Cannabidiol Market Overview
Cannabidiol Market size is estimated to reach $93.4 billion by 2027, growing at a CAGR of 21.3% during the forecast period 2022-2027. Cannabidiol can be delineated as an active compound or phytocannabinoid derived from the flower and leaves of the cannabis Sativa plant. The cultivations of marijuana plants occur across the globe for medicinal purposes. Cannabidiol holds wide-ranging applications in the food and beverage industry, nutraceutical production, and treatment of several medical conditions such as neurogenerative disorder, diabetes, insomnia, stress, bone abnormalities, and many others. In addition to that, cannabidiol can help drug addicts to lower their cravings. As compared to hemp seeds oil which is fabricated from seeds only, CBD is a safer and more appropriate option. Also, Cannabidiol comes in a diversity of forms which include capsules, liquid, aerosol sprays. The cannabidiol market outlook is fairly fascinating as the demand for the product is enlarging year after year. Likewise, proliferating research and developmental activities, expanding drug distribution channel’s network, augmenting attentiveness among people regarding health benefits of cannabidiol, and heightening incidences of cancer, diabetes, neurological complications, stress, and bone abnormalities are factors set to drive the growth of the Cannabidiol Market for the period 2022-2027.
Report Coverage
The report: “Cannabidiol Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Cannabidiol Market.
Key Takeaways
- Geographically, the North America Cannabidiol Market accounted for the highest revenue share in 2021. The growth is owing to high health cognizance among residents compared to other parts of the world, lenient government policies regarding cannabis production for medical purposes, and the full-fledged pharmaceutical industry. Furthermore, Asia-Pacific is poised to dominate the market over the period 2022-2027.
- Augmenting chronic applications and growing adoption of cannabidiol as health awareness among people is ascending and these factors said to be preeminent drivers driving the growth of the Cannabidiol Market. Crippled production and processing activities owing to pandemic restrictions and the exorbitant cost of cannabidiol are said to reduce the market growth.
- Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Cannabidiol Market report.
