AP NEWS
ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Cannabidiol Market (2021 to 2026) - by Source, Distribution Channel, Product, Route of Administration, End-user and Geography - ResearchAndMarkets.com

June 24, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Jun 24, 2021--

The “Global Cannabidiol Market (2021-2026) by Source, Distribution Channel, Product, Route of Administration, End-user, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.

The global cannabidiol market is estimated to be USD 2.73 Bn in 2021 and is expected to reach USD 6.37 Bn by 2026, growing at a CAGR of 18.5%.

The antibiotic and analgesic effects & properties present in Cannabidiol, which can be used to treat a variety of ailments such as anxiety, nausea, stress, chronic pain, neurological conditions, and seizures, are likely to contribute to the growth of the market. Growing medical applications of CBD, growing R&D in medical cannabis, and increasing product adoption and utilization due to government approvals bolstered the market growth for Cannabidiol. Changing regulatory landscape and legalization for approval of CBD-based products globally is also expected to propel the market growth.

ADVERTISEMENT

However, the factor such as the high cost of CBD and barriers in its marketing hinders the market growth. Also, the lack of consumer awareness is impeding market growth. The absence of legalization programs in several Asian and African countries is also impeding the growth of the CBD market.

Market Segmentation

The Global Cannabidiol Market is segmented further based on Source, Distribution Channel, Product, Route of Administration, End-User, and Geography.

By Source, the market is classified as Hemp and Marijuana. The Marijuana-derived CBD segment is estimated to hold the highest market share.

By Distribution Channel, the market is segmented as Business to Consumer (B2C) and Business to Business (B2B). The B2C segment is further divided into hospital pharmacies, retail pharmacies, and online stores. B2C segment, and particularly Hospital Pharmacies, is estimated to hold the highest market share during the forecast period.

By Product, the market is classified as Food Grade and Therapeutic Grade. The Therapeutic Grade segment holds the highest market share.

By Route of Administration, the market is classified as Inhalation (Smoke or Vapor), Aerosol Spray, Capsules, Tincture Spray, And Others. Among all, the Capsules segment holds the highest market share.

By End-user, the market is classified as Medical, Pharmaceutical, Wellness, and Others. The Medical segment holds the highest market share.

ADVERTISEMENT

By Geography, North America accounted for the dominant share of the market and is expected to retain its leading position.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Cannabidiol Market.
  • The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.
  • The report also contains the competitive analysis using Competitive Quadrant, the analyst’s proprietary competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

Market Dynamics

Drivers

  • Increasing Approvals for Medicinal Cannabis Products for Various Medical Applications such as Pain Management, Appetite Enhancement, and Reducing Eye Pressure
  • Growing Research & Development in Medical Cannabis
  • Growing Legalization of Cannabis-Based Products
  • Rise in the Number of Retailers Selling CBD-Based Products
  • Increasing Preference towards Cannabis Extracts such as Oils and Tinctures

Restraints

  • Stringent Government Regulations for the use of CBD-based Products
  • The High Cost of CBD
  • Barriers in Terms of Marketing of CBD-Based Products
  • Lack of Consumer Awareness

Opportunities

  • Infusing CBD in Various Food and Non-Food Applications

Challenges

  • Lack of Standardizations Regarding The Quality of Products
  • Side Effects Associated with CBD
  • Duplicate & Synthetic Products Available in The Market

Companies Mentioned

  • Canopy Growth Corporation
  • Isodiol
  • Medical Marijuana Inc
  • CV Sciences
  • Aurora Cannabis
  • NuLeaf Naturals
  • Maricann, Inc. (Wayland Group Corporation)
  • Tilray
  • GW Pharmaceuticals, plc
  • ABcann Medicinals, Inc. (VIVO Cannabis)
  • Organigram Holding, Inc.
  • Tikun Olam
  • The Cronos Group
  • Cannoid, LLC
  • Folium Biosciences
  • Kazmira
  • IrieCBD
  • Cura Cannabis Solutions
  • CBD American Shaman
  • General Cannabis Corp.
  • Insys Therapeutics, Inc
  • Endoca
  • Phyto Animal Health

For more information about this report visit https://www.researchandmarkets.com/r/hz5u0w

View source version on businesswire.com:https://www.businesswire.com/news/home/20210624005839/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.comFor E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: ALTERNATIVE MEDICINE HEALTH RETAIL TOBACCO PHARMACEUTICAL

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 06/24/2021 12:16 PM/DISC: 06/24/2021 12:17 PM

http://www.businesswire.com/news/home/20210624005839/en