Cannabidiol Market revenue worth over USD 89 Bn by 2026: Global Market Insights, Inc.

Peru cannabidiol market is estimated to achieve more than 59.5% CAGR during 2020-2026 owing to the recent legalization of cannabis and its derivatives for therapeutic and medicinal use.

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Selbyville, Delaware, Feb. 20, 2020 (GLOBE NEWSWIRE) --

Global Market Insights, Inc. has recently added a new report on cannabidiol (CBD) market which estimates the global market valuation for cannabidiol will cross US$ 89 billion by 2026. Growing medical applications and increasing sales of cannabidiol derived products in retail stores are two major factors supplementing the market growth.

After passing the Farm Bill in 2018, there has been a significant demand for CBD products across the globe especially in developed countries such as the U.S., France, Canada and Netherlands among others. The sales of CBD products are also increasing rapidly as cannabidiol-based products contain trace amounts of THC (psychoactive compound) and varied amounts of CBD. Also, many cannabidiol product manufacturing companies have partnered with big retail stores across countries which is expected to double the sales.

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The product segment of CBD market is classified into oils, tinctures, suppository, transdermal patches, isolates, tablets, capsules, vape oils, creams & roll-ons and others. CBD capsules segment is expected to grow with a CAGR of 53.4% during 2020 to 2026. This is mainly due to the various applications and the hassle-free process of consumption. In addition, capsules can also be given to children suffering from severe neurological disorders such as Parkinson’s disease and epilepsy. Thus, due to such benefits, the CBD capsules market is expected to garner a high CAGR during the analysis period.

Some major findings of the cannabidiol market report include:

  1. Growing medical applications of CBD.

  2. Increasing product adoption and utilization owing to government approvals.

  3. Changing regulatory landscape for approval of CBD globally.

  4. Increasing sales of CBD in retail stores.

According to this GMI report, the neurological conditions application segment is projected to grow with a considerable CAGR of 51.8% during the forecast timeframe. Cannabidiol has been proven to reduce the seizures and nausea associated with few of the neurological conditions such as Parkinson’s disease, Alzheimer’s disease, epilepsy and others. There around 5.5 million individuals in the U.S. suffering from Alzheimer’s disease and around 1.2% of the total U.S. population suffers from epilepsy. Such increasing incidences of neurological disorders will aid in augmenting the CBD market growth.

Topical route of administration segment accounted for around 20% market share in 2019 owing to their increased adoption for skin care applications and few skin conditions. In South Korea, utilizing cannabidiol based products for skin care and beauty is a major factor driving the market growth. This trend has been further adopted by various other countries due to the popularity of certain K-Pop entertainers.

Browse key industry insights spread across 180 pages with 364 market data tables & 14 figures & charts from the report, “Cannabidiol (CBD) Market Share & Forecast, 2020– 2026” in detail along with the table of contents:

By source, the CBD market is segmented into marijuana and hemp. Hemp segment is expected to grow with a higher CAGR of 53.1% and is predicted to continue this trend throughout the forecast timeframe. Hemp consists trace amounts of THC, whereas CBD is present in huge amounts, thus CBD based products are being utilized for treating various ailments. Additionally, majority of the countries have only legalized farming of hemp instead of marijuana as it contains THC which is a psychoactive substance. Thus, owing to the aforementioned factors, the market is expected to gain traction during the coming years.

According to distribution channel, the online segment was valued at USD 1,306.9 million in 2019. Regulations regarding the sales of CBD products have been vague and products cannot be sold directly in retail stores. Prominent examples of such countries include India, China, Germany and Malaysia among others. Online selling platforms such as company websites, Amazon, Alibaba and Flipkart aids in selling the products without any hassle across the globe, which results in increased adoption.

The report forecasts, Peru cannabidiol market to grow at more than 59.5% CAGR during 2020-2026 owing to the recent legalization of cannabis and its derivatives for therapeutic and medicinal use. Additionally, favorable climate for the production of cannabis which will allow up to five harvests per year and low-cost labor also contributes to the market growth. Cost-effective conditions and increasing awareness regarding hemp farming and benefits will further create many lucrative opportunities for key market players, thereby driving the market growth.

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A few notable companies operating in cannabidiol market share include Medical Marijuana Inc., CV Sciences, Aurora Cannabis, Canopy Growth Corporation, NuLeaf Naturals, Tilray and Green Roads, Endoca, Elixinol and Folium Biosciences among others. Industry players are focusing on various strategies such as novel product launches, strategic partnerships and business expansion to consolidate their market presence. For instance, in December 2019, Canopy Growth Corporation announced the launch of hemp derived CBD products including oils, soft gels and creams on their first e­commerce site. This new product launch will help the company increase their customer base as well as revenue.

Partial chapters of report table of contents (TOC):

Chapter 3.  Cannabidiol Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 – 2026

3.3. Industry impact forces

3.3.1.  CBD Market Growth drivers

3.3.2.  Industry pitfalls & challenges  Side effects associated with CBD oil    Duplicate & synthetic products available in the market    High cost of CBD products    Over complicated prescription process

3.4. Growth potential analysis

3.4.1. By product

3.4.2.  By application

3.4.3.  By route of administration

3.4.4.  By source

3.4.5.  By distribution channel

3.5. Cannabidiol trends for veterinary products

3.6. Regulatory landscape

3.7. Porter’s analysis

3.8. Competitive landscape, 2018

3.8.1. Market structure

3.8.2.  Company market share analysis

3.8.3.  Competitive matrix analysis

3.9. PESTEL analysis

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.


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