North America Hemp-derived Cannabidiol (CBD) Markets to 2027 - Increasing Use of CBD-infused Products in Personal Care & Cosmetics, Along with Other Products
DUBLIN, Jan. 21, 2021 /PRNewswire/ -- The "North America Hemp-derived Cannabidiol Market Size, Share & Trends Analysis Report by Product Type (Hemp-derived CBD Isolate, Hemp-derived CBD Distillate, Hemp-derived CBD Terpenes), by End-use, and Segment Forecasts, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The North America hemp-derived cannabidiol market size is expected to reach USD 16.1 billion by 2027. It is expected to expand at a compound annual growth rate (CAGR) of 27.7% over the forecast period
Growing awareness and adoption of cannabidiol (CBD) for various health conditions are the key factors driving the growth of this market. The liberalization of laws related to hemp cultivation by North America countries is further increasing its adoption.
Based on product type, hemp-derived CBD distillate dominated the market with a share of 58.5% in 2019. The large share is attributed to factors such as high consumption of cannabidiol distillate in various applications due to its wellness and therapeutic uses. Also, encouraging government reforms regarding its utilization is increasing the adoption of these products.
Furthermore, the hemp-derived CBD terpenes segment is expected to grow at the fastest CAGR over the forecast period. Rising awareness and additional health benefits provided by terpenes are expected to propel the demand for cannabidiol terpenes over the forecast period.
In 2019, based on end-use, personal care, and cosmetics accounted for the highest revenue share owing to the growing application of hemp-derived cannabidiol in personal care and cosmetic products. On the other hand, the food and beverage segment is expected to grow at the highest CAGR over the forecast period. The legalization of cannabidiol-infused edibles, coupled with increasing awareness regarding the health benefits of CBD, is one of the major factors driving the growth of this segment.
The U.S. dominated the North America market, with a revenue share of 82.4% in 2019. Increasing awareness about cannabidiol benefits, growing consumer preference towards such products, supportive government reforms, and favorable climatic conditions are some of the key factors fueling market growth.
Mexico is expected to exhibit a lucrative CAGR over the forecast period owing to rising awareness regarding CBD based products and their utilization.
North America Hemp-derived CBD Market Report Highlights
- The is anticipated to be valued at USD 16.1 billion by 2027, owing to growing awareness and adoption of cannabidiol for various health conditions.
- The hemp-derived CBD distillate segment dominated the market in 2019, owing to the high product consumption for wellness and medicinal purposes.
- The personal care and cosmetics segment dominated the market in 2019, owing to the growing application of hemp-derived CBD in various personal care and cosmetic products.
- The U.S. dominated the market with a revenue share of 82.4% in 2019, owing to increasing awareness about hemp-derived cannabidiol benefits and growing consumer preference for such products.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 North America Hemp-derived Cannabidiol (CBD) Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Penetration & Growth Prospects Mapping
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 Growing legalization of CBD products
3.3.1.2 Increasing use of CBD-infused products in personal care & cosmetics, along with other products
3.3.2 Market Restraint Analysis
3.3.2.1 High cost of CBD products
3.3.3 Opportunity Analysis (2019-2027)
3.4 North America Hemp-derived Cannabidiol (CBD) Market Analysis Tools
3.4.1 Porter's Analysis
3.4.2 PESTEL Analysis
3.5 Regulatory Scenario, by Country
3.5.1 U.S.
3.5.2 CANADA
3.5.3 MEXICO
3.6 Bulk CBD Pricing Analysis, by Country, 2019 & future trends
3.7 Product Adoption Pattern Analysis, by End Use
3.7.1 Personal Care and Cosmetics
3.7.2 Food and Beverages
3.7.3 Nutraceuticals
3.7.4 Others
Chapter 4 Competitive Analysis
4.1 Company Position Analysis
4.2 List of Companies producing Hemp-derived CBD Products
4.3 List of Companies purchasing Hemp-derived CBD Products
Chapter 5 North America Hemp-derived Cannabidiol (CBD) Market: Product Type Estimates & Trend Analysis
5.1 Segment Dashboard
5.2 North America Hemp-derived Cannabidiol (CBD) Market, By Product Type Analysis
5.3 Hemp-derived CBD Distillate
5.4 Hemp-derived CBD Isolate
5.5 Hemp-derived CBD Terpenes
Chapter 6 North America Hemp-derived Cannabidiol (CBD) Market: End-Use Estimates & Trend Analysis
6.1 Segment Dashboard
6.2 North America Hemp-derived Cannabidiol (CBD) Market, By End-use Analysis
6.3 Personal Care and Cosmetics
6.4 Food & Beverages
6.5 Nutraceuticals
Chapter 7 North America Hemp-derived Cannabidiol (CBD) Market: Regional Estimates & Trend Analysis
7.1 North America Hemp-derived Cannabidiol Market Share, By Region, 2019 & 2027
Chapter 8 Competitive Landscape
- Elixinol
- Endoca
- Hempmeds
- Kazmira
- Cv Sciences, Inc.
- Isodiol
- Cbd Life
- Cbd American Shaman.
- Iriecbd
- Bluebird Botanicals
- True Blue
- Groff North America Hemplex
For more information about this report visit https://www.researchandmarkets.com/r/2bl17h
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