Global cannabidiol (CBD) market size is closing in on US$ 3 billion mark in 2021, according to a new study by Fact.MR.
Growing clamor for full legalization, combined with a ready consumer base will push global demand for cannabidiol products to over 34 billion by 2029. In terms of consumption, cannabidiol demand is set to reach 1.34 million kg by 2029.
Demand of CBD in Pharmaceutical Applications
In addition, cannabidiol reverses hemorrhoids, avoids menstrual cramps, and lowers psychotic events of schizophrenia.
Top CBD companies are promoting it as a ‘no-side effect’ ingredient in pharmaceutical drugs, which makes it a viable alternative to THC (Tetrahydrocannabinol).
While THC shows its effect in the central nervous system (CNS), cannabidiol does the same in the immune system.
Nevertheless, Cannabidiol and THC, after combining in equal ratios, complement each other’s positive impacts – the “entourage” effect, which can influence emerging trends in the cannabidiol market in the coming years.
Apart from pharmaceuticals, Cannabidiol is steadily finding its way in eateries and breweries as well as an ingredient in mocktails, sodas, and others, owing to its anti-anxiety impact.
However, government bodies across the world are imposing restrictions on the addition of cannabidiol in food items, and beverages amid anecdotal clinical evidence, despite the industrial hemp having received a green signal, leaving consumers bewildered about the effects of Cannabidiol.
Furthermore, legal agencies are confiscating consumables offered by restaurant owners, and food manufacturers, which may impact the growth of the cannabidiol market in the coming years.
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CBD Market Trends 2021
The cannabidiol marketplace is likely to witness significant R&D investment in the pharmaceutical industry as a broad-spectrum pharmaceutical therapeutics.
Multiple scientific studies have shown promising results of cannabidiol for its potential in the treatment of a number of diseases. Following which the cannabidiol market is marked by a considerable cannabidiol therapeutics getting FDA approval or moving ahead in the human clinical trials.
For instance, INSYS Therapeutics, Inc. announced in March 2018, the initiation of Phase III clinical trial of cannabidiol oral solution for the treatment of a rare type of pediatric epilepsy, infantile spasms. GW Pharmaceutical plc and Greenwich Biosciences, GW’s subsidiary announced FDA’s approval of EPIDIOLEX® cannabidiol oral solution in June 2018 and from November 2018, the plant-derived cannabidiol is available by prescription in the U.S.
Approval of EPIDIOLEX® cannabidiol has become a landmark announcement as it is FDA’s very first approval of the drug derived from cannabis sativa plant and also validated some of the therapeutic benefits of cannabidiol.
Further, the approval is expected to impact significant economic, political and legislative shifts across the global cannabinoid marketplace. Also, the Drug Enforcement Administration (DEA) is also expected to reschedule and change the classification of cannabidiol compound in the near future.
Use of Hemp-derived CBD Growing
Cannabidiol (CBD) is a non-intoxicating and non-psychotropic cannabinoid, which not only imparts myriad beneficial health effects, but also is deprived of relevant side effects.
CBD is industrial hemp’s primary cannabinoid, present in concentrations between the range 0.5% and 4%.
Major stakeholders in the hemp industry have been focusing on continued growth, in tandem with progress being made in legislature and product development.
The Industrial Hemp Regulations (IHR) address specific topics apropos of the production, processing, control, and export measures within various stages of the industry.
Current IHR require two conformances namely, tetrahydrocannabinol (THC) testing of every field, except cultivars depicting low THC in provided province, and THC sampling & testing in production process concerning food derivatives. These process are expensive and entail the need for significant administrative investments by health regulatory bodies.
Recognizing the concern, the Canadian Hemp Trade Alliance (CHTA) proposed an efficient infield science-based alternative for generating reliable results. The proposal involves elimination of THC testing with respect to food derivatives.
The alterations suggested are expected to aid achieving the objective of reducing THC content in crops with relatively less investment. Such regulatory changes are further expected to facilitate harvest, processing, and sales of non-psychoactive cannabinoids such as CBD from industrial hemp.
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Improving Accessibility to CBD-based Therapies: WHO Report Aids Alleviation of Restrictions on Cannabidiol
Cannabis comprises over 100 chemical compounds known as cannabinoids, with the most common among them being CBD and THC. The WHO’s Expert Committee on Drug Dependence (ECDD) published a report in 2017, which acknowledges clinical employment of CBD to be the most advanced treatment of epilepsy.
CBD is perceived to have significant therapeutic value for seizures on account of epilepsy and relevant conditions. In addition, clinical trials conducted on CBD have depicted its efficacy in treatment of various forms of epilepsy.
The report further acknowledged existence of primary evidence underpinning utilization of CBD in treatment and management of various other diseases that include Alzheimer’s disease, multiple sclerosis, Parkinson’s disease, rheumatoid arthritis, Crohn’s disease and Huntington’s disease.
ECDD’s conclusion states that current state of research with regard to scheduling of CBD is not justified, and it could impact accessibility for medical and scientific research.
ECDD’s impending final recommendations, to be published soon, will reaffirm or reinforce these conclusions, in order to alleviate legitimate basis for Secretary of Department of Health in maintaining present restrictions on CBD. This will not only relieve burden from companies developing medicinal products, but also improve access for consumers to effective and novel therapies.
CBD Market Revenue: Surging Penetration in Health Food Products
Rich in alpha-linoleic, linoleic, and antioxidants, CBD oil illustrates optimal ratio of Omega-6 and Omega-3 fatty acids. Numerous studies underpin the fact that properties of CBD assist management of depression & anxiety, pain, seizures, and insomnia. As researchers continue to analyze this increasingly popular cannabinoid, consumers across the globe are becoming more aware of the therapeutic qualities associated with CBD.
