Top 10 Cannabidiol Brands | Possible Health Advantages

Trishita Deb
Trishita Deb

Updated · May 6, 2024

SHARE:

At Market.us Media, we strive to bring you the most accurate and up-to-date information by utilizing a variety of resources, including paid and free sources, primary research, and phone interviews. Learn more.
close
Advertiser Disclosure

At Market.us Media, we strive to bring you the most accurate and up-to-date information by utilizing a variety of resources, including paid and free sources, primary research, and phone interviews. Our data is available to the public free of charge, and we encourage you to use it to inform your personal or business decisions. If you choose to republish our data on your own website, we simply ask that you provide a proper citation or link back to the respective page on Market.us Media. We appreciate your support and look forward to continuing to provide valuable insights for our audience.

Cannabidiol Market Overview

Cannabidiol, i.e., CBD, a non-psychoactive component sourced from cannabis, has garnered interest due to its possible health advantages.

Studies indicate CBD could alleviate discomfort, stress, swelling, and neurological ailments. Legal standing differs, favoring hemp-derived CBD in many cases.

Despite obstacles in regulation, the CBD sector has flourished, propelled by consumer demand for holistic wellness solutions.

Ongoing research and evolving regulations are expected to propel CBD’s medicinal prospects, fostering growth in diverse sectors.

Market Drivers

Multiple factors are pushing the global CBD market’s growth. Firstly, increasing awareness and acceptance of CBD’s health benefits, such as pain and anxiety relief, spur consumer demand.

Favorable regulatory shifts towards CBD legalization and its broader use in medical and wellness sectors aid market expansion.

The widespread availability of CBD-infused products in diverse industries, from healthcare to pet care, boosts market accessibility.

Additionally, advancements in extraction, formulation, and delivery methods improve product efficacy and consumer satisfaction, driving market growth.

Lastly, heightened investments and strategic collaborations among industry leaders encourage innovation and propel the global CBD market forward.

Market Size

In 2023, the global Cannabidiol Market Size reached USD 7.6 billion, projected to expand to approximately USD 36.6 billion by 2033.

During the period from 2023 to 2032, it is expected to experience a remarkable Compound Annual Growth Rate (CAGR) of 27%.

List of Major Companies

These are the top ten companies operating in the Cannabidiol Market:

Charlotte-Web

Company Overview

Establishment Year2013
HeadquarterColorado, U.S.
Key ManagementBill Morachnick (CEO)
Revenue (US$ Bn)$ 63.2. Billion (2023)
Headcount~ 164 (2023)
Websitehttps://www.charlottesweb.com/

About Charlotte’s Web Holdings

Charlotte’s Web Holdings Inc., a significant player in the cannabidiol sector, experienced financial setbacks in 2023, with net revenue decreasing to $63.2 million from $74.1 million the previous year due to lower sales in both direct-to-consumer and business-to-business channels.

However, the company managed to achieve notable distribution gains in the Natural Products Retail channel, maintaining its lead in market share according to SPINs, LLC and IRI metrics.

To address these challenges, Charlotte’s Web implemented expense controls, including amortizing costs related to its MLB licensing, resulting in a reduction in overall selling, general, and administrative expenses.

The company saw an improvement in its fourth-quarter net loss, decreasing it to $8.5 million from $35.2 million year-over-year.

Additionally, Charlotte’s Web has prioritized operational efficiencies, such as insourcing production, to further cut costs as part of its strategy to navigate the changing CBD market landscape.

Geographical Presence

Charlotte’s Web Holdings Inc. has a widespread geographical presence, with operations spanning across various regions.

The company’s footprint extends across North America, including the United States and Canada, where it distributes its cannabidiol (CBD) products to consumers and businesses.

Additionally, Charlotte’s Web has established a global presence through its online platform, allowing customers worldwide to access its products.

This expansive geographical presence enables the company to reach diverse markets and cater to the growing demand for CBD products across different regions.

Recent Developments

  • In May 2023, Charlotte’s Web Holdings expanded its reach by partnering with Phillips Pet Food & Supplies, the largest distributor in America’s pet specialty retail channel. Phillips Pet Food & Supplies serves over 6,000 retailers across more than 14,000 locations.
  • In April 2023, Charlotte’s Web Holdings established a joint venture with AJNA BioSciences, a company specializing in botanical drug development for mental health and neurological disorders.

