LONDON, UK, June 21, 2021 (GLOBE NEWSWIRE) -- The Mexico CBD market in terms of revenue was worth of USD 9.22 Million in 2020 and is expected to reach USD 675.48 Million in 2027, growing at a CAGR of 82.59% from 2021 to 2027. The Mexico CBD Market is expected to grow at a significant growth rate due to number of driving factors.
CBD is commonly used to address anxiety, and for patients who suffer through the misery of insomnia, studies suggest that CBD may help with both falling asleep and staying asleep. In addition, CBD may offer an option for treating different types of chronic pain. A study from the European Journal of Pain showed, using an animal model, CBD applied on the skin could help lower pain and inflammation due to arthritis. Another study demonstrated the mechanism by which CBD inhibits inflammatory and neuropathic pain, two of the most difficult types of chronic pain to treat. More study in humans is needed in this area to substantiate the claims of CBD proponents about pain control. It is also used in many other industries such as cosmetics and textiles. CBD has been introduced in Ayurveda with many properties.
Mexico CBD Market: Market Player Analysis
- HempMeds Mexico
- CBD LIFE SA DE CV.
- CBD Science
- NuLeaf Naturals, LLC
- ELITE CBD MEXICO
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The several factors are contributing to drive the growth of Mexico CBD Market which comprises growing acceptance of cannabidiol (CBD) among the users, increasing adoption of hemp-derived products, abundant utility of CBD in the pharmaceutical sector and increasing demand for CBD in cosmetic and personal care application. In addition, high prevalence of cancer, and other diseases is also supplementing the market growth. Growing acceptance and production of cannabidiol (CBD) products is one of the major factors contributing the growth of CBD market in Mexico among users and key players. The tremendous benefits of CBD are contributing to increasing acceptance and production of CBD. For instance, the CBD Life Hot balm had manufactured by CBD LIFE SA DE CV company which works great for constant use and give thermal benefit. HempMeds Mexico produced RH Oil which is made with use 100% pure cannabidiol from hemp. Mexico had imported and sold the 38 cannabis products, containing food items, food supplements, cosmetics, and raw hemp oil. In addition, rising adoption of medical marijuana for the treatment of chronic conditions such as neurological diseases, cancer, and chronic pain is a key factor anticipated to drive the market. For instance, according to the World Health Organization 2018, nearly 190,667 new patients were suffered from cancer in Mexico. Several research studies have demonstrated the prospective benefits of marijuana in the treatment of cancer. The CBD plays an important role in treatment of cancer and other medical application. Furthermore, increasing legalization and approvals for cannabidiol to use in various products is creating an ample opportunity for CBD Market in Mexico. However, limited approval from the authorities and high level of monitoring may hamper the growth of CBD market in Mexico.
The source segment of the Mexico CBD market is dominated by Hemp with the largest market share of XX.XX% in 2020. The form segment of the Mexico CBD market is dominated by distillate drive with the largest market share of XX.XX% in 2020. The grade segment of the Mexico CBD market is dominated by therapeutic with the largest market share of XX.XX% in 2020. The application segment of the Mexico CBD market is dominated by food & beverage with the largest market share of 37.91% in 2020.
Is cbd legal in Mexico ?
Mexico is trying to regulate and legalize Cannabis production for industrial, medical, and recreational purposes. Ownership and supply chains are tightly controlled, and the main ones involved in domestic and international trade around cannabis. Also, with Mexico having a well-documented history of cannabis use, Mexico hopes to become a major power in the global cannabis industry in other Latin American countries and face the culturally and historically illegal consequences of cartels and criminal activities surrounding the plant. The government has taken steps to adopt CBD, for example, the majority of the population can easily get cannabis CBD at the right price. In 2017, the Mexican government legalized the cultivation, production, and use of less than 1% tetrahydrocannabinol (THC) cannabis. This specific law passed by the government gave people the freedom to use CBD products in their daily lives. This has led to further growth in this market. For example; on March 10th, 2021, Mexico’s Chamber of Deputies legalized production of cannabis for industrial, medical, and recreational purposes. The law now returns to the Mexican Senate that needs to approve the modifications, which it likely will; and then Mexico’s President Andrés Manuel López Obrador needs to sign the bill into law.