Based on preferences, circumstances, and conditions of an individual, there are various ways in which CBD can be consumed, with some of the valid options being vaping CBD oil, applying CBD ointment topically, and swallowing CBD capsules. Currently, more and more individuals are seeking incorporation of CBD into their lifestyle through infusion into their meals.
CBD-infused food products are gaining high momentum in the market, abreast growing consumer demand for healthy food options.
In response to growing demand, companies are concentrating on production of healthy foods for meeting requirements of consumers seeking healthy replacements for traditional CBD-infused foods.
Some of the common examples of such healthy alternatives include essential oil blends, flavored tinctures, and edibles such as coffee and candy.
An Adaptive Approach to Modern-day Research Needs
Notable Developments in CBD Market
- Pivot Pharmaceuticals Inc., in coordination with SolMic GmbH, its German technology partner, announced the initiation of its development of PGS-N001 in 2017. PGS-N001 is a water-soluble, natural, and pure oral CBD solution, which shows highest bioavailability and is devoid of THC. PGS-N001 will be developed and formulated for treating a wide range of disease indications such as the chemotherapy-induced nausea and vomiting (CINV) – major therapeutic challenge in cancer supportive care area.
- Nightfood Holdings, a startup that manufactures and markets products in nighttime snacking category, entered into a joint venture with Player’s Network Inc. in 2017. This joint venture is dedicated toward the development of CBD-infused line of products such as cannabinoid oil.
- Marijuana Company of America, Inc. (MCOA) has partnered with HoneyB Healthy Living for developing a series of CBD-based products. These products will be launched under the brand name “BeniHemp” and are intended to be distributed through convenience stores. The partnership aims at full-scale launch of their new product series by 2018-end, while coordinating supply chain arrangements via their partners in Colorado.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
The study also shares details on factors impacting pricing strategies of the manufacturers within the global CBD market. Segmentation of the global CBD market provided in the report is briefly delineated in the following segmentation table:
The global CBD market is envisioned to observe an impressive rise over the forecast period of 2019 to 2029, according to the Fact.MR's new study. The study offers vital trends that are currently carving the growth of the global CBD market. This newly published insightful report sheds light on the fundamental dynamics, which are expected to evolve over the future of the global CBD market, in turn creating lucrative avenues for the prominent companies, and also to the petite enterprises, associated with the development of the global CBD market.
The global CBD market study is a detailed market intelligence on pivotal revenue growth determinants, challenges, industry trends, and opportunities, which will eventually influence the growth trajectory for the global CBD market.
The report imparts an overview of the global CBD market, considering the legal status of cannabis and its derivatives, social psyche about cannabis and current and future cannabis derivatives' industry prospects. This study unveils the attractive facets appertaining to the adoption of CBD across key regional markets.
An in-depth assessment of few of the Cannabis cultivators, CBD extractors and derivative product manufacturers are offered in the report to enable the peruser to gain detailed insights that have been derived from the global CBD business performance across the regional markets incorporated in the report.
A list of crucial firms operating in the global CBD market provided in the report adds to the credibility of this exhaustive research study.
Global CBD Market: Report Summary and Scope
The report offers detailed intelligence on the different factors influencing the demand, sales, and revenue generation within the global CBD market around the globe. The opportunity analysis conducted in the report is valuable for the perusers to understand better opportunities in the global CBD industries.
These insights will, in turn, trigger adoption of CBD across different verticals of the market like F&B, cosmetics, and therapeutic sectors. An elaborate value structure analysis provides the report with innate completeness, and study offered on the cost structure involves every regional markets incorporated.
A detailed forecast on the global CBD market has also been offered by the expert analysts, who have categorized the market forecast apropos of a likely scenario, conservative scenario, and an optimistic scenario regarding the adoption and involvement of global CBD market during the forecast period.
Analysis and evaluation of price point by region and different applications of CBD have been included in this study.
Global CBD Market: Analysis of Market Size Evaluation
Analysis of the Global CBD market, containing current, as well as future projected values forecast, price index and analysis on region-wise demand trends have been incorporated in the report. The assessment offered on the factors mentioned above is comprehensive, and dedicated weighted chapters have been delivered on the same.
Market valuation at a global and regional scale for the global CBD market is offered in terms of ‘US$ Mn.' A Y-o-Y growth comparison on the key CBD market segments, along with CBD attractiveness assessment quantifies insights delivered in the report. Metrics mentioned above are also tracked based on CBD consumption across several regions where CBD has witnessed consistent demand.
Global CBD Market: Scrutinized Assessment on Regional Segments
Weighted chapters included in the report on Global CBD market, imparts forecast on the regional markets. These chapters illustrate the regional macros (Legal, economic, and business environment outlook), which are expected to have a significant impact on the growth of the global CBD market during the forecast period.
Country-specific assessment on the trade of CBD has also been provided for each regional market, along with the market size valuation and forecast, price-point assessment, price index and impact analysis of critical regional and country-wise dynamics. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.
Global CBD Market: In-depth Analysis of Competitive Landscape
The report concludes with a pragmatic chapter on the competitive landscape on the global CBD market, which profiles key companies contributing to the market expansion.
Up-to-date and essential data, as well as knowledge, related to the market players, who predominantly engage in the cultivation of cannabis and production and distribution of CBD, has been delivered with the help of a dashboard view. Market share comparison and analysis of these market players offered in the report enables the peruser to devise strategic steps forward for their businesses.
Company profiles have been incorporated in the report, which exerts information around the development of the global CBD market, along with a comprehensive SWOT analysis on each player identified together with the company strategies identification and analysis.
The intensity mapping of the market players operating in the global CBD market provides readers with actionable intelligence, which helps in understanding the current market status and prospects determining competition levels in the global CBD market.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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