Increasing public awareness of the health benefits offered by cannabinoids and the growth of new players in the market, resulting in increased product development are fueling growth.
In addition, increasing acceptance and acceptance of cannabis and cannabinoid therapy among consumers and medical professionals regarding anti-inflammatory drugs is expected to boost the growth of the market in the coming years.
Additionally, changing perceptions and attitudes about cannabis products further increases revenue growth. For example, a 2020 article published in Cannabis products and research by IRI & The BDSA aims to change consumer perceptions of cannabis.
Users are divided into three categories, namely users, adopters, and rejecters. According to the survey, about 33% of the population were adopters and 36% were current users. In addition, regular admissions have increased by 10% in the last two years. Such events indicate the potential growth of the market in the near future.
In 2021, in terms of product, the cannabidiol (CBD) segment dominated the market with a revenue share of 27.2%. This development is attributed to various reasons, such as the increased use of CBD-based products in sports nutrition, health and wellness, cosmetics, and other fields. Additionally, companies are trying to diversify their product portfolio into different categories to cater to a larger consumer pool. It will help in increasing product visibility and entering new customer segments.
In addition, players continue to implement strategic initiatives, such as partnerships, collaborations, product launches, and much more to expand their revenue share and presence. For example, in 2020, the American Marijuana Company, Inc. has announced a mutual investment in partnership with Cannabis Global, Inc. This will help the company gain a foothold in the growing CBD market. In addition, this partnership aims to expand the presence of both companies by leveraging the good resources of both companies.
The COVID-19 outbreak has had a significant impact on the cannabis industry as a whole, thereby impacting the US market for cannabinoids. Disruption of the supply chain was one of the main factors that disrupted the market during the crisis.
For example, according to an article published in 2021 in Supply and Demand Chain Executive, the disruption of the industry, production, and distribution of cannabis and cannabinoid-based products has led to a shortage during the peak months of the disease. It also leads to increased costs for specialized transportation and/or distribution, which in turn hinders growth.
Other major disruptions during the pandemic include nationwide lockdowns, panic buying, and inflation. However, since the trend is moving toward normalization, support and demand for cannabinoid products is expected to increase.
US Cannabinoids Market Report
Chapter 1 Strategy and Framework 1.1 Market Segmentation and Problem 1.2 Market Definition 1.3 Research Methodology 1.4 Research Scope and Assumptions 1.5 List to Data Sources
Chapter 2 General Summary 2.1 Market
Chapter 3 Cannabinoids US Cannabinoids market, Trends & amp; Scope3.1 Introduction and Development Map3.2 Cannabis and Cannabinoids Market Structure in the US3.3 US Cannabinoids Market Dynamics3.3.1 Market Driver Analysis3.3.2 Market Restraint Analysis3.4 US Cannabinoids Market Analysis Tools3.3 -4.1 PESTLE Analysis3 .5 Top Business & Strategic Integration Analysis 3.6 Opportunity Analysis (2016-2021-2030) 3.7 Supply Chain Analysis 3.8 Impact of COVID-19 on the US Cannabinoids Market
Chapter 4 United States Cannabinoids Market: Competitive Landscape Analysis4.1 Recent Developments & Impact Analysis, By Key Market Participants 4.2 Company/Market Competition (Key Innovators, Market Leaders, Emerging Players) 4.3 Market Position Analysis
Chapter 5 United States Cannabinoids Market: Product Value & Trend Analysis5.1 United States Cannabinoids Market: Product Movement Analysis, USD Million, 2021 & 20305.2 Tetrahydrocannabinol (THC) 5.2.1 Tetrahydrocannabinol (THC) Market Statistics and Forecast, 2016 – 2030 (USD Million) 5.3 Cannabidiol (CBD) 5.4 Cannabigerol (CBG) 5.5 Cannabichrome (CBG) 5.5 Cannabigerolic acid (CBGA)
Chapter 6 Company Profile 6.1 Company Profile 6.2 Financial Performance 6.3 Product Standards 6.4 Strategy
For more information about this report visit https://www.researchandmarkets.com/r/tgzzgo
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