North America to Maintain Growth Precedence in Global CBD in CBD Consumer Health Market
As cannabidiol (CBD) use ban lies obsolete in many countries, adoption of CBD across verticals such as health and personal care products market is experiencing massive growth spurt in the coming years. Adroit Market Research investigates new developments and scope of investments based on segment potential, in its recent report compilation on CBD in healthcare market report. The global CBD Consumer Health market is anticipated to cross USD 57.8 billion by 2028, growing at a CAGR of over 20.0%.
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Matured economies which has set a precedence by legalizing adoption of CBD in permissible levels in healthcare and personal care products, the country has witnessed tremendous market expansion with new line of players joining the league. According to a recent research, the overall value of CBD market in 2019 rose to $1 billion and it is estimated to maintain steady momentum in the coming years as well. Following suit, Europe is likely to maintain a healthy growth potential for the forecast time frame.
Topical CBD Infused Products to Hold Precedence in Terms of Segment Potential
CBD consumer health market participants are increasingly favoring effective marketing strategies fueled by strong portfolios and appropriate tactical decisions to fortify positioning. Portfolio diversification is a key strategic business decision to elevate position in the competitive landscape.
Players are unveiling new products such as topical formulations with CBD infusions, to entice greater adoption. Therefore topical formulations of CBD consumer products are likely to hold maximum segment potential in the forthcoming years.
Consumer products such as skin and hair care products are being prepared organically as consumer preferences shift swiftly towards organically sourced products as opposed to chemical products that wreck harmful side effects upon prolonged exposure.
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CBD extracts are being highly employed in nutraceutical products to align with consumer preferences. Facility expansion, geographical penetration, novel strategic investments such as social media penetration to entice greater consumer adoption in the forthcoming years.
Key vendors in the market include Elixinol Global Limited, ENDOCA, NuLeaf Naturals LLC, Kazmira, Charlotte’s Web, Joy Organics, Lord Jones, Medical Marijuana Inc, CV Sciences Inc, and Isodiol International Inc.
Key segments of the global CBD consumer health market
Product Overview, 2018-2028 (USD Million)
- Medical OTC Products
Distribution Channel Overview, 2018-2028 (USD Million)
- Retail Pharmacies
- Retail Stores
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code – Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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