Reports And Data
The global Cannabidiol (CBD) market size was USD 5.9 Billion in 2022 and is expected to register a revenue CAGR of 17% during the forecast period.
NEW YORK CITY, NY, UNITED STATES, April 23, 2023 /EINPresswire.com/ — The Cannabidiol (CBD) Market size globally was USD 5.9 Billion in 2022 and is anticipated to experience a revenue CAGR of 17% throughout the forecast period. The main drivers for the growth in market revenue are the increasing therapeutic and medicinal use of CBD products and the growing acceptance of cannabis for both medical and recreational purposes.
The legalization of cannabis for both medical and recreational use in many countries is another factor driving the growth in revenue of the cannabidiol market. As a result, there is a rising demand for CBD products known for their therapeutic and medicinal benefits. CBD is a non-psychoactive component of cannabis, which means it does not produce any high when consumed. Therefore, individuals looking for natural alternatives to prescription medications have become increasingly interested in CBD products.
CBD products are also being used for their therapeutic and medicinal properties, which is another factor contributing to the market’s revenue growth. CBD has been shown to have many health benefits, including the ability to treat neurological conditions such as epilepsy, chronic pain, anxiety, and…