CV-Sciences

Company Overview

Establishment Year2010
HeadquarterSan Diego, California, U.S.
Key ManagementJoe Dowling (CEO)
Revenue (US$ Bn)$ 16.0 M (2023)
Headcount~ 43 (2023)
Websitehttps://www.cvsciences.com/

About CV Sciences

CV Sciences Inc. experienced a slight decrease in total annual revenue in 2023, earning $16.0 million compared to $16.2 million in 2022.

Despite this minor decline, the company has been actively expanding its product offerings. Notably, CV Sciences launched a new line of pet products under its +PlusCBD brand in 2023, including specialized chews designed to support sleep and joint health in pets.

These launches reflect the company’s commitment to diversifying its product range and tapping into niche markets to bolster growth.

Additionally, CV Sciences continues to invest in its Cultured Foods brand, which provides a range of 100% plant-based food products, thus entering the plant-based food market and opening up the potential for European distribution.

These developments are part of CV Sciences’ broader strategy to enhance its market position and respond to evolving consumer demands in the wellness and natural products sectors​​​​​​.

Geographical Presence

CV Sciences Inc., headquartered in San Diego, California, maintains a robust geographical presence strategically positioned to serve the global market for hemp-derived CBD products and supplements.

With distribution networks spanning North America, including the United States and Canada, the company ensures broad market access through retail partnerships and e-commerce channels.

Additionally, CV Sciences Inc. is actively exploring opportunities for international expansion, aiming to capitalize on the rising demand for natural health and wellness solutions worldwide.

This strategic approach positions the company as a key player in the natural products industry, poised for continued growth and success.

Recent Developments

  • In March 2024, CV Sciences unveiled its newest offerings: innovative CBD chews designed specifically for pets. These products, named +PlusCBD™ Pet Hip and Joint Health Chews and +PlusCBD™ Pet Calming Care Chews, cater to the well-being of pets, providing targeted support for hip and joint health as well as promoting a calming effect.
  • In December 2023, CV Sciences finalized the acquisition of Cultured Foods, a prominent producer and distributor of plant-based vegan foods.

Elixinol-Wellness

Company Overview

Establishment Year2017
HeadquarterSydney, Australia
Key ManagementDave Fenlon (CEO)
Revenue (US$ Bn)$ 8.3 Million (2023)
Headcount~ 200 (2023)
Websitehttps://www.elixinolwellness.com/site/content/

About Elixinol Wellness

Elixinol Wellness Limited, a prominent name in the global hemp industry, has recently made significant strides in its business operations and market expansion.

In 2023, the company completed the acquisition of The Sustainable Nutrition Group Ltd., enhancing its portfolio and market reach in sustainable nutrition products.

Alongside this strategic move, Elixinol has also introduced new funding initiatives, securing AUD 3.164 million through a follow-on equity offering aimed at bolstering the company’s financial stability and supporting its growth strategies.

These developments are part of Elixinol’s ongoing efforts to innovate within the hemp-derived product market, catering to an increasingly health-conscious consumer base and expanding its influence in the wellness sector​​​​.

Geographical Presence

Elixinol Wellness Limited has a global footprint, strategically positioning itself in key markets across North America, Europe, and the Asia-Pacific region.

In North America, the company capitalizes on the growing CBD market, while in Europe, it leverages evolving regulations and increasing consumer awareness. In the Asia-Pacific, Elixinol taps into the rising demand for natural health products.

With a focus on quality and innovation, the company has established a robust presence, offering hemp-derived wellness solutions to meet the diverse needs of consumers worldwide.

Recent Development

  • In February 2024, Ecofibre Limited, the owner of hemp food and animal products company Ananda Food, announced its intention to sell the business to Elixinol Wellness.
  • In February 2024, Elixinol published a paper on the safety of Elixinol Hemp Extract in the prestigious scientific journal of Toxicology.

Endoca

Company Overview

Establishment Year2010
HeadquarterNoord-Holland, Netherlands
Key ManagementHenry Vincenty (CEO)
Revenue (US$ Bn)$ 18.9 Million (2023)
Headcount~ 113 (2023)
Websitehttps://www.endoca.com/en-gb

About Endoca

Endoca, a key player in the global cannabidiol (CBD) and industrial hemp markets, has been active in maintaining its position as a leading supplier of hemp-derived products.

