CBD (Cannabidiol) Market Analysis
The CBD (Cannabidiol) Market is anticipated to reach USD 22,07, 162.54 million at a 125.58% CAGR between 2016-2026, states the latest Market Research Future (MRFR) report. Cannabidiol (CBD) is a compound that is primarily found in the leaves and flowers of the hemp plant. It is a powerful CBD found in hemp that has gained ample recognition for supporting the mind and body in various ways owing to its alluring features such as seizure suppressant, anti-anxiety, analgesic, and anti-inflammatory properties.
Various factors are propelling the CBD market growth. Some of these factors, according to the Market Research Future report, include increasing research and development investments in the pharmaceutical industry, the launch of CBD infused cosmetics, growing number of CBD manufacturers, increasing legalization of medical marijuana, and growing adoption of refined CBD products. Additional factors pushing market growth include growing demand for CBD rich hemp biomass, growing hemp production, increasing use in various pharmaceutical formulations for its healing properties, and growing awareness about the health benefits of CBD consumption.
On the flip side, the illegal market of CBD, adverse effects, and stringent regulation about the legalization of CBD are factors that may impede the CBD market growth over the forecast period.
COVID-19 Impact on Cannabidiol (CBD) Market
Adapting to the effects of the recent novel COVID-19 pandemic, the global COVID 19 Impact on Cannabidiol (CBD) Marketreport has been modified keeping in mind of the changes in production styles, a glut in the supply chain, and new marketing campaigns.
CBD (Cannabidiol) Market Segmentation
The MRFR report offers a wide segmental analysis of the CBD market on the basis of source, end user, application, product, route of administration, and form.
Based on form, the CBD market is segmented into liquid and solid. The solid segment is again segmented into hash, capsule/softgel, CBD wax, CBD crystals, and others. The liquid segment is again segmented into e-liquid, cream, tincture, CBD oil, and others. Of these, the liquid segment will have the largest share in the market over the forecast period.
Based on the product, the CBD market is segmented into therapeutic grade, food-grade, and others. Of these, the therapeutic grade segment will lead the market over the forecast period on account of its increasing use to treat neuropsychiatric disorders and various health benefits.
Based on the application, the CBD market is segmented into protein bars, energy drinks, diabetes, fibromyalgia, neurogenerative disorder, and others. Of these, the fibromyalgia segment will dominate the market over the forecast period on account of the rising incidence of physiological disorder, particularly in young adults.
Based on the route of administration, the CBD market is segmented into aerosol spray, inhalation (vapor or smoke), capsules, and tincture. Of these, the tincture segment will lead the market over the forecast period.
Based on the end user, the CBD market is segmented into food and beverage, healthcare, and others.
Based on the source, the CBD market is segmented into organic and inorganic.
CBD (Cannabidiol) Market Regional Analysis
By region, the CBD market report covers the latest trends and growth opportunities across North America, Latin America, the Asia Pacific, Europe, and the Rest of the World. Of these, North America will remain the driving force in the market over the forecast period on account of the increasing consumption of products that are cannabis-based, growing demand for cannabis, easy availability of cannabis-based products on online platforms, and wide availability of marijuana-derived CBD products. Moreover, shifting preference of consumers towards ingesting vapes and edible products and rising investments being made for the development and launch of CBD based products are also adding market growth.
The CBD market in the APAC region is predicted to have a rapid growth over the forecast period for the increasing use of CBD products in different food items in Nepal, China, and India and key players laying emphasis on expanding their presence by entering into partnerships and agreements to create new opportunities for the CBD market in the region.
The CBD market in Europe is predicted to have the second-largest share in the market over the forecast period for the increasing awareness regarding clinical applications of CBD and approval for the sale of CBD products.
The CBD market in Latin America and the RoW are predicted to have restricted growth over the forecast period on account of the illegal usage of marijuana and adverse effects related to cannabis, and strict government policies.
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Cannabidiol (CBD) Market Key Players
Notable players profiled in the CBD market report include Elixinol Global Limited, Canopy Growth Corporation, Medical Marijuana, Inc., CV Sciences, Inc, Isodiol International Inc, ENDOCA, LLC, CBD Health Solutions, Green Roads of Florida, LLC, Freedom Leaf, Inc, Folium Biosciences, and Aphria Inc.
Cannabidiol (CBD) Industry News
November 2019: Nielsen has expanded its cannabis measurements by joining hands with Denver-based CBD company, Web Holdings. The goal of this analytical relationship is to guide the retail market for consumer goods companies in the US with the evolution of the cannabidiol space.