The global cannabidiol market is likely to exceed revenue of $22 billion by 2026, according to a study produced by Acumen Research and Consulting, The industry also reflects the CAGR of 33% during 2019-2026. The report provides analysis of global Cannabidiol market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
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A growing awareness of the health advantages of cannabidiol use is planned to promote development. In the near future the high demand for cannabidiol in pharmaceutical formulations is expected to bode well for the industry due to their healing characteristics.
Growing hemp production and increased demand is expected to boost market development for cannabidiol-rich hemp biomass. Increased adoption of refined cannabidiol (CBD) goods in conjunction with increasing medical marijuana legalizations is anticipated to drive demand for the product in the long term.
Hydration and cream products, cleansers, serums, oils, and sunscreens include CBD skin care products. The demand for cannabidiol in skin care and cosmetics products is expected to increase anti-aging characteristics and efficacy for all skin types, including delicate skin and skin-prone skin.
CBD is produced in the cannabis plant from hemp and marijuana and it has therapeutic and medicinal properties without providing the elevated levels of THC for customers. It works in medical circumstances, such as inflammation, pain, sleep, epilepsy, schizophrenia, anorexia and multiple sclerosis.
CBD’s infused products are extremely preferred, such as cannabis oil, beauty and skincare products, drinks, rubber, capsules and drinks, which are expected to increase demand for these products over the next few years. Ingestion, vaporisation, smoking, and the skin can provide cannabidiol to your body in several ways.
By interacting with the endocannabinoid system of the body, cannabidiol helps improve the health of the person. In addition, skin care products infused with cannabidiol prefer a natural healing process that reduces inflammation. In many beauty goods, cannabidiol, including beauty creams, lip balsams, facial masks and serums, is applied.
An increased use of beauty products like lip balms and serums will also probably trigger CBD market growth. The hemp and marijuana produced by the cannabis plant has both therapeutic and medicinal characteristics without providing customers a high level of THC experience.
In the countries in which cannabis is legally available, cannabidiol is widely used in the production of personal care products and medical drugs. The legalization of cannabis products offers end user industries important possibilities for development. In most countries, such as Alabama, Georgia, and Indiana, the U.S. deregulated the use of the product in medical apps.
The hemp CBD is legalized at national level in the United States. In accordance with certain provisions, the Farm Bill 2018 legalized manufacturing of hemp-derived cannabidiol. Pilot programs for study purposes were authorized under the 2014 Farm Bill. Changes in the bill identified hemp as the derivative of the THC crop equivalent to or less than 0.3%.
In addition, the bill permits the carriage of hemp products throughout the countries for private and commercial reasons without any constraints. However, only when their manufacturing is in accordance with the federal and state laws will hemp-derived cannabinoids be legalized.
After Brazil, Mexico is the 2nd biggest medical marijuana market. The Mexican legislation allows for the sale of cannabidiol goods as THC supplements below 1%. In 2018, CBD products were imported and distributed to distributors and pharmacies throughout the nation. Manna Health has been approved by the Government of Mexico for the sale, purchase, lease, supply, import or export of all health products. CBD Life is also the only CBD-infused food supplier in the nation, including rubbers, power beverages and a range of infused teas.
Key Players & Strategies
Companies such as Medical Marijuana, Inc., Phyto Animal Health and HempMeds have worked with Mr. Checkout to boost their world-wide market and distribution capabilities. Market players concentrated on gaining competitive edge in increasing their involvement in the value chain. Highly integrated into the value chain are prominent players such as Endoca, Pharmahemp D.o.o., Canope Growth Corporation and Elixinol, among others.
Key businesses are implementing fresh approaches like fusions and procurements to boost manufacturing capacity to assist businesses to grow their market presence globally.
Market Segment Analysis:
Acumen Research report focuses on market attractiveness by assessing the key market segments. The report also combines region-wise segments for a better understanding of the supply and demand ratio of this market. This exclusive study of the report analyzes the present and future market scenario and the industry trends that are influencing the growth of the segments. Besides, the report also covers the value chain analysis, supply chain analysis, and year-on-year basis analysis of this market.
Market, By Source
Market, By Application
- Food & Beverages
- Personal Care & Cosmetics
Market, By Distribution Channel
- Online Stores
- Retail Pharmacies
- Hospital Pharmacies
Global Cannabidiol Market, By Geography
- North America.
- Latin America
- Middle East and Africa (MEA)
The market research study on “Cannabidiol Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026” offers detailed insights on global Cannabidiol market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Questions Answered in the Report
The report addresses key questions concerning the market evolution and overarching trends shaping global market growth. Some of the key questions answered in the report include-
– What is the overall structure of the market?
– What was the historical value and what is the forecasted value of the market?
– What are the key product level trends in the market?
– What are the market level trends in the market?
– Which of the market players are leading and what are their key differential strategies to retain their stronghold?
– Which are the most lucrative regions in the market space?
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About Acumen Research and Consulting:
Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.