United States $13.39 Billion Cannabidiol (CBD) Market to 2024 - Growth Drivers / Key Trends & Developments / Challenges
Research and Markets
Mon, 26 October 2020, 7:18 am GMT-4·5-min read
Dublin, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The "US Cannabidiol (CBD) Market (by Types, Distribution Channels & Products): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
The U.S. cannabidiol market is estimated to reach US$13.39 billion in 2024, growing at a CAGR of 42.36% for the period spanning 2020-2024.
The growth of the market has been driven by a growing incidence of Alzheimer's disease, upsurge in healthcare expenditure, rising depression rate, increasing geriatric population, mounting online retail sales and expanding urbanization. However, growth of the market would be challenged by the high cost of CBD products and side effects associated with CBD products.
Some of the noteworthy trends of the market include increasing prevalence of arthritis, rising adoption among millennials, the surging occurrence of chronic disorders and upswing in sports injuries.
The U.S. cannabidiol market is categorized on the basis of type, distribution channel and product. According to type, the market can broadly be divided into hemp-derived, marijuana-derived and other pharmaceutical/Epidiolex. On the basis of distribution channels, the U.S. cannabidiol market can be bifurcated into dispensary and retail. Whereas, in terms of product, the market can be split into inhalable, confection, sublingual, wellness, beauty/skin, food & beverage, supplements, pet care and pharmaceutical.
The Hemp-derived segment is the fastest-growing market, owing to the massive growth in the healthcare industry across the region, rising number of research findings and the discovery of new therapeutic applications, increase in awareness regarding the benefits of cannabidiol based products, growing application of cannabidiol in food, pharma, and cosmetics.
https://uk.finance.yahoo.com/news/united-stat...VnFN9LlwZz
Research and Markets
Mon, 26 October 2020, 7:18 am GMT-4·5-min read
Dublin, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The "US Cannabidiol (CBD) Market (by Types, Distribution Channels & Products): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
The U.S. cannabidiol market is estimated to reach US$13.39 billion in 2024, growing at a CAGR of 42.36% for the period spanning 2020-2024.
The growth of the market has been driven by a growing incidence of Alzheimer's disease, upsurge in healthcare expenditure, rising depression rate, increasing geriatric population, mounting online retail sales and expanding urbanization. However, growth of the market would be challenged by the high cost of CBD products and side effects associated with CBD products.
Some of the noteworthy trends of the market include increasing prevalence of arthritis, rising adoption among millennials, the surging occurrence of chronic disorders and upswing in sports injuries.
The U.S. cannabidiol market is categorized on the basis of type, distribution channel and product. According to type, the market can broadly be divided into hemp-derived, marijuana-derived and other pharmaceutical/Epidiolex. On the basis of distribution channels, the U.S. cannabidiol market can be bifurcated into dispensary and retail. Whereas, in terms of product, the market can be split into inhalable, confection, sublingual, wellness, beauty/skin, food & beverage, supplements, pet care and pharmaceutical.
The Hemp-derived segment is the fastest-growing market, owing to the massive growth in the healthcare industry across the region, rising number of research findings and the discovery of new therapeutic applications, increase in awareness regarding the benefits of cannabidiol based products, growing application of cannabidiol in food, pharma, and cosmetics.
https://uk.finance.yahoo.com/news/united-stat...VnFN9LlwZz
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