Recent research shows that the Global CBD Market has undergone a remarkable growth in the past few years and the market is also anticipated to find more opportunities to grow further in the projected of 2022 to 2027.
The health beneficial properties such as pain relief, healing and sedative effects of CBD help the CBD Market to grow in past years. Also, the rising awareness about the benefits of CBD products as well as government approval of its’ use in different countries is expected to fuel the market growth in future years.
Due to Covid-19 pandemic the CBD Market has witnessed a huge loss like any other Markets. The supply chain and production sectors were highly affected because of continuous lockdowns and restrictions during covid times.
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Key Players
Folium Biosciences, Aphria Inc., Green Roads of Florida, Freedom Leaf, Inc, LLC, ENDOCA, LLC, CBD Health Solutions, CV Sciences, Isodiol International Inc, Canopy Growth Corporation, Medical Marijuana, Inc., Elixinol Global Limited
Segmental Analysis
The Global CBD Market is segmented into Source type, Sells channel, end-use and region.
Depending on the source type, The Global CBD Market size is divided into marijuana derived CBD products, Hemp derived CBD products and others. Marijuana derived products dominant this segment and holds a significant share. Also, the Hemp derived products are expected to witness a rapid growth in the future.
Depending on the end-use, market is divided into pharmaceutical, foods and beverages, pet care, cosmetics etc. In this segment pharmaceutical holds the largest Global CBD Market share and also predicted to grow further within the forecasted period.
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Regional Analysis
According to the regional classification the Global CBD Market is divided into North America, Latin America, Middle East Asia, Asia Pacific and Europe.
North America holds the largest Global CBD Market size due to rising awareness of CBD products benefits, partial approval from the government to use the drug in this region.
Also, Europe and Asia Pacific regions are expected to be the fastest growing markets during the projected period because of the increasing demand of CBD products in medical, healthcare and cosmetics sectors. Therefore, these regions will also hold a significant amount of Global CBD Market revenue in upcoming years.
Industry News
The US Senate has announced a specific process Cannabinoid production and labeling in May,2021. This helped the CBD manufacturer to produce CBD products which is approved by the FDA.
In June 2021, An US-based company Vertical Wellness reported their merge with CanaFarma Hemp Products Corp., (Canada). This merge with help to expland the Vertical Wellness product portfolio and increase their consumer base.
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