Cannabidiol (CBD) is a chemical in the Cannabis sativa plant, also known as cannabis or hemp. More than 80 chemicals, known as cannabinoids, have been found in the Cannabis sativa plant. It is the second most prevalent active ingredient in cannabis (marijuana). It is a popular natural remedy used for many common ailments. CBD is used to treat epilepsy (seizure disorder). CBD is also used for anxiety, pain, dystonia, Crohn’s disease, Parkinson disease, and several other conditions. However, there is no good scientific evidence to support these uses. Furthermore, CBD oil is used in several medical applications such as stress relief, treatment of anxiety and depression, diabetes prevention, alleviation of cancer symptoms, mitigation of pain, and acne reduction. Thus, there is an increasing demand for CBD and CBD products worldwide.
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Major players operating in the global cannabidiol market are Pharmahemp, NuLeaf Naturals, LLC, Folium Biosciences, Elixinol, Cannoid, LLC, ENDOCA, The Cronos Group, Medical Marijuana, Inc., Isodiol International, Inc., Tikun Olam, Organigram Holding, Inc., ABcann Medicinals, Inc., GW Pharmaceuticals, plc, Tilray, Aurora Cannabis, Aphria, Inc., Canopy Growth Corporation, and Maricann, Inc. (Wayland Group Corporation), among others.
Key Market Drivers:
Increasing government approvals for CBD products and growing medical applications of CBD are expected to augment the growth of the cannabidiol market during the forecast period. For instance, in July 2020, the U.S. Food and Drug Administration (USFDA) approved THC-based drugs, dronabinol (Marinol) and nabilone (Cesamet), prescribed in pill form for the treatment of nausea in patients undergoing cancer chemotherapy and to stimulate appetite in patients with wasting syndrome due to AIDS.
Moreover, rising acceptance and use of CBD products, increase in awareness among people about the therapeutic benefits and healing properties of cannabidiol, and rising research and development activities are expected to propel growth of the cannabidiol market. For instance, in March 2021, the French government launched a 2 year long experimentation of therapeutic cannabis (including THC1) for the benefit of 3,000 patients throughout the country.
COVID-19 Impact Analysis:
The rapid spread of COVID-19 underscores the need for new treatments. Thus, pharmaceutical and biotech companies are focusing on developing safe and effective vaccines to fight COVID-19 (the global pandemic). For instance, researchers from the University of Sao Paulo conducted a randomized, double-blind, placebo-controlled clinical trial to assess the efficacy and safety of cannabidiol (300 mg a day) in patients infected with SARS-CoV-2 (COVID-19). Moreover, according to the Canadian researchers, CBD’s anti-inflammatory properties could be harnessed to treat or prevent COVID-19. This in turn is expected to boost the market growth.
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The cannabidiol market is expected to exhibit a CAGR of 47.3 % during the forecast period due to the rapid development of therapies, medicines, and other consumer products around the world. For instance, in October 2021, Kotomori launched the Japan’s first CBD jelly for people facing sleep and stress problems. Moreover, in May 2020, CBD wellness and beauty line MUKOOMI launched in Tokyo. The brand’s key focus is to become Japan’s go-to CBD wellness and beauty line, with a vision to open to the international market.
Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the cannabidiol market owing to the increasing use of CBD products, increase in awareness among people, growing medical applications of CBD, government approvals for CBD products, and increasing research and development activities in these regions. For instance, in August 2020, GW Pharmaceuticals plc announced that the U.S. Food and Drug Administration (FDA) approved EPIDIOLEX (cannabidiol) oral solution to treat seizures associated with tuberous sclerosis complex (TSC) in patients one year of age and older.
Global Cannabidiol Market, By Product:
- Transdermal Patches
- Vape Oil
- Creams and Roll-on
Global Cannabidiol Market, By Source Type:
Global Cannabidiol Market, By Application:
- Chronic Pain
- Mental Disorders
- Personal Use
- Food & Beverages
- Personal Care & Cosmetics
Global Cannabidiol Market, By Distribution Channel:
- Hospital Pharmacies
- Online Stores
- Retail Stores
𝐂𝐡𝐫𝐢𝐬𝐭𝐦𝐚𝐬 𝐒𝐚𝐥𝐞 𝐈𝐬 𝐋𝐢𝐯𝐞
𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐎 𝐀𝐯𝐚𝐢𝐥 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐅𝐫𝐨𝐦 𝟐𝟓-𝟑𝟎% 𝐓𝐢𝐥𝐥 𝟑𝟏-𝐃𝐞𝐜-𝟐𝟎𝟐𝟏
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Cannabidiol Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Cannabidiol Industry Impact
Chapter 2 Cannabidiol Competition by Types, Applications, and Top Regions and Countries
2.1 Cannabidiol (Volume and Value) by Type
2.3 Cannabidiol (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Cannabidiol Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Cannabidiol Market Analysis
Chapter 6 East Asia Cannabidiol Market Analysis
Chapter 7 Europe Cannabidiol Market Analysis
Chapter 8 South Asia Cannabidiol Market Analysis
Chapter 9 Southeast Asia Cannabidiol Market Analysis
Chapter 10 Middle East Cannabidiol Market Analysis
Chapter 11 Africa Cannabidiol Market Analysis
Chapter 12 Oceania Cannabidiol Market Analysis
Chapter 13 South America Cannabidiol Market Analysis
Chapter 14 Company Profiles and Key Figures in Cannabidiol Business
Chapter 15 Cannabidiol Market Forecast (2021-2027)
Chapter 16 Conclusions
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