The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s CBD Nutraceuticals Global Market Report 2024, the CBD nutraceuticals market is expected to show promising growth in the forecast period.

Introduction: A Flourishing Industry Landscape
The CBD nutraceuticals market has witnessed rapid expansion in recent years, driven by factors such as product diversification, increasing acceptance by healthcare professionals, and integration into consumer lifestyles. The market is poised to grow from $7.39 billion in 2023 to $8.86 billion in 2024, at a remarkable CAGR of 19.9%, setting the stage for continued growth and innovation.

Propelling Factors: Demand for Plant-Based Foods

• The surge in demand for plant-based foods catalyzes the growth of the CBD nutraceuticals market.
• Plant-based dietary supplements, including CBD nutraceuticals, gain popularity due to their natural origins and health benefits.
• Increased consumer awareness and shifting dietary preferences contribute to the rise in demand for plant-based products, driving market expansion.

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Innovations Driving Market Trends

• Product Advancements Fuel Growth
  • Companies focus on product innovations to strengthen their market position.
  • For instance, Cibdol introduces its exclusive CBD Oil 2.0 range, featuring enhanced levels of essential compounds for improved efficacy.
  • Innovations target various aspects of modern living, addressing conditions related to appetite, mood, pain, and sleep.

Strategic Acquisitions: Village Farms International Inc. Expands Presence

• Acquisition of Balanced Health Botanicals
  • Village Farms International Inc. acquires Balanced Health Botanicals, a US-based producer of health and wellness products.
  • This strategic move strengthens Village Farms’ position in the US retail CBD market and leverages distribution channels and cultivation expertise.
  • The acquisition underscores the company’s commitment to expansion and market leadership.

Market Segmentation and Regional Dynamics
The CBD nutraceuticals market is segmented based on product, distribution channel, and application:

1. By Product:
   • CBD Tinctures
   • Capsules and Soft Gels
   • CBD-Based Protein
   • CBD Gummies
2. By Distribution Channel:
   • Retail Stores
   • Pharmacies
   • E-Commerce Portals
   • Other Distribution Channels
3. By Application:
   • Wellness
   • Workout Supplements
   • Edibles And Fortified Foods

• Regional Outlook:
  • North America dominates the CBD nutraceuticals market, driven by regulatory advancements and consumer demand.
  • Asia-Pacific emerges as the fastest-growing region, fueled by increasing health consciousness and regulatory changes.

Conclusion: Embracing the Future of CBD Nutraceuticals
As the CBD nutraceuticals market continues to evolve, driven by legalization, product innovations, and shifting consumer preferences, it presents immense opportunities for industry stakeholders. The integration of CBD into mainstream wellness and the expansion of product variety herald a new era in nutraceuticals. Strategic partnerships and acquisitions enhance market competitiveness and foster growth. With a focus on quality control measures, research, and development, the future of CBD nutraceuticals promises sustained expansion and improved consumer well-being. As regulatory landscapes evolve and consumer awareness grows, the journey towards holistic health and wellness through CBD nutraceuticals embarks on an exciting trajectory of innovation and discovery.

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