Market Research Future (MRFR) collected data on several factors including implications of covid-19 outbreak on Global CBD (Cannabidiol) Market 2020 and demographic challenges, showed how it could move forward in the coming years.
CBD (Cannabidiol) Market Overview
Cannabidiol (CBD) is a natural compound present in the cannabis resinous flower, a plant with a long history as a medicinal drug stretching back several decades. Today scientists and physicians around the world are researching and verifying the medicinal effects of CBD. CBD is one of over a hundred “phytocannabinoids,” a healthy, non-addictive drug that is specific to cannabis and that endows the plant including its robust medicinal profile. CBD is closely linked to another essential phytocannabinoid involved in the medicine: tetrahydrocannabinol (THC), the compound that induces the high medical marijuana is known for.
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CBD and THC both have great medicinal strengths. Unlike THC, however, CBD doesn’t really make someone feel intoxicated. This is because CBD and THC function on various brain receptors and bodies in differing ways. Indeed, CBD will mitigate or neutralize THC’s addictive properties, based on how much each compound is consumed. Most people like cannabis without the high-or with a little less a high-health benefit. The idea that CBD is both medicinally active and non-intoxic, and easier to take as a CBD oil, makes it an attractive treatment choice for those that try it for the first time.
There’s plenty of hype about CBD’s healing abilities-for justifiable reason. But that wasn’t this until June 2018. Food and Drug Administration (FDA) has accepted cannabidiol as a true medication by recognizing Epidiolex, an almost pure form of prescription CBD, as a cure for two serious pediatric seizure disorders, Lennox-Gastaut syndrome and Dravet syndrome. It was the first time since the height of the reefer madness era 80 years ago – as “marihuana” was a felony rather than a treatment – that the administration gave an official thumbs-up for a drug extracted from cannabis.
CBD Market Key Players
The prominent players in the global CBD market are Aphria Inc., Folium Biosciences, Freedom Leaf, Inc, Green Roads of Florida, LLC, CBD Health Solutions, LLC, ENDOCA, Isodiol International Inc, CV Sciences, Inc, Medical Marijuana, Inc., Canopy Growth Corporation, Elixinol Global Limited.
CBD (Cannabidiol) Market Segmentation
CBD is not a wonder but a substance. Most people may greatly benefit from legal access to a wide variety of cannabis treatments, not just low-THC or no-THC products. CBD alone can not do the trick at all. There is ample evidence that CBD performs best when combined with THC and the wide range of other ingredients of cannabis. In order to understand the global CBD market in a better way, experts have segmented the market.
Based on form, the market has been segmented into:
- Solid
- Liquid
By product:
- Food Grade
- Therapeutic Grade
By routes of administration:
- Tincture
- Capsules
- Inhalation (Smoke or Vapor)
- Aerosol Spray
By application:
- Fibromyalgia
- Neurogenerative Disorder
- Diabetes
- Energy Drinks
- Protein Bars
By end user:
- Food & Beverage
- Healthcare
By source:
- Organic
- Inorganic
CBD (Cannabidiol) Market Regional Overview
These are of course exciting times for the CBD industry. Experts believe that CBD’s future looks bright, with big international retailers willing to store a wider variety of CBD items. That being said, sounding a cautionary note is essential. Big, scientific studies are still in dearth, and several questions need to be answered. To better understand the global market for CBD at regional levels, industry experts have segmented the market based on regions which include North America, Asia Pacific, Europe, and the rest of the world. The countries covered in the report are India, China, the United States, the United Kingdom, Australia, Japan, Germany, and others.
CBD (Cannabidiol) Industry News
Newly implemented government plans for tribal hemp development are giving a strategic advantage to US sovereign countries in cultivating the plant and selling CBD, the communities claim. Following 80 years of ban, when U.S. farmers race to grow hemp, tribal territorial authorities realize they have such an edge so they can avoid red tape to become the first merchants on state markets to sell very own CBD.
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NOTE: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required we will be considering covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.