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CBD-infused Products Market size was valued at USD 24.23 billion in 2019 and is poised to grow from USD 29.68 billion in 2023 to USD 184.38 billion by 2031, growing at a CAGR of 22.5% in the forecast period (2024-2031).

Various government bodies around the world strictly regulate the market. Companies operating in countries that received cannabis product approval status much earlier than other countries dominate the industry. Better product know-how, raw material production, extensive research and development for launching various product categories, and a stronghold on the supply chain are just a few of the benefits that help these companies gain a competitive advantage in the market. This helps the companies expand their presence in other countries. 'Charlotte's Web Holdings, Inc.', 'CV Sciences, Inc.', 'Cannara Biotech Inc.', 'Canopy Growth Corporation', 'Elixinol Limited', 'Endoca BV', 'Aurora Cannabis Inc.', 'Isodiol International Inc.', 'Medical Marijuana Inc.', 'MGC Pharmaceuticals Limited', 'Kazmira LLC', 'Green Roads of Florida, LLC', 'Curaleaf Holdings, Inc.', 'Medterra CBD', 'Joy Organics', 'PureKana', 'CBD American Shaman', 'Hemp Bombs', 'Lazarus Naturals', 'Infinite CBD'

The overall growth of the market has been moderated by rising demand for cannabis products and rising healthcare spending. Furthermore, rapid urbanisation and population growth are expected to accelerate market growth. According to a recent Quinnipiac University poll, 54% of American voters polled supported cannabis legalisation without additional restrictions, while 81% supported cannabis legalisation for medicinal purposes. As legalisation spreads around the world, demand will gradually rise, accelerating the industry's overall growth.

Customers want innovative and nutritious food products that will help them achieve their fitness goals while avoiding injuries such as inflammation and pain. Manufacturers are releasing products that contain novel ingredients such as CBD oil. Cannabidiol oils are a non-psychoactive and legal cannabis component that has taken over a variety of industries, including food, health products, pharmaceuticals and cosmetics, and others. According to the Harvard Health Institute, CBD is commonly used to treat human health issues such as insomnia, anxiety, and so on. As a result, there is an increase in consumer demand for such innovative CBD products to maintain a healthy life balance.

North America dominated the CBD-infused products market in 2021, followed by Europe, Latin America, the Middle East and Africa, and Asia-Pacific. The large share in this region is primarily due to ease of access, technological advancements in the production and processing of these products, a large base of CBD consumers, changing perceptions toward CBD consumption for both medical and recreational purposes, growing awareness among users of the various medical benefits of CBD, and increased investments from leading players. Because of rising CBD R&D expenditures and rising consumer spending on CBD-infused products, the United States is expected to dominate the North American market through 2028. It is expected to grow the fastest during the forecast period.

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Global CBD-infused Products Market

Product ID: SQSG35I2047

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