CBD Patches Market
CBD Patches Market Analysis, By Source (Hemp, Cannabis), By Product Type (Matrix Patches, Reservoir Patches, Drug-In-Adhesive Patches), By Function (Inflammation & Pain, Anxiety, Knee Osteoarthritis, Others), By Sales Channel (Offline, Online), & Region - Global Market Insights 2023 to 2033
Analysis of CBD Patches Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
CBD Patches Market Outlook (2023 to 2033)
The global CBD patches market is expected to reach US$ 124.6 million in 2023 and surge ahead at a CAGR of 18.7% to end up at a market size of US$ 691.9 million by 2033.
The market is still in the growing phase of PLC, which contributes around 12% share of the CBD topical market. However, the revealing benefits and adoption of transdermal drug delivery will uplift the sales of CBD patches over the coming years.
Over the 2018 to 2022 historical period, the global market for CBD patches registered a CAGR of 23.6%, according to Fact.MR, a market research and competitive intelligence provider.
The presence of strict regulations against CBD (Cannabidiol) and its products restricted the growth of the market during the historical period to some extent. However, the rising use and benefits of CBD in industries such as food and beverages, recreational, pharmaceuticals, cosmetics, and personal care boosted the approvals of CBD products. This factor has opened the doors for the sales of CBD patches across regions.
Furthermore, research and survey studies on CBD patches have driven product acceptance in the past years. The emergence of new market players and ease of product availability from the manufacturers’ end has helped create a strong customer base in the market. Subsequently, the sale of CBD patches has observed upward growth.
The market will witness remarkable growth during the forecast period owing to a rise in product awareness and availability in developing and emerging economies. Apart from that, the growing prevalence of patients with anxiety, depression, and chronic pain will provide a substantial pace to market growth over the coming years.
The market will observe high growth in the near term owing to the lack of approvals and CBD acceptance in regions such as Asia Pacific. Additionally, the lack of product manufacturers across developed countries will also slow down product sales in the near future.
Lastly, it is projected that the market will see remarkable growth during the latter part of the forecast period due to growth in the trade of CBD products across the world.
| Report Attributes | Details |
|---|---|
| CBD Patches Market Size (2022A) | US$ 105 Million |
| Estimated Market Value (2023E) | US$ 124.6 Million |
| Forecasted Market Value (2033F) | US$ 691.9 Million |
| Global Market Growth Rate (2023 to 2033) | 18.7% CAGR |
| North America Market Share (2022) | ~ 43.3% |
| Asia Pacific Market Growth Rate (2023 to 2033) | ~ 21.3% CAGR |
| United States Market Growth Rate (2023 to 2033) | ~ 13.8% CAGR |
| Market Share of Top 5 Companies | ~ 31.2% |
| Key Companies Profiled | NENO'S Naturals; Always pure organics; Pure Ratio Wellness; Mary’s Medicinals; CBD British Cannabis; Atlas Thrive; Pure Kana; Pacific Roots; Essentia Pura |
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Why is Demand for CBD Patches Surging across the World?
“Mounting Mental Health Issues & Rising Health-Conscious Population Pool’’
The global population is facing the increasing prevalence of various physical as well as mental disease conditions such as acute & chronic pain, anxiety, depression, osteoporosis, etc. For instance, in the U.K. in 2020, around 28 million people were affected by chronic pain (NHS), 6 million suffer from anxiety, and more than 80% of adults observed a high level of stress. In consideration of the aforementioned factor, there are various studies that have proved the anti-inflammatory, anti-seizure, and pain-reliving properties of Cannabidiol. This has helped elevate the acceptance of CBD patches as a reliable solution in many countries.
In addition, more than 30% of U.K. adults and around 50% of people aged 18-34 years are believed to use CBD over other prescription drugs to better their mental health. This indicates the rising interest in the use of CBD and CBD patches among the population. Thus, it is anticipated that the acceptance and demand for CBD patches will also increase in developing countries, which will further support overall market growth.
“Environment-friendly Hemp Farming and Emergence of CBD Patches as Natural Alternative”
As hemp contains more amounts of CBD, increasing hemp farming will support the manufacturing of CBD patches and promote market growth. Hemp farming is beneficial for the environment as it helps decrease toxicity, eradicate radioactive chemicals, and helps restore damaged soil.
