The $9 billion global CBD market is projected to reach $19.3 billion by 2027, according to a new report from ResearchAndMarkets.com. The estimate is based on a CAGR of 15.69% during the 5-year forecast period.
The report, tracking trends in potential markets for strategic decision-making, breaks down sales both geographically and by distribution channel.
Additionally, it identifies sales across the following CBD sub-markets: Medical OTC products, analgesic products, dermatology products, CBD mental health products, sleep aids, nutraceuticals, sports Nutrition, CBD vitamins and dietary supplements, weight management and well-being CBD products.
Highlights from the report:
- According to the “CBD Consumer Health Market Intelligence Report,” CBD sales in the Americas were estimated at $3.6 billion in 2021. They are expected to reach $4.1 billion by the end of 2022 and pull in an estimated $8.5 billion annually by 2027.
- The Asia-Pacific CBD consumer market was estimated at $1.6 billion in 2021 and is expected to reach $1.9 billion in 2022. Based on the projected CAGR of 16.59%, the Asian-Pacific market is expected to be valued at $4 billion by 2027.
- CBD sales in Europe, Middle East and Africa earned an estimated $2.8 billion in 2021. This year, the market is expected to be worth $3.2 billion, according to ResearchAndMarkets.com, and reach a project $6.8 billion in sales by 2027.
For more information about this report visit https://www.researchandmarkets.com/r/jpe4r1