Cannabidiol (CBD) is a synthetic in the hashish sativa hemp, also called as marijuana. Above 80 synthetics, known as CBD, have been detected in the hasish sativa hemp. CBD is mostly utilized for treatment purpose owing to the shortage of psychoactive impacts. In several clinical usage, CBD oil is utilized, such as depression and nervousness, pressure relief, mellitus deterrence, agony break, malignancy prodrome relief, and contamination. Owing to the rising acceptance of CBD-based goods to cure diseases, the global cannabidiol market is anticipated to fuel at a profitable rate during the predicted duration.
The global cannabis extract market is projected to be evaluated at US$ 10,738.1 Million in 2022 and is anticipated to touch US$ 38,528.3 Million by 2030, observing a CAGR of 17.3% during the predicted duration (2022-2030).
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Drivers:
The rising need for hashish for the cure of cognitive impairment such as anxiety, nervousness, and epilepsy is anticipated to fuel the development of the global cannabis extract market during the predicted duration. Major producers in the market are aiming on announcing goods filled with CBD oil. CBD oil is a lawful and non-psychoactive element of hemp, which can be employed in several organizations such as pharmaceuticals, food, health products, and beauty. For example, as per 2018 information from the HHI, CBD is frequently utilized to cure several hearty difficulties such as sleeplessness and nervousness.
The rising cases of enduring illness such as malignancy, mellitus, and others are anticipated to fuel the global cannabis extract market development. For example, as per the data submitted by GLOBOCAN 2020, in 2020, an approximately 19.3 mn novel malignancy incidences were treated globally, with nearly 10.0 mn carcinoma morbidity.
Furthermore, as per the WHO, 2.5 % of the globe’s populace employ hashish in few form or other each year, leading to rise in CBD need. Moreover, as per the NCBI, CBD oil is utilized to cure 62 % of the globe’s populace distressing from enduring illness. Hence, the increase in malignancy and other enduring ailment results is fueling the global cannabis extract market development.
Impact of Coronavirus
From the corona virus outburst in December 2019, the ailment has expanded to nearly 100 regions over the world. The coronavirus epidemic and shutdown in several regions over the world has affected the economic status of trade in all segments. Private hospital segment is one such segment, which is mainly affected by the corona virus epidemic.
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The Covid-19 epidemic has adversely affected the growth, manufacture, and distribution of raw goods particularly in private section. The presence of stringent officials by government establishments and the huge price of hashish goods are few main reasons restricting the development of the market. Additionally, the lack of authorization creativities in many Asian and African regions is other main reason obstructing the global cannabis extract market development.
Restraint
Shortage of data and perception about the several advantages in the rising areas of the globe and stringent official involvement about CBD utilization are reasons hindering the global cannabis extract market.
Key Players
Key players set up in the global cannabis extract market are Cannabis Science Inc., Terra Tech Corp., Teva Pharmaceutical Industries Ltd., Canopy Growth Corporation, VIVO Cannabis Inc., MedMen, Tilray Inc., STENOCARE, Aurora Cannabis Inc., Aphria Inc., Maricann Group Inc., Tikun Olam, Medical Marijuana, Inc., Cronos Group Inc., and Organigram Holdings Inc.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Cannabis Extract Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Cannabis Extract Industry Impact
Chapter 2 Global Cannabis Extract Competition by Types, Applications, and Top Regions and Countries
2.1 Global Cannabis Extract (Volume and Value) by Type
2.3 Global Cannabis Extract (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Cannabis Extract Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Cannabis Extract Market Analysis
Chapter 6 East Asia Cannabis Extract Market Analysis
Chapter 7 Europe Cannabis Extract Market Analysis
Chapter 8 South Asia Cannabis Extract Market Analysis
Chapter 9 Southeast Asia Cannabis Extract Market Analysis
Chapter 10 Middle East Cannabis Extract Market Analysis
Chapter 11 Africa Cannabis Extract Market Analysis
Chapter 12 Oceania Cannabis Extract Market Analysis
Chapter 13 South America Cannabis Extract Market Analysis
Chapter 14 Company Profiles and Key Figures in Cannabis Extract Business
Chapter 15 Global Cannabis Extract Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology
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