Cannabis

Cannabis is a genus of flowering plant in the family Cannabaceae. The number of species within the genus is disputed. Three species may be recognized: Cannabis sativa, Cannabis indica, and Cannabis ruderalis Medical cannabis (or medical marijuana) refers to the use of cannabis and its constituent cannabinoids, to treat disease or improve symptoms. Cannabis is used to reduce nausea and vomiting during chemotherapy, to improve appetite in people with HIV/AIDS, and to treat chronic pain and muscle spasms. 

Cannabidiol (CBD) is a metabolite of Cannabis sativa. It has relaxing, anticonvulsant, antidistonic, antioxidant, anti-inflammatory effects, promotes sleep and is relaxing against anxiety and panic. It has also been shown to reduce intraocular pressure and is a promising atypical antipsychotic.

CBD Market: Growth

The global CBD market was valued at USD 3,088.51 million in 2018, and the market is estimated to grow at USD 2,207,162.54 Million by 2026 and is expected to register a CAGR of 125.58% during the forecast period from 2019 to 2026. In 2018, the Americas accounted for the largest CBD market share of 78.14% with a value of USD 2,413.34 million, followed by Europe with a market value of USD 358.19 million in 2018.

Based on form, the liquid segment accounted for the largest CBD market share of 51.86% in 2018, with a market value of USD 1,601.62 million and is projected to register a CAGR of 127.24% during the forecast period. On the basis of routes of administration, the tincture segment accounted for the largest market share of 36.65% in 2018, with a market value of USD 1,132.07 million, and is projected to register a CAGR of 126.54% during the forecast period.

Cannabis Market: Growth

Last year, sales of legal cannabis grew 24% to $5.7 billion, with 78% of that coming from medical marijuana, according to a report by ArcView Market Research and New Frontier Data. Sales are projected to grow to $7.1 billion this year and to $22 billion by 2020, when medical pot will make up less than half the total. “Legalization of cannabis is one of greatest business opportunities of our time, and it’s still early enough to see huge growth,” said ArcView CEO Troy Dayton.

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