CBD-infused products market in 2021: COVID-19 impact and market size

Bethan Rose Jenkins, Cannabis News Writer/Editorial

Meticulous Market Research Pvt. Ltd., a trusted research firm that was established in 2010, has published a new market research report into the CBD-infused products space.

Over the last year or so, consumer, manufacturer and investor focus has been placed heavily on the CBD-infused products market. 

Aside from the obvious appeal of product innovation, consumers are also being drawn to this segment of the market as a direct effect of the coronavirus (COVID-19) pandemic.

The natural anti-inflammatory, antioxidant, anti-aging and analgesic effects of CBD make it an appealing choice for consumers who want to relieve stress and anxiety amid the health crisis, which has triggered a spike in cannabis product interest across much of the United States.

According to Meticulous Market Research’s global forecast of the CBD-infused products space between now and 2027, the market is expected to surge at a compound annual growth rate (CAGR) of 48.1 percent. Analysts predict that the market’s value will reach $165.7 billion by 2027. 

Key players in the CBD-infused products space

Based on the findings of this exclusive report by Meticulous Market Research Pvt. Ltd., the following industry players are paving the way for the CBD-infused products market:

  • Aphria, Inc. (Canada)
  • Aurora Cannabis Inc. (Canada)
  • Bhang Inc. (U.S.)
  • Cresco Labs, Inc. (U.S.)
  • CV Sciences, Inc. (U.S.)
  • Canopy Growth Corporation (Canada)
  • DT Brands & Co (N.I.) Ltd. (U.S.)
  • Docklight Brands, Inc. (U.S.)
  • Elixinol Global Limited (Australia)
  • Forest Coffee Trading Co. (U.S.)
  • G&Juice (U.S.)
  • GW Pharmaceuticals plc (U.K.)
  • Honeydrop Beverages Inc. (U.S.)
  • Kona Gold Solutions Inc. (U.S.)
  • Maricann Inc. (Canada)
  • MariMed Inc. (U.S.)
  • Puration, Inc. (U.S.)
  • Tauriga Sciences, Inc. (U.S.)
  • Tilray, Inc. (Canada)
  • VIVO Cannabis Inc. (Canada)

Other key takeaways from report on CBD-infused products space

In order to better understand what constitutes the greatest amount of market share for the CBD-infused products industry, analysts segmented distribution channels into two main categories: “online” and “offline” sources. The findings showed that offline stores accounted for the largest market share in 2020.

In terms of product type, the CBD-infused personal care products market is categorized as follows:

  • Skincare products
  • Haircare 
  • Deodorants 
  • Perfumes
  • Other personal care products. 

The findings revealed that the skincare products segment accounted for the largest market share in 2020.

Based on product type, the CBD-infused beverages market is categorized into “non-alcoholic beverages” and “alcoholic beverages,” with non-alcoholic beverages accounting for the largest market share in 2020.

Another key takeaway from this report into the CBD-infused product space highlighted how edibles claimed the top spot in terms of market share over other types of products, such as oils and extracts, personal care products, smoke & vape products, pet products, and supplements.

The report authors noted that CBD-infused products are categorized into two main “source” categories: hemp and cannabis. The hemp segment accounted for the largest market share last year.