Sat. Jul 20th, 2024

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

Competitive Landscape

In the following decade, manufacturers in the Cannabidiol industry will focus on strategic acquisitions, collaborations, and new launches.

  1. 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.
  2. 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

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