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.
Companies can find new channels and messaging advice to boost connections by utilizing reports like the CBD market study. Decisions about the company’s marketing strategy are based in part on the findings of this market research analysis report. Industry research is a dynamic process that changes daily as new knowledge and trends emerge. Answering important market research inquiries can be made possible by having access to the most recent studies, like CBD, on regional and global marketing trends, sales, and products. The comprehensive CBD market report aids in enhancing the company’s research and marketing strategy and expands commercial chances.
The CBD report offers a better understanding of the market, which aids in the development of products and marketing initiatives to more precisely target the target market. A market research report can decrease risk and save time and money. This business report will be highly beneficial for increasing the company’s industry expertise, developing new advertising and marketing strategies, and identifying the demographics that need to be targeted. In order to ensure that businesses are effectively receiving the crucial information required, the CBD market report has the best research offerings and the necessary expertise. This is true regardless of whether businesses are looking for new product trends or competitive analysis of an existing or emerging market.
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