Pune, India, June 02, 2021 (GLOBE NEWSWIRE) –
The global Cannabidiol market size is expected to increase with a substantial CAGR during the forecast period, as CBD is known for treating a large number of ailments such as anxiety, chronic and neurological pain, sleep disorders, stress, and nausea.
Cannabidiol (CBD) offers the user a variety of therapeutic benefits and is also non-toxic. Several governments around the world have now legalized the use of CBD in their countries as it has many uses that can aid in the development of new drugs that will lead to medical advancement.
Some of the trends that will fuel the growth of the global CBD market through 2027 are listed below:
Cannabidiol oil will see a surge in demand in North America:
Cannabidiol Market in North America is expected to exceed $ 61.2 billion by 2027. Depending on the product, this market is divided into oils, tinctures, transdermal patches, suppositories, tablets, capsules, vape oil, isolates, creams, roll-ons and many others. Of these, the CBD oil segment is expected to grow rapidly over the forecast period 2021-2027.
In fact, this segment dominated the market in 2019 and will continue to do so in the future. CBD oil is known to have several benefits for its users, especially pain-related ailments. The number of cases of mental illness in North America is increasing every year. Mental health facilities are increasingly demanding CBD oil as it is known to treat various mental illnesses such as depression and anxiety, thereby positively influencing substance needs.
Access sample pages from the report, “North America Cannabidiol (CBD) Market Forecast 2027“In detail together with the table of contents (ToC) @
Chronic pain patients are the largest users of CBD in the United States:
There are several uses for CBD, including anxiety, chronic stress, depression, skin care, seizures, joint pain, and inflammation, among others. Of these, CBD will find increased use in the chronic pain segment by 2027 and will reach a value of 20.6 billion US dollars in North America by 2027 according to current market trends. CBD has several beneficial properties for chronic pain relief and is a better alternative when compared to its counterpart, the opioids.
CBD has minimal side effects when used and does not contain any toxic elements. This has led to increased demand for CBD-based drugs and products as a better alternative to traditional drugs, and has increased the market size in the United States
CBD Selling Online To Rise In North America:
There are two primary distribution channels that have been established for selling CBD in North America: online and offline channels. The offline sales channels are further subdivided into pharmacies and retail stores. The offline sales channel in the region is expected to gain momentum by 2027 and grow by 32.6% CAGR during that time.
One of the main reasons for this is that offline channels are more reliable compared to their online counterparts. Customers prefer the offline channels to buy their medication as this not only increases their confidence in their purchases, but also allows them to personally inspect the product before making a purchase. Another big reason is that it is much easier for shopkeepers to monitor CBD products, which is not possible with online channels.
Favorable Government Regulations To Promote The Cannabidiol Market In Asia Pacific:
Asia Pacific CBD Market According to market reports, it is expected to reach a value of more than 1.9 billion US dollars by 2027. CBD was not on the list of legal products in several countries in the region. But today that scenario has changed drastically as countries like Japan, Australia, and New Zealand have favorably changed their laws to make the use of CBD-based products legal in their populations.
The regulators in these countries have reviewed and approved the benefits of CBD-derived products for the human body. For example, in 2017 the Australian authorities approved the use of a CBD-based product, Sativex, to treat spasticity caused by multiple sclerosis. This drug has received approval from more than 28 countries, indicating positive changes in the regulatory framework of these nations. All of these factors will have a positive impact on the demand for CBD in the Asia-Pacific region.
Access sample pages from the report, “Cannabidiol (CBD) market forecasts for the Asia-Pacific region 2027“In detail together with the table of contents (ToC) @
CBD tinctures will see increasing demand in the Asia Pacific region:
Of the various CBD-derived products like oils, creams, and tinctures, the CBD tinctures segment is expected to grow in importance, growing by a staggering 36% CAGR by 2027 in APAC. This segment had the second largest regional market share in 2020 with a valuation of more than $ 18.5 million. One of the main reasons for this is that this product has a longer shelf life compared to its alternatives. It has a wide range of uses, as well as treating anxiety, nausea, inflammation and pain.
These tinctures are made with CBD strains from hemp plants and contain 60 to 70% alcohol, which leads to increased demand from end users.
Creams and roll-ons are in increasing demand in Europe:
total CBD market in Europe is projected to exceed $ 25.8 billion by 2027. Oils, tablets, creams and roll-ons, capsules, vape oil and many other products use CBD oil as their main ingredient. Of these, the Creams & Roll-Ons segment will see robust growth during the period mentioned as consumers place increasing importance on using skin care products with CBD.
This ingredient is known to have many benefits for the skin and also helps in improving its quality. A large part of the population in Europe increases their spending on various cosmetic and skin care products every year. While we are talking about the medicinal benefits of CBD, it has been proven to have anti-inflammatory properties that are a must have in all skin care and makeup products. All of this will benefit market companies in Europe.
Access sample pages from the report, “Europe Cannabidiol (CBD) Market Forecast 2027“In detail together with the table of contents (ToC) @
The prevalence of mental disorders will stimulate CBD use in Europe:
Anxiety, chronic stress, depression, migraines, skin care, inflammation, and many other areas use CBD-based products for various purposes. But it is the anxiety and stress segment that will draw the greatest demand for this product in the years to come. This segment captured 22% of the total European market share in 2020 and is expected to continue to grow in the future.
The population in Europe is experiencing a worrying increase in the number of mental disorders such as anxiety & stress, sleep disorders and depression. As a result, more and more healthcare facilities are introducing CBD-based drugs to treat these ailments. According to the World Health Organization (WHO), depression affects almost 4.3% of the regional population. All of these aspects will promote the development of the market.
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