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The Global CBD API Market growth is predicted at a 42.79 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the report:
- CBD has been recommended for a range of health conditions, it is considered the best treatment while considering the worst childhood epilepsy disorders.
- The increasing demand for health and wellness, and natural remedies is expected to drive industry growth.
- North America dominated the market and accounted for a global revenue share in 2023.
- One of the significant concerns restraining industry growth is the high market price of CBD due to extensive research and medical benefits.
While cannabis includes over one hundred distinct cannabinoids, such as tetrahydrocannabinol (THC) and lesser cannabinoids, such as CBN and CBG, CBD is the most well-known. CBD binds to multiple cell receptors throughout the body, directly and indirectly revealing its extensive medicinal potential. Cannabidiol (CBD) research is developing rapidly, providing clinical support for the human body, mind, and emotions. Each cannabinoid possesses unique characteristics, medicinal capabilities, chemical structure, and advantages. CBD is frequently extracted and manufactured into CBD-based oils, tinctures, topical creams, and edibles due to its versatility and well-tolerated nature.
All cannabinoids produce therapeutic effects through interaction with the endocannabinoid system (ECS), and CBD is not dissimilar. The ECS is a complex cell signalling system in all animals, composed of endocannabinoids and receptors. CBD regulates a variety of biological processes, including pain perception, emotion, sleep, and immunological response. Cannabidiol is very sensitive for the human body as it shows various side effects. EPIDIOLEX is the first prescription CBD product approved by the FDA for the treatment of seizures associated with Lennox-Gastaut syndrome (LGS), Dravet syndrome, or tuberous sclerosis complex (TSC) in individuals aged one year and older. It implies that clinical trials have thoroughly examined its safety and efficacy profile.
The market is primarily driven by the rising demand for Cannabidiol (CBD) for health and well-being applications. Cannabidiol is beneficial for treating anxiety and seizures and lowering pain. Due to the absence of psychotropic effects, Cannabidiol is the cannabinoid most commonly used for therapeutic purposes, and it is in great demand for health and wellness purposes, which is the primary market driver. In addition, the increasing acceptability and use of products as a result of regulatory approvals is a significant driver that is anticipated to increase the manufacturing of CBD-infused products. In addition, government funding for therapeutic research and collaborations with prominent market players will enhance the development and demand for CBD as an API.
As CBD is a very delicate chemical compound for therapeutic use, FDA is approving CBD-derived drugs very carefully; hence only one drug has been approved yet. Such delays in approvals will impact the global demand for CBD as an API. The high cost of this market is the most significant obstacle they face. Since they are associated with medical advantages and necessitate extensive research to prepare products, they are unaffordable to most of the population. This is a crucial impediment to the expansion of the CBD business.
The CBD API market is segmented into three segments. The first segment is by product, including Full spectrum CBD, Broad-spectrum CBD, CBD isolate, and Others. The other segment is by Origin, which has two divisions, synthetic and natural, in which natural Origin is very much demanding in the current market. The third segment is Indication, which comprises Alzheimer's Disease, Autism, Cancer, Chronic Pain, Epilepsy, Psychosis, Anxiety & Depression, Obesity/weight loss, and Others.
Regionally, North America dominated the Cannabidiol (CBD) API market, which is anticipated to continue during the forecast period. Most of the CBD providers are present in the North American region, and the investments are at the peak for research and development on Cannabidiol-derived therapies.
Recent Developments
- In April 2023, Vantage Hemp Co. submitted a DMF for its CBD Isolate to the FDA. The FDA needed the submission (DMF #037784) to produce safe and effective CBD products. This engagement established the Company as a transparent and dependable partner to clients and regulators.
- In April 2022, Averix Bio and Geocann have established a strategic alliance for distributing pharmaceutical API phytocannabinoid constituents, which were developed utilizing a drug delivery system technology that has been empirically validated in the marketplace.
Competetive Landscape
- Recipharm
- brains bioceutical
- Purisys
- DSM
- Bedrocan
- CBD API
- Vantage Hemp
- Eurofins
- BIOVECTRA Inc.
- EndoPure
- Biosyyd, UAB
- KD Pharma Group
- Folium Biosciences
- Kinetochem
- Colombian Golden
- Averix Bio, LLC
- Veranova
- KND Labs
- Jordan Process
- GVB Biopharma
Global CBD API Market Report Scope
|
Report Attribute |
Specifications |
|
Growth Rate CAGR |
CAGR of 42.79% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Product, Origin, Indication, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Recipharm, brains bioceutical, Purisys, DSM, Bedrocan, CBD API, Vantage Hemp, Eurofins, BIOVECTRA Inc., EndoPure, Biosyyd, UAB, KD Pharma Group, Folium Biosciences, Kinetochem, Colombian Golden, Averix Bio, LLC, Veranova, KND Labs, Jordan Process, GVB Biopharma, and Other key players |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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