7-Nov-2019: The global cannabidiol
market size is expected to reach USD 9.69 billion by
2025, as per a new report by Grand View Research Inc. It is projected to
register a CAGR of 32.6% during the forecast period. CO2 is the most majorly
used extraction technique to safely and purely extract the cannabidiol (CBD).
There is a rise in demand for high CBD hemp biomass, which is expected to
propel growth of the CBD market.
Equipment and
processing practices differ significantly depending upon cultivation, variety
of hemp, available equipment, and standard processes according to regions.
Manufacturers are heavily investing in time and resources to maintain
consistency in the quality of products. This also includes the development of
reliable supply chain.
Manufacturers are
focused on R&D activities to develop various strains of cannabis which are
CBD rich. Apart from conventional manufacturing of CBD and its products,
development of synthetic CBD has been recently introduced. Involvement of
biotechnology for production of synthetic CBD has resulted in potential growth
of low-cost mass production. However, the product development is still in
nascent phase.
There are multiple
regulations in place in different countries regarding usage of CBD. In Italy,
CBD oil with 5%, 10%, and 50% is permitted to be sold in Italian markets and
those categorized under the food aromatic preparation are allowed to be
purchased without a prescription. Hash oil that needs prescription can only be
legally purchased and prepared by pharmacists in the Galenic Laboratory of
Pharmac, which is driving the demand for CBD globally.
In
depth research report on Cannabidiol Market
Further key findings from the report suggest:
·
Market participants are focused on investing in the
production and distribution of CBD infused products, in which a French-based
wellness company, TONIC, sells a wide range of hemp-derived CBD infused orals
and topicals
·
Despite the high demand and increasing availability of
cannabidiol, there are several uncertainties pertaining to its safety, quality,
and legality, restraining the market growth
·
Growing marijuana has been legalized in most of the European
countries, thereby providing opportunities to start-ups dealing with
marijuana-based products to explore the CBD market
·
Few prominent states in U.S. such as New Jersey, Delaware,
Oklahoma, New Hampshire, Florida, Connecticut, and New Mexico have legalized
the use of cannabis only for medical purposes and not for recreational purposes
·
In March 2019, Phyto Animal Health and HempMeds, subsidiaries
of Medical Marijuana, Inc., collaborated with Mr. Checkout to increase their
distribution capacity and expand their market presence worldwide
Grand View Research
has segmented the CBD market on the basis of product, application, and region:
Cannabidiol (CBD) Source Outlook (Revenue, USD Million, 2014
- 2025)
·
Hemp
·
Marijuana
Cannabidiol (CBD) Application Outlook (Revenue, USD Million,
2014 - 2025)
·
Personal Care & Cosmetics
·
Pharmaceutical
·
Food & Beverages
·
Others
Cannabidiol (CBD) Distribution Channel Outlook (Revenue, USD
Million, 2014 - 2025)
·
Hospital Pharmacies
·
Retail Pharmacies
·
Online Stores
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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