- Report ID: BMRC 1387 | Number of pages: 200 | Publish Date: Nov 2020
Status: Published | Category: Healthcare | Delivery Timeline:
"Global Cannabidiol Market is valued at USD 5.24 Billion in 2019 and expected to reach USD 20.48 Billion by 2026 with the 21.5% CAGR of over the forecast period"
Global Cannabidiol Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2026- Rising awareness of consumers regarding the medical purposes of Cannabidiol is one of the major factors driving the growth of Global Cannabidiol (CBD) Market.
Cannabidiol is one of the leading cannabinoids extracted from the hemp or from marijuana, which is primarily found in the Cannabis Sativa plant. It is one of the non-psychoactive ingredients in cannabis, increasingly offers wide-ranging health benefits with few side effects and low risk of addiction. The use of cannabidiol is legal in several nations across the globe for industrial applications such as personal care and cosmetics, pharmaceuticals and food and beverages. CBD to consumable products may make it easier for consumers to incorporate it into their lifestyles and gain these benefits. It is another important component, which makes up about 40% of the plant resin extract. CBD is generally used to cure anxiety and for patients who suffer through the despair of insomnia, educations recommend that CBD may help with both falling asleep and staying asleep. For example; cannabidiol is also used to treat cancer. Cannabidiol has become the latest consumer trend, which is a result of the increasing number of social media influencers promoting the benefits of cannabis, promoting initiatives by the industry contributors and growing application areas.
Global Cannabidiol market report is segmented on the basis of type, application, and region & country level. Based upon type, the global Cannabidiol market is classified as hemp-derived type and marijuana-derived type. Based upon application, the global Cannabidiol market is classified into pharmaceuticals industry, food industry, and cosmetics industry and other.
The regions covered in this global Cannabidiol market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Cannabidiol is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Cannabidiol market Report covers prominent players are like Kazmira, CW Hemp/CW Botanicals, Freedom Leaf, Green Road, Medical Marijuana, Folium Biosciences, HempLife Today, Cannavest, Pharmahemp, ENDOCA, CBD American Shaman, NuLeaf Naturals, Select Oil, K.I.N.D. Concentrates, Canopy Growth Corporation, Aphria, Emblem Cannabis Oils, Whistler, The Lab, Absolute Terps and others.
Israeli Researchers have Launched Three Clinical Trials that Utilize CBD’s Anti-Inflammatory Properties as Potential COVID-19 Treatment.
April 25th, 2020; Israeli scientists have launched clinical trials into whether cannabis can play an effective role in stopping or slowing the coronavirus. Though lung health experts have warned smoking marijuana could exacerbate COVID-19 and its spread, Israeli scientists will study cannabidiol (CBD) alongside existing treatment options as a possible solution. InnoCan Pharma announced collaboration with Tel Aviv University to instill CBD medicine through exosomes or the small cell structures created when stem cells multiply. The unconventional method will utilize the exosomes as “homing missiles,” as they can uniquely target cell organs damaged by COVID-19. Researchers then believe CBD’s anti-inflammatory properties will repair the damaged cells through a synergistic effect.
Rising Awareness of Consumers Regarding the Medical Purposes of Cannabidiol is one of the Major Factors Driving the Growth of Global Cannabidiol (CBD) Market
The growth of Cannabidiol is mainly driven by an increasing demand for functional beverages made with healthy, natural ingredients and increasing public awareness of the health and wellness benefits of CBD. Nearly 62% of CBD users reported using CBD to treat a medical condition. The top three medical conditions were pain, anxiety, and depression, according to national center for biotechnology information. Also, CannaHealth predicted that 97% of cannabis users primarily took CBD for chronic pain relief. Additionally, as the diverting market continues to expand, consumers are also experiencing an influx of new products. Apart from traditional cannabis flower, consumers can now choose from a variety of products at dispensaries and trade stores. Recently, cannabis-based concentrates, extracts and edibles are becoming highly popular among consumers. Furthermore, 64 percent of consumers believe that healthfulness is an important factor in choosing food and beverage products.
However, regulation and compliance on the use of CBD in the food and beverage industry have the potential to hinder the growth of the CBD market growth. The CBD Industry is expected to cabinet significant growth opportunity in the forecast period due to rising adoption of natural products over pharmaceutical products.
North America is expected to Dominate the Global Cannabidiol Market
North America is expected the capture the major share of the global Cannabidiol market owing to the increasing adoption of cannabidiol (CBD) infused products in various industries such as pharmaceuticals, personal care and cosmetics and Nutraceuticals along with its medical applications in this region. According to CBD Facts and Stats, 91% of Americans are in favor of legalizing cannabis for medical or recreational purposes. The growing awareness and the getting of CBD products due to its potential health benefits will propel the CBD market growth in Europe. Also, CBD is gaining popularity in the UK. According to healtheuropa, approximately 6 million adults have used CBD in the UK. 11% of the population had consumed a CBD product in the last year. Usage was higher on average among females (13%) than males (9%). The rising investment for cannabis beverages and growing awareness are expected to drive the growth of Cannabidiol market in Asia Pacific.
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Cannabidiol Market Size: By Type( Hemp-derived Type, Marijuana-derived Type), By Applications( Pharmaceuticals Industry, Food Industry, Cosmetics Industry ) Forecast 2020 to 2026