As per the report published by Fior Market, the global cannabidiol (CBD) market is expected to grow from USD 1,453.81 Million in 2018 to USD 17,345.80 Million by 2026 at a CAGR of 36.3% during the forecast period 2019-2026.North America region is dominating the market due to the wide availability of marijuana-derived CBD product in the region. Also, shifting consumers preferences towards ingesting edibles and vapes products are further driving regional market growth.
Cannabidiol (CBD) Market by Product (Food Grade, Therapeutic Grade),Application (Neurogenerative Disorder, Fibromyalgia, Diabetes, Others),Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026.
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Leadersin the industry include Aurora Cannabis, Canopy Growth Corporation, CBD American Shaman, CV Sciences, Inc., Elixinol, Folium Biosciences, Gaia Botanicals LLC, IRIE CBD, Isodiol International Inc, NuLeaf Naturals, LLC.,Pharmahemp d.o.o.,and among many others. The companies are adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership to maintain their presence in the global market.For instance, in Feb 2018, Marijuana Company of America (MCOA) launched its hempSMART Full Spectrum Pet Drops with specially formulated product containing naturally occurring CBD derived from hemp seed oil, full spectrum hemp extract, and fractionated coconut oil, along with a rich bacon flavor.
Cannabidiol (CBD) is a naturally occurring compound obtained from cannabis plants.The cannabidiol (CBD) market is segmented on the basis of product and application. The product segment is segmented into food grade and therapeutic grade. The therapeutic grade segment is dominating the market and valued around USD 870.83 Million in 2018. It is due to its health benefits that help in the treatment of neuropsychiatric disorders. CBD also has the potential to treat other chronic disorders which is likely to spur the product demand. CBD does not have any synthetic ingredients or harmful contaminants and hence are safe to consume. In addition,cannabidiol (CBD) drugs has potential to treat the chronic disorders. The application segment is segmented into neurogenerative disorder, fibromyalgia, diabetes, and others. The fibromyalgia segment is dominating the market with the highest share of 47.20% in 2018. It is due to the increasing instances of the physiological disorder among people especially young adults that the demand for fibromyalgia is growing rapidly.The symptoms such as widespread musculoskeletal pain, fatigue, and other types of discomfort led to the fibromyalgiadisorder. Furthermore, women tends to develop fibromyalgia than are men. Many of the emerging countries are legalizing the use of cannabis for medicinal purposes. Cannabidiolcan efficiently reduce pain, improve sleep, and reduce headstrong pain for people with fibromyalgia. Thecannabidiol (CBD) oil is effective to lessen the migraine and irritable bowel syndrome.
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Cannabidiol (CBD) is a naturally occurring compound obtained from cannabis plants.Increasing usage of cannabidiol (CBD) in medical application, supplements, beverages and skin care has stimulated the growth. Significant R&D investments in the pharmaceutical industry and adoption of numerous cannabis products along with the rising consumers spending on cannabis products has prompted the growth of the market. Also, approval of pharmaceutical CBD for pain treatment in cancer patients and epidiolex is also influencing growththe growth of the market. Butlack of knowledge about the advantages of the productmay pose a major threat to the product. However, the high-profit margin in the cannabidiol products is likely to propel the growth of the cannabidiol products marketin the coming years.
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