The global cannabidiol (CBD) market will hit US$ 3 Bn by 2021. The market for cannabidiol products further expand to surpass US$ 34 Bn by 2031, expanding more than 11x, thanks to rising demand for full legalization and a ready consumer base.
A growing understanding of CBD’s therapeutic potential has inspired a buyer to purchase cannabidiol products regardless of price. Commercial merchants are now focusing on marketing cannabis-based items since they offer a higher profit margin.
According to Fact.MR- a market research and competitive intelligence provider- the market is predicted to increase nearly 28% CAGR from 2021 to 2031.
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Key findings of the CBD market study:
- The report provides a present market outlook on CBD. Additionally, the CBD market share is anticipated to grow with a CAGR of 28% in the forecast period.
- Regional breakdown of the CBD market based on predefined taxonomy.
- Innovative manufacturing processes implemented by CBD vendors in detail.
- Region-wise and country-wise fragmentation of the CBD market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global CBD market.
- CBD price, market share, and Trends forecast for assessment period 2021-2031
In the following decade, manufacturers in the Cannabidiol industry will focus on strategic acquisitions, collaborations, and new launches.
- Greenheart CBD, an Irish company, became the first CBD manufacturer to launch a decentralized financial token in March 2021. The token will aid the company’s expansion and provide token holders with cost-effective products.
- With a new CBD nutraceutical to be packaged by ALKM and marketed by USMJ, PAOG hopes to tap into an US$ 18 billion market opportunity. PAOG is on pace to introduce a CBD Nutraceuticals range of products that will generate income this year, in 2021.
Key Companies Profiled
- INSYS Therapeutics, Inc.
- Nightfood Holdings
- SolMic GmbH
- Pivot Pharmaceuticals Inc.
- Marijuana Company of America Inc.
- HoneyB Healthy
- Nightfood Holdings