Dublin, Aug. 3, 2022 (GLOBE NEWSWIRE) — The “Global Cannabidiol (CBD) Market: Analysis by Product, by Source, by End User, by Distribution Channel, by Region Size and Trends with Impact of COVID-19 and Forecast to 2026” the report has been added ResearchAndMarkets.com’s offers
In 2021, the global CBD market was valued at US$ 4.2 billion. The market is expected to reach US$ 12.64 billion by 2026. Increasing regulatory approvals are one of the major drivers of the market. The CBD market is expected to grow at a CAGR of 25.53% during the forecast period 2022-2026.
Market Segmentation Analysis:
By Product: The report identifies eleven segments based on product: oil, tinctures, capsules, cream and roll-on, isolates, transdermal patches, suppositories, CBD inhalers, vape oil, tablets and others. By Source: The report includes bifurcation of the market into two segments on the basis of source: Marijuana and Hemp. By End User: Based on the end user, the market is divided into two segments: medical and other end users. By Distribution Channel: The report includes bifurcation of the market into two segments based on distribution channel: Online and OfflineBy Region
Global CBD Market Dynamics:
Growth drivers: The market has been growing over the past few years, owing to factors such as rising millennial population, increasing government approvals, growing application of CBD in the healthcare industry of the skin, the increased prevalence of chronic pain, etc. The versatile cannabis compound is well-known among millennials, and its future looks promising. Millennials are about twice as likely as adults in general to have tried foods and beverages containing both CBD and THC. CBD’s benefits for mental well-being, which include alleviating symptoms of depression, reducing anxiety, and improving sleep, are especially appealing to millennials, the generation credited with normalizing the mental health discourse. Challenges: However, the market has faced some challenges. specifically, availability of duplicate and synthetic products, lack of awareness among consumers, etc. The availability of duplicate and synthetic products has become a serious problem for consumers and sellers. Trends: The market is expected to grow at a rapid rate during the forecast period. , due to several recent trends such as the increase in online sales of cannabidiol (CBD), the use of blockchain technology, the increase in demand for natural products, the expansion of research areas, the ‘increased demand for ingestible products, etc. Due to the convenience and heavy discounts offered by the online platforms people are shifting to e-commerce. Online platforms also expand the reach of manufacturers and allow them to sell CBD products even to those customers who were unfamiliar with CBD-based products.
The key players in the global CBD market are:
Canopy Growth CorporationElixinol Wellness LimitedJazz Pharmaceuticals PLCHigh Tide Inc. (NuLeaf Natural LLC)CV Sciences Inc.Tilray Brand Inc.Medical Marihuana, Inc.Aurora Pharmaceutical, Inc.MedterraEndocaIsodiol International Inc.CBD American Shaman
Key topics covered:
1. Executive summary
2. Introduction
3. Global market analysis
4. Analysis of the regional market
5. Impact of COVID-19
6. Market dynamics
7. Competitive landscape