Asia Pacific Cannabidiol Market Attracts Global Players and Startups

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The Asia Pacific cannabidiol (CBD) market was valued at USD 440.5 million in 2023 and is projected to grow at a robust compound annual growth rate (CAGR) of 24.1% from 2024 to 2030. This anticipated expansion is driven by increasing legalization and acceptance of hemp-based products, coupled with rising awareness of CBD’s potential health benefits. To meet the growing demand, manufacturers are developing a wide array of CBD-infused offerings such as edibles, topicals, and beverages. The rise of e-commerce platforms has further facilitated broader market reach and improved sales performance, significantly boosting the region’s CBD industry outlook.

Asia Pacific currently ranks as the third-largest region in the global cannabidiol market. CBD, a non-psychoactive compound derived from hemp, is available in various forms including capsules, oils, edibles, and vaping liquids. Companies such as Eos Scientific, through its Ambiance Cosmetics brand, have launched multiple product lines including CBD-infused oils, balms, and moisturizers. As consumer interest continues to grow, research and development activities have intensified, resulting in a more competitive landscape with a broader range of product offerings.

Despite this momentum, regulatory barriers remain a critical challenge in many Asian and African countries. These regions typically enforce strict prohibitions on cannabis-related products, even for medical purposes. Legal frameworks in countries like Indonesia impose severe penalties, including life imprisonment or even the death penalty, for those found in possession of illegal substances such as cannabis. These restrictions severely limit the growth of the medical cannabis market. In India, regulatory ambiguity persists, requiring patients to obtain special permissions for importing CBD-based medicines—making them expensive and less accessible.

 

Source Type Insights

Hemp-derived CBD led the market in 2023 with a revenue share of 77.2% and is expected to remain the fastest-growing segment. This dominance is attributed to rising demand from the pharmaceutical sector and increased consumer awareness of CBD’s health-related advantages. As the approval of cannabis-based treatments becomes more widespread, coupled with increased disposable income, demand for CBD-based pharmaceuticals is projected to rise. Consumers increasingly seek products such as oils, tinctures, capsules, topicals, and edibles—ranging from chocolates and gums to baked goods.

Hemp-derived CBD continues to gain popularity due to its anti-inflammatory, anti-aging, and antioxidant properties. Its applications span various industries including pharmaceuticals, nutraceuticals, cosmetics, and the food and beverage sector, where companies are incorporating it into wellness-focused products. These dynamics are expected to drive significant future growth in this category.

 

Order a free sample PDF of the Asia Pacific Cannabidiol Market Intelligence Study, published by Grand View Research.

 

End-use Insights

In the B2B space, the pharmaceutical sector accounted for the largest revenue share of 64.7% in 2023. This segment is anticipated to witness strong growth, driven by the rising number of clinical trials evaluating CBD’s effectiveness in treating various conditions. Many companies are procuring CBD in bulk to develop new formulations aimed at managing pain, anxiety, and stress—further accelerating product adoption and market expansion.

The shift of CBD from a herbal remedy to a recognized pharmaceutical ingredient is also expected to contribute to market growth. With increasing recognition of its therapeutic properties, demand for CBD in the healthcare and pharmaceutical industries is expected to remain strong.

 

Key Cannabidiol Company Insights

Leading CBD companies are implementing strategies such as distribution alliances and product innovation to strengthen their market presence. For instance, in October 2022, Charlotte's Web Holdings, Inc. entered into a distribution agreement with Gopuff Retail Company. Such partnerships enable firms to enhance product accessibility, diversify offerings, and optimize operations. Innovation and technological advancement remain central to the strategies of prominent players in this space as they aim to expand their customer base and gain a competitive edge.

 

Key Asia Pacific Cannabidiol Companies:

  • Aurora Cannabis
  • Tilray
  • CV Sciences, Inc.
  • Charlotte’s Web
  • Canopy Growth Corporation
  • Maricann, Inc.
  • Organigram Holding, Inc.
  • Isodiol International, Inc.
  • Elixinol
  • NuLeaf Naturals, LLC
  • Cannoid, LLC
  • Endoca

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

 

Conclusion

The Asia Pacific cannabidiol market is poised for remarkable growth, propelled by increasing legalization efforts, consumer awareness, and expanding product portfolios. While regulatory challenges remain in certain countries, the overall market landscape is evolving in favor of CBD adoption, particularly in pharmaceuticals and wellness sectors. As more companies invest in innovation and strategic partnerships, the region is expected to emerge as a significant player in the global CBD industry.

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