Analysis of the US drug-free cannabinoid market
The report of our American colleagues focuses on the non-narcotic cannabinoid market and considers, first of all, products that belong to the category of industrial use of the hemp plant ( food , cosmetic preparations , various additives ).
As the leading drug-free cannabinoid producers continue to bring to the market not only cannabidiol-rich products, but also products containing other drug-free cannabinoids, the American The market for products containing therapeutically active elements of the hemp plant is gradually developing despite the COVID 19 pandemic.
Separately, there has been an increase in cannabinol (CBN) and cannabigerol (CBG) product lines, which became noticeable in the second half of 2020 as “CBN found its place as a sleeping pill, while CBG attracted it the most” novelty ”on the market”.
The report focuses on the fact that North American companies specializing in the production of products, which include drug-free cannabinoids, invest the main efforts and resources in the production of various kinds of additives (biologically active, food, feed, etc.), cosmetics, and also food products formulated with cannabidiol, cannabinol, cannabichromen, cannabigerol, and other non-drug cannabinoids.
It is emphasized that despite the fact that the market for products containing non-drug cannabinoids is gradually growing, a significant number of brands using them in their products are leaving the market. The reason for this kind of trend was the problems associated with the closings of a number of stores, lower prices, changes in consumer priorities due to the impact of the coronavirus pandemic. Despite the above, it is expected that sales of products containing non-drug cannabinoids this year will grow by 15% and reach the $ 5.5 billion mark, primarily due to significant growth in the market for food products, cosmetics, beverages and various kinds of additives. containing non-drug cannabinoids in their formulations. Specifically, the CBD drinks sector is forecast to grow 71%, while gum sales are expected to rise 44%.
The prepared materials conclude that despite the legal unresolved issues related to the sale of cannabinoid products in the United States, online sales will exceed $ 2 billion in 2021 and will grow to 38% of the total sales of goods containing in their formulated drug-free cannabinoids. There is a growing trend that "It is becoming increasingly difficult for small brands to enter the market for products containing drug-free cannabinoids and find growth opportunities in what can already be described as an extremely crowded market." Despite the fact that small manufacturers and brands are suffering losses in the tough American market, a number of large players have also failed in it throughout the year - GenCanna, Pyxus International, Myaderm, United Cannabis Corp, Atalo Holdings ”, which predetermined a series of mergers and acquisitions that rolled on this market in the United States over the past year.
Commentary of the specialists of the Association "Ukrainian technical hemp"
I would like to draw special attention to the fact that the report of our American colleagues focuses on the market of drug-free cannabinoids and considers, first of all, products that belong to the category of industrial use of the hemp plant ( food , cosmetic preparations , various additives ). The main idea, which was once again confirmed by the results of the analysis of the American hemp market, is that exponential growth is observed precisely in the sector of the use of therapeutically active elements of the hemp plant in the industrial sphere. Therefore, within the framework of a specialized round table held for the next course of students of the Hemp University , materials are being prepared concerning an in-depth analysis of the drug-free cannabinoid market both in our country and the situation, which, according to a number of signs, “manifests itself” on the global hemp market.