Over the recent years, Endoca has continued to uphold a significant market presence by focusing on consistent production and maintaining high standards of quality.

Their market strategy includes expanding their product offerings within the industrial hemp sector, which remains integral to their business model.

The company has been recognized in industry reports for its comprehensive range of products and services, which contribute notably to its sales and revenue performance.

Endoca’s developments reflect its commitment to innovation and its ability to adapt to evolving market demands​​​​​​​​.

Geographical Presence

Endoca, a leading provider of CBD products established in 2006, boasts a robust global presence across North America, Europe, and Asia.

In North America, particularly in the United States, the company capitalizes on the burgeoning demand for CBD, leveraging both online platforms and traditional retail outlets.

Meanwhile, in Europe, Endoca has successfully penetrated markets in the United Kingdom, Germany, France, and Scandinavia, catering to health-conscious consumers seeking natural wellness solutions.

Expanding its reach further, Endoca has tapped into emerging markets in Asia, including Japan and South Korea, where interest in CBD-infused products is on the rise.

Through strategic expansion and a commitment to quality, Endoca continues to assert its position as a trusted leader in the global CBD industry.

Recent Development

  • In October 2023, Endoca Australia rebranded to Aura Therapeutics as part of its efforts to expand its product range and better cater to the local market’s demands.

Joy-Organics  

Company Overview

Establishment Year2018
HeadquarterFort Collins, Colorado, United States
Key ManagementBarry Smith (CEO)
Revenue (US$ Bn)$ 360.0 M (2023)
Headcount~ 200 (2023)
Websitehttps://joyorganics.com/

About Joy Organics

Joy Organics has been actively expanding its presence in the cannabidiol sector, with a particular focus on enhancing its product range for better market penetration.

Their recent emphasis on broad-spectrum CBD products underscores their commitment to high bioavailability, ensuring rapid absorption and efficacy.

This dedication to quality is reflected in their diverse lineup, featuring CBD softgels, salves, gummies, and tinctures, all crafted to deliver wellness benefits while meeting stringent safety standards.

In 2023, Joy Organics diversified its offerings by introducing Delta 9 THC gummies, complementing its existing CBD product range.

These strategic moves aim to address diverse consumer preferences, emphasizing controlled, top-tier experiences.

With a steadfast commitment to customer satisfaction and product excellence, Joy Organics maintains a robust foothold in a fiercely competitive market.

Geographical Presence

Joy Organics, headquartered in Colorado, USA, has strategically expanded its geographical presence to meet the growing demand for organic wellness products.

With a strong network of retail partners across the United States, including both physical stores and online platforms, Joy Organics ensures widespread accessibility of its premium CBD and wellness solutions.

Internationally, the company has pursued targeted expansion initiatives, forming strategic alliances to tap into emerging markets where there is a rising interest in natural health products.

This deliberate geographical positioning has solidified Joy Organics’ position as a leading player in the industry, known for its commitment to quality and innovation in serving health-conscious consumers worldwide.

Recent Developments

  • In November 2020, Joy Organics unveiled a new line of CBD tinctures and salves, certified organic by the USDA.
  • In March 2020, Joy Organics introduced its latest product, a CBD Sports Cream infused with menthol, aiming to enhance muscle support. This innovative blend combines the brand’s high-quality, broad-spectrum CBD with organic essential oils and camphor.

Medterra

Company Overview

Establishment Year2017
HeadquarterIrvine, California, United States
Key ManagementGregory Reeder (CEO)
Revenue (US$ Bn)$ 20.1 Million (2023)
Headcount~ 77 (2023)
Websitehttps://medterracbd.com/

About Medterra

Medterra, a notable player in the cannabidiol sector, has been actively expanding its product range and accessibility.

The company continues to stand out with its commitment to quality, which is backed by science and emphasizes products made from high-quality hemp CBD.

Medterra has broadened its retail presence, making its CBD products available at a variety of retailers, including pharmacies, groceries, and convenience stores. This expansion ensures that customers can easily find their products across multiple locations.

Additionally, Medterra maintains a strong focus on customer satisfaction, which is supported by a U.S.-based wellness expert team, enhancing the consumer experience by offering reliable support and guidance on CBD product selection​​​​.

Geographical Presence

Medterra, a leading CBD company, boasts a robust geographical footprint, strategically serving both domestic and international markets.

