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Global CBD Nutraceuticals Market 2021: By Product Type (CBD Tinctures, Capsules & Softgels, CBD Gummies, Others), By Sales Channel (Retail Stores, Online, Pharmacies)Global CBD Nutraceuticals Market is a report produced by Trusted Business Insights. The global CBD nutraceuticals market research report is segmented on the basis of product type, sales channels, and region. Primary and secondary research efforts were invested to arrive at intelligent conclusions presented in the report on the global target market. Various aspects regarding drivers, growth opportunities, restraints, key players, revenue details and opportunities, current and future market trends are included in the market research report.Request Covid - 19 Impact The Global CBD Nutraceuticals market size was valued at USD $5.58 Billion in 2020, USD $6.61 Billion in 2021, forecasted to reach USD $7.81 Billion in 2022, and is projected to reach USD $30.01 Billion by 2030, and is anticipated to expand at a CAGR of 18.3% over the forecast period from 2020 to 2030.
OverviewCannabinoids (CBD) got the name as they were only found in the plants called cannabis at first. Later, it was discovered that they also exist in other different plants, even in human body. Each of the cannabinoid has unique effects. CBD nutraceuticals are beneficial for people with different ailments and diseases. Moreover, Cannabinoids have very little side effects. Due to many scientific studies done, many beneficial use of CBD have come out. However, currently, it is not a registered medicine for any disease or ailments. Due to this fact, it is not possible to make any medical claims about CBD. It is said, in general, CBD is very supportive for functioning of human immune system.
DynamicsThe major factors driving growth of the global CBD nutraceuticals market are increasing consumer preference for various plant-based supplements. Growing awareness about medical benefits of cannabidiol and its remedial properties, increasing standard of living, and legalization of different CBD (cannabidiol) products. Numerous CBD nutraceutical companies are able to provide a wide variety of functional foods and supplements in myriad forms. Within a short period of time, these products have become very popular among consumers, which is expected to further drive demand for CBD nutraceuticals market in the global market. These products have become very popular among consumers due to companies provide various medical benefits without intoxication. Increasing competition in CBD nutraceuticals space is compelling companies to go for launching new products and widen their geographical reach. In addition, increasing demand for various hemp proteins among bodybuilders, athletes, and vegan population is projected to further increase demand for eh product in the global CBD nutraceuticals market over the forecast period. It is in high demand as it contains around twenty amino acids and it is easily digested. However, the presence of various alternatives, such as raspberry ketones, echinacea, garcinia, and Cambogia and turmeric, are expected to hamper growth of the market over the forecast period. Global CBD Nutraceuticals Market Segment Analysis: By Product Type: Among the product type segments, the CBD tinctures segment accounts for the major part of the revenue share, and this is expected to continue over the forecast period. This is attributed to high bioavailability in relieving severe pain, stress, and anxiety. By Sales Channel: The retail stores segment among the sales channel segments accounts for highest revenue share in the global market and is expected to maintain its dominance over the forecast period. This can be attributed to a wide network of manufacturers with retailers to widen their network. Global CBD Nutraceuticals Market Regional Analysis: The market in North America is projected to maintain its dominance in terms of revenue share, which is attributed to introduction of Farm Bill, which legalized cultivation of hemp and processing various hemp-derived products, increasing presence of key players in the market, and increasing number of health-conscious consumers.
Below are the leading companies profiled in this CBD Nutraceuticals Market Report:
Chapter 1 Methodology and Scope