The global cannabidiol (CBD) market is projected to more than double in size over the next five years, reaching $22.05 billion by 2030, according to a new report by Grand View Research.
Valued at $9.14 billion in 2024, the market is forecast to grow at a compound annual growth rate of 15.8% from 2025 through the end of the decade.
CBD’s surge in popularity is being driven by changing consumer attitudes, increasing legalization of hemp-derived products, and growing recognition of its therapeutic potential. With over 80 cannabinoids in the cannabis plant, cannabidiol has become the most widely used for health and wellness purposes due to its non-psychoactive properties.
Hemp-derived CBD currently dominates the global market, accounting for over half of total revenue in 2024. Products infused with CBD—including oils, capsules, skincare items, edibles, and beverages—have become increasingly common across pharmacies, beauty retailers, and health stores. Companies like Sephora and Ulta Beauty now carry CBD-based skincare, and mainstream pharmacy chains such as Walgreens and CVS offer a wide range of CBD items.
The business-to-business (B2B) segment continues to lead the market, driven by the rising number of manufacturers using CBD as a raw ingredient for pharmaceuticals, nutraceuticals, cosmetics, and more. The pharmaceutical sector remains the largest end-use market, fueled by growing clinical research and consumer interest in managing pain, anxiety, and neurological disorders.
North America remains the global leader, with an 86.7% share of the CBD market in 2024. This dominance is attributed to favorable laws, a large number of health-conscious consumers, and a robust manufacturing base. However, Europe and Asia-Pacific are expected to see the fastest growth, with countries like China rapidly expanding hemp cultivation and export.
Major players in the market include ENDOCA, Medical Marijuana, Inc., Canopy Growth Corporation, PharmaHemp, and The Cronos Group. Many are expanding globally, launching new products, and investing in research to maintain a competitive edge. For example, Medical Marijuana, Inc. has expanded operations in Brazil and Mexico, while Aurora Cannabis has moved to acquire new brands and distribution channels.
The report indicates that as more countries adopt regulatory frameworks for cannabis and consumers grow more familiar with the benefits of CBD, the market is poised for continued acceleration across sectors from pharmaceuticals to personal care.
