The Mexico Hemp CBD Market size is projected to reach
USD 275.8 million by 2025, expanding at a revenue-based CAGR of 34.3%,
according to a new report by Grand View Research, Inc. The recent approval by
the Mexico government for the usage of medical cannabis and cannabidiol-derived
products containing less than 1% Tetrahydrocannabinol (THC) is driving the
market. In addition, introduction of innovative hemp-derived cannabidiol (CBD)
products and increasing adoption of these products due to their health benefits
is anticipated to fuel the market growth over the forecast period.
The B2C distribution channel will dominate the market in 2019,
with a revenue share of 53.1%. The rise in the number of retail and online stores
providing hemp-derived products is expected to drive the market over the
forecast period. Moreover, the B2B distribution channel is anticipated to
witness the fastest growth over the forecast period. An increase in the number
of Mexico based companies importing cannabidiol oil for producing finished
products such as supplements, personal care and cosmetics, food, and beverages
is one of the key factors driving the growth of this segment.
Based on end use, the market is segmented into personal use, personal
care and cosmetics, food and beverages, nutraceuticals, and others. The
personal use segment is anticipated to dominate the market in 2019. Growing
demand for CBD oil for relaxation and personal care remedies is a major factor
contributing to the growth of this segment. On the other hand, the food and
beverage segment is expected to witness the fastest growth over the forecast
period. Improving lifestyle and increasing awareness regarding the health
benefits of cannabidiol serves as the major factor propelling the growth of
this segment over the forecast period.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/mexico-hemp-cbd-market
https://www.grandviewresearch.com/industry-analysis/mexico-hemp-cbd-market
Further key findings from the report suggest:
- The
hemp CBD market is anticipated to be reach USD 275.8 million by 2025, due
to the recent approvals granted by the Mexico government for
cannabidiol-based products
- The
B2C distribution channel is projected to dominate the market with a
revenue share of 53.1% in 2019, as there has been a continuous rise in the
number of retail and online stores
- The
food and beverage segment is expected to grow at a fastest rate over the
forecast period due to increasing awareness of cannabidiol for wellness
purposes
- Some
of the major players operating in the market are CBD Life, Canopy Growth
Corporation, Aurora Cannabis, Elixinol, and HempMeds (Medical Marijuana
Inc.).
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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