The cannabidiol (CBD) industry's rapid growth reflects the many needs this compound meets. However, regulatory and health issues related to its use remain unaddressed, according to a report by Research & Markets.
While several properties and benefits of using CBD are apparent, scientific evidence is lacking to demonstrate them effectively. Prescription CBD-based drugs must receive approval from competent authorities in each jurisdiction. The control and compliance of these medicines require clinical trials, while CBD does not. Therefore, the scope of this research does not consider pharmaceutically derived products.
Market trends include the legalization and regulation of CBD in each region. The future of this industry depends on the development of CBD frameworks and regulatory environments, including the time taken to implement them.
In general, the use of CBD is set to grow significantly from 2022 to 2030. Latin America will advance as a raw hemp provider while Asia-Pacific has the industrial capacity for extraction and separation of the compound.