CBD Market insights offered in a recent report 2019 to 2029 – Expert Recorder
The CBD Market reached ~US$ xx Mn in 2019 and is anticipated grow at a CAGR of xx% over the forecast period 2019 to 2029. The business intelligence study of the CBD Market covers the estimation size of the market both in terms of value (Mn/Bn USD) and volume (x units). In a bid to recognize the growth prospects in the CBD Market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market.
Each market player encompassed in the CBD Market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R&D projects, and business tactics. In addition, the CBD Market study scrutinizes the strengths, weaknesses, opportunities and threats (SWOT) analysis.
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What insights readers can gather from the CBD Market report?
- A critical study of the CBD Market on the basis of segment 1, segment 2, segment 3 and segment 4
- Learn the behavior pattern of every CBD Market player – product launches, expansions, collaborations and acquisitions in the market currently
- Examine and study the progress outlook of the global CBD landscape, which includes, revenue, production & consumption and historical & forecast
- Understand important drivers, restraints, opportunities, and trends (DROT Analysis)
- Important trends, such as carbon footprint, R&D developments, prototype technologies, and globalization
The CBD Market report answers the following queries:
- Which players hold the significant CBD Market share and why?
- What strategies are the CBD Market players forming to gain a competitive edge?
- Why region is expected to lead the global CBD Market?
- What factors are negatively affecting the CBD Market growth?
- What will be the value of the global CBD Market by the end of 2029?
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competition analysis of the CBD market, request free report sample here
CBD Heavyweights Are Deploying Expansion and Acquisition Strategies for Further Growth
To take the global CBD market to newer heights, several CBD majors have considered collaborating with Cannabis icons like Snoop Dogg, as well as to partner with beverage brands like Constellation, to create CBD infused beverages to attract potential customers. Companies like Canopy Growth, Aurora, and Tilray are expanding their cultivation to match the gap between the demand and supply of CBD. The brands have entered different verticals of the market, like vapes, oils, edibles, tinctures, topicals, soft-gels, pre-rolls, etc. to offer the consumer a luxury of choice. The companies are also making agreements with retail stores and pharmacies for the exclusive distribution of their products.
Companies have signed agreements with organizations like ‘Canada’s Smartest Kitchen’ to develop premium chocolates, cakes and confectionary infused with CBD, attracting dessert-loving customers. These CBD-infused products provide the customers with a choice of enjoying their favorite food with the added benefits of cannabis. Cannabis companies are investing a significant amount into research and development of new products to attract potential customers. These products are developed, keeping in mind the young generation, which is curious about the benefits of cannabis and its derivatives. A significant section of the youth has knowledge about the psychoactive effects of cannabis yet is unaware of the therapeutic benefits from CBD.
Patient Care: A Service Adding Value to the CBD Market
Major companies in the CBD market seek to penetrate the medical cannabis market by employing patient care services for their potential customers. Companies like Canopy Growth, Tilray, and Hexo Corp have gained a network of patients by providing them with services like regular check-ups and a steady supply of CBD. This program not only benefits the customers but also the company as it incites customer loyalty. The sale of medical cannabis has never gone below 45% in the past, thus making patient care services an effective channel to endorse the products. Patient care service presents the company with data of usage patterns of customers, providing them actionable insights into the demand across the different verticals of the cannabis-derivatives, thus helping them plan their production activity accordingly.
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