The sports cannabis movement was started by former NBA All-Star Clifford Robinson roughly a decade ago. While cannabis use by professional athletes was not new at the time, the sports cannabis sector with products specifically designed for athletes did not exist prior to Clifford Robinson announcing his entrance into the cannabis industry.
These days, the sports cannabis sector is thriving, with more current and retired professional athletes and athlete-focused products entering the sports cannabis sector with every passing year. Additionally, scientific research focused on athletes and cannabis products has increased in recent years, boosting the knowledge within the sports cannabis movement.
A recent example, which was initially reported by Marijuana Moment, involves a study focusing on runners and cannabidiol (CBD). Per excerpts from Marijuana Moment:
The research, set to be published next month, involved 12 adult subjects who were given either 300 milligrams of CBD or a grapeseed oil placebo. After a two-hour waiting period, participants were instructed to complete a two-mile run on a treadmill as fast as possible.
The results indicated that participants who ingested cannabidiol “reported increased feelings of calm and relaxed” compared to those who took the placebo. The CBD group also had an 8 percent reduction in average rate of perceived exertion halfway through the two-mile run.
“These results suggest that an acute dose of CBD (300 mg) taken 2 hours before a 2-mile run may benefit runners in competition by improving anxiety symptoms and decreasing the rate of perceived exertion without hindering performance time,” stated the researchers about their study.
The global cannabidiol (CBD) market was worth an estimated $7.6 billion in 2023 according to a market analysis by Market.us, and will climb to a projected $36.6 in value by 2033.
“Between 2023 and 2032, this market is estimated to register the highest CAGR of 27%.” the researchers stated.
Market.us determined the following as part of their global CBD market analysis:
- CBD oil is the most dominant product type, with a market share of over 30%, largely due to its effectiveness in managing chronic pain
- Pharmaceuticals represent the most lucrative segment, accounting for over 25% of the market, driven by CBD’s neuroprotective and pain-relieving properties
- Online pharmacies hold the largest market share (25%) due to the convenience of online sales and global reach
- North America leads the market, holding a 60% market share, with Europe and Asia-Pacific showing emerging demand
- The B2B sector played a dominant role in the global CBD market in 2023, accounting for a substantial revenue share of 55.1%
A separate global CBD market analysis conducted by Grand View Research found that the global CBD market was worth $7.7 billion in 2023, and estimates that the market will grow by 15.8% from 2024 to 2030. A previous market analysis conducted by Market Research Future estimated that the global CBD industry was worth $18.43 billion in 2023 and that the market would reach a projected 59.43 billion by 2030.