Cannabis Market: Exploring Growth Opportunities and Balancing Public Health Concerns
Cannabis is a compound extracted from the cannabis plant. Unlike its counterpart, tetrahydrocannabinol (THC), CBD does not have psychoactive effects but is believed to possess therapeutic and health benefits. The market outlook for CBD Cannabis is promising.
According to data from market.us, the global CBD Cannabis market is projected to reach $7.6 billion by 2023, with an estimated increase to approximately $36.6 billion by 2033. During the period from 2024 to 2033, the CBD Cannabis market is expected to experience the highest compound annual growth rate of 17.5%.
The demand and supply of CBD Cannabis have shown rapid growth in recent years, especially in the United States. The product forms of CBD Cannabis are becoming increasingly diverse, spanning various sectors such as food, beverages, cosmetics, oils, pharmaceuticals, and more.
According to predictions from a CBD market research company, the production value of CBD Cannabis is expected to reach $16 billion by 2025. Notably, some well-known beverage and pharmaceutical manufacturers have expressed interest in or are exploring the possibility of entering this industry.
As more regions legalize non-medical cannabis, the diversity and potency of cannabis products available to consumers have increased. This has raised concerns about acute harms associated with cannabis use, such as emergency department visits for psychological distress and severe vomiting, particularly related to high-potency products and edibles.
To address these issues and promote public health, recommendations include early restrictions on edible and high-potency products, clear and consistent labeling of cannabis products, and robust data collection to monitor harms classified by product type and consumer characteristics. These measures aim to strike a balance between cannabis legalization and public safety.
The future of the CBD Cannabis market looks promising. With changing regulatory environments and a growing understanding of the potential benefits of cannabis, CBD Cannabis is becoming a globally recognized industry.
The rapid growth in market size indicates significant potential in this emerging field, attracting the attention of numerous manufacturers and investors. With reasonable regulations in place, CBD Cannabis is poised to offer consumers worldwide more diversity and choices in the near future.
Editorial Guidelines: This article is informational and not a replacement for professional medical advice. Consulting a healthcare provider is recommended before beginning any new supplement regimen.
Cannapresso is an End-To-End CBD Solution provider, with Design, Filling and Co-Packing.