CBD Global Market: Opportunities Across Fmcg

January 2023

Consumers concerned about their physical and mental wellbeing are seeking preventative health solutions in food. This is driving sales of health and wellness packaged food, which reached USD497 billion in 2021. Free from has seen the strongest growth, driven by the plant-based trend and innovation. Consumers are looking for food as a source of immunity support, gut health and mood management. Companies are reformulating their products towards a healthier portfolio to meet increasing demand.

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CBD and regulatory standpoint around the world

While regulation around CBD tends to be laxer than for THC, especially when paired with industrial hemp production, there are still many grey areas and hurdles for CBD around the globe and it remains illegal in many countries. CBD is usually the first stop when creating a medicinal cannabis programme and it is not always regulated for adult use consumption or even as an ingredient in other types of products. Legal frameworks will continue to be a shaping force for CBD in the future, not only because of the possibility of markets to develop but also in dictating in what capacity CBD will be used in adjacent industries.

When considering non-medical CBD, the global market reached USD11 billion in 2022 making it 28% of the total cannabis market around the world, in comparison with medical cannabis that accounts for nearly 20% of the global market. CBD’s importance will continue steadily over the forecast period as it will benefit from the halo effect of potential legalisations in adult-use cannabis. Nonetheless, the most important driver for CBD is not the adult use market but rather its own positioning in the market. From loose medical claims to active ingredient and functionality, the promise of CBD as an active ingredient is present across industries. And more recently, the combination of CBD with lesser-known cannabinoids, other functional ingredients and evolving positioning hopes to give consumers more defined consumption occasions.

 

CBD and regulatory standpoint around the world
CBD is only a part of the total cannabis market
Prevalent markets around the world
International expansion of CBD will happen across the board
CBD is expanding its footprint in fmcg
How is CBD different around the world?
Why (or not) consumers look for CBD?
Relaxation is closely connected to consumption occasions
Consumers find more replacement opportunities and value in features
Hemp products riding the wave of the cannabis industry
Hemp could find better footing with sustainability
More hemp product examples
Hemp products are a first step into the cannabis market
CBD's functionality must reconcile with consumers' snacking occasions
Pet products in response to changing lifestyles
CBD plays well to niche need states in drinks
Adult non-alcoholic drinks and casual functionality
CBD presence in beauty shrinks as industry self regulates
The paradox of general wellness vs specific beauty functionality
CBD stagnates during pandemic immune craze
Is collagen a good model for CBD?
Beyond CBD and stacking is the potential next move
Usage mission is more important than product format
Intersection of CBD and industry growth
Major challenges for CBD
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