Additionally, hemp farming also helps protect the environment through bioremediation; it consumes four times as much CO2 as trees. Hence, increasing hemp farming is directly proportional to the rise in the manufacturing of CBD products, which also include CBD patches.
How is Market Progress being Negatively Affected?
“Occurrence of Allergic Reaction Due to Use of CBD Patches”
CBD patches have several benefits over other medications but also have some drawbacks that hinder their acceptance in the market over other CBD topicals. CBD patches affect people with sensitive skin owing to the cause of irritation while adhesion.
Additionally, it has been seen that many companies use a chemical carrier for their patches to increase CBD penetration into the skin. This can generate an allergic reaction in some patients.
Moreover, strict licensing regulations for the manufacturing and sale of CBD products are an obstacle for market players who are looking to enter the marketplace. Apart from this, the complexity of the import-export of CBD products hinders global market expansion to some extent.
Market share analysis of CBD patches based on product type and region. Under the product type segment, reservoir CBD patches lead with 48.6% market share.
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Country-wise Insights
Will High Awareness of CBD and Product Approvals Drive Demand for CBD Patches in the U.S.?
The U.S. market is expected to expand at a CAGR of 13.8% during the forecast period. The United States is the fastest-growing market for CBD patches owing to high awareness regarding the health benefits of CBD and the rising prevalence of mental illnesses such as anxiety, depression, and stress.
For instance, in the year 2022, more than 60% of Americans used CBD for pain and more than 40% of people used CBD for anxiety and depression. It is anticipated that the U.S. will follow the same trend during the forecast period.
Apart from this, the U.S. is a hub for CBD patch manufacturers due to the ease of product approvals and strong customer base. Additionally, the presence of CBD specialty stores helps escalate the sale of CBD patches in the country.
Why is the Market in Asia Pacific Countries Expected to Be Highly Opportunistic?
Australia is a key contributor to the growth of the market in the Asia Pacific region. The market in Australia is anticipated to expand at a CAGR of 18.3% from 2023 to 2033. The country is highly involved in the development of medicinal cannabis. In the year 2016, Australia established a novel national body that can dispute licenses to cultivators and legalize medicinal cannabis crops.
Apart from Australia, countries such as China, Japan, and India are also focusing on the consideration of CBD for medicinal purposes. Thus, it is projected that the CBD patches market will get strong attention in Asia Pacific countries over the coming years.
Category-wise Insights
Which Type of CBD Patch is Estimated to Drive High Market Growth?
Three main types of CBD patches are available in the market - matrix patches, reservoir patches, and drug-in-adhesive patches. The reservoir CBD patches segment is projected to expand at a compound annual growth rate of 13.3% during the projected period and is anticipated to hold more than 40% value share of the market by 2033.
Reservoir patches are made up of four layers - peel-off, adhesive, protective, and importantly reservoir’s permeable release membrane. Reservoir patches are high in popularity owing to the delivery of accurate dosage over a longer period. Additionally, they release a measured amount of CBD throughout the day, which is not dependent on the surface area, making them different from matrix patches.
Through Which Channel is Sales of CBD Patches Gaining Ground?
CBD patches are available in the market through offline and online sales channels. Online sales channels are a highly preferable purchase option for customers owing to high product availability on e-Commerce platforms as well as the websites of companies. The online sales channel segment is expected to account for more than 55% market value share in 2023 and expand at a CAGR of 16.8% during the assessment period.
Moreover, the presence of some websites that provide CBD patches wholesale opens up a lot of product options for customers at a lower price. Under the online sales channel, companies provide subscriptions for the product, which helps gain customer attention and increase product sales.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
Prominent CBD patch manufacturers are NENO'S Naturals, Always pure organics, Pure Ratio Wellness, Mary’s Medicinals, Essentia Pura, CBD British Cannabis, Atlas Thrive, Pure Kana, and Pacific Roots.
In the CBD patches space, the intensity of competition is moderate to high owing to the presence of several brands on online and offline sales channels that are offering similar products. Established market players have an advantage of brand expansion as they are well-known in the market.
Additionally, market players are also providing subscriptions for CBD patches through their websites. Emerging and mid-level manufacturers are competing with each other through product launches to create a space in the market.
- In September 2021, Neno's Naturals CBD (also known as "Neno's CBD"), a vertically integrated cannabis company that has excellent retail locations and a processing and manufacturing facility, announced the launch of its CBD product line, which also includes CBD patches.
