Cannabidiol Market Forecast till 2030
Market Overview
Cannabis plants contain cannabidiol (CBD), a non-addictive substance. The compound is found in cannabis in greater concentrations than tetrahydrocannabinol (THC). This industry consists of a variety of forms (solids, liquids) routes of administration (tinctures, capsules, inhalation (smoke or vapour), aerosol sprays) and products (food grade, therapeutic grade).
Cannabidiol, which does not produce psychoactive effects, is the most widely consumed of the cannabinoids. It has been found to be effective in treating a variety of conditions, including anxiety, depression, stress, diabetes, pain, cancer symptoms, and inflammation. This has led to an increase in demand for CBD oil, resulting in a large growth in the global market. This has prompted commercial retailers to invest more in CBD oil, as it offers high profit margins. Wellness and health retailers, such as CVS Health, Rite Aid, and Walgreens Boots Alliance have begun to offer products containing CBD oil.
Segment Overview
The global market has been segregated into form, product, route of administration, application, end user and regional segments. The global CBD market has been divided into Solid and Liquid. Considering on routes of administration, the global market of cannabidiol is divided into Tincture, Capsules, Inhalation, Aerosol Spray. According to the Product type the global market has been divided into Therapeutic Grade and Food Grade. Based on application, the global cannabidiol market is sub-segmented into Fibromyalgia, Diabetes, Protein Bars, Neurogenerative Disorder, Energy Drinks. The End User segment covers Food & Beverage and Healthcare, while Source segment includes Organic and Inorganic.
Regional Analysis
The worldwide Cannabidiol market has been concentrated across North America, Europe, Asia Pacific, and Rest of the World. Americas represented the biggest market portion in 2021. According to the WHO, about 147 million people around the world use marijuana and other cannabis-related products. Furthermore, 22.2 million Americans who use cannabis-based products are 12 years old or older. Europe has the second largest position of regional market in the cannabidiol. The use of CBD is legal on the European market. The Ministry of Agriculture, the Bulgarian Food Safety Agency and the Ministry of Agriculture have all approved the use of cannabidiol in Europe. These agencies have issued 'free certificates of sale' for CBD products. These legalizations and approvals are driving the European market's growth. In Europe, the practice is legal, but there are some positive restrictions as well. Also, cannabis laws are different in various European countries. Various companies participating in the market are creating various opportunities and scope for development.
Major Players
Folium Biosciences, Aphria Inc., Elixinol Global Limited, LLC., Green Roads of Florida, Freedom Leaf Inc, CBD Health Solutions, CV Sciences, Isodiol International Inc, Canopy Growth Corporation and Medical Marijuana Inc. are among the leading companies operating in the global Cannabidiol (CBD) Market.
COVID 19 Impacts
The spread of the covid-19 virus has caused extraordinary lockdowns in industries around the world, disrupting and destroying many of their daily operations. This has caused retail stores to close, leading to a shortfall in the global market's supply chain. The primary source of this disruption has been the shutdown of raw material-producing countries such as China and India. Moreover, the supply chain and production of cannabidiol-based products in the US has been severely impacted by the disruption of other raw material supplies.
Companies Mentioned
Folium Biosciences
Aphria Inc.
Elixinol Global Limited
LLC.
Green Roads of Florida
Freedom Leaf Inc
CBD Health Solutions
CV Sciences
Isodiol International Inc
Canopy Growth Corporation and Medical Marijuana Inc.
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