Cannabidiol (CBD) Water is anticipated to have CAGR of ~5.0% over 2019-2028. CBD is a chemical compound found in the cannabis plant. The increase in the population experiencing the chronic pain and anxiety are anticipated to grow significantly in the coming years. Furthermore, the growth in the awareness regarding the advantages posed by the Cannabidiol water would boost the industry in the forecast period. The surge in the disposable income would help the industry to boost in the next few years.

Top Driver: Surge In Population Experiencing Chronic Pain to boost the industry

Cannabidiol (CBD) Water is projected to grow with the increase in the number of individuals who are experiencing chronic pain are anticipated to help the industry grow in the forecast period. According to the report given by the Center for Disease Control and Prevention in 2016, an estimated 20.4% of U.S. adults had chronic pain and 8.0% of U.S. adults had high-impact chronic pain. Both were more dominant among adults living in poverty, adults with less than a high school education, and adults with public health insurance. This owes to the surge in the inactivity due to the advancement in the technologies which has reduced human efforts. The increase in the population experiencing anxiety is also anticipated to take Cannabidiol Water for management of the condition, which would help the industry to flourish in the next few years.

Off-Line to Make Crucial Contribution to Growth of Global Cannabidiol (CBD) Water Market

Among distribution channel segments of the global Cannabidiol (CBD) Water market, off-line commercial segment is anticipated to gain highest revenue shares in the coming years. This is due to the surge in the number of retail stores across various regions in the developed and the developing countries. Furthermore, the ease of the returning of the products and gaining information regarding the dose to be taken, reliability is anticipated to help the market boost in the near future. The on-line segment is anticipated to show higher CAGR due to the increase in the number of mobile phone users and betterment in the transportation services during the forecast period.

Surge In Patient Population to Benefit North America Market

North America is experiencing highest revenue growth than any other country and is anticipated to flourish further in the coming years. The surge in the number of individuals experiencing the chronic pain and the incidences of anxiety getting increased in the region would help the market to grow in the near future. The Asia Pacific region is expected to grow with the highest CAGR, owing to the rise in population and the disposable income in the region and would grow further significantly in the next few years.

Due to outbreak of COVID-19 the major industries are observed to experience negative revenue growth, as the government has enforced the lockout situation in the majority of the countries. The growth in the awareness programs through video conferencing however would help the Cannabidiol industry to grow in the current scenario.

Players to Focus on Cannabidiol (CBD) Water

The global Cannabidiol (CBD) Water market leaders include CBD Fusion Water, Quantum Pcr, Cannanano, Cannabidiol Life, CBD Naturals, CBD Living, and Cannabinoid Creations.

HempFusion: In October 2017, HempFusion, which is a leading Hemp/CBD company in the United States with distribution of its family of brands to over 3,400 retailers across 47 states, is pleased to announce the launch of its innovative & delicious Twist product line featuring the Company’s proprietary Whole Food Hemp Complex.

Quantum Corporation: In February 2020, Quantum Corporation announced it had entered into an agreement with Western Digital Technologies, Inc., a subsidiary of Western Digital Corp., to acquire its ActiveScale object storage business. The addition of the ActiveScale product line and talent brings object storage software and erasure coding technology to Quantum’s portfolio, and enables the company to expand in the object storage market.  The acquisition demonstrates Quantum’s commitment to innovation and growth, extending the company’s leadership role in storing and managing video and unstructured data using a software-defined approach.

Aurora Cannabis Inc.: In May 2020, Aurora Cannabis Inc., the Canadian company defining the future of cannabinoids worldwide, and Reliva, LLC, a leader in the sale of hemp-derived CBD products in the United States, announced that they have entered into an agreement pursuant to which Aurora will acquire all of the issued and outstanding membership interests of Reliva.

Scope of the Report

By Type

• Industrial Hemp-Derived
• Medical Marijuana-Derived
  

By Distribution Channel

• Supermarket
• Online Retail
• Offline Retail

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.