- In June 2021, Always Pure Organics announced its business expansion by expanding 10,000 square feet of warehouse.
Fact.MR has provided detailed information about the price points of key manufacturers of CBD patches positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of CBD Patches Industry Research
-
By Source :
- Hemp
- Cannabis
-
By Product Type :
- Matrix patch
- Reservoir patch
- Drug-in-adhesive patch
-
By Function :
- Inflammation and Pain
- Anxiety
- Knee Osteoarthritis
- Others
-
By Sales Channel :
- Offline
- Drug Stores
- Convenience Stores
- Specialty Stores
- Online
- e-Commerce Platforms
- Company Websites
- Offline
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Market - Executive Summary
- 2. Market Overview
- 3. Market Background and Foundation Data
- 4. Global Market Value (US$ Million) Analysis and Forecast
- 5. Global Market Analysis and Forecast, By Source
- 5.1. Hemp
- 5.2. Cannabis
- 6. Global Market Analysis and Forecast, By Product Type
- 6.1. Matrix patch
- 6.2. Reservoir patch
- 6.3. Drug-in-adhesive patch
- 7. Global Market Analysis and Forecast, By Function
- 7.1. Inflammation and Pain
- 7.2. Anxiety
- 7.3. Knee Osteoarthritis
- 7.4. Others
- 8. Global Market Analysis and Forecast, By Sales Channel
- 8.1. Offline
- 8.1.1. Drug Store
- 8.1.2. Convenience stores
- 8.1.3. Specialty Stores
- 8.2. Online
- 8.2.1. E-commerce Platforms
- 8.2.2. Company Website
- 8.1. Offline
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Europe
- 9.4. APAC
- 9.5. Middle East & Africa
- 10. North America Market Analysis and Forecast
- 11. Latin America Market Analysis and Forecast
- 12. Europe Market Analysis and Forecast
- 13. APAC Market Analysis and Forecast
- 14. Middle East & Africa Market Analysis and Forecast
- 15. Country-level Market Analysis and Forecast
- 16. Market Structure Analysis
- 17. Competition Analysis
- 17.1. NENO'S Naturals
- 17.2. Always Pure Organics
- 17.3. Pure Ratio Wellness
- 17.4. Mary’s Medicinals
- 17.5. Essentia Pura
- 17.6. CBD British Cannabis
- 17.7. Atlas Thrive
- 17.8. Pure Kana
- 17.9. Pacific Roots
- 18. Assumptions & Acronyms Used
- 19. Research Methodology
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List Of Table
Table 01: Global Market Value (USD Million) and Forecast by Region, 2018 to 2022
Table 02: Global Market Value (USD Million) and Forecast by Region, 2023 to 2033
Table 03: Global Market Value (USD Million) and Forecast by Source, 2018 to 2022
Table 04: Global Market Value (USD Million) and Forecast by Source, 2023 to 2033
Table 05: Global Market Value (USD Million) and Forecast by Product Type, 2018 to 2022
Table 06: Global Market Value (USD Million) and Forecast by Product Type, 2023 to 2033
Table 07: Global Market Value (USD Million) and Forecast by Function, 2018 to 2022
Table 08: Global Market Value (USD Million) and Forecast by Function, 2023 to 2033
Table 09: Global Market Value (USD Million) and Forecast by Sales Channel, 2018 to 2022
Table 10: Global Market Value (USD Million) and Forecast by Sales Channel, 2023 to 2033
Table 11: North America Market Value (USD Million) and Forecast by Country, 2018 to 2022
Table 12: North America Market Value (USD Million) and Forecast by Country, 2023 to 2033
Table 13: North America Market Value (USD Million) and Forecast by Source, 2018 to 2022
Table 14: North America Market Value (USD Million) and Forecast by Source, 2023 to 2033
Table 15: North America Market Value (USD Million) and Forecast by Product Type, 2018 to 2022
Table 16: North America Market Value (USD Million) and Forecast by Product Type, 2023 to 2033
Table 17: North America Market Value (USD Million) and Forecast by Function, 2018 to 2022
Table 18: North America Market Value (USD Million) and Forecast by Function, 2023 to 2033
