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CBD market projections worldwide

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Expand your product line with your very own brand of CBD oil, creams or patches and take part in the fastest growing market today!

You can be up and running within five weeks, which is our lead time, once we've received your artwork.

Market projections to keep in mind: Although North America is currently the largest medical cannabis market in the world and projected to reach US$37.9 billion in 2024, Europe is forecast to surpass it by reaching US$39.1 billion in the same year.

This is a very big pie and leaves a lot of room to build brand and take a slice of the pie. The size of that slice depends on you.

If you have any quetions, please don't hesitate to get in touch and we will be more than happy to answer andy enquiries.

Email us at info@greenbeamlife.com

top ten cannabis companies

Market Overview

1) Canada and the US are driving the market through a growing array of cannabis-infused consumer goods, most notably in beauty and food.

2) Front-running companies are those with firstmover advantage, large equity investment and those actively acquiring smaller firms.

3) The majority of the world’s largest cannabis producers by market cap are based in Canada.

At the time some 410 cannabis companies were listed on stock exchanges around the world, and include firms involved in cannabis horticulture, pharmaceutical research and ancillary businesses.

Those companies with the greatest market value are largely concentrated in the most mature region for the industry, North America.

Despite the fact that the United Kingdom (UK) legalised medicinal cannabis only at the end of 2018, UK company GW Pharma takes its place amongst the top ten companies.

Legal cannabis market value

It's estimated that the global legal cannabis market to be worth US$103.9 billion by 2024.

Europewill dominate the market, accounting for US$39.1 billion here. Although having a significantly lesser population, the North America/Canada region will follow closely with a total market value of US$37.9 billion, owing to the fact that the markets are more mature there in two key respects:

• Overall patient numbers and medical cannabis access programmes are more advanced in North America and Canada. Our modelling accounts for the historical trend for patient numbers to increase over a period of 24 months post-legalisation. Most European countries are at an earlier point on the growth curve.

• The path towards legalisation of recreational cannabis is also more advanced in states within the US. The EU has yet to fully legalise recreational cannabis in any country.

Recreational cannabis market value

The total estimated value of the legal recreational cannabis market in 2024 is US$41.2 billion.

Regional patterns here are similar to the medical market, with some key differences:

• In 2024, the size of the legal recreational market in the US and Canada will be greater than in Europe (US$17.7 billion versus US$16.8 billion). This is attributable to the fact that 100% of states in the US are predicted to have legalised by the end of the forecast period, whereas in Europe this is predicted to be the case for 43% of countries.

• Asia is similar to Oceania and Africain having a low market size, due to the lower probability of many Asian countries legalising recreational cannabis during the forecast period.

CBD oil market forecast

CBD Oil Market by Forecast 2020-2024

The CBD oil market size will grow by $3.52 billion during 2020-2024. The market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

CBD oil products are known to cure various ailments in the human body. They have anti-inflammatory properties that helps in alleviating chronic inflammation and pain in the body. It is also recommended by various physicians as a treatment for various chronic conditions such as fibromyalgia and multiple sclerosis. It minimizes the effects of drug withdrawal symptoms in individuals and helps them cope with mood swings, pain, insomnia, and anxiety. Such health benefits of CBD oil are expected to fuel the demand of the product, thereby driving the market growth during the forecast period.

The market is driven by the health benefits of CBD oil. In addition, the growing legalization of cannabis-based products is anticipated to further boost the growth of the CBD oil market.

CBD ecommerce sales

CBD E-Commerce Sales are Booming with the World Battling COVID-19

With the spread of COVID-19, CBD e-commerce sales have been explosive. In fact, a new survey from the Brightfield Group suggests up to 40% of consumers plan to use CBD far more frequently because of COVID-19, with 15% planning to use a higher dose, as highlighted by Food Navigator USA.

“There is no question that with much of the country recommending to shelter at home and a pandemic sweeping the globe, anxiety levels are skyrocketing,” says Brightfield Group’s managing director Bethany Gomez. “Anxiety is the #1 ailment of CBD users - 53% of them report it. Depression and insomnia, which likely to spike over the coming months, are #3 & 4. For those that truly need CBD and are relying on it for their health and wellbeing, consumption is expected to continue or increase.”

In addition, the analysts found that many consumers are also turning to self-care indulgences, which is likely to boost some of the CBD self-care products, as well

Cannabis charity work

5% of our profit is donated to charity

We have partnered with Eden Reforestation Projects which is an NGO that works with local communities to restore forests on a massive scale, thereby creating jobs, protecting ecosystems and helping mitigate climate change.

One of the best things we can do to fight climate change is plant trees.