Global CBD nutraceuticals market size to touch US$ 5.2 Bn by 2026 at a CAGR of 16.5%
Noida, Uttar Pradesh, India, March 22 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Poor nutrition created severe economic burden on emerging economies due to poor healthcare policies, and government involvement, however, at present the governments in different countries are expected to focus on malnutrition, introducing healthy meal choices in addition to their standard fare, for example. In some countries, the governments exempted many unprocessed foods or to introduce food taxes as part of their fiscal policies, such as that imposed on sugary soft drinks in the UK, Mexico, France, and Norway. Obesity has reached epidemic sizes in many countries (Mexico, UK, UAE, Australia, Canada, USA, and New Zealand, among others), and is a serious threat to health and life expectancy. In Spite of advances in food science, and technology, and sufficient food production to feed the global population, malnutrition remains prevalent. In addition to malnutrition, obesity is rising in emerging economies, and surprisingly, often sits alongside malnutrition in communities of emerging economies. Poor nutrition is one of the factors that is responsible for the chronic diseases. Following these promising developments, the Global CBD Nutraceuticals Market is estimated to see healthy growth, pegged at a CAGR of around 16.5% throughout the forecast period 2020-2026.
Rising awareness regarding health and dietary habits
Globally, the consumers are increasingly concerned about their health and dietary habits. As people are money-rich and time-poor, the demand for convenience and health at the same time is on a rise. Nutraceutical market companies provide flexible packaging, which is designed for an on-the-go lifestyle, and keeps functional food fresh, and brings added convenience. Millennials are even more concerned about their health than their baby boomer counterparts. The growth in demand for flexible packaging of nutraceuticals is driven by millennials. For companies to differentiate themselves from the competition, and create space in a crowded market, they are changing their delivery systems. It has evolved beyond tablets and capsules to include newer modes of delivery, which includes soft chews, chewing gum, gummy bears, patches, lollipops, and quick-dissolving strips.
Rising non-communicable diseases will escalate the market growth
Non-communicable diseases have serious socioeconomic consequences, by increasing individual and household impoverishment and hindering social and economic development. The rapid rise in NCDs is predicted to hinder the poverty reduction initiatives in emerging economies by increasing household costs associated with the healthcare. For dealing with the rising treatment costs, individuals are inclined towards nutraceuticals, for the effective prevention of chronic diseases, which is stimulating the growth of the nutraceuticals market. Lastly, the rise in the aging population, increase in life expectancy rates, and rising prevalence of chronic diseases have changed the eating patterns of the consumers.
Segmentation Overview of the Global CBD Nutraceuticals Market
The CBD nutraceuticals market is segmented based on type, application, and end user. These major market segments are further categorized into various sub-segments to study the market in detail.
By Type Outlook (CBD Tinctures, Capsules & Softgels, CBD Gummies, Others)
By End User Outlook (Retail Stores, Onnline, and Pharamacies)
Key Players Insights
Charlotte’s Web; Elixinol; Medical Marijuana, Inc.; CV Sciences, Inc.; Irwin Naturals; and Diamond CBD, among others, are some significant players included in the research study of the global CBD nutraceuticals market.
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