Cannabidiol Market Growing Demand at CAGR of 16.8% by 2030
Cannabidiol Industry Overview The global cannabidiol market size was valued at USD 5.18 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.8% from 2022 to 2030. Cannabidiol is a chemical compound that is found in the cannabis sativa plant, and is extracted from hemp or cannabis, generally from hemp due to its naturally high cannabidiol (CBD) content. It has several benefits in treating anxiety and seizures and reducing pain. Due to its healing properties, the demand for CBD for health and wellness purposes is high, which is the major factor driving the market. In addition, the rising acceptance and use of products due to government approvals is a major factor expected to boost the production of CBD-infused products. Gather more insights about the market drivers, restrains and growth of the Global Cannabidiol Market Cannabidiol oil is increasingly being used to make skincare products to treat acne and wrinkles. Sephora, for example, had re...