Cannabidiol CBD Market Size, Share & Trends Analysis Report 2020-2027
The global cannabidiol market is estimated to account for USD 5.2 Billion market size in 2019. The market is anticipated to grow at a compound annual growth rate of 24.5% between 2020 to 2027 as per a new market research report by confianza research. The growth can be attributed to increasing demand for CBD for medicinal usage, especially from the CBD oil market. Moreover, the legalization of CBD & related products in North America has led to substantial CBD industry growth.
Marijuana is widely used in many ancient Indian medicines as prescribed in medical literature such as Ayurveda and Yajurveda. The demand for the legalization of marijuana Has been raised for many years, considering its extraordinary benefits to the human body. Therefore the governments of various countries have recently legalized the usage of CBD for industrial usage including the manufacturing of cosmetics, medicines, food products.
The lack of psychoactive effects in Cannabidiol makes it one of the most widely used cannabinoids. CBD oil is preferred in the treatment of psychological disease treatment including stress, anxiety, depression. It is the main extract obtained from marijuana or hemp plants. The high prices & profit margins of CBD products has attracted many retailers to sell CBD products.
Cannabidiol is extracted from the Cannabis sativa plant. It is one of the prime cannabinoids obtained from marijuana. Cannabidiol when taken in Limited proportion, please found to benefit the human body and is suitable for consumption as per recent research. The demand for CBD oil has increased substantially in the last few years, owing to increasing medicinal & therapeutic usage of the CBD oil.
Based on source type, the global CBD market is segmented into marijuana bases & Hemp-based CBDs. Among these two, the marijuana-based CBD products hold the largest market share of greater than 50% worldwide. The marijuana-based CBD is more efficient compared to its counterpart. Moreover, marijuana is legally available in many countries, which makes it easier to procure & derive CBD from it. Products are available in lotion, cream, concentrate, oil & capsule form for medicinal & cosmetic usage. CBD in the food industry is used to make baked goods, chocolates & candies for consumption.
The hemp-based CBD is widely used in applications such as personal care, Cosmetics, Pharmaceutical, nutraceutical, and food & beverages. The demand for CBD based products is growing exponentially due to its anti-inflammatory and antioxidant properties. However, stringent government regulations act as a challenge for this market growth.
The market is segmented based on the distribution channel into B2B & B2C types. The B2C segment accounted for the largest market share in 2019 with greater than 60% market share. Ease of availability of CBD products and increased user demand for such products is driving the segmental growth. The segment will continue to monitor the market over the forecast period with a maximum market share until 2027.
B2B segment includes production and distribution of CBD based processing and reselling to third party companies. CBD act as a raw material for many products, pharmaceutical companies in CBD from other companies, all search business is included under the B2B segment. The B2B segment is anticipated to gain significant importance in the upcoming few years going to increasing demand for CBD industries from various Industries including Pharmaceutical, food and beverages, nutraceuticals, and other related industries.
By end-use type, the market can be segmented into medicinal, personal usage, pharmaceutical, wellness products. The medicinal segment dominated the market in 2019 with greater than 40% market share. The increasing number of patients of mental disorders, especially in the urban areas, has increased the demand for CBD based medicinal products substantially. It is used in the treatment of diseases & disorders, including schizophrenia, epilepsy, diabetes, chronic pain, among others.
CBD is anticipated to gain significant demand from the Pharmaceutical sector, The segment is anticipated to grow at the highest CAGR between 2020 to 2027. CBD is used in the pharmaceutical industry for of manufacturing of medicines used in the treatment of severe diseases including epilepsy.
North America is the largest producer of CBD oil products & it is expected to continue to dominate the industry over the next decade. it is the main by-product of CBD & has high demand from around the world.
The Cannabidiol market has gained huge attention since the legalization of marijuana in the U.S., many new players are entering the market considering the high demand for CBD products in the region. top CBD companies include ENDOCA, Isodiol International Inc., Medical Marijuana Inc, Cannoid LLC, Elixinol, Folium Biosciences, NuLeaf Naturals LLC, and Pharmahemp d.o.o.
These companies utilize business strategies such as new product launch, mergers & acquisition for gaining greater market share.
|Base year for estimation||2019|
|Actual estimates/Historical data||2017 – 2019|
|Forecast period||2020 – 2027|
|Market representation||Revenue in USD Billion & CAGR from 2020 to 2027|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, UK, Germany, France, China, India, Japan, South Korea, Taiwan, Brazil, Mexico, UAE, and KSA|
|Report coverage||Market size estimates and forecast, company market share analysis, competitive landscape, market dynamics, drivers, restraints, opportunities & challenges, qualitative analysis and trends|
|25% free customization scope (equivalent to 9 analysts working days)||Do you have any additional requirements? We can incorporate the same at no extra cost.|
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