the development of hemp-derived CBD products. Their cultivation was also easier, which increased their use.

By sales analysis

Which Sales Type Segment Held the Dominating Share of the Cannabidiol Market in 2024?

By sales, the B2B segment held the dominating share of the market in 2024, driven by its increased use as a raw material in various industries. This, in turn, increased their demand among the manufacturers. Additionally, they also promoted their reliable and larger quantity supply to the pharmaceutical sector, enhancing their drug formulation and clinical trials.

By sales, the B2C segment is expected to show lucrative growth in the upcoming years. The growing consumer demands are increasing the use of B2C sales for receiving CBD products. Moreover, the growing online platforms are increasing their accessibility.

In the B2C segment, the hospital pharmacies sub-segment is expected to grow significantly in the predicted time. Due to the presence of skilled professionals, the use of CBD products through these pharmacies is increasing. They provide guidance along with a variety of CBD products, which are regulated under strict protocols.

By end-user analysis

How the Pharmaceuticals Segment Dominated the Cannabidiol Market in 2024?

By end-user, the pharmaceuticals segment held the largest share of the market in 2024 and is expected to show the highest growth rate during the upcoming years, due to increased use of cannabidiol. They were used in the development of different types of drugs or supplements. Moreover, there is a growth in the R&D, which is enhancing their clinical trials for various diseases. Thus, this promoted the market growth.

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Recent Developments in the Cannabidiol Market

In September 2025, the launch of the re+PLAY CBD wellness brand across the U.S. was announced by the collaboration between Avicanna LATAM SAS and Harrington Wellness.
In April 2025, research was conducted by Ryan Castle, where the use of medical cannabis in treating the symptoms of cancer received major scientific support, which further highlighted the potential of cannabis to help in treating cancer.
In January 2025, an innovative liposomal CBD injection drug platform, which provides sustained release and precise dosing of synthetic CBD, developed by Innocan Pharma Corporation, was announced to have received its first patent in India.
In September 2024, Luo CBD lozenge was developed and launched by the collaboration between Aurora Cannabis Inc. and Vectura Fertin Pharma, Inc.

Cannabidiol Market Key Players List

Medical Marijuana, Inc.
ENDOCA
Folium Europe B.V.
Cannoid LLC
Canopy Growth Corporation
Isodiol Inte ational, Inc.
Elixinol
The Cronos Group
NuLeaf Naturals, LLC
PharmaHemp

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Segments Covered in The Report

By Source

Hemp
Marijuana

By Sales

B2B

By End-use
- Pharmaceuticals
- Wellness
- Food & Beverages
- Personal Care & Cosmetics
- Nutraceuticals
- Others

B2C

By Sales Channel
- Hospital Pharmacies
- Online
- Retail Stores
By End-use
- Medical
  - Chronic Pain
  - Mental Disorders
  - Cancer
  - Others
- Personal Use

By End-use

Medical

Chronic Pain
- Mental Disorders
- Cancer
- Others
Personal Use
Pharmaceuticals
Wellness
- Food & Beverages
- Personal Care & Cosmetics
- Nutraceuticals
- Others

By Region

North America

U.S.
Canada

Asia Pacific

China
Japan
India
South Korea
Thailand

Europe

Germany
UK
France
Italy
Spain
Sweden
Denmark
Norway

Latin America

Brazil Mexico
Argentina

Middle East and Africa (MEA)

South Africa
UAE
Saudi Arabia
Kuwait

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