CBD Patch Market Will Rise at A CAGR of 8.5%;Industry Share, Size, Growth Rate, Trends, Share, Developments, and Regional Outlook With Industry Forecast To 2029
The CBD Patch Market report provides key statistics on the market size, share, status, growth factors, Challenges and Current Scenario Analysis of the Global CBD Patch. The CBD Patch report is very useful in evaluating brand awareness, market landscape, possible future issues, industry trends and customer behavior with which superior business strategies can be set. Analysis and discussion of key industry trends, market size, sales volume, and market share is also defined in the report. This CBD Patch report makes available the company profile, product specifications, capacity, production value, and market shares for each company for the forecast period. The study objectives are to present the CBD Patch development in North America, China, Europe, and South East Asia, Japan as well as in the Globe.
CBD Patch Market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.5% in the forecast period of 2021 to 2028 and is expected to reach USD 595,148.34 thousand by 2028. Growing adoption of CBD Patch in the pain relief applications and consumer awareness is boosting the market.
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CBD patch Market Recent Developments
- In June 2021, Always Pure Organic Ltd. announced that they are constructing a new 10,000 square foot warehouse. Due to the rise in the demand for their product, the company is investing to overhaul and upsize their warehouse and clean rooms. By constructing this warehouse they can always have enough products in storage and will not face any shortage issue. This will help the company to meets its consumer and partners’ demand.
- In May 2021, CBDMEDIC brand of Charlotte’s Web. announced its partnership with Carli Lloyd, a women’s soccer icon of the US. After her knee injury and surgery in 2020, she has been using the product and felt its effects. She is now spreading awareness among athletes and fitness enthusiasts about the product and encouraging them to reach their goals. This will help the company to build its brand image in the international market.
- In Aug 2019, Harmony announced its merger with RE Botanicals, which has more than 1,200 outlets nationwide. With this merger, the company will not only sell its product online but also will be available in retail stores. In addition, the merger will help the company to expand and to improve its shareholders’ value. With this, it will also provide deeper market penetration to the company.
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Global “CBD Patch Market” Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the CBD Patch in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. CBD Patch Market report categorizes the market based on manufacturers, regions, type, and application. CBD Patch Market reports offer a detailed assessment of the CBD Patch including enabling technologies, current market situation, market assumptions, restraining factors.
The Global CBD Patch market SWOT is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
A collective analysis on ‘CBD Patch’ offers an exhaustive study supported current trends influencing this vertical throughout assorted geographies. Key information regarding market size, market share, statistics, application, and revenue is within the research to develop an ensemble prediction. Additionally, this research offers an in-depth competitive analysis that specializes in business outlook emphasizing expansion strategies accepted by market majors.
The facts and data are represented in the report using diagrams, graps, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.
Key Segmentation of CBD Patch Market:
By Type (Layer Drug-in-Adhesive, Reservoir, Others)
By Application (Chronic Pain, Elevate Mood, Anxiety, Others)
By Distribution Channel (Conventional Stores, Online Stores, Pharmacies)
Top Key Players of CBD Patch Market Report are
- Papa and Barkley
- Pure Ratios
- Charlotte’s Web
- Bioactive Solutions, Inc.
- La Mend Inc.
- Always Pure Organics Ltd
- Envy CBD
- GoGreen Hemp
- Healist Naturals
- Isodiol International Inc.
- Kangdi Overseas Business Co., Ltd.
- Manna Molecular
- Mary’s Medicinal
- Natures Script
- Nutrae, LLC.
- Shenzhen Ruiyan Technology Co., Ltd
Complete Report is Available (Including Full TOC, List of Tables & Figures, Graphs, and Chart) @ https://www.databridgemarketresearch.com/toc/?dbmr=global-cbd-patch-market
The report also focuses on global major leading industry players of Global CBD Patch market providing information such as company profiles, product picture and specification, price, capacity, cost, production, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out. With tables and figures helping analyze worldwide Global CBD Patch market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market. The Global CBD Patch market development trends and marketing channels are analyzed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
CBD patches are transdermal patches containing cannabidiol (CBD). They slowly release CBD into the bloodstream through the skin. Some people may prefer this CBD delivery system to inhaling vaporized CBD or ingesting it orally via edibles or drinks. CBD patches may be a more suitable option for certain applications, such as treating pain, although personal preference will play a role in choosing the best way to take CBD. This transdermal method delivers the CBD quickly to the local area around the patch. From there, it works its way into the bloodstream. When people take CBD orally – via an oil or gummy, for example — the compound must first pass through the digestive system. The body may then use it, break it down, or even simply excrete it as waste. As such, much of an oral CBD dose may be lost in the digestive system.
