Cannabidiol (CBD) Market - by Form (Solid and Liquid), Route of Administration (Tincture, Capsules, Inhalation (Smoke or Vapor), Aerosol Spray), by Product (Food Grade and Therapeutic Grade), Application (Neurogenerative Disorder, Fibromyalgia, Diabetes, Protein Bars, Energy Drinks), by End User (Food & Beverage, Healthcare), by Source (Organic-Inorganic) and Region (North America, Europe, Asia Pacific, ROW) - Industry Forecast 2027
|ID: VPR/HC/1013||Publishing Year: September 2021||Pages: 110||Format:|
Cannabidiol (CBD) Market Overview:
The Cannabidiol (CBD) Market Size to reach USD 2.5 billion by 2027; it is expected to grow at a CAGR of 20.5% from 2020 to 2027.
Cannabidiol is a chemical obtained from marijuana and hemp plants that is used to treat various ailments. Cannabidiol has been shown to help with a variety of ailments, including chronic pain, neurological discomfort, anxiety, sleep difficulties, nausea, and stress. As a result, Cannabidiolis becoming increasingly popular in different parts of the world.
The growing number of cases throughout the world, as well as restrictions on the movement of people and products, have had an impact on the expansion of every sector and industry that operates inside it. Sales have decreased across the board, from large corporations to small businesses. While other aspects of the healthcare industry have yet to be affected, CBD sales have grown since the outbreak. This is partly owing to the fact that variables like restricted movement and isolation have a significant impact on the human body, producing chronic discomfort and fueling concerns about mental health, among other things. As consumers become more aware of the benefits of Cannabidiol as an alternative mode of therapy, there is expected to be a surge in consumer demand.
The prominent players in the Cannabidiol (CBD) Market are Aphria Inc., Folium Biosciences, Freedom Leaf, Inc, Green Roads of Florida, LLC, CBD Health Solutions, LLC, ENDOCA, Isodiol International Inc, CV Sciences, Inc, Medical Marijuana, Inc., Canopy Growth Corporation, Elixinol Global Limited.
Many stores are closing as the spread of COVID-19 has accelerated. Some of the industry's major CBD companies are experiencing an increase in e-commerce sales. This is a motivating shift, since many brands have worked hard over the last year to be on the shelves of mass retailers. Those with a strong Direct-to-Consumer strategy, on the other hand, are in the greatest position to survive the COVID-19 issue.
According to a recent research report, the CBD business may expect increased consumption, particularly among frequent users, which shows how the Cannabidiol (CBD) Market may fare in the coming weeks and months. Furthermore, in a survey of CBD users, 39% said they planned to use more CBD during the COVID-19 issue. This is especially true among Millennials and Gen Z customers, with 49% planning to use CBD more in the following weeks and months.
An Overview of the Cannabidiol (CBD) Market Segments.
The Worldwide Cannabidiol (CBD) Market is divided into Solid and Liquid Segments based on Form.
The paper includes CBD crystals, CBD wax, capsules/softgels, hash, and other solid forms of CBD. CBD oil, tincture, cream, e-liquid, and other liquid CBD products are available.
CBD crystals are CBD isolates in their purest form. CBD crystals are made by boiling CBD-rich extract and then chilling and separating it continuously. CBD crystals are commonly utilised in the production of CBD-infused foods and lotions. CBD wax is a full spectrum CBD that has been crystallised or crystalized. CBD wax is a highly concentrated version of CBD that is used to treat pain. CBD capsules are similar to capsules in that they are encased in an outer shell, which is commonly gelatin. The CBD soft gelatin capsule is a normal capsule with a translucent golden colour that is filled with hemp oil and occasionally olive oil as filler.
CBD oil is one of the most extensively used and accessible CBD products. It's primarily employed in medicine since it produces quick and effective outcomes. Full spectrum CBD oils are available in a variety of flavours on the Cannabidiol (CBD) Market. CBD tinctures are made from high-alcohol hemp strains and include 60-70 percent alcohol. CBD tinctures are most commonly used to alleviate anxiety and pain. Electronic cigarettes and vaporizers employ CBD-infused e-liquid as a fluid.
North America dominated the Cannabidiol (CBD) Market in 2020, with a revenue share of 37.3 percent, and it will continue to do so in the future. Some of the primary causes fueling the region's growth include the existence of a significant population of health-conscious individuals, increased adoption of CBD-based products, the presence of big manufacturers, and the passage of the United States Farm Bill in 2020. North America is widely regarded as the most progressive region in terms of cannabis and its derivatives, such as cannabidiol. It boasts the most CBD firms and the most permissive rules regulating the use of CBD products.
Due to the establishment of hemp-producing plants, particularly in China, the Cannabidiol (CBD) Market in Asia Pacific is expected to develop at the quickest rate over the forecast period. China is Asia's greatest hemp producer, generating roughly half of all hemp worldwide. Around 90% of the country's products are exported to the United States, Germany, the United Kingdom, the Netherlands, and Japan, and hemp cultivation for cannabidiol extraction has begun in three regions. The industry's fresh government rules, low cannabidiol production costs, and unique large-scale manufacturing equipment and experience are projected to produce severe rivalry for hemp companies in the United States, Canada, and the European Union.
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