The US Cannabidiol (CBD) Market: Size, Trends and Forecast (2019-2023)
The major players dominating the US CBD market are Charlotte's Web Holdings, Inc., CV Sciences, Inc., Reliva CBD Wellness and Elixinol Global Limited (Elixinol USA).
By: Daedal Research
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall CBD market in the US has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Charlotte's Web Holdings, Inc.
CV Sciences, Inc.
Reliva CBD Wellness
Elixinol Global Limited (Elixinol USA)
Cannabidiol (CBD) is a non-psychoactive compound found in both hemp and marijuana, which are two different varieties of the cannabis plant. CBD results from the heating or decarboxylation of cannabidiolic acid and does not provide a high. CBD possesses numerous therapeutic benefits, including anti-inflammatory, analgesic, anti-anxiety and seizure-suppressant properties.
CBD helps in the proper functioning of the endocannabinoid system in case of a disease. It helps in modulating the system and enhancing the endocannabinoid tone, which slows down or stops the disease progression. CBD is available in various forms, including flowers, isolate, concentrates and infusions.
Cannabidiol (CBD) has been segmented into hemp-derived, marijuana-derived and pharmaceutical. Hemp-derived CBD has been further segmented on the basis of product and distribution channel. Based on product, hemp-derived CBD has been segregated into tinctures, topicals, capsules, vape oil/ cartridges, gummies, other edibles, pre-roll/ flower and syrups and dabs. On the basis of distribution channel, hemp-derived CBD has been divided into natural food stores, online, smoke shops, dispensaries, medical companies and others.
The US Cannabidiol (CBD) market is expected to rise significantly during the period 2019-2023. The market is expected to be driven by various growth enhancing factors such as aging population, growing use of CBD among millennials, increasing prevalence of arthritis, removal of hemp from Controlled Substance Act, etc. However, the market is not free from challenges that are hindering its growth.
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