Global Cannabidiol Market Report 2021 With Forecast Till 2027

Dublin, Jan 6, 2022 (GLOBE NEWSWIRE) – The “Global Cannabidiol Market (2021-2027) by Source, Distribution Channel, Product, Route of Administration, End User and Geography, IGR Competitive Analysis, Impact of Covid-19 , the Ansoff Analysis report “has been added to ResearchAndMarkets.com offer.

The global cannabidiol market is estimated at USD 2.73 billion in 2021 and is expected to reach USD 7.99 billion by 2027, with a CAGR of 19.6%.

The antibiotic and analgesic effects and properties present in cannabidiol, which can be used to treat a variety of ailments such as anxiety, nausea, stress, chronic pain, neurological disorders and seizures, are likely to contribute to market growth.

Growing medical applications of CBD, increasing R&D in medical cannabis, and increasing adoption and use of products due to government approvals have supported the growth of the cannabidiol market. The changing regulatory landscape and the legalization of the approval of CBD products around the world are also expected to propel the market growth.

However, factors such as the high cost of CBD and the barriers to its commercialization are hampering the growth of the market. Moreover, the lack of consumer awareness is hampering the growth of the market. The lack of legalization programs in several Asian and African countries is also hampering the growth of the CBD market.

Market segmentation

  • By Source, the market is classified as Hemp and Marijuana. The marijuana-derived CBD segment is estimated to hold the highest market share.

  • By distribution channel, the market is segmented into Business to Consumer (B2C) and Business to Business (B2B). The B2C segment is divided into hospital pharmacies, retail pharmacies and online stores. The B2C segment, and especially hospital pharmacies, is expected to hold the highest market share during the forecast period.

  • By product, the market is classified into food grade and therapeutic grade. The therapeutic grade segment holds the highest market share.

  • By route of administration, the market is classified as inhalation (smoke or vapor), aerosol, capsules, tincture aerosol and others. Among all, the Capsules segment holds the highest market share.

  • By end user, the market is categorized as medical, pharmaceutical, wellness, and others. The Medical segment holds the highest market share.

  • By geography, North America represented the dominant market share and is expected to maintain its leadership position.

Market dynamics

Conductors

  • Increased approvals for medicinal cannabis products for various medical applications such as pain management, improving appetite and reducing eye pressure

  • Growth in medical cannabis research and development

  • Growing legalization of cannabis products

  • Increase in the number of retailers selling CBD products

  • Growing preference for cannabis extracts such as oils and tinctures

Constraints

  • Strict government regulations for the use of CBD products

  • The high cost of CBD

  • Obstacles in terms of marketing CBD products

  • Lack of consumer awareness

Opportunities

Challenges

  • Lack of standardization regarding product quality

  • Side effects associated with CBD

  • Duplicate and synthetic products available on the market

Recent developments

  • Medical Marijuana, Inc. subsidiary Kannaway launches very first CBD fitness program. – May 11, 2020

  • Canadian cannabis companies Tilray and Aphria reveal £ 2.8 billion merger. – December 16, 2020

Company Profiles

  • Canopy Growth Company

  • Isodiol

  • Medical Marijuana Inc

  • CV Sciences

  • Aurora Cannabis

  • NuLeaf Naturals

  • Maricann, Inc. (Wayland Group Corporation)

  • Tilray

  • GW Pharmaceuticals, plc

  • ABcann Medicinals, Inc. (VIVO Cannabis)

  • Organigram Holding, Inc.

  • Tikun Olam

  • The Cronos group

  • Cannoid, LLC

  • Folium Biosciences

  • Kazmira

  • IrieCBD

  • Cura Cannabis Solutions

  • American CBD Shaman

  • General Cannabis Corp.

  • Insys Therapeutics, Inc

  • Endoca

  • Phyto animal health

For more information on this report visit https://www.researchandmarkets.com/r/vm1fcu

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