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The Global Cannabidiol Market is estimated to be USD 2.3 Bn in 2020 and is expected to reach USD 5.37 Bn by 2025, growing at a CAGR of 18.5%.
Market Dynamics
The antibiotic and analgesic effects & properties present in Cannabidiol, which can be used to treat a variety of ailments such as anxiety, nausea, stress, chronic pain, neurological conditions, and seizures, are likely to contribute to the growth of the market.
Growing medical applications of CBD, growing R&D in medical cannabis, and increasing product adoption and utilization due to government approvals bolstered the market growth for Cannabidiol. Changing regulatory landscape and legalization for approval of CBD-based products globally is also expected to propel the market growth.