The global CBD market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each CBD market player in a comprehensive way. Further, the CBD market report emphasizes the adoption pattern of the CBD market across various industries.
The CBD market report highlights the following players:
- Canopy Growth
- Aurora
- Tilray
- Aphria
- The Cronos Group
- Hexo Corp
- WestLeaf
- Valens GroWorks
- Indiva
- OrganiGram
The CBD market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
A new study by Fact.MR reveals that the global CBD market is likely to grow by over 40% in 2019 from 2018. The global CBD market is anticipated to have a positive growth in the forecast period owing to the growing awareness about therapeutic benefits of CBD, decrease in the social stigma against the cannabis and countries taking initiation towards legalization of some of the varieties of cannabis derivatives like CBD.
In the last 30 years, around 50 countries have legalized some form of cannabis by virtue of its potency against various illnesses like Crohn’s disease, epilepsy, glaucoma, and nausea. The increase in the geriatric population across the globe has bolstered the requirement of medical cannabis for pain-relieving purposes. All of this has rapidly changed the consumer mind-set regarding cannabis and its derivatives. The consumer now regards cannabis as a therapeutic instead of a psychotropic ingredient. These changes have led to many companies getting attracted to growing cannabis and selling for both medical and recreational purposes. The companies are adopting CBD into various end-user products like Vapes, edibles, and beverages. CBD used in non-conventional products had a market share of around 45% in 2018, says the report.
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Global CBD Market Establishing Inroads and Ingenious Offerings Within the Pharmaceutical Industry
According to the report, more than 50% of the U.S. population is living in states where some form of cannabis is statutory. Countries like Canada and Uruguay have incorporated cannabis. Many countries across the globe are steadily accepting medical cannabis, making CBD a new buzzing market phenomenon. Consumers are spoilt for choice with companies providing CBD in various forms like tinctures and edibles. The significant business of cannabis is currently based in North America, which accounts for 2/3rd of the global cannabis market. Europe is showcasing a great premise for the market with sales doubling over the year 2018.
The major companies in the fray are taking intelligent decisions to capture the maximum share of the market. Companies have signed partnerships and agreements with celebrities like Snoop Dogg, Seth Rogan, and Evan Goldberg to promote their products. Various cannabis companies partnered with brands like Constellation and Canada’s Greatest Kitchen to innovate cannabis-infused products like alcoholic beverages and chocolates. The larger companies in the market have aggressively acquired petite companies to increase their production capacity. Some of the companies have a business in over 20 countries displaying the potential of Global CBD Market.
The CBD market report offers a plethora of insights which include:
- Changing consumption pattern among individuals globally.
- Historical and future progress of the global CBD market.
- Region-wise and country-wise segmentation of the CBD market to understand the revenue, and growth lookout in these areas.
- Accurate Year-on-Year growth of the global CBD market.
- Important trends, including proprietary technologies, ecological conservation, and globalization affecting the global CBD market.
The CBD market report answers important questions which include:
- Which regulatory authorities have granted approval to the application of CBD market in food and beverages industry?
- How will the global CBD market grow over the forecast period?
- Which end use industry is set to become the leading consumer of CBD market by 2029?
- What manufacturing techniques are involved in the production of the CBD market?
- Which regions are the CBD market players targeting to channelize their production portfolio?
Fact.MR’s study also opines that leading companies like Canopy growth and Hexo have introduced pharmaceutical care services for their customers. In this service, they collect the medical record of the customers and provide them with advice from appointed medical professionals. This advice helps the customer to maintain good health, and the company gains from converted sales and customer loyalty.
Companies are spending a significant amount on these services to leverage the data into actionable insights for the company. This data provides the company with customer details and consumption patterns, which is employed in modifying the company’s strategies to foray into different verticals of the market.
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