CBD Market Size, Trends and Growth Analysis by Form, Route of Administration, Application, End User and Region, Global Forecast till 2027
New York, United States - January 20, 2022 /MarketersMedia/ —
CBD Market Scope
CBD market size will be worth USD 2,207,162.54 million by the end of the analysis period. The growth rate expected to be captured by the global CBD market can be a whopping 125.58% over the forecast period.
Top Growth Boosters and Impediments
Cannabidiol has numerous important medicinal applications and is extensively used for treating a number of disorders such as chronic pain, neurological pain, anxiety, stress, nausea, and sleep disorder. Its widespread popularity across the globe is expected to give a substantial boost to the market value in the years ahead. Cannabidiol’s healing attributes, rising use in wellness and health applications and acceptance of CBD-items infused in conjunction with the surge in government approval should have a remarkable impact on the market.
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A mounting number of people are aware about cannabidiol's wide range of therapeutic benefits, compelling them to buy the products regardless of their cost. Significant rise in research & development activities backed by funding from private organizations as well as government bodies elevate the applications of CBD. This should result in extensive market expansion in the coming years.
Brands are increasingly forging long-term partnerships and are focusing on launching improved items while striving to foster their distribution networks. All these measures help the companies expand their consumer bases worldwide. CBD demand has also been escalating in the food and beverage sector, and in view of this, numerous brands are coming up with new drinks. To cite a reference, in January 2022, Bayou City Hemp Co., a major hemp processing & extraction brand in Texas, introduced its first-ever CBD seltzer under, Mixer Elixir, its leading brand. Developed in Houston, Mixer Elixir Ranch Water seltzer is non-alcoholic, zero-sugar, zero-calorie sparkling water, and has 25mg of hemp-sourced CBD.
CBD Market Segment Analysis
The global CBD market is fragmented into numerous segments based on the route of administration, form, source, end-user, application, product, and region.
Based on form, the CBD market is divided into liquid and solid.
The global CBD market is divided into inhalation (smoke or vapor), aerosol spray, tincture, and capsules by route of administration.
The market is divided into therapeutic grade and food grade based on product.
By application, the CBD market is split into energy drinks, neurogenerative disorders, protein bars, fibromyalgia, and diabetes.
The CBD market is divided into food & beverage and healthcare based on end-user.
Based on the source, the market is divided into inorganic and organic.
CBD Market Regional analysis
The global CBD market is studied across four major regions, including the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The American regional CBD market has recorded the maximum share in the global market over recent years. The regional market's growth is attributed to the high consumption of cannabis-based products. As per WHO's reports, the American region has over 22.2 million people consuming CBD-based products aged 12 years and up.
The European regional CBD market secures the second position globally. The regional market's growth is being driven by the legalization of CBD across several parts of the region. Moreover, the approval from several renowned agencies such as the Bulgarian Food Safety Agency, Ministry of Agriculture, and Ministry of Agriculture are also anticipated to catalyze the regional market's growth. Furthermore, the growing participation of new entrants, domestic production of cannabis, and access to medical cannabis are also likely to accelerate the regional market's growth.
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CBD Market Competitive Outlook
The top CBD manufacturers and distributors in the market include CBD Health Solutions, LLC, ENDOCA, CV Sciences, Inc, Freedom Leaf, Inc, Medical Marijuana, Inc., Isodiol International Inc, Aphria Inc., Folium Biosciences, Green Roads of Florida LLC, Canopy Growth Corporation, Elixinol Global Limited, to mention a few.
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