Table 19: North America Market Value (USD Million) and Forecast by Sales Channel, 2018 to 2022
Table 20: North America Market Value (USD Million) and Forecast by Sales Channel, 2023 to 2033
Table 21: Latin America Market Value (USD Million) and Forecast by Country, 2018 to 2022
Table 22: Latin America Market Value (USD Million) and Forecast by Country, 2023 to 2033
Table 23: Latin America Market Value (USD Million) and Forecast by Source, 2018 to 2022
Table 24: Latin America Market Value (USD Million) and Forecast by Source, 2023 to 2033
Table 25: Latin America Market Value (USD Million) and Forecast by Product Type, 2018 to 2022
Table 26: Latin America Market Value (USD Million) and Forecast by Product Type, 2023 to 2033
Table 27: Latin America Market Value (USD Million) and Forecast by Function, 2018 to 2022
Table 28: Latin America Market Value (USD Million) and Forecast by Function, 2023 to 2033
Table 29: Latin America Market Value (USD Million) and Forecast by Sales Channel, 2018 to 2022
Table 30: Latin America Market Value (USD Million) and Forecast by Sales Channel, 2023 to 2033
Table 31: Europe Market Value (USD Million) and Forecast by Country, 2018 to 2022
Table 32: Europe Market Value (USD Million) and Forecast by Country, 2023 to 2033
Table 33: Europe Market Value (USD Million) and Forecast by Source, 2018 to 2022
Table 34: Europe Market Value (USD Million) and Forecast by Source, 2023 to 2033
Table 35: Europe Market Value (USD Million) and Forecast by Product Type, 2018 to 2022
Table 36: Europe Market Value (USD Million) and Forecast by Product Type, 2023 to 2033
Table 37: Europe Market Value (USD Million) and Forecast by Function, 2018 to 2022
Table 38: Europe Market Value (USD Million) and Forecast by Function, 2023 to 2033
Table 39: Europe Market Value (USD Million) and Forecast by Sales Channel, 2018 to 2022
Table 40: Europe Market Value (USD Million) and Forecast by Sales Channel, 2023 to 2033
Table 41: APAC Market Value (USD Million) and Forecast by Country, 2018 to 2022
Table 42: APAC Market Value (USD Million) and Forecast by Country, 2023 to 2033
Table 43: APAC Market Value (USD Million) and Forecast by Source, 2018 to 2022
Table 44: APAC Market Value (USD Million) and Forecast by Source, 2023 to 2033
Table 45: APAC Market Value (USD Million) and Forecast by Product Type, 2018 to 2022
Table 46: APAC Market Value (USD Million) and Forecast by Product Type, 2023 to 2033
Table 47: APAC Market Value (USD Million) and Forecast by Function, 2018 to 2022
Table 48: APAC Market Value (USD Million) and Forecast by Function, 2023 to 2033
Table 49: APAC Market Value (USD Million) and Forecast by Sales Channel, 2018 to 2022
Table 50: APAC Market Value (USD Million) and Forecast by Sales Channel, 2023 to 2033
Table 51: MEA Market Value (USD Million) and Forecast by Country, 2018 to 2022
Table 52: MEA Market Value (USD Million) and Forecast by Country, 2023 to 2033
Table 53: MEA Market Value (USD Million) and Forecast by Source, 2018 to 2022
Table 54: MEA Market Value (USD Million) and Forecast by Source, 2023 to 2033
Table 55: MEA Market Value (USD Million) and Forecast by Product Type, 2018 to 2022
Table 56: MEA Market Value (USD Million) and Forecast by Product Type, 2023 to 2033
Table 57: MEA Market Value (USD Million) and Forecast by Function, 2018 to 2022
Table 58: MEA Market Value (USD Million) and Forecast by Function, 2023 to 2033
Table 59: MEA Market Value (USD Million) and Forecast by Sales Channel, 2018 to 2022
Table 60: MEA Market Value (USD Million) and Forecast by Sales Channel, 2023 to 2033
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List Of Figures
Figure 01: Global Market Value (USD Million) Forecast, 2023 to 2033
Figure 02: Global Market Absolute $ Opportunity (USD Million), 2023 to 2033
Figure 03: Global Market Value (USD Million) by Region, 2023 & 2033
