CBD Nutraceuticals Market, By Product Type (CBD Tinctures, Capsules & Soft gels, CBD Gummies, Others), By Sales Channel (Retail Stores, Online, Pharmacies), By Region – Global Analysis Forecast Till 2030

The Global CBD nutraceuticals market accounted for US$ 6.32 billion in 2018 and is estimated to be US$ 36.12 billion by 2030 and is anticipated to register a CAGR of 22.34%

Phytocannabinoid cannabidiol (CBD) was first identified in 1940. Along with tetrahydrocannabinol (THC), it is one of 113 cannabinoids found in cannabis plants and makes up to 40% of the extract. Cannabinoids got their name because they were formerly thought only to be present in the cannabis plant, but it was later established that they are present in many other plants, including the human body.

In addition to providing the body with critical nutrients and aiding in the prevention or treatment of disease, nutraceuticals are superfoods or fortified meals. Among the chemical substances known as cannabinoids is cannabidiol (CBD), a component. In the medical field, it is a crucial component of marijuana. Known clinically as a therapy for several disorders, CBD is a combination of several chemical elements. Along with additional benefits including pain reduction, enhancing cognitive function, anti-inflammatory characteristics, and having few side effects, CBD is also thought to be useful against various health issues and conditions like cancer, anxiety, and depression.                                       

Market Dynamics:

Drivers:

One of the main factors propelling the CBD nutraceuticals market is the increase in consumer preference for various plant-based supplements. Other important market growth drivers include the improvement in the standard of living, the legalization of different CBD (cannabidiol) products, and the rise in demand for various hemp proteins among bodybuilders, athletes, and the vegan population. Additionally, the growth in demand from developing nations will open up new prospects for the CBD nutraceuticals market throughout the course of the projected period.

Restraints:

However, the growth in the availability of different substitutes, including as raspberry ketones, echinacea, garcinia, and Cambogia as well as turmeric, is the main reason among others acting as a restraint and will further challenge the CBD nutraceuticals market throughout the projection period.

The strict regulations regarding the use of CBD-based products and the availability of alternative plant-based nutraceuticals like Echinacea, garcinia cambogia, turmeric, and raspberry ketones have been preventing the market for CBD nutraceuticals from expanding. Some countries also forbid the use of CBD.

Key players:

• Charlotte's Web,

• Elixinol,

• Medical Marijuana, Inc.,

• CV Sciences, Inc.,

• Irwin Naturals,

• and Diamond CBD.

• Charlotte's Web Holdings, Inc.

• And Others

 
Market Segmentation:

CBD Nutraceuticals Market, By Product type

• CBD Tinctures,

• Capsules & Softgels,

• CBD Gummies,

• and Others

CBD Nutraceuticals Market, By Sales channel

• Retail Stores,

• Online,

• and Pharmacies

CBD Nutraceuticals Market, By Geography

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Malaysia

  • Philippines

• Latin America

  • Brazil

  • Rest of Latin America

• Middle East & Africa (MEA)

  • GCC

  • North Africa

  • South Africa

  • Rest of the Middle East & Africa

 Regional Analysis:

With a XX% market share in 2018, North America dominated the industry. The adoption of the 2018 Farm Bill, which allowed hemp growing and the processing of hemp-derived goods, the rise in the number of health-conscious consumers, and the presence of significant businesses in the area are the main drivers of market expansion.

On the other hand, Asia Pacific is predicted to experience the quickest CAGR throughout the projected period due to the region's countries' increasing legalization of marijuana and their positive policies regarding its use. Thailand expects to increase the use of CBD as dietary supplements after removing hemp seeds and hemp oil from the list of prohibited substances in September 2019. It is anticipated that the entry of numerous CBD nutraceuticals companies into the Asia Pacific industry will spur regional expansion. Growing public knowledge of the benefits of CBD nutraceuticals for health and wellness is another factor anticipated to fuel expansion.

Scope of the Report:

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