Cannabidiol (CBD) is a naturally occurring compound that is extracted from cannabis plants. It is a 21-carbon terpenophenolic compound which is formed following decarboxylation from a cannabidiolic acid precursor.
The global CBD market was worth USD XX billion in 2017 and is forecasted to reach USD XX billion by 2025, growing at a CAGR of 26.9% during the forecast period (2017-2025).
WHAT’S TRENDING IN THE CBD MARKET?
The key factors driving the market include growing demand for CBD globally as it is used to cure various human diseases. CBD products have several benefits like protection from Alzheimer’s disease, anti-inflammatory properties and helps to treat epilepsy and mental health disorders.
The Cannabidiol is widely adopted as it helps in drug withdrawal and highly recommended for cancer cases.
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Global Cannabidiol (CBD) Market – Segmentation Analysis
The global market for Cannabidiol (CBD) is broadly segmented by product type as – Hemp-derived and Marijuana-derived. According to the Hemp Business Journal, the CBD Oils from marijuana-based sources are expected to reach USD 1.6 billion, i.e., around 80% of the total CBD market.
Marijuana-derived CBD products are extensively used globally for numerous medical purposes. Cannabis sativa is the source plant for extracting marijuana, which contains over 80 compounds of cannabinoids.
The demand for Marijuana-derived CBD products is increasing as they contain high concentrations of THC in comparison to hemp-derived CBD products.
The Industrial Hemp Farming Act of 2015 excluded hemp from the Drug Enforcement Administration’s controlled substances list, which effectively legalized hemp-derived CBDs. Many other countries around the world have similarly permitted the importation of hemp-based CBD products.
REGIONAL MARKET ANALYSIS:
The global CBD market is segmented into North America, Europe, Asia Pacific, South America, and ROW.
CBD oil products are highly preferred by US consumers.
Also, countries such as South American countries, including Uruguay, Peru, Chile, Colombia, Brazil, and Argentina have legalized the application of marijuana products for medical purposes. These factors are leading North America to be the largest market of the global CBD market.
Major market players of CBD oil production are present in North America. It is estimated that in 2020 industry sales of marijuana-derived CBD will total around USD 417 million.
The market is highly competitive with the continuous product and technological developments. The players are also focusing on strategic collaborations and agreements to expand their geographic footprint and to intensify market competitiveness.
RECENT DEVELOPMENTS IN THIS MARKET:
In Feb 2019, Marijuana Company of America (MCOA) launched its hempSMART Full Spectrum Pet Drops with a specially formulated product containing naturally occurring CBD derived from hemp seed oil, full spectrum hemp extract, and fractionated coconut oil, along with a creamy bacon flavor.
WHO ARE THE MAJOR MARKET PLAYERS IN THIS INDUSTRY?
Plus CBD Oil
KEY TAKEAWAYS FROM THIS REPORT
North America is leading the global CBD market due to increasing demand for CBD products by consumers, and a large number of players are US-based.
The overall market for CBD will be primarily driven by high demand for CBD products because of its several health benefits.
Marijuana-derived CBD has largest market segment due to rising preference by consumers because of their high concentrations of THC in comparison to hemp-derived CBD products.
REASONS FOR PURCHASING THIS REPORT?
Visualize the composition of the global CBD market across each indication, regarding type and treatment options, highlighting the critical commercial assets and players.
Identify business opportunities in global CBD market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points in the global CBD market.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the principal products of all major market players
WHO CAN BENEFIT FROM THIS REPORT?
Equipment Suppliers/ Buyers
Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
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Table of Contents
METHODOLOGY AND SCOPE
*Note: Additional company profiles will be included on client request.
Name: Norah Trent
Organization: WISE GUY RESEARCH CONSULTANTS PVT LTD
Release ID: 498107