Figure 04: Global Market Y-o-Y Growth Rate by Region, 2023 to 2033
Figure 05: Global Market Value (USD Million) by Source, 2023 & 2033
Figure 06: Global Market Y-o-Y Growth Rate by Source, 2023 to 2033
Figure 07: Global Market Value (USD Million) by Product Type, 2023 & 2033
Figure 08: Global Market Y-o-Y Growth Rate by Product Type, 2023 to 2033
Figure 09: Global Market Value (USD Million) by Function, 2023 & 2033
Figure 10: Global Market Y-o-Y Growth Rate by Function, 2023 to 2033
Figure 11: Global Market Value (USD Million) by Sales Channel, 2023 & 2033
Figure 12: Global Market Y-o-Y Growth Rate by Sales Channel, 2023 to 2033
Figure 13: North America Market Value (USD Million) Forecast, 2023 to 2033
Figure 14: North America Market Absolute $ Opportunity (USD Million), 2023 to 2033
Figure 15: North America Market Value (USD Million) by Country, 2023 & 2033
Figure 16: North America Market Y-o-Y Growth Rate by Country, 2023 to 2033
Figure 17: North America Market Value (USD Million) by Source, 2023 & 2033
Figure 18: North America Market Y-o-Y Growth Rate by Source, 2023 to 2033
Figure 19: North America Market Value (USD Million) by Product Type, 2023 & 2033
Figure 20: North America Market Y-o-Y Growth Rate by Product Type, 2023 to 2033
Figure 21: North America Market Value (USD Million) by Function, 2023 & 2033
Figure 22: North America Market Y-o-Y Growth Rate by Function, 2023 to 2033
Figure 23: North America Market Value (USD Million) by Sales Channel, 2023 & 2033
Figure 24: North America Market Y-o-Y Growth Rate by Sales Channel, 2023 to 2033
Figure 25: North America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 26: North America Market Attractiveness Analysis by Source, 2023 to 2033
Figure 27: North America Market Attractiveness Analysis by Product Type, 2023 to 2033
Figure 28: North America Market Attractiveness Analysis by Function, 2023 to 2033
Figure 29: North America Market Attractiveness Analysis by Sales Channel, 2023 to 2033
Figure 30: Latin America Market Value (USD Million) Forecast, 2023 to 2033
Figure 31: Latin America Market Absolute $ Opportunity (USD Million), 2023 to 2033
Figure 32: Latin America Market Value (USD Million) by Country, 2023 & 2033
Figure 33: Latin America Market Y-o-Y Growth Rate by Country, 2023 to 2033
Figure 34: Latin America Market Value (USD Million) by Source, 2023 & 2033
Figure 35: Latin America Market Y-o-Y Growth Rate by Source, 2023 to 2033
Figure 36: Latin America Market Value (USD Million) by Product Type, 2023 & 2033
Figure 37: Latin America Market Y-o-Y Growth Rate by Product Type, 2023 to 2033
Figure 38: Latin America Market Value (USD Million) by Function, 2023 & 2033
Figure 39: Latin America Market Y-o-Y Growth Rate by Function, 2023 to 2033
Figure 40: Latin America Market Value (USD Million) by Sales Channel, 2023 & 2033
Figure 41: Latin America Market Y-o-Y Growth Rate by Sales Channel, 2023 to 2033
Figure 42: Latin America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 43: Latin America Market Attractiveness Analysis by Source, 2023 to 2033
Figure 44: Latin America Market Attractiveness Analysis by Product Type, 2023 to 2033
Figure 45: Latin America Market Attractiveness Analysis by Function, 2023 to 2033
Figure 46: Latin America Market Attractiveness Analysis by Sales Channel, 2023 to 2033
Figure 47: Europe Market Value (USD Million) Forecast, 2023 to 2033
Figure 48: Europe Market Absolute $ Opportunity (USD Million), 2023 to 2033
Figure 49: Europe Market Value (USD Million) by Country, 2023 & 2033
Figure 50: Europe Market Y-o-Y Growth Rate by Country, 2023 to 2033
Figure 51: Europe Market Value (USD Million) by Source, 2023 & 2033
Figure 52: Europe Market Y-o-Y Growth Rate by Source, 2023 to 2033
Figure 53: Europe Market Value (USD Million) by Product Type, 2023 & 2033