In the United States, the company’s products are widely available through partnerships with retailers and e-commerce platforms, ensuring broad accessibility across multiple states.

Internationally, Medterra has successfully expanded into key markets in Europe, Asia, and beyond, leveraging strategic partnerships and adherence to regulatory standards.

This widespread presence reflects Medterra’s commitment to delivering high-quality CBD products to consumers globally, contributing to the industry’s ongoing growth and evolution.

Recent Developments

  • In October 2023, Medterra debuted on Amazon, the largest online marketplace globally. This strategic decision not only signifies a pivotal moment for Medterra but also provides customers with enhanced access to premium hemp products, opening up new avenues for purchasing.

Medical-Marijuana

Company Overview

Establishment Year2005
HeadquarterSan Diego, California, U.S.
Key ManagementDon Steinberg (CEO)
Revenue (US$ Bn)$ 4.7 Million (2023)
Headcount~ 200 (2023)
Websitehttp://medicalmarijuanainc.com/

About Medical Marijuana

Medical Marijuana, Inc., a pioneer in the cannabidiol sector, has recently seen significant developments, including executive changes and strategic expansions.

Additionally, Medical Marijuana, Inc. has been actively expanding its market presence, especially in Brazil. Their subsidiary, HempMeds® Brasil, launched two new full-spectrum CBD products that are competitively priced to meet the growing demand in the Brazilian market.

These products, offered in concentrations of 3,000mg and 6,000mg, are part of the company’s strategy to solidify its foothold in one of the largest regulated CBD markets worldwide.

These initiatives are part of Medical Marijuana, Inc.’s ongoing efforts to enhance its global market share and improve operational efficiencies​​​​​​.

Geographical Presence

Medical Marijuana, Inc. has established a prominent presence in the medical cannabis industry across North America, Europe, and Latin America.

In North America, the company operates in states where medical marijuana is legal, alongside expanding into Canada’s growing market.

In Europe, it navigates evolving regulatory landscapes to meet the rising demand for medical cannabis products.

Additionally, in Latin America, particularly in countries like Brazil and Mexico, Medical Marijuana, Inc. capitalizes on emerging legalization trends to address medical needs and drive market growth.

Through strategic positioning, the company contributes to the global accessibility of medical cannabis, facilitating industry evolution and patient well-being.

Recent Developments

  • In August 2023, Medical Marijuana, Inc. stated that Kannaway completed an Asset Purchase Agreement with eXfuse, LLC, known as KZ1, a Japanese network marketing firm.
  • In March 2023, Medical Marijuana, Inc. revealed that its HempMeds® Brasil subsidiary launched two new full-spectrum products in Brazil.

Aurora-Cannabis

Company Overview

Establishment Year2006
HeadquarterEdmonton, Canada
Key ManagementMiguel Martin (CEO)
Revenue (US$ Bn)$ 134.4 Million (2022)
Headcount~ 1,130 (2022)
Websitehttps://www.auroramj.com/

About Aurora Cannabis

Aurora Cannabis Inc., a major player in the cannabidiol sector, has been undergoing significant transformations and strategic initiatives.

In 2023, the company announced a strategic partnership with Radient Technologies Inc., aimed at enhancing its product development capabilities and optimizing production processes.

This collaboration underscores Aurora’s commitment to innovation and quality as it seeks to leverage Radient’s proprietary extraction technology to enhance the potency and purity of its CBD products.

Additionally, Aurora Cannabis has been actively expanding its global footprint through strategic acquisitions and partnerships, such as its acquisition of TerraCycle Canada, a leading provider of sustainable waste management solutions.

These developments reflect Aurora’s proactive approach to staying competitive in the rapidly evolving CBD market and its commitment to delivering high-quality products to consumers worldwide.

Geographical Presence

Aurora Cannabis Inc. is strategically located across the globe. Based in Canada, it operates numerous facilities serving medical and recreational markets.

Expanding into Europe, notably Germany, it secures distribution agreements. In Latin America, particularly Uruguay and Colombia, Aurora partners for cultivation.

The company also ventures into the Asia-Pacific, like Australia, adapting to evolving cannabis regulations. This diverse presence positions Aurora for sustained growth in the industry.

