CBD Products - Americas

Americas

The Americas is projected to reach a revenue of US$3.36bn in CBD Products by 2024.
The market is expected to grow annually at a rate of -0.06% (CAGR 2024-2029), reaching a volume of US$3.35bn by 2029.
In global comparison, the United States will lead in revenue generation with US$2,575.00m in 2024.
In terms of per person revenues, US$19.12 are generated in 2024 based on total population figures.
The United States is experiencing a surge in demand for CBD products, driving innovation and investment in the burgeoning cannabis market.

Key regions: Netherlands, Spain, United States, Europe, Australia

Market

Region

Region comparison

Currency

Analyst Opinion

The CBD Products market in Americas has been experiencing significant growth and development in recent years.

Customer preferences: Customers in the Americas are increasingly turning to CBD products due to their perceived health and wellness benefits. The growing trend towards natural remedies and alternative medicine has driven demand for CBD products across the region.

Trends in the market: In the United States, the largest market for CBD products in the Americas, there has been a surge in the availability of CBD-infused products ranging from oils and tinctures to edibles and skincare. This trend is fueled by changing regulations and increased awareness about the potential uses of CBD.

Local special circumstances: Canada, another key market in the Americas, has seen a rapid expansion of its CBD industry following the legalization of cannabis for both medical and recreational use. This has created a favorable environment for CBD companies to innovate and introduce new products to meet consumer demand.

Underlying macroeconomic factors: The economic stability and disposable income levels in the Americas have played a significant role in driving the growth of the CBD products market. As more consumers prioritize health and wellness, they are willing to spend on premium CBD products, contributing to the overall expansion of the market in the region.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.