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Global Cannabidiol (CBD) Market Expected to Reach USD 938.9 Million by 2027


Global Cannabidiol (

iCrowdNewswire   Jan 12, 2021  10:00 AM ET

27_Cannabidiol (CBD) Market Analysis Share By Manufacturers

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Cannabidiol (CBD) market by product type, source, application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 395.2 Million in 2019 and is expected to grow at a healthy growth rate of around 30.4 % by the year 2027. Rise in the use of CBD can be attributed to cannabis legalization in several countries across the globe. Under specific conditions, medical use of cannabis was legalized in Israel (2001), the Netherlands (2003), Switzerland (2011), Czech Republic (2013), Australia (2016), and Germany (2017). Furthermore, in 2018 the US passed the Farm Bill, which sanctioned the farming of hemp – cannabis with less than 0.3% THC by weight. This, in turn, has enabled many farmers to adopt hemp farming, and the domestic supply of the plant has increased drastically.

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The global Cannabidiol (CBD) market is fragmented based on product type, source, application, and region. In terms of product type, the market is segmented into isolate, full spectrum, and broad spectrum. On the basis of source, the market is divided into hemp and marijuana. On the basis of application, the market is segmented into anxiety, fibromyalgia, diabetes, and others. Based on region, the global Cannabidiol (CBD)   market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, Australia, Japan, South Korea, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of MEA.

The effect of COVID-19 is anticipated to be strongly felt in the consumer durable industry due to high dependency of different global industries for imports. Moreover, the pandemic situation has led to the closure of several non-essential businesses reducing the demand for consumer durables in the world, which in turn, is impeding the packaging industry. Since the COVID-19 pandemic is diminishing the end- user demand for daily packaging products worldwide, the demand for Cannabidiol (CBD) is reducing in the short-term. The COVID-19 effects majorly on manufacturing units which are currently working with 50% workforce. The global supply chain has at the same time slowed down due to restrictions on national borders.

As per GMR industry analyst Rajat Verma & Vidya Jadhav, “The global Cannabidiol (CBD) Market is anticipated to witness significant growth during forecast period 2021-2027 driven by Cost-efficient, rapid urbanization and industrialization, and Rising demand in food and beverages packaging are boosting the market. The Cannabidiol (CBD) market is growing significantly due to the high demand for these films for packaging, preserving, and bundling of products during distribution and warehousing. Increasing global emphasis on the use of sustainable packaging materials and the growth of organized retail sectors are key drivers of the packaging and labels industries.”

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Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 395.2 Million

Market Growth Rate (from 2021 to 2027)

30.4 %

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2021 – 2027

Units Considered

Value (USD Million)

Market Segments

By Product type, By Source, By Applications

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Germany, France, Italy, U.K, Spain, Russia, Rest of Europe, China, Japan, South Korea, India, Australia, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, UAE, Rest of MEA

Key Companies Profiled

Canopy Growth Corporation, Gaia Herbs, IRIE CBD
 Isodiol International Inc, Aurora Cannabis, Cannoid, Inc., CBD American Shaman,CV Sciences, Inc., Elixinol, Endoca., FOLIUM BIOSCIENCES, Medical Marijuana, Inc., NuLeaf Naturals, LLC, PharmaHemp

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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