Recent Developments

  • In April 2024, Aurora Cannabis Inc., alongside MedReleaf Australia, revealed the expansion of its product line with the launch of high-quality dried cannabis flower offerings.
  • In March 2024, Aurora Cannabis Inc., along with its subsidiary MedReleaf Australia, introduced medical cannabis pastilles for prescription by doctors in Australia.

GW-Pharmaceuticals

Company Overview

Establishment Year1998
HeadquarterCambridge, United Kingdom
Key ManagementJustin Gover (CEO)
Revenue (US$ Bn)$ 527.0 Million (2020)
Headcount~ 1,161 (2020)
Websitehttps://gwpharm.co.uk/

About GW Pharmaceuticals

GW Pharmaceuticals, a prominent name in the cannabidiol sector, has been making waves with its innovative products and strategic moves.

In 2023, the company made headlines with its acquisition by Jazz Pharmaceuticals, a leading biopharmaceutical company, in a deal valued at approximately $7.2 billion.

This acquisition marked a significant milestone for both companies, combining GW Pharmaceuticals’ expertise in cannabinoid-based therapies with Jazz Pharmaceuticals’ resources and global reach.

Additionally, GW Pharmaceuticals continued to expand its product portfolio with the launch of Epidiolex® Oral Solution, a highly purified CBD medication, in new markets such as Europe, further solidifying its position as a leader in the pharmaceutical-grade CBD sector.

These developments underscore GW Pharmaceuticals’ commitment to advancing cannabinoid-based treatments and improving patient outcomes through innovative therapies.

Geographical Presence

GW Pharmaceuticals, headquartered in the United Kingdom, boasts a significant global presence with operations spanning North America, Europe, and emerging markets.

Particularly notable is its strategic foothold in the United States, where the cannabidiol company has excelled in research, development, and commercialization efforts.

In Europe, GW Pharmaceuticals has leveraged favorable regulatory environments and strategic partnerships to establish a strong market presence.

With a focus on expanding into emerging markets, the company is positioned to capitalize on evolving healthcare landscapes and drive sustained growth in the pharmaceutical industry.

Recent Development

  • In February 2021, Jazz Pharma acquired GW Pharma.
  • In August 2020, GW Pharmaceuticals Ltd. entered a Phase II clinical trial agreement with Hassman Research Institute LLC for cannabidiol.

Canopy-Growth

Company Overview

Establishment Year2013
HeadquarterOntario, Canada
Key ManagementDavid Klein (CEO)
Revenue (US$ Bn)$ 309.6 Billion (2022)                                                                                                                 
Headcount~ 2,000 (2022)
Websitehttp://www.canopygrowth.com/

About Canopy Growth

Canopy Growth Corporation, a key player in the cannabidiol sector, has been actively pursuing strategic initiatives to strengthen its position in the market.

In 2023, the company made significant strides with its acquisition of Wana Brands, a leading cannabidiol producer of cannabis-infused edibles, in a deal valued at $297 million.

This acquisition expanded Canopy Growth’s product offerings and market presence in the rapidly growing edibles segment, allowing the company to capitalize on shifting consumer preferences towards alternative consumption methods.

Additionally, Canopy Growth continued to innovate with the launch of new CBD-infused beverage products under its Tweed brand, catering to the increasing demand for convenient and functional wellness beverages.

These developments highlight Canopy Growth’s commitment to diversification and innovation as it seeks to maintain its leadership position in the evolving CBD market landscape.

Geographical Presence

Canopy Growth Corporation strategically expands globally, primarily in North America, with headquarters in Smiths Falls, Ontario, Canada.

Benefiting from Canada’s progressive cannabis laws, it leads with a diverse brand portfolio. It also invests in US states where cannabis is legal and extends into Europe (e.g., Germany, UK) and emerging markets like Latin America, Asia-Pacific, and Africa.

Overall, Canopy Growth exhibits a strategic geographical expansion and positioning as a global cannabis leader.

Recent Developments

  • In February 2024, Canopy Growth unveiled five new pre-roll products in its adult-use cannabis lineup, introduced under the brands 7ACRES and Hiway.
  • In January 2024, Canopy Growth unveiled new products in its adult-use and medical cannabis line, including Tweed soft gels and oils.
SHARE:
Trishita Deb

Trishita Deb

Trishita has more than 7 years of experience in market research and consulting industry. She has worked in various domains including healthcare, consumer goods, and materials. Her expertise lies majorly in healthcare and has worked on more than 400 healthcare reports throughout her career.