Global CBD Nutraceuticals Market Report 2021-2028: Growing Shift Towards Health and Wellness Products has Significantly Increased the Demand
DUBLIN, April 28, 2021 /PRNewswire/ -- The "CBD Nutraceuticals Market Share, Size, Trends, Industry Analysis Report, By Product; By Distribution Channel; By Region; Segment Forecast, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global CBD nutraceuticals market size is expected to reach USD 19.25 billion by 2028
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.
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.
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.
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 Topics Covered:
1. Chapter 1. Introduction
2. Chapter 2. Executive Summary
3. Chapter 3. Research Methodology
4. Chapter 4. CBD Nutraceuticals Market Insights
4.1. CBD Nutraceuticals - Industry snapshot
4.2. CBD Nutraceuticals Market Dynamics
4.3. Porter's Five Forces Analysis
4.4. CBD Nutraceuticals Market PESTLE Analysis
4.5. Value Chain Analysis
4.6. Competitive Ranking Analysis, 2020
5. Chapter 5. CBD Nutraceuticals Market Assessment by Product
5.1. Introduction
5.2. CBD Capsules
5.3. CBD Tinctures
5.4. Others
6. Chapter 6. CBD Nutraceuticals Market Assessment by Distribution Channel
6.1. Introduction
6.2. Offline Sales Channel
6.3. Online Sales Channel
7. Chapter 7. CBD Nutraceuticals Market Assessment by Geography
7.1. Introduction
8. Chapter 8. Competitive Landscape
8.1. Expansion and Product Launch Analysis
8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Chapter 9. Company Profiles
- 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.
- Irwin Naturals.
For more information about this report visit https://www.researchandmarkets.com/r/ujglra
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article