The CBD industry is one of the fastest growing industries in the world. With its popularity and demand increasing, it is important to stay up to date on the latest CBD industry statistics. In this blog post, we will discuss the current state of the CBD industry, including market size, consumer trends, and more.
We will also look at the potential future of the CBD industry and what that could mean for businesses and consumers. Finally, we will discuss the importance of staying informed on CBD industry statistics and how it can help businesses make informed decisions.
CBD Industry: The Most Important Statistics
Offline distribution channel segment registered for 52.4% business share in 2021 and is estimated to grow at a lucrative market pace in the coming years due to increased consumer confidence in offline purchases.
17% of people are interested in CBD-infused food and 11% are interested in nonalcoholic, CBD-infused drinks.
CBD Industry: Statistics Overview
The United States captured the largest market for CBD products, accounting for over 70% of the total market share in North America.
This highlights the dominance of the US in the CBD industry, which is a key factor to consider when looking at the overall market size and potential for growth.
It also provides insight into the potential for growth in other regions, such as Europe, where the market size is currently valued at 2.53 billion.
The global Cannabidiol (CBD) Market is expected to reach a valuation of USD 25.15 billion by 2032 with a CAGR of 15.3%.
This provides an accurate forecast of the growth of the CBD market over the next decade. This information can be used by investors and entrepreneurs to make informed decisions about investing in the CBD industry.
It also provides valuable insight into the potential size and scope of the CBD market in the future.
The hemp segment of the CBD market is expected to grow at a significant rate of 22% in the forecast period.
The hemp segment of the CBD market is growing at a rapid pace. This indicates that hemp-derived CBD products are gaining popularity and that there are smooth regulatory pathways in place for low THC levels.
This suggests that the CBD industry is growing and that it is becoming more accessible to consumers.
CBD oil revenue in 2021 was over USD 3.1 billion, which is important for the CBD industry as it indicates the potential of the market and its growth.
Offline distribution channel segment registered for 52.4% business share in 2021 and is estimated to grow at a lucrative market pace in the coming years due to increased consumer confidence in offline purchases.
There is a potential for growth in the offline distribution channel segment, which is an important factor for businesses to consider when making decisions about their distribution channels.
This data can be used to inform business decisions and help companies make informed decisions about their distribution strategies.
40% of people purchase CBD from a dispensary, 34% from a retail store, 27% from an online retailer, and 12% from another source.
This demonstrates different sources from which people are buying CBD products. It can help businesses understand where their customers are coming from and how to best target them.
Additionally, it can help inform the industry of the most popular sources of CBD products and how to better serve their customers.
17% of people are interested in CBD-infused food and 11% are interested in nonalcoholic, CBD-infused drinks.
There is a growing demand for CBD-infused products. This can be used to inform businesses and investors of the potential for growth in the industry.
8% of CBD users take CBD for digestive issues, and 28% of people are interested in CBD gummies.
There is a significant demand for CBD products related to digestive issues, as well as a potential market for CBD gummies.
17% of people are interested in CBD bath bombs and skincare products.This statistic is important because it provides insight into the potential market for CBD bath bombs and skincare products.
There is a significant portion of people interested in these products, which could be used to inform marketing and product development decisions in the CBD industry.
6% of CBD users take CBD for acne or skin care, and 29% of people are interested in CBD lotions and balms.
There is a high demand for CBD products for skin care, which can be used to inform marketing and product development decisions.
The legal cannabis industry supports over 400 000 jobs and has maintained an over 27% job growth rate for the past 5 years, with California remaining the nation’s leading cannabis employer.
The industry is growing and creating jobs, which is beneficial for the economy.
The employment rate in the CBD product manufacturing industry has increased by 43% on average over the last 5 years, and even more drastically since 2008, suggesting that employment rate in this industry will continue to grow in the next 5 years.
The CBD industry is growing and creating more jobs, which can benefit the economy.
58% of US consumers prefer to use CBD in the form of gummies or other edible products.
This statistic is important in the context of CBD industry statistics because it provides insight into the preferences of US consumers, which can be used to inform marketing and product development decisions.
The CBD oil market is expected to grow exponentially at a CAGR of 31.5% from 2020-2031, with Europe and North America accounting for more than 70% of the market share.
This shows the potential for growth and the importance of online sales channels.
49% of CBD products tested contained THC, with 18% containing less than 80% of the indicated amount of CBD and 37% containing more than 120%.
The amount of CBD advertised in certain products is not consistent with the amount of CBD actually contained in the product.
This could lead to consumers being misled or not getting the desired effects from the product, and it could also lead to potential health risks if the product contains more than the legal limit of THC.
57% of 46 samples of CBD products were found to contain > 1% THC, which is considered illegal in the Netherlands.
This statistic is important in the context of CBD industry statistics because it highlights the potential risks of inaccurate labeling and lack of scientific support for health claims.
This could lead to consumers being exposed to potentially dangerous side effects such as panic attacks, intoxication or disorientation, as well as legal issues due to the illegal THC content. This emphasizes the need for better regulatory control and accurate labeling in order to ensure consumer safety.
The global cannabidiol market size is expected to grow at a compound annual growth rate of 16.8% from 2022 to 2030, driven by increasing demand for its healing properties. This growth is expected to be hindered by deaths and hospitalizations due to synthetic cannabis consumption and vaping-related lung injury.
This statistic is important as it provides a snapshot of the current and projected growth of the CBD market, as well as potential risks that could hinder its growth.
This information can be used by businesses in the CBD industry to inform their strategies and investments.
The European CBD industry is expected to grow significantly between 2022 and 2027, with hemp-derived cannabidiol expected to cross market value of USD 18 billion by 2027.
This ruling reinforces the confidence of CBD-based products manufacturers and fuels the market growth, as well as providing supportive regulatory policies that fuel over-the-counter (OTC) sales in the country.
This is important for the CBD industry as it provides a legal framework and confidence in the product, allowing for more investment and growth in the industry.
A survey found that 56% of European adults are aware of CBD, but only 16% have used it. 74% of consumers reported positive impacts from using CBD, and the top reasons for use were pain management, relaxation, stress relief, anxiety reduction, and overall wellness.
There is a large potential market for CBD products in Europe, but that there is still a need to educate consumers about the potential benefits of CBD.
64% of US and 51% of UK internet users would consider using CBD-infused products, but knowledge of dosage and regulation is low.
There is a high demand for CBD products, but that there is a need for more education on the subject. This could be a great opportunity for the CBD industry to provide more information and resources to consumers.
Conclusion
The CBD industry is growing rapidly and is projected to continue to grow in the coming years. With more and more people turning to CBD for its potential health benefits, it is no surprise that the industry is booming.
As the industry continues to expand, it is important to stay up to date with the latest CBD industry statistics to ensure that you are making informed decisions. With the right information, you can make the most of the opportunities that the CBD industry has to offer.
References
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