US Plant Cannabinoid Market Trends
In the United States, such segments of the
hemp business exploiting the therapeutic properties of the plant as food,
drinks, various supplements, body care products, and pet products are actively
developing. After years of triple-digit growth in the US market for plant-based
industrial cannabidiol, the market is set to stabilize starting in 2022 . At
the moment, the most popular non-drug drugs on the US market cannabinoid is the
plant cannabidiol. There is a growing market for “minor” cannabinoids derived from
the hemp plant.
Despite the paradigm imposed in Ukraine on the advisability
of using therapeutically active ingredients of the hemp plant in the form of
various types of pharmaceutical preparations, consumers in economically
developed countries “vote with money” for other forms of using drug-free
cannabinoids, which, with similar preventive / healing effects, are many times
cheaper and more accessible . . That is why the attention of the editors of the
specialized electronic publication of national cannabis growers was attracted
by a study concerning the results of sales of non-narcotic cannabinoids in the
American market of food, beverages, various supplements, body care products,
and pet products.
Despite a 15% decrease in total sales compared to 2021,
plant-based cannabidiol (CBD) was among the top 25 best-selling ingredients in
the US natural supplement segment last year, according to SPINS, with sales of
$34. SPINS notes that in the Pain & Inflammation category, plant-based CBD
sales are down 23% in 2022, but this drug-free cannabinoid continues to be one
of the best-selling natural ingredients in this market segment.
Attention is focused on the fact that despite the signs of
growth stabilization observed everywhere on the cannabinoid market (primarily
for food products containing vegetable cannabidiol), natural CBD showed a sales
growth of 40% in the category of nutritional supplements, by 11% in the
biologically active segment. active additives contributing to the normalization
of sleep and 6% in the field of improving the general well-being and mood of
customers. It is noted that sales of goods containing drug-free cannabinoids
have grown in categories such as body care, pets and beverages.
It is clear that there is still a need for plant-derived cannabidiol
in the US market , and consumers want to buy food and various supplements that
contain natural cannabidiol. On top of that, there is a growing market for
“minor” cannabinoids derived from the hemp plant, in which CBD is the unrivaled
leader.
Commentary of the specialists of the
Association “Ukrainian Industrial Hemp”
SPINS, based in Chicago, specializes in data analysis and
industry research on the natural products market, which in the United States
reached $137 billion in 2023.
The materials of our American colleagues testify to several
trends that representatives of the hemp market in Ukraine need to understand:
- after several years of triple-digit growth in the US
market for vegetable cannabidiol used for industrial purposes, its
stabilization has been observed since 2022 ;
- at the moment in the US market the most popular drug-free
the cannabinoid is the plant cannabidiol;
- there is an increase in the market for “minor”
cannabinoids derived from the hemp plant;
- in the USA, such segments of the hemp business exploiting the therapeutic properties of the plant as food, drinks, various supplements, body care products, as well as pet products are actively developing.
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