According to a market research study published by Polaris Market Research, the demand analysis of Global CBD Nutraceuticals Market size & share revenue was valued at around USD 5.16 Billion in 2020 and is expected to reach USD 19.25 Billion by 2028, and grow at a CAGR of around 18.2% during the forecast period 2021- 2028.
CBD from herbs has been used in diverse forms for its acclaimed medicinal benefits. Nowadays, the compound is being used in the span of sound products. CBD or cannabidiol is a compound present in the hemp plant. It is accountable for the plant's therapeutic properties. CBD is also ascribed to be impactful against several health issues and ailments like anxiety, cancer, and depression. It also provides benefits in relieving the pain, enhancing cognitive potential, and properties that are anti-inflammatory. Its comprehensive implementation against many diseases and enormous health benefits has allured the nutraceutical industry to amalgamate the elements in their overall product portfolio. There has been a considerable growth in superfoods or edible containing CBD.
Traditional drugs can assist in relieving pain and stiffness, but people opt for CBD as a more organic option. There is growing proof that nonpsychoactive compounds in marijuana like CBD could offer a new cure for chronic pain. CBD lessens inflammation by prohibiting the release of compounds that activate inflammation in the body.
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· The report offers top market players their sales volume, business strategy, and revenue analysis
Key Offerings
· Market size and forecast by revenue (2021—2028)
· Market dynamics – Prime trends, restraints, growth drivers, and opportunities of investment
· Market segmentation – A detailed analysis by source, product, distribution channel, and region
· Competitive landscape – vendors that are crucial and topmost
Top Market Players
· Foria Wellness
· CV Sciences Inc.
· Green Roads
· Charlotte's Web
· Isodiol
· Garden of Life LLC
· Diamond CBD
· MGC Pharma
· Elixinol
· Medterra CBD
· Endoca BV
· Medical Marijuana Inc.
· Aphria Inc.
· Irwin Naturals
Important Questions Being Answered by The Market Report
· What is the market size and growth?
· What are the main factors fuelling the global CBD nutraceuticals market?
· What will be the value of the global CBD nutraceuticals market during 2021-2028?
· Which region will make significant contributions towards global CBD nutraceuticals market revenue?
· Which are the key players capitalizing on the market?
· What are the current trends that will impact the market shortly?
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CBD Nutraceuticals Market: Growth Leading Factors
Growth in the consumer preference for several plant-based supplements is an essential factor in pushing the market growth. The increasing awareness about medical benefits of cannabidiol and its reformative properties, growth in the living standard and legitimization of various CBD products, and growth in demand for several hemp proteins amidst vegans, bodybuilders, and athletes are prominent factors amongst others fuelling the CBD nutraceuticals market.
Preferable properties, including relieving pain owing to disturbing brain injuries, several neurological conditions, and autoimmune situations involving inflammatory bowel disease, arthritis, and fibromyalgia attained through CBD nutraceuticals, will propel the market.
As a humanitarian and economic crisis, the covid-19 pandemic has emerged, creating strain on society and impacting millions of businesses and people. Industry shutdown and making people stay at home has affected economic growth adversely. There has been a shift towards manufacturing PPE kits and another corona virus-related equipment, which has created a diversion, and financing the R&D activities has lessened to encounter subsequent negligence.
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CBD Nutraceuticals Market: Key Segmentation
· Insight by product, distribution channel, and region
By product, oils are anticipated to turn around the largest share. Components of marijuana, including CBD, is accountable for the effects of pain-relieving. Some reactions are fatigue, drowsiness, reduced appetite, and dry mouth. The offline sale was responsible for the prominent market share based on the distribution channel. Growing penetration of retail stores, rapid urbanization, and increasing awareness towards health propel the overall growth of distribution channels.
By region, North America is anticipated as a region with a significant market share. Legitimization of marijuana and growing awareness of health benefits in the area are responsible for its massive growth with substantial market share. The other increasing population of health-conscious consumers with massive financing for R&D activities and burgeoning healthcare infrastructure are propelling the market growth. Several CBD nutraceuticals companies are arranging to enter the Asia Pacific market, which is anticipated to fuel market growth.
Browse the full “CBD Nutraceuticals Market Share, Size, Trends, Industry Analysis Report, By Product (CBD Capsules, CBD Tinctures, Others); By Distribution Channel (Offline, Online); By Region; Segment Forecast, 2021 - 2028” Report at https://www.polarismarketresearch.com/industry-analysis/cbd-nutraceuticals-market
The market primarily depends on the product, distribution channel, and region
CBD Nutraceuticals Market: By Product
- CBD Capsules
- CBD Tinctures
- Others
CBD Nutraceuticals Market: By Distribution Channel
- Offline
- Online
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