Hemp-Derived CBD Market Set to Expand Significantly by 2034

0.6 min readPublished On: January 10th, 2025By HCN News Team

LOS ANGELES- The global hemp-derived cannabidiol (CBD) market is forecasted to grow from $8.28 billion in 2023 to $46.25 billion by 2034, with a compound annual growth rate (CAGR) of 16.93%, according to Research and Markets. This expansion is driven by increased consumer preference for natural wellness products, regulatory developments, and growing applications in personal care and cosmetics.

Key segments contributing to this growth include CBD-infused skincare, known for anti-inflammatory properties, and pharmaceuticals emphasizing precise dosing and THC-free formulations. North America leads market revenue, while the Asia Pacific is poised for rapid growth due to regulatory relaxations and rising demand.

Challenges such as regulatory inconsistencies remain, but the market is expected to offer substantial opportunities for innovation and investment.

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About the Author: HCN News Team

The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.