Rising prevalence of diabetes, cancer, chronic pain and rapid demand for healthy food products with THC and CBD are expected to drive global market growth

PUNE, MAHARASHTRA, INDIA, August 2, 2022 /EINPresswire.com/ -- Global Tetrahydrocannabinol (THC) and Cannabidiol (CBD) Market Size is Expected to Reach USD XX Billion in 2028
Growing acceptance and use of Tetrahydrocannabinol (THC) and Cannabidiol (CBD) products for medical purposes, rising incidence of chronic pain, Alzheimer’s, epilepsy, and other neurological diseases, and increasing investments in research and development activities are expected to drive global market growth.

Market Size: USD XX Billion in 2017, Market Growth: at a CAGR of XX%, Market Trends: Rising awareness about health benefits of CBD
The global Tetrahydrocannabinol (THC) and Cannabidiol (CBD) market size is expected to reach USD XX billion in 2028 and register a robust revenue CAGR of XX% during the forecast period. Key factors such as high usage of cannabidiol oil in skincare products to treat wrinkles and acne, rising usage of THC and CBD in pain management and treatment, and increasing sales of THC and CBD products in many retail stores across the globe are driving global market revenue growth.

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Cannabis is a herbal drug that contains various chemicals called cannabinoids, among which delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) are most commonly used for therapeutic reasons. THC is widely used in the treatment of pain, muscle spasticity, insomnia, low appetite, nausea, and glaucoma, while CBD is used for lowering inflammation, seizures, pain, migraine, nausea, anxiety, inflammatory bowel diseases, and psychosis among others. Over recent years, there has been a rapid increase in the demand for healthy food products with high nutrients. Factors such as steady increase in government approvals for these products, high usage of cannabidiol in pharmaceuticals, pet care, food and beverages, and cosmetics and personal care products, and increasing investments in research and development activities are expected to drive global market growth going ahead.

However, factors such as availability of various counterfeit and synthetic products, stringent regulatory norms for product approval in several countries, side effects associated with CBD products, and high cost of THC and CBD products are expected to restrain global market growth to a certain extent during the forecast period. In addition, lack of awareness and accurate information about benefits of these drugs in many developing and underdeveloped countries is expected to limit the adoption of THC and CBD products going ahead.

Cannabidiol (CBD) Segment to Account for Largest Revenue Share:
The cannabidiol segment is expected to account for largest revenue share during the forecast period. Factors such as increasing incidence of neurological disorders and chronic diseases, growing awareness about medical benefits of cannabidiol, and high usage of cannabidiol in pharmaceutical, food and beverages, and cosmetic sectors are expected to drive revenue growth of the segment going ahead.

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Pharmaceutical Industry Segment To Register Robust Revenue CAGR:
The pharmaceutical segment revenue is expected to expand at a robust revenue CAGR over the forecast period. This can be attributed to high demand for THC and CBD products for lowering psychotic events of schizophrenia, reversing hemorrhoids and avoiding menstrual cramps, rising awareness about health benefits of these products, and increasing investments in developing novel, effective medical drugs.

North America to Lead in Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period attributable to favorable government regulations in terms of legalization and product approvals, presence of well-developed healthcare and research infrastructure, and rising incidence of neurological and chronic disorders across the region. In addition, rising public awareness, presence of leading market players, and increasing investments in research and development activities are expected to drive North America market growth during the forecast period.

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Tetrahydrocannabinol (THC) and Cannabidiol Market By Company
• Kazmira
• CW Hemp/CW Botanicals
• Freedom Leaf
• Green Road
• Medical Marijuana
• Folium Biosciences
• HempLife Today
• Cannavest
• Pharmahemp
• ENDOCA
• CBD American Shaman
• NuLeaf Naturals
• Select Oil
• K.I.N.D Concentrates
• Canopy Growth Corporation
• Aphria
• Emblem Cannabis Oils
• Whistler
• The Lab
• Absolute Terps

For the purpose of this report, Xcellent Insights has segmented the global Tetrahydrocannabinol (THC) and Cannabidiol (CBD) market based on type, application, and region:

Tetrahydrocannabinol (THC) and Cannabidiol (CBD) Market Segment by Type:
• Tetrahydrocannabinol (THC)
• Cannabidiol (CBD)

Tetrahydrocannabinol (THC) and Cannabidiol (CBD) Market Segment by Application:
• Pharmaceutical Industry
• Food Industry
• Cosmetics Industry
• Others

Tetrahydrocannabinol (THC) and Cannabidiol (CBD) Market Segment by Region:

• North America
o United States
o Canada

• Europe
o Germany
o France
o UK
o Italy
o Russia
• Asia Pacific
o China
o Japan
o South Korea
o India
o Australia
o Taiwan
o Indonesia
o Thailand
o Malaysia

• Latin America
o Mexico
o Brazil
o Argentina

• Middle East & Africa
o Turkey
o Saudi Arabia
o UAE

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The following market research reports may be of interest:

Global Hemp-derived CBD Oil Market Insights and Forecast to 2028
Global Cannabidiol Oil (CBD) Supplements Market Insights, Forecast to 2028

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