Cannabidiol Market 2020 By Regional Trend & Growth Forecast To 2026
Category: #business  By Ronak Bora  Date: 2021-03-20
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Cannabidiol Market 2020 By Regional Trend & Growth Forecast To 2026

Cannabidiol Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Amplifying sales of cannabidiol-derived products on account of their role in medical applications have been driving the growth graph of cannabidiol market share. CBD-based products have gained massive demand after passing of the Farm Bill in 2018, especially in developed nations, such as Canada, Netherlands, the U.S., and France. Also, changing regulatory landscape pertaining to the approval of cannabidiol-derived products will further spur cannabidiol industry growth.

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As per a research report published by GMI., cannabidiol market size is expected to surpass $89.0 billion in revenue by 2026.

The marijuana plant and hemp plant are the main sources of cannabidiol. CBD sales from marijuana plant are slated to surpass sales worth more than US$25.4 billion by 2026. Marijuana-based products are experiencing a rapid adoption in food and dietary supplements as they can help suppress symptoms related to several neurological disorders.

The different types of CBD products include oils, vape oil, tinctures, tablets, capsules, roll-ons, creams, suppository, and transdermal patches, among others. Creams and roll-ons accounted for more than 12% of global CBD industry in 2019. Roll-ons containing CBD oil can sooth and relieve the skin instantly. Growing use of creams and roll-ons as a substitute to beauty and cosmetics will positively impact CBD consumption.

Cannabidiol products are used in applications including stress and anxiety, migraine, seizures, sleep and insomnia, chronic pain, skin care, and neurological conditions, among others. The use of CBD in skin care applications is projected to grow at a CAGR of more than 53.3% through 2026, with a robust demand for high-quality beauty and personal care products.

CBD-based products can be inhaled, administered topically, orally, or rectally, or used in the form of transdermal patches. Vape oil inhalation segment accounted for more than 7% revenue share of cannabidiol industry during 2019. Inhalation of vape oils is a easy and convenient option for patients having difficulty in taking medication orally.

Europe CBD market size is projected to grow at a CAGR of over 35.2%, reaching an annual valuation of US$23.53 billion by 2026. The regional cannabidiol consumption can be associated with a large prevalence of stress, anxiety and associated health problems. In addition to alleviating stress and anxiety, CBD is effective in treatment of depression, chronic pain, inflammation, and other health problems. Research activities have also shown its effectiveness in treatment of chronic back pain, osteoarthritis, and cancer.

In terms of the distribution channel, offline segment captured over 54% revenue share of CBD market in 2019 and will continue to witness a notable growth. This can be attributed to a changing regulatory scenario and growing sales of cannabidiol products via large retail outlets.

Medical Marijuana Inc., Canopy Growth Corporation, GW Pharmaceuticals, Gaia Herbs, LLC, Folium Biosciences, Green Roads, Tilray, Aurora Cannabis, and CV Sciences are a few prominent names in global cannabidiol industry. These players are focusing on expansion of their production facilities and take advantage of the globally rising CBD demand.

In September 2020, Medical Marijuana Inc. announced the expansion of its manufacturing and warehousing facility, enabling wider product research and development and internal manufacturing, and further vertically integrating its supply chain. The company also disclosed plans to manufacture, encapsulate, and package 80% of its products including CBD-based liquids, powders, capsules, and topicals, in-house. 

Browse full table of contents (TOC) of this report @  https://www.decresearch.com/toc/detail/cannabidiol-cbd-market

Partial Chapter of the Table of Content 

Chapter 6.  Cannabidiol Market, By Route of Administration

6.1. Key segment trends

6.2. Oral

6.2.1.  Market size, by region, 2015-2026 (USD Million)

6.3. Topical

6.3.1.  Market size, by region, 2015-2026 (USD Million)

6.4. Inhalation

6.4.1.  Market size, by region, 2015-2026 (USD Million)

6.5. Transdermal patches

6.5.1.  Market size, by region, 2015-2026 (USD Million)

6.6. Rectal

6.6.1.  Market size, by region, 2015-2026 (USD Million)

6.7. Sublingual

6.7.1.  Market size, by region, 2015-2026 (USD Million)

Chapter 7.  Cannabidiol Market, By Source

7.1. Key segment trends

7.2. Marijuana

7.2.1.  Market size, by region, 2015-2026 (USD Million)

7.3. Hemp

7.3.1.  Market size, by region, 2015-2026 (USD Million)

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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