According to the MRFR reports, the global CBD market will likely exhibit a healthy CAGR of 125.58% during the review timeframe. The Size is expected to go from USD 3,088.51 million in 2018 to over USD 2,207,162.54 million by the end of 2027.
Owing to the lack of psychoactive effects, CBD is cannabidiol and has become the most broadly used among all other cannabinoids. CBD has several medical uses, such as reducing anxiety, cancer symptoms, pain, stress and diabetes, depression, and inflammation. The global CBD market has witnessed a record-worthy growth in recent times. The extensive usage is driving the growth of the market for CBD for ailment purposes, adequate aid from varied private organizations and government bodies, the surge in the research and development activities, the increase in chronic diseases and complications, and the legalization of Marijuana in several countries. However, the stringent government policies and misconceptions, and adverse effects of cannabis are likely to restrict the growth of the CBD market over the review timeframe. CLICK HERE
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Key Players
Some of the eminent CBD manufacturers listed in the MRFR study are ENDOCA, CV Sciences, Inc, Canopy Growth Corporation, Green Roads of Florida LLC, Freedom Leaf, Inc, Aphria Inc., Folium Biosciences, Elixinol Global Limited, Medical Marijuana, Inc., Isodiol International Inc, CBD Health Solutions, LLC, to name a few.
Segmental Analysis
Application, end user, forms, product, routes of administration, and source are the primary segments covered in the study of the CBD (Cannabidiol) industry.
The applications of CBD are energy drinks, protein bars, diabetes, fibromyalgia, and neurodegenerative disorder.
Major end-users that have been profiled in the report include food & beverage coupled with healthcare.
CBD is sold in two forms, which are liquid as well as solid.
The product-based segments are therapeutic grade and food grade.
Routes of administration covered are organic along with inorganic.
Sources can be capsules, inhalation (smoke or vapor), tincture, product (food grade along with therapeutic grade), aerosol spray, and many more.
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Regional Analysis
Americas procures the lead, capturing a considerable share in the worldwide industry, in response to the massive demand for cannabis-based items. CBD has major medical applications in the region, especially in the United States, where anxiety and depression cases are surging at an alarming pace. Additionally, the extensive pool of health-focused people and the strong base of affluent manufacturers translate into an incredible growth of the CBD industry.
Europe is making tremendous profits in the global industry and is the second in lead. Europe’s robust market position can be credited to the high awareness among people about the benefits of CBD and the burgeoning use-cases in the food industry. CBD’s legalization in the region encourages open distribution in several countries.
Asia Pacific, led by India, Japan, and China, will be the third top gainer in the worldwide market. The CBD legalization in China as well as the Public Security Bureau & Yunnan provincial government granting the go-ahead to the first-ever hemp unit extraction factory has given a major push to the APAC market growth.
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