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The Predicted CBD market size 2022

The Predicted CBD market size 2022

Firstly, for those who are new - what is CBD?

CBD, or cannabidiol, is a compound found in cannabis plants. Unlike its more famous cousin THC, CBD does not produce any psychoactive effects. Instead, it has been shown to provide a range of potential health benefits, including reducing anxiety and pain sensations. CBD is available in a variety of forms, including oils, capsules, and topical creams. It can also be added to food and beverages. CBD is thought to be especially beneficial for people who suffer from anxiety disorders. A 2019 study published in the journal Frontiers in Pharmacology found that CBD may help to reduce anxiety levels by modulating the activity of the endocannabinoid system. This system regulates mood, sleep, appetite, and other important functions. The study’s authors concluded that CBD could be a “promising therapeutic target” for the treatment of anxiety disorders and arthritis.

The Current Market Size for CBD in the UK:

In the United Kingdom, the CBD industry expected to be worth over £1 billion by the year 2022. The CBD industry is one of the fastest-growing in the UK, with sales expected to reach over £5 billion by 2025. CBD products are now available in a wide range of outlets, from health food stores to pharmacies, and their popularity shows no signs of abating. However, despite this growth, the current market size of CBD in the UK is still relatively small and has a lot more space to grow. This is highly due to the fact that many people are still unaware of its existence. Nevertheless, the CBD industry is expanding rapidly and is expected to continue to do so in the coming years. With more people becoming aware of its benefits and more companies entering the market, it is only a matter of time before the UK becomes one of the world's leading markets for CBD products. The UK market is currently dominated by oils and tinctures, but there is also a growing demand for edibles, topical products, and vape liquids due to their help reducing aches and pains - take a read here to find out how! With the number of CBD companies operating in the UK increasing, it is likely that this trend will continue in the coming years.

Global CBD Market Size - growing faster than the plant

CBD has been shown to have various health benefits, including reducing anxiety, helping regulate sleep/appetite as well as contributing to pain relief. The global CBD market was valued at approximately $5.2 billion in 2018 and is expected to grow to $26 billion by the end 2022, according to Brightfield Group. The majority of CBD sales currently come from the United States (US), which is projected to grow from $5 billion in 2019 to $23 billion by 2025. However, the CBD market is growing rapidly in other countries as well. Statista show the increase of sales from 2014-2022 in USA (shown in graph form). Another great page to view is Cannabidiol Market statistics as they show the increase of sales by product which gives a great insight on the best selling products. 

So, what are the most advanced countries using CBD?

CBD is legal in many countries around the world. In 2018, the World Health Organization declared it to be “safe and well-tolerated”. The most popular countries using CBD are the United States, Canada, the United Kingdom, and Australia. However, use of CBD is highest in percentage terms in Iceland (4%), Luxembourg (2%), and Norway (1%).

What Contributes To CBD Market Growth?

The CBD market is growing rapidly for a number of reasons. First, awareness of CBD and its potential benefits is increasing. More and more people are learning about CBD and its potential to improve health and wellbeing. This awareness is resulting in more people trying CBD products, which in turn is driving the market growth especially as the majority of people reap the benefits. Furthermore as more people use CBD products, they are sharing their experiences with others, further increasing awareness and knowledge of CBD. As more people become aware of the potential benefits of CBD, the demand for these products will continue to grow, contributing to the overall market growth. Equally as more studies are conducted on CBD, doctors and healthcare providers are becoming more familiar with its therapeutic potential. As a result, they are increasingly likely to recommend it to their patients. Another factor that has contributed to the growth of the CBD market is the increasing availability of high-quality products. In the past, many CBD products were poorly made and did not provide consistent results. However, as the market has grown, so has the quality of CBD products. Furthermore, the legalization of hemp and CBD products at the federal level has made these products more accessible than ever before. Finally, the rise of e-commerce has made it easier than ever for consumers to purchase CBD products online. With all of these factors working in its favor, it is no wonder that the CBD market is experiencing such tremendous growth.

What other countries in Europe have promising markets?

The CBD markets in Germany and Italy are also expected to grow significantly in the coming years. With the legalization of cannabis and the increasing acceptance of CBD products around the world, the global CBD market is poised for significant growth in the years to come. CBD recently became legal in sports with the World Anti-doping Agency removing CBD from its prohibited list in 2018. Take a read on the impact it had and how it changed the stigma for athletes.

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