Visiongain Publishes Mexico Hemp CBD Market Report 2020-2030

23 July 2020
Pharma

Visiongain has launched a new report Mexico Hemp CBD Market Report 2020-2030: Forecasts by Distribution Channel (B2B, and B2C (Pharmacies, Online Store, and Retail Stores), by End-user (Personal Use, Persona Care & Cosmetics (Skin Care & Others), Food & Beverages, Nutraceuticals, and Others), Plus Profiles of Leading Companies.

Mexico drew international attention when its government took steps towards legalizing medicinal cannabis. In 2017, the Mexican president signed a bill into law that officially legalized the cultivation, production, and use of medical cannabis products with less than 1% tetrahydrocannabinol (THC) in Mexico. THC is one of at least 113 chemical compounds known as cannabinoids that are found in marijuana and hemp (both belonging to genus cannabis) and may stimulate the body's endocannabinoid system in various ways. Unlike THC, cannabidiol (CBD) derived from hemp is likely to be non-intoxicating and have fairly surprising applications and potential for averting and treating numerous health conditions. Mexico's distinctive new law gives producers the liberty to start putting CBD in everyday health products which would also give consumers unprecedented access to hemp CBD.

The usage of CBD is growing at a substantial rate in the country. Consumer products such as oils, beverages, beauty & skincare products, food products, and pet foods are preferred among people due to their health benefits. Also, CBD is used extensively in the manufacturing of medical drugs due to lack of psychoactive effects and also in the treatment of like diseases such as epilepsy, parkinson’s, and cancer.

The Visiongain report analyst commented “that the fundamental factors attributing to market growth are favourable and encouraging government policies that contributed to increasing adoption of hemp-derived products and growing acceptance of cannabidiol (CBD). Moreover, growing awareness about cannabidiol due to its non-psychoactive properties is anticipated to drive the market for hemp CBD over the forecast period.”

Products with natural and organic ingredients are reporting high demand because of the strong need among consumers for using natural products. This, in turn, is creating a demand for CBD. The legalization of these products has created opportunities for end-user industries to expand their market reach in Mexico.

The extraction of CBD from hemp is an expensive process, as currently, there are a limited number of processors available. Also the prices are highly reliant on farming practices, quality, extraction process cost, laboratory testing cost, and various other factors. Thus fluctuating cost of CBD products is obstructing market growth. Moreover, converting farms from illicit to legal grows represents a significant challenge for the Mexican government due to the activity and influence of drug cartels which is further limiting the market growth.

The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report include Aurora Cannabis, ENDOCA, Elixinol, CV Sciences, Inc., CBD Life, HempMeds, JOY Organics and Canopy Growth Corporation.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 20 7549 9987.

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain Publishes Rare Diseases Market Report 2021-2031

As lockdowns were imposed in all the countries, diagnosis rates went down in majority of countries during the year hitting the drug sales for some period. Although lockdown measures have been eased up in most countries by mid-year 2020, this trend is expected to continue beyond 2020, stock up of medicines by patients is likely to propel the drug sales in majority of the developed economies, which account for majority of rare diseases.

02 March 2021

Read

Visiongain Publishes Respiratory Inhalers Market Report 2021-2031

Product approval is a major milestone facing all key competitors in the respiratory inhalers market. Several strategies were implemented by key market players between 2015 and Jan 2021.

26 February 2021

Read

Visiongain Publishes Bile Duct Cancer Drugs Market Report to 2031

The global bile duct cancer drug market has been growing considerably owing to the rising incidence and prevalence rate of bile duct cancer patients worldwide, technological advancement in drug development, and healthcare spending.

22 February 2021

Read

Visiongain Publishes Big Data Analytics in Healthcare Market Report to 2031

The global Big Data Analytics in Healthcare market has been growing considerably owing to the rising technological advancement, growing investment, and cohesive government policies.

22 February 2021

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever