CBD Nutraceuticals Market Will Generate New Growth Opportunities in the next upcoming year
Pune, Maharashtra, India, February 5 2021 (Wiredrelease) Allied Analytics –:Allied Market Research published a new report, titled, “CBD Nutraceuticals Market Global Opportunity Analysis and Industry Forecast, 2020-2027″.
Pertaining to its wide application against variety of diseases and immense health benefits have attracted the nutraceutical industries to integrate this constituent in their current product portfolio. There has been a dramatic rise edibles or super foods containing CBD. For instance, edibles like cliché special brownie, beverages, cookies, candy and even dried meat containing CBD as one of the ingredients.
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Nutraceuticals are super foods or fortified foods which helps with supply of essentials nutrients to the body along with preventing or treating a disease. Cannabidiol (CBD) is a constituent that belongs to a family of chemical compounds called cannabinoids).
• Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
• However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
• Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
CBD Nutraceuticals Market Regional Analysis:
The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
Top impacting factors: Market Scenario Analysis:
Due to recent studies and subsequent research of various CBD substances brought to notice the importance of CBD medical industry. In 2017, the National Institute of Health backed around 330 projects with $ 140 million spent on cannabinoid and related studies. According to a report published by World Health Organization, CBD shows no significant results indicative of any abuse or dependence potential. As of now, there is no significant evidence of side effects associated with the use of CBD.
However, due to presence of alternative plant-based nutraceuticals like raspberry ketones, garcinia cambogia, turmeric and Echinacea, prohibition for the use of CBD in some countries, the strict regulations regarding use of CBD-based products has been obstructing factors in the growth of CBD nutraceuticals market.
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North America Emerges as the Largest Market for CBD Nutraceuticals
Legalization of marijuana countries like the United States, increasing usage due to rising awareness of the health benefits of CBD-based nutraceuticals, North American region is predicted to have immense growth with highest market share in the global market. The presence of industry players in the region is also having a promising impact on the CBD nutraceuticals market growth. Furthermore, increasing population of health-conscious consumers, the heavy funding for R&D activities and well-developed healthcare infrastructure are fueling the market growth for CBD nutraceuticals market.
Medical Marijuana, Inc.
CV Sciences, Inc.
Garden of Life
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