United State-Report Ocean (150+ country’s markets analyzed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the CBD Nutraceuticals. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The CBD Nutraceuticals study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the CBD Nutraceuticals.
The CBD nutraceuticals market size is expected to reach USD 19.85 billion by 2030 according to a new study by Report Ocean.
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The report “CBD Nutraceuticals Market – By Product (CBD Capsules, CBD Tinctures, Others); By Distribution Channel (Offline, Online); By Regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa); Global opportunity analysis and industry forecast 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for CBD nutraceuticals is expected to increase during the forecast period owing to increasing obesity and related disorders, growing health consciousness, and greater awareness regarding benefits associated with cannabidiol nutraceuticals. The legalization of the U.S. Farm Bill in late 2018 leading to the commercialization of hemp-derived products, increasing disposable income of consumers, and growing shift towards health and wellness products has significantly increased the demand for cannabidiol nutraceuticals.
COVID-19 Impact
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the CBD nutraceuticals market also experienced a slowdown. Statista estimates that the CBD nutraceuticals market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the CBD nutraceuticals marketgenerated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the CBD nutraceuticals market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
In March 2018, MGC Pharma expanded its product portfolio through the introduction of cannabis and hemp-enhanced nutraceutical products. The company launched several vegan products including supplements and food-grade products under its new line, MGC Nutraceuticals. Its new offerings include capsules, water-soluble cannabinoids, and ready-to-drink products containing high-grade phytocannabinoids aimed at reducing stress, boosting immunity, and maintaining muscle and bone structure. This product launch enables the company to tap growing opportunities in the dietary supplement and cannabidiol nutraceuticals market.
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On the basis of product, the market is segmented into CBD capsules, CBD tinctures, and others. The tinctures segment accounted for a major share in 2019. Health benefits associated with the tinctures, increasing health consciousness among users, and shifting trend towards diet and nutritious food products boosts the growth of this segment.
Cannabidiol tinctures are increasingly being used for pain relief, insomnia, muscle spasms, nervous system degradation, and anxiety, among others. Governments across the globe are gradually introducing regulations supporting the growth of cannabidiol nutraceuticals.
The different distribution channels covered in the report include offline sales channels and online sales channels. The offline sales channel accounted for a major market share of the global CBD nutraceuticals industry. Rapid urbanization, increasing penetration of retail stores, and growing awareness towards health have driven the overall growth of this distribution channel.
In addition, the rapidly growing health and beauty service industry in the developing economies has fueled the growth of health and beauty stores, supporting the growth of this segment. The growth of the fitness industry further supplements the growth of retail stores proving cannabidiol nutraceuticals and supplements.
North America dominated the global market for CBD Nutraceuticals in 2020 and is expected to maintain its dominance over the forecast period. High living standards, increasing health awareness, and supportive government regulations support market growth in this region. However, Asia-Pacific is expected to exhibit significant growth during the forecast period.
The increasing geriatric population coupled with rising awareness regarding the benefits of CBD nutraceuticals fuels the growth in this region. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
Owing to technological advancements, and the greater need to cater to customer requirements, companies are collaborating to strengthen the market presence and gain market share. Broadening of the product portfolio is another trend that is visible in the industry.
Segmentation:
CBD Nutraceuticals Product Outlook (Revenue, USD Million, 2016 – 2028)
CBD Capsules
CBD Tinctures
Others
CBD Nutraceuticals Distribution Channel Outlook (Revenue, USD Million, 2016 – 2028)
Offline Sales Channel
Online Sales Channel
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CBD Nutraceuticals Regional Outlook (Revenue, USD Million, 2016 – 2028)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Netherlands
Austria
Asia Pacific
China
India
Japan
South Korea
Malaysia
Indonesia
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Saudi Arabia
South Africa
Israel
UAE
Major Players: Some of the major market participants include Foria Wellness, CV Sciences, Inc., Green Roads, Charlotte’s Web, Isodiol, Garden of Life LLC, Diamond CBD, MGC Pharma, Elixinol, Medterra CBD, Endoca BV, Medical Marijuana, Inc., Aphria Inc., and Irwin Naturals.
Key questions answered in the global CBD Nutraceuticals market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the CBD Nutraceuticals market over the forecast period?
- What are the factors driving and restraining the market for CBD Nutraceuticals?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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