cbd market value 2021

Access sample pages of the report, “Asia Pacific Cannabidiol (CBD) Market Forecasts 2027” in detail along with the table of contents (ToC) @

There are two primary distribution channels established to sell CBD in North America: online and offline channels. The offline distribution channels are further divided into pharmacies and retail stores. The offline distribution channel in the region is set to gain momentum through 2027 and will expand at 32.6% CAGR during this time.

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Prominent CBD manufacturers across the globe include Canopy Growth Corporation, Cronos Group, Medterra Tilray, CBD One Ltd, Formula Swiss AG, Green Brothers Switzerland SA, HemPoland sp. z o.o. MH medical hemp GmbH, ECOFIBRE, Bod Australia Ltd, MEDLAB CLINICAL, Aurora Cannabis, and CV Sciences, Inc.

June 02, 2021 06:00 ET | Source: Graphical Research Graphical Research

The regulatory bodies of these countries have inspected the benefits of CBD-derived products on human body and have given their approval in this regard. For example, Australian authorities approved the use of a CBD-based product, Sativex in 2017 to treat spasticity caused by multiple sclerosis. This drug has won the approval of more than 28 countries, which is an indication of positive changes in the regulatory framework of these nations. All these factors will positively impact the demand for CBD in Asia Pacific.

The global cannabidiol market size is anticipated to expand at substantial CAGR during the forecast period as CBD is quite famous for treating large number of ailments like anxiety, chronic and neurological pains, sleep disorders, stress, and nausea.

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Cannabidiol oil will witness hike in demand in North America:

It is expected that U.S. consumer sales of cannabidiol (CBD) will reach around 1.8 billion U.S. dollars by 2022, which would represent a significant increase from around half a billion U.S. dollars in 2018. Following a similar trajectory, sales of legal cannabis in the U.S. are projected to hit 23 billion U.S. dollars in 2025.

Cannabidiol is a naturally occurring substance found in cannabis. However, CBD does not cause any of the psychoactive effects that come from another active ingredient found in the plant: tetrahydrocannabinol (THC). The health benefits of the plant extract continue to be examined, and the World Health Organization states that CBD exhibits no effects indicative of any abuse or dependence potential. The CBD retail industry is already flourishing, with a wide range of products marketed as treatments for chronic pain, anxiety, and depression.

What are the benefits of CBD?