CBD Patch Market Size, Future Trends, Growth Key Factors, Demand, Business Share, Sales &Income and Forecast 2022-2029
August 5, 2022
Data Bridge Market Research analyses that the CBD Patch Market is growing with a CAGR of 8.5% and is expected to reach USD 595,148.34 thousand by 2028.NEW YORK, UNITED STATES, August 5, 2022 /EINPresswire.com/ -- DBMR added a comprehensive research document of 350+ pages on 'Global CBD Patch Market Share, Size, Industry Trends and Forecast 2028 with detailed insights on growth factors and strategies. CBD Patch report has been structured after a thorough study of various key market segments like market size, share, growth, demand, latest trends, market threats and key drivers which drives the market. Strategically analyzed facts and figures of the market and keen business insights covered in this industry analysis report would be a key aspect in achieving enduring business growth. The report offers steadfast knowledge and information of revolutionizing market landscape, what already exists in the market, future trends or what the market expects, the competitive environment, and strategies to plan to outshine the competitors.
CBD Patch Market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.5% in the forecast period of 2021 to 2028 and is expected to reach USD 595,148.34 thousand by 2028. Growing adoption of CBD Patch in the pain relief applications and consumer awareness is boosting the market.
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Market Analysis and Insights: Global CBD Patch Market
CBD patches are transdermal patches containing cannabidiol (CBD). They slowly release CBD into the bloodstream through the skin. Some people may prefer this CBD delivery system to inhaling vaporized CBD or ingesting it orally via edibles or drinks. CBD patches may be a more suitable option for certain applications, such as treating pain, although personal preference will play a role in choosing the best way to take CBD. This transdermal method delivers the CBD quickly to the local area around the patch. From there, it works its way into the bloodstream. When people take CBD orally - via an oil or gummy, for example — the compound must first pass through the digestive system. The body may then use it, break it down, or even simply excrete it as waste. As such, much of an oral CBD dose may be lost in the digestive system.
Increasing demand for CBD patches due to consumer awareness for pain relief applications is the major driving factor in the market. The side effects associated with CBD and THC with the skin allergies can prove to be a challenge however the widening of research scope for medical applications of CBD patches prove to be an opportunity. The restraints by the government and medical bodies for the use of CBD for medical applications and the challenges faced due to the impact of Covid-19 on the supply chain of the raw materials are the restraining factors.
The Major Companies which are dealing in the CBD Patch Market are Papa and Barkley, Pure Ratios, Charlotte’s Web, Bioactive Solutions, Inc., La Mend Inc., Always Pure Organics Ltd, Envy CBD, GoGreen Hemp, Harmony, Healist Naturals, HempBombs.com, Isodiol International Inc., Kangdi Overseas Business Co., Ltd., Manna Molecular, Mary’s Medicinal, Natures Script, Nutrae, LLC., PureKana, SAVAN, Shenzhen Ruiyan Technology Co., Ltd, Snowden Ltd., Social CBD, Upstate Elevator Supply Co., and other in domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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In March 2020, Papa & Barkley launched the new product line of innovative rosin-infused skincare products. This cannabis and CBD skincare products are for patients who have irritated skin, sunburn, minor aches, scars, and redness among others. This will help the company to increase its portfolio in cannabis and CBD wellness markets.
In June 2020, Charlotte's Web Holdings, Inc. acquired Abacus Health Products, Inc., a developer of active pharmaceutical products which contain natural ingredients, including a cannabinoid-rich hemp extract. This will help the company to cement its position in both topical and ingestible products in the CBD category.
The report also focuses on global major leading industry players of Global CBD Patch market providing information such as company profiles, product picture and specification, price, capacity, cost, production, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out. With tables and figures helping analyze worldwide Global CBD Patch market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market. The Global CBD Patch market development trends and marketing channels are analyzed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
CBD Patch Market Scope and Market Size
The CBD Patch market is segmented on the basis of the product, species, packaging, dosage, derivative, application, source type, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of product, the CBD Patch market is segmented into reservoir, matrix and layer drug-in-adhesive. In 2021, reservoir segment is dominating the CBD Patch market due to its use in varied CBD applications and its steady and controlled release for longer period of time.
