According to Acumen Research and Consulting, the global Cannabidiol market is expected to grow at noteworthy CAGR around 33 % throughout the forecast period and reach around US$ 22 billion by 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.
The development is expected to increase awareness of health advantages related to cannabidiol use. In the near future there is expected to be good market demand for cannabidiol in pharmaceutical formulations due to its curing characteristics. Growing manufacturing of hemp, together with increased demand for hemp biomass rich in cannabidiol will boost development in the industry. The increasing adoption and increasing legalization of medical marijuana of refined cannabidiol (CBD) goods are projected to boost the product demand in the long term.
Hydrating agents and creams, cleansers, serum goods, oil, and sunscreens include CBD skin treatment products. The demand for cannabidiol in skin care and cosmetic products is expected to increase anti-aging and efficacy for all skin types, including delicate and acne-prone skin. Hemp and marijuana are obtained from the cannabis plant and have therapeutic as well as medicinal characteristics without offering the consumer elevated THC content. Health problems such as inflammation, schizophrenia, anorexia, pain, sleeping problems, epilepsy, and other symptoms of MS are useful. The infused products of CBD are extremely prized and are expected to increase demand in the next few years, such as cannabis oil and beauty, skincare products, drinks, candy products and capsules, and dog treatments. Ingesting, vaporization, smoking, and the skin can lead to a number of types of cannabidiol in the body. Cannabidiol is widely used in countries where cannabis is legal in the manufacturing of personal care and medicines. The legalization of cannabis goods has given end-user industries important expansion possibilities. In most countries such as Alabama, Georgia, the U.S. has deregulated the use of the product for medical apps.
As a result of the anti-inflammatory, anti-seborrheic and antioxidant characteristics of CBD, the demand for CBD cosmetics and private care is growing quickly. Many beauty brand names like The Body Shop and MGC Derma are now engaged in manufacturing hemp-derived CBD products for personal care and cosmetics. Furthermore, hemp obtained from CBD is another emerging market for pet foods. The impacts of CBD on animals on people are comparable. Hemp-based cannabidiol oil is a source of pet food because of its broad spectrum of health advantages, including decreased pain and inflammation and an enhanced health of the cardiac environment. Because of its health advantages, marijuana-derived CBD is used primarily in medical apps. CBD based on marijuana may be used in all forms including rubber, steaming styles or flora in countries where cannabis is legalized. Marijuana-based CBD can be legally obtained by prescription in most countries; however the norms for distinct countries differ according to the situation that can be handled with CBD together with the amounts of THC in products. CBD products are becoming increasingly common in European markets, particularly vaping and smoking products. U.K. King. The authorized use of marijuana-based Sativex medicinal products for multiple sclerosis spasms and shakes was approved.
Cannabidiol is used by an endocannabinoid system in the body to improve the health of an person. In addition, skin care products infused with cannabidiol prefer natural curative procedures and are used to reduce inflammation. In a range of beauty products, cannabidiol is used such as beauty creams, lip bales, face masks and serums.
Another reason for the development in the CBD industry is the increased use of beauty products, like lip bawls and serums. Cannabidiol is produced from hemp and marijuana found in the cannabis plant and has therapeutic as well as medicinal properties without providing customers with a elevated content of THC.
It is good for medical circumstances like swelling, pain, sleep, epilepsy, schizophrenia, anorexia, and various sclerosis symptoms, among others. CBD market development is expected to increase the rapid conversion of cannabidiol from herbal preparations to prescription drugs.
The United States in June 2018 The first anti-epileptic medicine infused with cannabis called Epidiolex by GW Pharmaceuticals was authorized by the Food and Drug Administration (FDA). Epidiolex does not contain psychoactive THC but, due to the existence of rigorous cannabis-infused regulation, its legalization worldwide is an issue-based operation.
Distribution Channel Stance
As cannabidiol is a regulated drug, cannabidiol infused medicines in bulk from wholesalers with an approved import permit can be imported from these pharmacies. High CBD-infused pharmacies in hospitals are expected to increase development in the CBD industry as a consequence of legalizing medicinal cannabis in North America and Europe.
Retail pharmacies supply a particular prescription for cannabidiol-infused personal care goods, foodstuffs and medications. Due to the simple accessibility of products for the customers, the main producers of these products focus on retail pharmacies as the preferred distribution channel.
Various types of cannabidiol-infused goods can be chosen according to their requirements from internet retailers. A number of internet websites, including Pure CBD Vapors, CBD Outlet Online and the CBD Store, Discover CBD, and Healthy Hemp Oil, offer various branded goods, edible cannabidiol, wax and other helpful dosage data. Due to altering consumer purchasing patterns and increasing standard of living, online stores are preferred. Mass market retail channel distribution through supermarkets and hypermarkets of cannabidiol infused products.
The hemp CBD is legalized at US level at the national level. In accordance with certain laws, the Farm Bill 2018 legalized hemp-derived cannabidiol production. Pilot programs for study purposes have been permitted by the Farm Bill 2014. Bill Amendments described hemp as a cannabis crop derivative, with a THC content of 0.3% or less. The bill also permits the transport, for private or commercial reasons, of hemp derived products across countries, without any limitation. However, only if their manufacturing is in conformity with the Federal and State Regulations cannabinoids extracted from hemp be regarded legal. After Brazil, Mexico is the second biggest medical marijuana market. The Mexican legislation allows cannabidiol medicines to be sold as THC supplements below 1%. In 2018, the nation granted CBD products to distributors and pharmacies throughout the nation for import and distribution. It approves of selling, buying, leasing, supplying, importing, or exporting any health and wellness products. In addition, CBD Life is the only supplier in the nation of CBD-infused foods, including rubber, energy drinking and tea.
Global Cannabidiol Market, By Source
Global Cannabidiol Market, By Application
Global Cannabidiol Market, By Distribution Channel
Global Cannabidiol Market, By Geography
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 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., Canopy 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.
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