Global Cannabidiol
Market: Overview
The global cannabidoil market is
anticipated to grow at a promising pace during the forecast period of 2019 to
2027. This mainly because of high demand for cannabidiol from the medical and
pharmaceutical industry. Moreover, there has been a rise in awareness
pertaining to the health benefits of cannabidiol, leading to an increase in
demand. Rising research and development activities and increase in the production
have further supported the market’s expansion.
The extensive use of cannabidiol in
the end-use sector has prompted Transparency Market Research to conduct
exhaustive research on the global cannabidiol market. In its latest offering,
TMR talks about the new developments and opportunities in the market. It
ascertains the drivers, restraints, and challenges in the market and states the
impact of changing consumer demographics on the business strategies deployed by
the key players.
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Global Cannabidiol
Market: Notable Developments and Competitive Analysis
The cannabidiol market is highly
competitive as numerous regional and global manufacturers are vying to develop
new products and increase their production capacities. Players functioning in
the cannabidiol market are adopting strategies such as mergers and acquisitions
and collaborations to gain revenue benefits. Some of the notable developments
in the market are listed below:
In July 2019, the U.S. Food and Drug
Administration announced it is accelerating processes to address the matter
regarding CBD. The efforts of the public and the FDA have made way for the U.S.
Farm Bill and descheduling of cannabidiol by the U.S. Drug Enforcement
Administration. Moreover, the FDA has also approved the use of a CBD-based drug
Epidiolex used to treat epilepsy among children.
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In June 2019, Sky440 announced that
its Horticulture Development Division is in the process of acquiring and
developing numerous new Hemp and CBD products to sale in the public. The
company is currently setting up marketing partnerships with several companies
to sell its new CBD and hemp products that offer numerous health benefits. The
company is anticipated to expand its consumer base through numerous new
acquisitions in order to enhance its new CBD and hemp product line.
Prominent companies
operating in the global cannabidiol market include:
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Global Cannabidiol
Market: Key Drivers and Restraints
Rising acceptance and
decriminilization of cannabis across numerous countries such Colombia,
Australia, Chile, Germany, France, and Spain has highly strengthened the global
cannabidiol market. Countries are extensively using CBD for the treatment of
diseases such as cancer, multiple sclerosis, depression, and chronic pain.
Moreover as the FDA has allowed to commercialize CBD oil, numerous companies
have begun to sell these oils on various e-commerce sites and in retail stores.
CBD oil is also popular is nations where recreational cannabis is legal.
Countries that have legalized the use of cannabis are experiencing a
progression in the economy. As a result, more and more countries are investing
in the cannabis industry.
Global Cannabidiol
Market: Regional Analysis
In terms of geography, North America
is at the helm of the global cannabidiol market. U.S. is the leading
contributor to the market’s growth in this region due to the recent
legalization of the production of hemp-derived CBD. Additionally, legalized
transport of hemp or the products derived from it has also contributed to the market’s
expansion in this region. Mexico also hold a leading share in the market’s
growth in this regions due to high demand for medical marijuana.
