Growth of CBD market predicted in report

The growth of the CBD market for the treatment of neurological conditions is set to rise in the coming years, a report claims.

With a large rise in the availability of CBD products and public opinion towards it becoming more positive over the past decade, the consumption of the ingredient has exploded.

In a report, Global Market Insights, Inc., forecasts that global cannabidiol market size could be worth more than $89bn by 2026.

Over the past few years, cannabidiol, or CBD, has caught the public’s imagination as an ingredient presenting a range of health benefits when infused in various consumables. More and more individuals worldwide are now vouching for its effectiveness in terms of alleviating certain chronic illnesses and treating several health conditions. If it continues the growth of the CBD market could be huge.

CBD has conquered industry after industry, from pharmaceuticals to personal care and cosmetics, food and beverages, and nutraceuticals.

Cannabidiol is the legal and non-psychoactive counterpart of tetrahydro cannabidiol (THC), the chemical compound responsible for cannabis’s psychological effects. CBD is the second most-commonly used active ingredients of cannabis. The cannabinoid is derived directly from the hemp plant, a cousin of the cannabis plant, and forms an essential component of medical cannabis.

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