Cannabidiol Market Growth Trends
The global cannabidiol market size is anticipated to reach USD 35.20 Billion By 2027, growing at a CAGR of 22.2% over the forecast period as per the new research report published by Confianza Market Research & Consultancy. The factors driving the market growth are the legalization of marijuana, hemp & its derivatives for medicinal purposes, food & beverages, pharmaceuticals & nutraceuticals.
The Cannabidiol is first extracted from Cannabis Sativa plat in 1940, it is a hemp derivative. The United States has legalized the sale of hemp and it’s derivatives (except few) for medicinal applications. The CBD derivatives are used for medicinal, cosmetics, food & dairy, supplement products. CBD oil is in high demand for medicinal usage in the treatment of mental disorders. CBD with less than 0.3% THC is permitted in cosmetics
The CBD is considered effective in the treatment of dystonia, epilepsy, Parkinson’s disease, and other similar medical conditions. Cannabidiol directly have effects on the brain, Cannabidiol helps to prevent the breakdown of the chemicals in the brain which affects mood, and mental function, pain. Due to the prevention of the breakdown of the chemicals, it increases its levels in the blood and reduces psychotic symptoms related to conditions such as schizophrenia.
Canada is the major player in this market as the use of Cannabidiol for medical and recreational purposes is legal in Canada, hence it is the major supplier of the Cannabidiol. North America and Europe are the key international markets for Cannabidiol. In the last few years, the Global cannabidiol market has witnessed tremendous growth due to its legalization in few countries with a limited amount as well as global healthcare spending is increased.
Read Detailed Analysis and Download FREE Sample Report Here: Cannabidiol CBD Market Size, Share & Trends Analysis Report 2020-2027
CBD Market Segmentation
- Global Cannabidiol CBD Type Insights
- Global Cannabidiol CBD Distribution Channel Insights
- Hospital Pharmacies
- Retail Stores
- Global Cannabidiol CBD End-Use Insights
- Personal Use
- Global Cannabidiol CBD Regional Insights
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- North America