What is Cannabidiol (CBD) Market Scope?
Cannabis is a drug that comes from Indian hemp plants including Cannabis sativa and Cannabis indica. South Africa, cannabis production and distribution has booming. Cannabis is majorly adopted for many recreational used in various forms including ingested in teas, sodas, baked goods and also in vaporizing form. The cannabis is applied to multiple consumer goods such as carbonated beverages, coffee, alcohol, tobacco, and other packaged goods. The cultivation, production, and manufacturing of Cannabis products for medicinal use in South Africa. South Africa minimizes the risk of diversion of Cannabis and reserves its use for medical and scientific purposes only with the help of the International Narcotics Drug Control Board.
The Cannabidiol (CBD) market study is being classified, by Application (Personal Care & Cosmetics, Pharmaceutical, Food & Beverages and Others) and major geographies with country level break-up.
The global CBD market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability.
Canopy Growth Corporation (Canada), Elixinol (United States), Aphria, Inc. (Canada), CannaLife (South Africa), BIOMUTI (Pty) Ltd (South Africa), NuLeaf Naturals, LLC (United States), Oil Science (South Africa), Cannaza (South Africa), CBD Biotechnologies (South Africa) and King CBD (South Africa) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of MEA Cannabidiol (CBD) market by Type, Application and Region.
On the basis of geography, the market of Cannabidiol (CBD) has been segmented into MEA (South Africa).
In Jun 2019, Applied DNA announced a partnership with TheraCann International Benchmark Corporation. That is an agreement with House of hemp, a licensed pioneer in South African fiber, seed, oil and Cannabidiol medicinal production. This agreement with HOH defined the new opportunities across an array for the ETCH platform.
In May 2019, South Africa is the first in Africa region who has federally approved for non-prescription CBD. According to the Health Minister Aaron Motsoaledi amended the country’s medicines and related substances Act 1965, on the removal of cannabidiol preparations for nonserious health claims on the recommendation of South African Health Products Regularity Authority.
Influencing Market Trend
- Increase Government Initiatives towards Cannabis-Related Research and Development
- Advancement in Cultivation and Production Methods
Market Drivers
- High Demand for Cannabis-Related Pharmaceutical Products
- Rising Geriatric Population In Need Of Treatment for Chronic Diseases
- Growing Demand for Cannabis Testing Products from Luxury Cannabis Products
Opportunities
- Growing South Africa Legalization of Cannabis and Hemp
Restraints
- Fluctuation in Price and Foreign Currency Exchange Rates
- High Cost Related Within Cannabis Testing Equipment
Challenges
- High Initial Investments to Set Up Laboratories Are Expect To Challenge the Market
- Stringent Regulations
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, CBD Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Customization available in this Study:
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