A new study by Fact.MR reveals that the global CBD market is likely to grow by over 40% in 2019 from 2018. The global CBD market is anticipated to have a positive growth in the forecast period owing to the growing awareness about therapeutic benefits of CBD, decrease in the social stigma against the cannabis and countries taking initiation towards legalization of some of the varieties of cannabis derivatives like CBD.
In the last 30 years, around 50 countries have legalized some form of cannabis by virtue of its potency against various illnesses like Crohn's disease, epilepsy, glaucoma, and nausea. The increase in the geriatric population across the globe has bolstered the requirement of medical cannabis for pain-relieving purposes. All of this has rapidly changed the consumer mind-set regarding cannabis and its derivatives. The consumer now regards cannabis as a therapeutic instead of a psychotropic ingredient. These changes have led to many companies getting attracted to growing cannabis and selling for both medical and recreational purposes. The companies are adopting CBD into various end-user products like Vapes, edibles, and beverages. CBD used in non-conventional products had a market share of around 45% in 2018, says the report.
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