Global Cannabidiol Market Size Expected to Reach $2.8 Billion by 2028 with a CAGR of 21%
A report from Grand View said that the global cannabidiol market size was valued at USD 2.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028.
- A report from Grand View said that the global cannabidiol market size was valued at USD 2.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028.
- Grand View added: "Furthermore, the use of hemp-derived CBD is increasing rapidly owing to its anti-inflammatory, anti-aging, and antioxidant properties.
- This rapidly progressing transformation of cannabidiol from herbal preparations to prescription drugs is anticipated to boost the growth of the market.
- Furthermore, growing awareness about the medical benefits of cannabidiol, including its healing properties, is anticipated to drive the product demand in the pharmaceutical industry."