U.S. Cannabidiol Market Size & Outlook, 2023-2030
U.S. cannabidiol market, 2018-2030 (US$M)
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U.S. cannabidiol market highlights
- The U.S. cannabidiol market generated a revenue of USD 5,829.0 million in 2023 and is expected to reach USD 14,762.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 14.2% 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 5,829.0 million |
| Market revenue in 2030 | USD 14,762.7 million |
| Growth rate | 14.2% (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, Marijuana |
| 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, U.S. accounted for 75.6% 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 North America, U.S. cannabidiol market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 2,806.4 million by 2030.
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Cannabidiol Market Scope
Cannabidiol Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 53.64% in 2023. Horizon Databook has segmented the U.S. cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
CBD derived from hemp is legalized at the federal level in the U.S. The 2018 Farm Bill legalized the production of hemp-derived CBD under certain regulations. The 2014 Farm Bill allowed pilot programs to be carried out for research purposes. Amendments to the bill defined hemp as a derivative of the cannabis plant with THC content equal to or less than 0.3%.
In addition, the bill allows the transport of hemp-derived products across the states without any restrictions for personal or commercial purposes. However, cannabinoids derived from hemp will be considered legal only when their production follows federal and state regulations. The federal government has not legalized cannabis-derived CBD in the 2018 Farm Bill. However, the farm bill is ineffective at the state level.
In total, as of 2022, 37 states have legalized cannabis for medical use, and 19 states, including California, Alaska, Maine, Massachusetts, Colorado, Vermont, Michigan, Nevada, Oregon, Washington D.C.,, have legalized cannabis for recreational purposes. Other states that continue to restrict the use of all types of cannabis, including hemp & marijuana, and cannabis-derived CBD products are South Dakota, Idaho, and Nebraska.
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Target buyers of U.S. cannabidiol market databook
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Our clientele includes a mix of cannabidiol market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the U.S. cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into U.S. cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. cannabidiol market size, by product, 2018-2030 (US$M)
U.S. Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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