October 24, 2019
According to the latest study titled ‘Global Cannabidiol (CBD) Market (2019 Edition): Analysis By Source (Hemp, Marijuana), Application (Pharmaceuticals, Cosmetics Industry, Others): Opportunities and Forecast (2017-2024)’ available with Market Study Report LLC, the global cannabidiol market is estimated to grow substantially by the year 2025.
Cannabidiol is obtained from cannabis plant and is devoid of THC content, hence offering both medicinal and therapeutic benefits without being psychoactive. The product is used for treatment of pain, anxiety, movement disorders, and cognition.
Increasing awareness regarding the health benefits related to cannabidiol consumption, coupled with rapid legalization & acceptance of product across various nations is projected to foster the market growth. Extensive use of product in manufacturing of personal care products, medical drugs, and food & beverages, along with increasing disposable incomes are other factors boosting cannabidiol demand. However, strict regulations regarding recreational use of cannabis and illegal dealings of cannabidiol will hamper the market growth.
As per the report, cannabidiol market was worth US $708.55 million in 2018. The study encompasses details about production & consumption patterns, capacity growth, and revenue share for each segment and manufacturer. It also provides a comprehensive synopsis of restraints, driving force, and trends impacting the market growth.
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Based on source, cannabidiol market is segmented into hemp and marijuana. While based on application, the industry is bifurcated into cosmetic, pharmaceuticals, and others.
Considering the geographical landscape, the global cannabidiol industry is fragmented into four main regions which are North America, Asia Pacific, Europe, and rest of world. The study studies countries, namely, Germany, United States, Australia, and Canada to analyze the market trends.
The key contenders operating in cannabidiol market outlined in the report comprise of Canopy Growth Corporation, Mary’s Medicinals, Folium biosciences, Medical Marijuana, Inc., and Aphria, Inc.
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