Global CBD Patch Market is growing with factors such as increase in the usage of CBD patch for the treatment of chronic pain. Growing sales of CBD products through online mode is also contributing to the growth of CBD patch market to a greater extent.
Increase in the usage of various CBD patch for various application have propelled the demand of the market. However, limited and restricted approval from government and medical bodies is hindering the growth on the market.
Global CBD patch market Scenario
According to Data Bridge Market Research, the market for CBD patch in North America has the highest market share followed by Europe and Asia-Pacific. Prospectus leader on the market of CBD patch are Papa and Barkley followed by Pure Ratios.
- In July 2020, Materia announced that they have signed an agreement with Pure Ratios to distribute and market its product in European market. Through this agreement the company will launch its product in UK market which is Europe’s largest CBD market. This agreement will help the company to propel into a leading global wellness brand.
Trends Impacting the Market
Now the questionis who are the key vendors & niche leaders of the CBD patch market? Data Bridge Market Research has forecasted a large growth in North America CBD patch market and the market leaders targeting US to be their next pocket revenue for 2021.
The CBD patch market is becoming more competitive with companies like Papa and Barkley, Pure Ratios, Charlotte’s Web, Bioactive Solutions, Inc., La Mend Inc., Always Pure Organic Ltd., Harmony among others. These are the top dominating companies in CBD patch market and have launched advanced services and solutions in the market. The data bridge market research new reports highlight the major growth factors and opportunities in the Global CBD patch market.
CBD patch Market Developments
- In June 2021, Always Pure Organic Ltd. announced that they are constructing a new 10,000 square foot warehouse. Due to the rise in the demand for their product, the company is investing to overhaul and upsize their warehouse and clean rooms. By constructing this warehouse they can always have enough products in storage and will not face any shortage issue. This will help the company to meets its consumer and partners' demand.
- In May 2021, CBDMEDIC brand of Charlotte's Web. announced its partnership with Carli Lloyd, a women's soccer icon of the US. After her knee injury and surgery in 2020, she has been using the product and felt its effects. She is now spreading awareness among athletes and fitness enthusiasts about the product and encouraging them to reach their goals. This will help the company to build its brand image in the international market.
- In Aug 2019, Harmony announced its merger with RE Botanicals, which has more than 1,200 outlets nationwide. With this merger, the company will not only sell its product online but also will be available in retail stores. In addition, the merger will help the company to expand and to improve its shareholders' value. With this, it will also provide deeper market penetration to the company.
Scope of the CBD patch Market
Global CBD patch market is segmented on the basis of countries into the U.S., Canada, Mexico, Germany, France, Italy, U.K., Spain, Switzerland, Russia, Netherlands, Belgium, Ireland, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Philippines, Indonesia, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Israel, Egypt and Rest of Middle East and Africa.
- All country based analysis of the Global CBD patch market is further analysed based on maximum granularity into further segmentation. On the basis of product, the global CBD patch market is segmented into layer drug-in-adhesive, reservoir and matrix. On the basis of spices, the global CBD patch market has been segmented into cannabis indica, sativa and hybrid. Cannabis indica is further segmented into layer drug-in-adhesive, reservoir and matrix. Sativa is further segmented into layer drug-in-adhesive, reservoir and matrix. Hybrid is further segmented into layer drug-in-adhesive, reservoir and matrix. On the basis of packaging, the global CBD patch market has been segmented into two to five patches, single patch and more than five patches. On the basis of dosage, the global CBD patche market has been segmented into below 30mg, 30-40 mg, 40-50mg and above 50 mg. On the basis of derivatives, the global CBD patche market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC) and others. Cannabidiol (CBD) is further segmented into layer drug-in-adhesive, reservoir and matrix. Tetrahydrocannabinol (THC) is further sub-segmented into layer drug-in-adhesive, reservoir and matrix. On the basis of application, the global CBD patch market has been segmented into chronic pain, anxiety, arthritis, elevate mood, neurological pain and others. Chronic pain is further segmented into layer drug-in-adhesive, reservoir and matrix. Anxiety is further segmented into layer drug-in-adhesive, reservoir and matrix. Arthritis is further segmented into layer drug-in-adhesive, reservoir and matrix. Elevate Mood is further segmented into layer drug-in-adhesive, reservoir and matrix. Neurological pain is further segmented into layer drug-in-adhesive, reservoir and matrix. On the basis of source type, the global CBD patch market has been segmented into natural and synthetic. On the basis of end user, the global CBD patch market has been segmented into homecare setting, research and development centers, hospital, clinics, rehab centers and others. On the basis of distribution channel, the global CBD patch market has been segmented into dispensaries & pharmacies, online and conventional stores.
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Key Pointers Covered in CBD patch Market Industry Trends and Forecast to 2028
- Market Size
- Top to Bottom Market Analysis
- Recent Developments for Market Competitors
- Recent Market Value for Different Countries
- Market value and over view of CBD patch market
- Company profiling of top eight players of CBD patch market
Key Market Competitors Covered in the Report
- Papa and Barkley
- Pure Ratios
- Charlotte’s Web
- Bioactive Solutions, Inc.
- La Mend Inc.
- Always Pure Organics Ltd
- Envy CBD
- GoGreen Hemp
- Healist Naturals
- Isodiol International Inc.
- Kangdi Overseas Business Co., Ltd.
- Manna Molecular
- Mary’s Medicinal
- Natures Script
- Nutrae, LLC.
- Shenzhen Ruiyan Technology Co., Ltd
- Snowden Ltd.
- Social CBD
- Upstate Elevator Supply Co.
Above are the key players covered in the report, to know about more and exhaustive list of CBD patch companies https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-cbd-patch-market
Research Methodology: Global CBD patch market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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