Increasing demand for CBD patches due to consumer awareness for pain relief applications is the major driving factor in the market. The side effects associated with CBD and THC with the skin allergies can prove to be a challenge however the widening of research scope for medical applications of CBD patches prove to be an opportunity. The restraints by the government and medical bodies for the use of CBD for medical applications and the challenges faced due to the impact of Covid-19 on the supply chain of the raw materials are the restraining factors.
CBD Patch Market Segments by Geography
Middle East & Africa
CBD Patch Market Scope and Market Size
The CBD Patch market is segmented on the basis of the product, species, packaging, dosage, derivative, application, source type, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of product, the CBD Patch market is segmented into reservoir, matrix and layer drug-in-adhesive. In 2021, reservoir segment is dominating the CBD Patch market due to its use in varied CBD applications and its steady and controlled release for longer period of time.
On the basis of species, the CBD Patch market is segmented into cannabis indica, hybrid and sativa. In 2021, cannabis indica segment is dominating the CBD Patch market due to its high CBD and low THC percentage as compared to sativa and hybrid. As many regions have a limit in the use of THC in products, cannabis indica is preferred.
On the basis of packaging, the CBD Patch market is segmented into two to five patches, single patch and more than five patch. In 2021, two to five patches segment is dominating the CBD Patch market due to its high availability and the discounts offered by manufacturers on a bundle of patches in this range.
On the basis of dosage, the CBD Patch market is segmented into below 30 mg, 30-40 mg, 40-50 mg and above 50 mg. In 2021, below 30 mg segment is dominating the CBD Patch market as the market is at its initial stages and new consumers start with low dosage and then increase as per the requirement.
On the basis of derivatives, the CBD Patch market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC) Others. In 2021, cannabidiol (CBD) segment is dominating the CBD Patch market owing to the restrictions on the tetrahydrocannabinol (THC) content of 0.2-0.3% depending on the country of use and also the side effects associated with tetrahydrocannabinol (THC).
On the basis of application, the CBD Patch market is segmented into chronic pain, anxiety, arthritis, elevate mood, neurological pain and others. In 2021, chronic pain segment is dominating the CBD Patch market due to the increase of cases of chronic pain such as neck pain, shoulder pain, etc and the high availability of patches in the pain relief application.
On the basis of source type, the CBD Patch market is segmented into natural and synthetic. In 2021, natural segment is dominating the CBD Patch market due to the trust of consumers on the natural products as plant based products are considered safe without any skin problems or allergies.
On the basis of end use, the CBD Patch market is segmented into homecare setting, research and development centers, hospital, clinics, rehab centers and others. In 2021, homecare setting segment is dominating the CBD Patch market as the CBD product utilization is not yet approved in the hospitals and clinics.
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This CBD Patch Market Research/analysis Report Contains Answers to your following Questions
Which Manufacturing Technology is Used for CBD Patch? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
Who Are the Global Key Players in This CBD Patch Market? What’s Their Company Profile, Their Product Information, and Contact Information?
What Was Global Market Status of CBD Patch Market? What Was Capacity, Production Value, Cost and PROFIT of CBD Patch Market?
What Is Current Market Status of CBD Patch Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of CBD Patch Market by Taking Applications and Types in Consideration?
What Are Projections of Global CBD Patch Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
What Is CBD Patch Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is Economic Impact On CBD Patch Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of CBD Patch Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for CBD Patch Industry?
Strategic Points Covered in Table of Content of Global CBD Patch Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the CBD Patch market
Chapter 2: Exclusive Summary – the basic information of the CBD Patch Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges of the CBD Patch
Chapter 4: Presenting the CBD Patch Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying market size by Type, End User and Region 2010-2019
Chapter 6: Evaluating the leading manufacturers of the CBD Patch market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries (2020-2029).
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
Finally, CBD Patch Market is a valuable source of guidance for individuals and companies in decision framework.
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