The global CBD nutraceuticalsmarket size is estimated to be USD 5,190.1 million in 2021 and is expected to witness a CAGR of 17.14% during the forecast period. Deficiency of essential nutrients in people coupled with development of effective supplements are key drivers for global market growth. Moreover, rising awareness for plant-based nutraceuticals, growing geriatric population, commercial availability via multiple channels, favorable regulation for supplements, and increasing disposable income are other drivers propelling the market growth. However, product counterfeiting and inadequate knowledge for supplements are expected to restrain the global market growth.

By Type

Based on services, the market is segmented into capsules & softgels, CBD tinctures, CBD gummies, and others. In 2021, the CBD tinctures segment accountedfor the maximum revenue share due to theirnumerous benefits and wide availability, worldwide. CBD tinctures enable quick relief in stress, pain, and anxiety and are available in multiple concentrations and volume. Capsules and softgels segmentis expected to grow at the fastest CAGR during the forecast period owing to its ease of use.

By Distribution

Based on distribution, the market is categorized into online, retail stores, and pharmacies. In 2021, the retail store segment accounted for the largest revenue share due to increase in collaborationsbetweenmanufacturers andretailers &local vendors worldwide. Online segment is anticipated to grow at a significant CAGR during the forecast period due to growingtech-savvy customer base, COVID-19 outbreak that has promotedhome-based shopping, and technological advancements.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the favorable regulatory framework, increase in health-conscious consumers, and investment in R&D by manufacturers. Also,high disposable income in the U.S. and Canadais fuelling the segment growth.

Asia Pacific is projected to exhibit the fastest CAGR over the forecast period owing to the rising availability and formalization of standards for use of cannabidiol-infused products. Additionally, rising awareness for CBD nutraceuticals and regional expansion by leading players are expected to drive the segment growth in this region.

CompetitorInsights

Some of the majorcompanies in the CBD nutraceuticals market are Tikun Olam(Israel),Irwin Naturals (U.S.), OrganiGram Holdings (Canada), Charlottes Web Holdings, Inc. Wr.(U.S.), Cronos Group (Canada), CV Sciences, Inc. (U.S.), Aphria Inc. (Canada), Medical Marijuana, Inc. (U.S.), Aurora Cannabis Inc. (Canada), and Elixinol Global (Australia).The leading players have adopted strategic collaborations, mergers& acquisitions, and novel product development approaches to capture the market share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country-level along with key market trends and dynamics from 2021 to 2029. The CBD nutraceuticals market report is categorized into the following segments and subsegments:

CBD Nutraceuticals Market, By Type (Revenue, 2021-2029, USD Million)

CBD Nutraceuticals Market, By Distribution(Revenue, 2021-2029, USD Million)

CBD Nutraceuticals Market, By Region (Revenue, 2021-2029, USD Million)

Scope of CBD Nutraceuticals Market Report:

Key Parameters	Details
Base Year	2021
Forecast Period	2022-2029
Study Coverage	Global and regional market size and revenue forecast Segment market size and revenue forecast at global, regional, and country level Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis) Conclusion and recommendations
Qualitative Analysis	Market drivers Market restraints Market opportunities Recent market trends Market challenges Porter’s Five Forces analysis PEST analysis Value-chain analysis COVID-19 impact analysis
Regional Market Scope	North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA)
Company Profiles	Exhaustive profiles of top 10 players 50+ other major players listing
15% Free Customization Available	You can customize the study scope to meet your exact requirement. Click here for more details