Economic downturn, social pressure gradually increased, with the prevalence of infectious diseases and various chronic diseases (such as diabetes, cancer, etc.) rising, as well as young people sleep disorders and depression, the global demand for CBD oil is growing.
With the deepening of scientific research and medical application, more and more people have realized the special value of CBD, which is confirmed by the popularity of the concept of "industrial hemp" in China. But the economic impact of industrial hemp has long gone beyond the conceptual stage. In Europe and the United States, a wide variety of CBD-related products have emerged, especially CBD oil, which is the most popular. Under the premise of global integration, this wave has also spread to China and started a wave of purchasing frenzy on the Internet.
The full name of CBD in English is CANNABidiol (Translated as cannabidiol or Cannabidiol in Chinese). In China, it is usually referred to as "DMCBD" for easy industry differentiation. It is a pure natural ingredient extracted from the cannabis plant. Due to its special effects and oil-soluble properties, CBD oil has become a popular online consumer product in just two years. Currently DMCBD oil penetration in the e-commerce site has been improved, more and more research has shown that CBD oil has many benefits to people's health, such as ease pain, relieve anxiety and depression, reduce the symptoms associated with cancer, reduce acne, improve heart health and nerve protection, this has led to an increased global demand for oil of CBD, At the same time, the technological progress of the major CBD oil manufacturers around the world is also increasingly obvious, which together drives the growth of the CBD oil market.
North America is popular, the Asia-Pacific region grows rapidly
The NORTH American CBD oil market is globally dominant, followed by the European market, due to the increased incidence of neuralgia in the region and the increasing number of patients with chronic diseases in countries such as Canada, the United States, France, Italy, the United Kingdom and Germany. In addition, an aging population and increased healthcare spending are expected to drive market growth in North America and Europe.
As for the Asia Pacific region, the market is also expected to show significant growth due to rising per capita income and chronic disease incidence in countries such as Japan and China/India.
Since the passage of the 2018 FARM bill, CBD oil (which translates as mappo) has quickly become a hot topic of discussion in the United States, with studies finding that consumers are increasingly using it as an alternative to prescription and over-the-counter drugs. A National Consumer Reports survey of more than 4,000 CBD users in January 2019 revealed that nearly a quarter were using CBD instead of prescription or over-the-counter medications, including opioids, anti-anxiety medications and sleep AIDS.
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About half stopped taking the drug after taking CBD, and 30 percent used it as an adjunct to regular medications. Another 22 percent of consumers have completely replaced medication with CBD. Among them, there is a difference in the use of CBD products between young people and middle-aged and old people. Young people are more likely to use CBD to relieve stress and anxiety (32% for young people, 12% for the elderly), while middle-aged and old people are more likely to use CBD to relieve joint pain (42% for middle-aged and old people, 15% for young people).
Domestic market is in initial chaotic stage
In China, many people have also realized the benefits of CBD oil. However, at present, there are few domestic products and the market is not fully mature. Chinese people who have demand are more likely to use e-commerce for overseas shopping and purchasing, but there are major hidden dangers in this.
Because the situation is that overseas it is difficult to define the quality of product, countries and regions in the legalization of marijuana, anyone can produce CBD oil, over a long period of time and work around to get to the home, it is difficult to confirm product quality, product channels is more difficult to trace, the reality of the asymmetric information brings consumer concerns.
From waiting to see to wanting to do something
Good news is home market began to appear the person that the first batch preempts layout, if ma Bao sincere feeling DMCBD oil is one of them delegate, these enterprises pass the research exploration of long time, contrast overseas especially the industrial development path of the United States, invest heavy gold to contend for race track. Compared with overseas legalized countries, the strict supervision and careful examination and approval policies of the upstream in China have slowed down the development of the entire industry, but from another perspective, they have guaranteed the industry standards and product quality. At present, in the field of DMCBD related products in China, there are very few enterprises that have obtained product production and operation qualifications, and they are the best among the best. The domestic strict control of this field not only lies in the property of industrial hemp, but also sees the application prospect and explosive potential of industrial hemp industry. This is not only a responsible attitude towards consumers, but also a necessary requirement for industrial upgrading, high-quality development and support for emerging industries.
To sum up, domestic consumers should not blindly pursue "foreign brands", because industrial hemp is still in the development stage in the global field, and the standards and requirements in the industry have not been unified. On the other hand, domestic brands are more trustworthy because of their cautious and strict policies. At the same time, China is also a big country of industrial hemp cultivation and production, but in the past, raw materials were mainly exported. Now, with the policy liberalization, terminal consumer products have been introduced to consumers, and its channel advantages have brought better cost performance. We believe that with the further improvement of consumer cognition and the popularization of CBD product knowledge, high-quality domestic CBD product brands are bound to usher in a new wave of development dividend period, and the prospect of DMCBD is worth looking forward to.