India Cannabidiol Market Size & Outlook, 2023-2030
India cannabidiol market, 2018-2030 (US$M)
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India cannabidiol market highlights
- The India cannabidiol market generated a revenue of USD 42.9 million in 2023 and is expected to reach USD 259.6 million by 2030.
- The India market is expected to grow at a CAGR of 29.3% from 2024 to 2030.
- In terms of segment, hemp was the largest revenue generating product in 2023.
- Hemp is the most lucrative product segment registering the fastest growth during the forecast period.
Cannabidiol market data book summary
| Market revenue in 2023 | USD 42.9 million |
| Market revenue in 2030 | USD 259.6 million |
| Growth rate | 29.3% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Hemp |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hemp |
| Key market players worldwide | Medical Marijuana Inc, Canopy Growth Corp, Elixinol Wellness Ltd Ordinary Shares, The Cronos Group, Isodiol International Inc, Endoca, Folium Biosciences, NuLeaf Naturals, PharmaHemp |
Other key industry trends
- In terms of revenue, India accounted for 0.6% of the global cannabidiol market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan cannabidiol market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 247.6 million by 2030.
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Cannabidiol Market Scope
Cannabidiol Market Companies
| Name | Profile | # Employees | HQ | Website |
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India cannabidiol market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cannabidiol market will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the India cannabidiol market based on hemp covering the revenue growth of each sub-segment from 2018 to 2030.
Consumption of marijuana for any purpose remains illegal in India. Consumption of marijuana-based products is also not allowed. However, patients can import CBD drugs from countries such as Europe and the U.S. with special permission from doctors and the government. But the cost of importing these products is high.
Although commercial use of CBD oil has not been approved in the country, hempseed oil is legal and can be produced & sold for application purposes only. It is used extensively in cosmetic products, which has led to a revolution in the cosmetic industry in the country. Furthermore, the initiatives taken by the key companies in the region are expected to boost growth of the CBD market.
For instance, in February 2023, Medical Cannabis Workshop was organized by Awshad, a Delhi-NCR-based cannabis wellness startup, at the PHD chamber in New Delhi. The primary objective of the workshop was to educate healthcare professionals on the application of CBD.
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Our clientele includes a mix of cannabidiol market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into India cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India cannabidiol market size, by product, 2018-2030 (US$M)
India Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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