The CBD industry is growing rapidly

The market is expected to expand at a CAGR of 16.8% from 2024 to 2030. Increasing awareness regarding the health benefits of cannabidiol (CBD), changing consumer opinion, and the attitude toward CBD products are some of the key factors driving the demand for these products. As reported by Global Market Insights, the CBD sector in the US alone was a total of $12.8 million in 2024. With sales expected to hit $56.3 million by 2028. North America accounted for the largest revenue share in 2024 and is expected to maintain its lead over the forecast period. Favorable regulations, increasing awareness about CBD oil, growing consumer preference, and a rise in the number of manufacturers are the factors expected to fuel market growth in the region.