CBD Patches Market

CBD Patches Market Outlook (2023-2033)

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 2018-2022 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 (2023-2033)	18.7% CAGR
North America Market Share (2022)	~ 43.3%
Asia Pacific Market Growth Rate (2023-2033)	~ 21.3% CAGR
United States Market Growth Rate (2023-2033)	~ 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

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.

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.

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

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA