Like every other industry, CBD IN INDIA is one such topic that is creating buzz and hype everywhere. Well, one thing for sure is that every industry has its challenges and opportunities.
The part worth knowing is, if they make it through all the highs and lows, establishing a place in the market!
CBD is officially everywhere now and people in India are beginning to realize its worth and benefits as well. What was once a specialized alternative medical procedure is now spreading across the country!
People today, use CBD for nearly everything. There is probably someone out there using CBD or other cannabis medicines to treat just about any illness.
According to Forbes, CBD has evolved to be a major market, and it is only anticipated to continue to expand.
What studies worldwide have to say - Global Predictions/ Expectations
Even though CBD still hinges on crucial developments, it does have a bright future as per reports…
Different studies by various scholars and researchers give different results.
According to expert industry estimates, the industrial hemp market will reach its highest revenue of US$ 3259.5 million by 2028.
In detail, this means that the market for industrial hemp is expected to be worth US$ 1358.8 million in 2022 and US$ 3259.5 million by 2028 after being readjusted, with a CAGR of 15.7% during the forecast period of 2022-2028.
According to the Centre for Medicinal Cannabis, the UK CBD market is worth £300 million.
When it comes to the market for cannabidiol in India, (CBD) is anticipated to increase in value at a rate of 21.8%, from US$ 5.49 billion in 2019 to US$ 26.25 billion by 2027.
The usage seems to be increasing significantly in medical applications, dietary supplements, and other fields.
According to a recent study assessment by Global Market Insights Inc., the cannabidiol (CBD) market is expected to transcend USD 56.2 billion by 2028.
The therapeutic drug - A Study
Numerous clinical trials regarding the treatment of various conditions, including neuropathic pain, are being conducted with cannabidiol products.
By now we know the reasons for the hype today! The market for cannabidiol is segmented into categories such as neurological diseases, chronic pain, migraine, skin care, seizures, anxiety/stress, sleep/insomnia, and others.
Pain relief, anxiety, stress alleviation, acne, inflammation, nausea, asthma, sleeplessness, concentration, and muscle recovery are all things that CBD oils can aid with.
Numerous scientific research has indicated that cannabidiol may be effective in treating a variety of disorders.
Out of all the surveys and studies, it was also found that the most common reason for consuming CBD products was relaxation/stress and anxiety!
While conventional medications can ease pain and stiffness, some people choose CBD because it is more natural.
There is mounting evidence that marijuana’s non-psychoactive components, such as CBD, may offer a novel method of treating severe conditions.
Among those surveyed, the most common reason for taking CBD was to relax and reduce stress/anxiety, and among those, 64% said CBD was “very or very effective.”
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Will there finally be a rise in the market?
That all the above-mentioned sources have proven that the CBD market is definitely going to rise in India as well as globally.
The global market for cannabidiol is predicted to expand at a profitable rate throughout the forecast period as a result of the growing use of CBD-based products to cure illnesses.
The medicinal advantages of cannabidiol are becoming more widely known, and this is leading consumers to purchase cannabidiol products regardless of price.