On the basis of species, the CBD Patch market is segmented into cannabis indica, hybrid and sativa. In 2021, cannabis indica segment is dominating the CBD Patch market due to its high CBD and low THC percentage as compared to sativa and hybrid. As many regions have a limit in the use of THC in products, cannabis indica is preferred.
On the basis of packaging, the CBD Patch market is segmented into two to five patches, single patch and more than five patch. In 2021, two to five patches segment is dominating the CBD Patch market due to its high availability and the discounts offered by manufacturers on a bundle of patches in this range.
On the basis of dosage, the CBD Patch market is segmented into below 30 mg, 30-40 mg, 40-50 mg and above 50 mg. In 2021, below 30 mg segment is dominating the CBD Patch market as the market is at its initial stages and new consumers start with low dosage and then increase as per the requirement.
On the basis of derivatives, the CBD Patch market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC) Others. In 2021, cannabidiol (CBD) segment is dominating the CBD Patch market owing to the restrictions on the tetrahydrocannabinol (THC) content of 0.2-0.3% depending on the country of use and also the side effects associated with tetrahydrocannabinol (THC).
On the basis of application, the CBD Patch market is segmented into chronic pain, anxiety, arthritis, elevate mood, neurological pain and others. In 2021, chronic pain segment is dominating the CBD Patch market due to the increase of cases of chronic pain such as neck pain, shoulder pain, etc and the high availability of patches in the pain relief application.
On the basis of source type, the CBD Patch market is segmented into natural and synthetic. In 2021, natural segment is dominating the CBD Patch market due to the trust of consumers on the natural products as plant based products are considered safe without any skin problems or allergies.
On the basis of end use, the CBD Patch market is segmented into homecare setting, research and development centers, hospital, clinics, rehab centers and others. In 2021, homecare setting segment is dominating the CBD Patch market as the CBD product utilization is not yet approved in the hospitals and clinics.
On the basis of distribution channel, the CBD Patch market is segmented into dispensaries & pharmacies, online and conventional stores. In 2021, dispensaries & pharmacies segment is dominating the CBD Patch market due to its presence and established supply chain from the manufacturer to consumer.
On the basis of region, the CBD Patch market is segmented into North America, South America, Europe, Asia-Pacific, Middle East & Africa. In 2021, North America region is dominating the CBD Patch market due to higher number of manufacturers in the region and developed market in the U.S.
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Regional Analysis of the CBD Patch Market:
The global CBD Patch Market research report details the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the Market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors.
➛ North America (United States, Canada, and Mexico)
➛ Europe (Germany, France, UK, Russia, and Italy)
➛ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
➛ South America (Brazil, Argentina, Colombia, etc.)
➛ Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
The readers in the section will understand how the CBD Patch Market scenario changed across the globe during the pandemic and post-pandemic. The study is done keeping in view the changes in aspects such as production, demand, consumption, and supply chain. The Market experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall market in the years to come.
The CBD Patch market report provides answers to the following key questions:
What will be the CBD Patch market size and the growth rate in the coming year?
What are the main key factors driving the global CBD Patch market?
What are the key market trends impacting the growth of the global CBD Patch market?
Which are Trending factors influencing the market shares of the top regions across the globe?
Who are the key market players and what are their strategies in the global CBD Patch market?
What are the market opportunities and threats faced by the vendors in the global CBD Patch market?
What industrial trends, drivers and challenges are manipulating its growth?
What are the key outcomes of the five forces analysis of the global CBD Patch market?
What is the impact of Covid19 on the current industry?
Strategic Points Covered in Table of Content of Global CBD Patch Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the CBD Patch market
Chapter 2: Exclusive Summary - the basic information of the CBD Patch Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges of the CBD Patch
Chapter 4: Presenting the CBD Patch Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying market size by Type, End User and Region 2010-2019
Chapter 6: Evaluating the leading manufacturers of the CBD Patch market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries (2022-2029).
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
Finally, CBD Patch Market is a valuable source of guidance for individuals and companies in decision framework.
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.
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