Cannabidiol Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

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Cannabidiol Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Status : December, 2022 | Pharmaceutical

Report Digest

Cannabidiol Market: Overview

The use of cannabidiol is increasing at a rapid rate over the years. Cannabidiol is a widely used type out of all cannabinoids. The healing properties and the overwhelming demand for cannabidiol for health and wellness purposes will bring tremendous growth opportunities for the global cannabidiol market during the forecast period of 2020-2030.

The acceptance of cannabidiol has undergone a seismic shift. Earlier, cannabidiol was not accepted with open arms but as time progressed, it gained acceptance from many countries. This aspect will boost the growth prospects of the cannabidiol market to a certain extent.

Cannabidiol, also abbreviated as CBD, is derived from the cannabis plant. The plant is believed to have properties that can cure chronic pain and depression. It is a popular natural remedy used for treating various ailments. The wide range of benefits offered by cannabidiol will bring tremendous growth opportunities for the cannabidiol market.

The growing use of cannabidiol in a variety of applications such as pet care, cosmetics, pharmaceuticals, food and beverages, and others may serve as prominent growth boosters for the cannabidiol market. The main sources of cannabidiol are hemp and marijuana.

Cannabidiol Market: Competitive Insights

The cannabidiol market is highly fragmented. A large number of players are involved in intense competition. Mergers and acquisitions play a major role in increasing the growth rate of the cannabidiol market.

Some well-established players in the cannabidiol market are;

  • Nuleaf Naturals, LLC
  • Cannoid, LLC
  • CV Sciences
  • Pharmahemp d.o.o,
  • Isodiol International Inc.

Cannabidiol Market: Key Trends

The growing influence of cannabidiol in the pet industry is expected to bring tremendous growth opportunities for the cannabidiol market during the assessment period of 2020-2030. While skepticism is still prevalent among some pet owners, a large chunk of the populace is being informed through initiatives and campaigns about the benefits of cannabidiol for pets.

The World Health Organization (WHO) had stated in 2017 that CBD is not only safe but is well-received by pets. The growing use of CBD in pet food products will add extra stars of growth to the cannabidiol market.

Studies about the Efficacy of CBD Extracts in Treating COVID-19 to Bring Profitable Growth

The novel coronavirus outbreak has had a large impact on the livelihoods of the entire populace. Researchers have recently discovered that cannabidiol can be used for down-regulating ACE 2 expression in COVID-19 tissues. Such developments will bring extensive growth prospects for the cannabidiol market.

Innovative CBD Products to Fuel Growth

The utilization of cannabidiol in various food items such as oil, capsules, gummies, and others will sow the seeds of growth across the cannabidiol market. The ongoing research and development activities will further propel the demand for cannabidiol in various food products.

Cannabidiol Market: Recent Developments

Here are some recent developments that have the potential to increase the growth rate of the cannabidiol market:

  • Canntab Therapeutics recently bagged an Australian patent for its proprietary cannabidiol formulation.
  • Indena, a pharmaceutical company is now authorized by the Italian Health Ministry to produce cannabidiol extracts for the pharmaceutical industry, becoming one of the few companies in the world to develop CBD for the pharma sector.

Such developments bring intense growth opportunities for the cannabidiol market.

Cannabidiol Market: Regional Prospects

The cannabidiol market in North America is anticipated to emerge as a champion in terms of regional growth during the assessment period of 2020-2030. The decriminalization of cannabidiol across various counties and states around the region will prove to be a prominent growth generator. Asia Pacific may also observe good growth due to the growing legalization and product approvals across various countries.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?