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Cannabidiol Market to Register an Outstanding CAGR of 46.4% by 2027; High Utilization of CBD in Medicines to Facilitate Growth

August 25, 2020 | Food & Beverages

The global cannabidiol market size is expected to reach USD 39.99 billion by 2027. The astonishing health benefits of CBD in insomnia and anxiety will induce the expansion of the CBD business during the forecast period, mentioned in a report, titled “Cannabidiol (CBD) Market Size, Share & COVID-19 Impact Analysis, By Source (Marijuana and Hemp), Application (Food & Beverages, Pharmaceuticals, Pet Care, Cosmetics, and Others), and Regional Forecast, 2020-2027.” The market size stood USD 2.19 billion in 2019 and is expected to exhibit a CAGR of 46.4% between 2020 to 2027.


Launch of Cannabis-derived Nutraceutical by Medical Marijuana to Boost Growth


Medical Marijuana, Inc, a major producer of hemp-based products with several subsidiaries and also the only traded cannabis company in the United States announced that through its subsidiary Kannaway® introduced the first-ever cannabis-derived nutraceutical products brands and supply chain. The Kannaway® has been awarded the most popular Cannabidiol (CBD) MLM Company in HealthMJ's new 2020. This has made Kannaway in the list of Top 100 MLM Companies of 2020 by Business for Home.


The sanction of the farm bill in 2018 has helped the company develop and innovate its quality to offer the best to the customers. As per the Brightfield Group survey, more than 50 percent of its consumers in the U.S learn about CBD from friends or family, making direct selling companies a perfect fit for the CBD industry. The expansion of this industry in the U.S will consequently create lucrative business opportunities for the market in the forthcoming years. As per Nielsen projects’ data, the U.S. hemp-based CBD market could reach from $2.25 billion to $2.75 billion industry in 2020. The increasing advantage and business for direct selling companies for cannabidiol-related products will have a tremendous impact on the global cannabidiol market.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/cannabidiol-cbd-market-103215


Rising Utilization of CBD in Pharmaceuticals to Augment Growth


The improvements and advancements in the pharmaceuticals have directed to the high utilization of cannabis because of abundant advantages. The health benefits of cannabidiol for various disorders has propelled its use in medical products. The companies are shifting towards plant-based and natural ingredients for the production of novel drugs, which, in turn, will spur the demand of the market. The increasing approval of CBD for medicines and therapies will increase the demand for these products, in turn, boosting the industry. The increasing R&D investment by big corporations for the development of high-end CBD-based medicines will enable speedy expansion of the market in the forthcoming years.


Development of Advanced CBD-based Products to Spur Competition


The rising focus of companies towards the utilization of CBD as the main ingredient in products will consequently fuel demand of the market. The key players are investing in R&D for the development of varied CBD product categories to establish a strong foothold in the market. For instance, Medterra introduced products such as CBD based oil, gummies, capsules, and others. The constant product innovation by major companies to serve the needs of the customers will subsequently augur well for the market. Nonetheless, the emergence of regional companies experimenting with CBD will enhance competition in the near future.


The Report Lists the Main Companies in the Market:



  • Medical Marijuana Inc. (California, U.S.)

  • Cannoid, LLC (Colorado, U.S)

  • Isodiol International Inc. (Vancouver, Canada)

  • ENDOCA (Chicago, U.S.)

  • Folium Biosciences (Texas, U.S.)

  • Nuleaf Naturals Llc. (Colorado, U.S)

  • Pharmahemp d.o.o (Slovenia, Europe)

  • Elixinol Global (Sydney, Australia)

  • CV Sciences (California, U.S.)


Further Report Findings:



  • Regional Analysis: Asia Pacific is expected to hold a significant share in the global market owing to the increasing awareness about the health benefits of cannabidiol products. The tactics of major companies to invest heavily in potential markets of Asia Pacific will enrich prospects of the industry in the region

  • Leading Segment: The marijuana segment is expected to account for the maximum share in the global market due to the increasing availability of marijuana in Europe and North America. The increasing acceptance and legalization will boost the segment’s growth shortly.


The Cannabidiol Market is Segmented into:














































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



  By Source, Application, and Region



By Source


 




  • Marijuana

  • Hemp



By Application


 




  • Pharmaceuticals

  • Food & Beverages

  • Pet Care

  • Cosmetics

  • Others



By Geography


 




  • North America

    • By Source

    • By Application

    • By Country

      • USA

        • By Source



      • Canada

        • By Source







  • Europe

    • By Source

    • By Application

    • By Country

      • Russia

        • By Source



      • Austria

        • By Source



      • Italy

        • By Source



      • Germany

        • By Source



      • U.K.

        • By Source



      • Rest of Europe

        • By Source







  • Asia Pacific

    • By Source

    • By Application

    • By Country

      • China

        • By Source



      • Australia

        • By Source



      • India

        • By Source



      • Japan

        • By Source



      • Rest of Asia Pacific

        • By Source







  • South America

    • By Source

    • By Application

    • By Country

      • Brazil

        • By Source



      • Argentina

        • By Source



      • Rest of South America

        • By Source







  • Middle East & Africa

    • By Source

    • By Application

    • By Country

      • South Africa

        • By Source



      • UAE

        • By Source



      • Rest of the Middle East & Africa







  • By Source


Global Cannabidiol Market
  • PDF
  • 2019
  • 2016-2018
  • 160

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