NEW YORK , Aug. 7, 2024 /PRNewswire/ -- The global cannabidiol (CBD) market size is estimated to grow by USD 44.56 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of almost 23.59% during the forecast period. Legalization and regulatory changes with respect to cannabidiol is driving market growth, with a trend towards growth in e-commerce industry.
However, high cost of cannabidiol products poses a challenge. Key market players include Aurora Cannabis Inc., Cannabis Science Inc.
, Cannoid LLC, Canopy Growth Corp., Charlottes Web Holdings Inc., Cronos Group Inc.
, Elixinol, Endoca BV, Folium Biosciences, Isodiol International Inc., Medical Marijuana Inc., MediPharm Labs Inc.
, Medterra CBD, NuLeaf Naturals LLC, PharmaHemp d.o.o.
, Tikun Olam, and Tilray Brands Inc.. Get a detailed analysis on regions, market segments, customer landscape, and companies - Click for the snapshot of this report Key Market Trends Fueling Growth The global cannabidiol (CBD) market is experiencing significant growth due to the increasing adoption of online shopping.
Millennials, who prefer convenience, security, and time efficiency, are driving the trend towards online retailing. Major e-commerce platforms, such as Alibaba Group Holding Ltd. (Alibaba) and Amazon.
com Inc. (Amazon), are capitalizing on this trend by offering discounts and detailed product descriptions. Omnichannel retailing has become popular, with online channels complementing traditional retail st.