Global Cannabis Market
The Global cannabis market is estimated to be valued at USD 20.5 billion in 2020 and is projected to reach USD 90.4 billion by 2026, recording a CAGR of 28%, in terms of value.
The market is primarily driven by factors such as growing medical applications of cannabis and increasing legalization of cannabis and rise in social acceptance of marijuana. North America accounted for the largest market share in the cannabis market, Other Country are taking notice, and or working to put together the frame work to increase and/or the legalization of cannabis for Cultivation, distribution, both medical and recreational purposes across the Globe.
What is Cannabidiol?
Cannabidiol (CBD) oil is a product that is derived from cannabis. It is a type of cannabinoid, which are the chemicals naturally found in marijuana plants. Even though it comes from marijuana plants, CBD does not create a “high” effect or any form of intoxication.
CBD is one of many cannabinoids (compounds) in the cannabis plant. influence other receptors, including opioid receptors that regulate pain and glycine receptors involved in the regulation of the “feel-good” hormone serotonin. Proponents lay claim that CBD oil can treat a wide variety of health problems.
What Is Hemp Oil?
Hemp seed oil is obtained from pressing the seeds of the cannabis plant (Cannabis sativa L.). Unrefined hemp seed oil is a dark greenish color with a mildly nutty aroma. Refined hemp seed oil is clear with little to no smell, but it doesn’t contain as many of the skin-health benefits.Hemp seed oil has become a very popular skincare ingredient. It’s also used in cooking.
Cannabis, Hemp, and Marijuana
Understanding the differences among cannabis, hemp, and marijuana can be confusing because marijuana and hemp all come from the same plant, Cannabis sativa. The distinction is the variety of the plant. Cannabis is the name of a family of plants. Hemp is a variety within this family, and marijuana is another variety in the family.