Canadian hemp nutraceutical market

In the first year after the introduction of a new approach to regulating the market for CBD products, it will amount to about $ 1.88 billion.The market is expected to grow at an average annual rate of 6.9% per year, reaching $ 2.45 billion by the fifth year. It is noted that nutraceuticals, drinks, as well as cosmetic preparations in total will account for about 70% of sales of the entire CBD market, and by 2023 the market for nutraceuticals alone in Canada will exceed $ 1 billion.

On the pages of the specialized electronic edition of Ukrainian cannabis growers, the “Trends in the growth of the global market for cannabis nutraceuticals” have already been partially analyzed on the basis of materials provided to the editorial office of one of the American consulting companies. For comments on the published information, the editors turned to the specialists of the information and analytical platform Hemp Consulting. Agreeing with the general conclusions made in the previously published editorial materials, we were provided for use with data prepared on the above topics by research organizations in Canada and the United States. In connection with the previously reached agreement, the data provided by Hemp Consulting specialists are published without any changes / additions by the editorial staff. 

Market for consumption of CBD products

Regarding the assessment of the CBD market in Canada, we would recommend to carefully study the report prepared by the specialists of the University of Ottawa, who claim that in the first year after the introduction of a new approach to regulating the CBD products market, it will amount to about $ 1.88 billion. The market is expected to grow at an average annual rate of 6.9% per annum, reaching $ 2.45 billion by the fifth year.

Dynamics of growth of the CBD market in Canada

Canadian materials indicate consumer preference for certain types of CBD products seen in both the US and Canada. It is noted that nutraceuticals, drinks, as well as cosmetic preparations together account for about 70% of the sales of the entire CBD market. According to the calculations of specialists from the University of Ottawa, it is expected that by 2023 the market volume of nutraceuticals in Canada alone will exceed $ 1 billion.

Commentary of the specialists of the Association "Ukrainian technical hemp"

The most detailed information on the trends in the global market for hemp nutriceptics, as well as an analysis of the markets for therapeutically active products based on the medicinal properties of the hemp plant in individual economically developed countries of the world will be provided for the listeners of the 6th stream of training of the Hemp University within the framework of the round table “ Problems and Prospects the use of therapeutically active elements of hemp as a basis for nutraceuticals, medicinal cosmetics, animal feed or other products with medicinal properties of the plant . "