Based on source, the market is divided into hemp and marijuana. The hemp segment is expected to grow rapidly during the forecast period. The demand for hemp plants and seeds for medicinal purposes is rising, which can strengthen market growth. The marijuana segment is expected to account for a significant market share due to the rising demand for treating muscle pain, nausea, and cancer. The legalization of marijuana for personal medical use is also likely to have a positive impact on the CBD market.
Based on end-use, the market is segmented into medical, personal use and cosmetics, pharmaceuticals, and food and beverage. The medical segment is further classified into chronic pain, mental disorder, cancer, and others. The medical segment is estimated to grow rapidly during the forecast period due to the ability of CBD to fight certain diseases. The rising clinical trials, and collaborations between companies, research institutes, and pharmaceutical companies are estimated to enhance the CBD products network and support market growth.
Government regulations also support CBD market growth. For instance, the U.S. Food and Drug Administration (FDA) has approved some of the purified forms of CBD products and concluded the benefits of CBD drug to be safe and effective. The growing clinical trials, research & development investments, and legalization of CBD in other parts of the globe can open new opportunities and further assist the cannabidiol (CBD) market growth.
North American region is projected to dominate the market during the forecast period. The presence of various prominent players, rising number of start-ups, and growing clinical trials are expected to contribute to the regional market growth.
Global Cannabidiol (CBD) Market, by End-Use
Global Cannabidiol (CBD) Market, by Distribution Channel
Global Cannabidiol (CBD) Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The North American region is projected to dominate the market during the forecast period. The presence of various prominent players, rising number of start-ups, and growing clinical trials are expected to contribute to the regional market growth. Moreover, legalization of marijuana and hemp, and liberalization of government regulations in the region can boost the CBD market growth during the predicted period.
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Top U.S. hemp-derived CBD brands 2017 and 2019
Dollar sales of CBD in the United States in 2019, by state
Incl. source references
Global market share of hemp-derived CBD in 2018, by country
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