Figure 54: Europe Market Y-o-Y Growth Rate by Product Type, 2023 to 2033
Figure 55: Europe Market Value (USD Million) by Function, 2023 & 2033
Figure 56: Europe Market Y-o-Y Growth Rate by Function, 2023 to 2033
Figure 57: Europe Market Value (USD Million) by Sales Channel, 2023 & 2033
Figure 58: Europe Market Y-o-Y Growth Rate by Sales Channel, 2023 to 2033
Figure 59: Europe Market Attractiveness Analysis by Country, 2023 to 2033
Figure 60: Europe Market Attractiveness Analysis by Source, 2023 to 2033
Figure 61: Europe Market Attractiveness Analysis by Product Type, 2023 to 2033
Figure 62: Europe Market Attractiveness Analysis by Function, 2023 to 2033
Figure 63: Europe Market Attractiveness Analysis by Sales Channel, 2023 to 2033
Figure 64: APAC Market Value (USD Million) Forecast, 2023 to 2033
Figure 65: APAC Market Absolute $ Opportunity (USD Million), 2023 to 2033
Figure 66: APAC Market Value (USD Million) by Country, 2023 & 2033
Figure 67: APAC Market Y-o-Y Growth Rate by Country, 2023 to 2033
Figure 68: APAC Market Value (USD Million) by Source, 2023 & 2033
Figure 69: APAC Market Y-o-Y Growth Rate by Source, 2023 to 2033
Figure 70: APAC Market Value (USD Million) by Product Type, 2023 & 2033
Figure 71: APAC Market Y-o-Y Growth Rate by Product Type, 2023 to 2033
Figure 72: APAC Market Value (USD Million) by Function, 2023 & 2033
Figure 73: APAC Market Y-o-Y Growth Rate by Function, 2023 to 2033
Figure 74: APAC Market Value (USD Million) by Sales Channel, 2023 & 2033
Figure 75: APAC Market Y-o-Y Growth Rate by Sales Channel, 2023 to 2033
Figure 76: APAC Market Attractiveness Analysis by Country, 2023 to 2033
Figure 77: APAC Market Attractiveness Analysis by Source, 2023 to 2033
Figure 78: APAC Market Attractiveness Analysis by Product Type, 2023 to 2033
Figure 79: APAC Market Attractiveness Analysis by Function, 2023 to 2033
Figure 80: APAC Market Attractiveness Analysis by Sales Channel, 2023 to 2033
Figure 81: MEA Market Value (USD Million) Forecast, 2023 to 2033
Figure 82: MEA Market Absolute $ Opportunity (USD Million), 2023 to 2033
Figure 83: MEA Market Value (USD Million) by Country, 2023 & 2033
Figure 84: MEA Market Y-o-Y Growth Rate by Country, 2023 to 2033
Figure 85: MEA Market Value (USD Million) by Source, 2023 & 2033
Figure 86: MEA Market Y-o-Y Growth Rate by Source, 2023 to 2033
Figure 87: MEA Market Value (USD Million) by Product Type, 2023 & 2033
Figure 88: MEA Market Y-o-Y Growth Rate by Product Type, 2023 to 2033
Figure 89: MEA Market Value (USD Million) by Function, 2023 & 2033
Figure 90: MEA Market Y-o-Y Growth Rate by Function, 2023 to 2033
Figure 91: MEA Market Value (USD Million) by Sales Channel, 2023 & 2033
Figure 92: MEA Market Y-o-Y Growth Rate by Sales Channel, 2023 to 2033
Figure 93: MEA Market Attractiveness Analysis by Country, 2023 to 2033
Figure 94: MEA Market Attractiveness Analysis by Source, 2023 to 2033
Figure 95: MEA Market Attractiveness Analysis by Product Type, 2023 to 2033
Figure 96: MEA Market Attractiveness Analysis by Function, 2023 to 2033
Figure 97: MEA Market Attractiveness Analysis by Sales Channel, 2023 to 2033
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How fast did the market expand from 2018 to 2022?
Over the past four years, sales of CBD patches increased at 18.7% CAGR.
How big is the global CBD patches market size?
The global CBD patches market is anticipated to be valued at US$ 124.6 million in 2023.
Which type of CBD patches are most sought-after?
Reservoir CBD patches will account for 48.6% share of global sales in 2023.
Which regional market accounts for a leading share?
North America tops the global CBD patches market with 43.3% market share in 2023.
How is the market for CBD patches expected to fare going forward?
Worldwide demand for CBD patches is anticipated to reach US$ 691.9 million by 2033 end.
CBD Patches Market