The study provides a crucial view of the Mexico CBD Market by segmenting the market based on source, form, grade, and application. Based upon the source, Mexico CBD market is segmented into Hemp and Marijuana. Based upon form, the Mexico CBD market is segmented into process oil, distillate, and isolate. Based upon the grade, Mexico CBD market is segmented into food and therapeutic. Based upon the application, Mexico CBD market is classified into food & beverage, cosmetics & personal care, pharmaceuticals, and other.
The Mexico CBD market research reports segments as follows:
Mexico CBD Market: By Source
Mexico CBD Market: By Form
- Process Oil
Mexico CBD Market: By Grade
Mexico CBD Market: By Application
- Food & Beverage
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Market Trends Mexican CBD Market
CBD (cannabidiol) is extracted from the hemp plant's flowers. CBD is used to make a wide variety of ingestible CBD products as well as topical skin & body care products. It is a natural compound known as a cannabinoid found throughout the Hemp plant. CBD is used for preventing and treating numerous health conditions including Parkinson’s disease, rheumatoid arthritis, Alzheimer’s disease, multiple sclerosis, Crohn’s disease and Huntington’s disease. Also, CBD is observed to have significant therapeutic value for seizures on account of epilepsy and relevant conditions. For instance; clinical trials led on CBD have represented its effectiveness in treatment of various forms of epilepsy. CBD is used in a broader range of product varieties that many other supplements on the market in Mexico. CBD is widely used in various industries such as food & beverage, cosmetics & personal care and pharmaceuticals. Moreover, increasing adoption of hemp-derived products and growing acceptance of cannabidiol (CBD) among the users relating its innumerable health benefits, the presence of major manufacturers, growing awareness about CBD due to its non-psychoactive properties and positive government policies in Mexico that contributed to drive the Mexico CBD market in forecast period.
Some of the major trends of Mexicon CBD market are as follows:
RH OIL: It has the highest concentration of cannabidiol and the very popular in the market. It is Ideal for people who need a highly concentrated intake in their daily use. It contains 100% pure cannabidiol from hemp and without traces of tetrahydrocannabinol. It is the most recommended product by Health Professionals in Mexico.
Hot balm: Hot Balm is an effective combination of natural ingredients, such as eucalyptus and apricot oil, which, together with CBD isolate (cannabidiol). It is ideal to achieve a sensation of heat. It works great for constant use, in lifestyles that can't be slowed down, getting a thermal benefit.
Awaken – M: It is the first massage oil formulated with CBD, kava extract and aromatic and botanical oils. It is made up from 8 plant-based aphrodisiacs. It contains totally natural and organic ingredients. Awaken – M is 100% THC free. It is examined by an independent certified laboratory to verify the purity of the product.
CBD Lip Balm: It contains 125 mg of CBD along with a blend of beeswax, sweet almond oil, vitamin E and shea butter.
CBD Capsules: It is among the most convenient ways to get daily dose of CBD. It contain 30 mg of hemp-derived CBD in a smooth gelatin shell for a perfectly measure doses.
Full Spectrum CBD Balm: CBD balm is made with two simple ingredients; organic shea butter and highly concentrated full spectrum hemp extract. Lab tested to ensure purity, our unscented CBD balm absorbs quickly to relieve discomfort.
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Fresh Lime Organic CBD Tincture: It is made up by using four premium ingredients with both taste and efficacy in mind. This USDA Certified Organic CBD oil tincture contains a variety of phytonutrients including flavonoids, terpenes, and minor cannabinoids that work together synergistically to promote wellness and balance throughout the body and mind.
CBD Gummies: CBD gummies are very popular. It is tasty, convenient and fun to take. Gummies are a reliable option for anyone. It is made up of natural ingredients. CBD Gummies contain 10mg of CBD each and other clean ingredients like organic cane sugar and organic tapioca syrup. It is gluten free, vegan and 0.0% THC. It is available in different flavours such as green apple and strawberry lemonade flavours. These gummies are the tastiest CBD gummies around nationwide.
CBD Cream: It is used for to nourish dry, itchy skin and also best CBD-infused experience for whole body. Each product filled with 250mg of CBD in each one-ounce container of CBD Cream. It is a premium lotion that packaged in a convenient pump bottle with a snap-on lid.
CBD BATH BOMB DUO: It is a unique combination of CBD plus peppermint lemon and Peppermint/lemon tree oil. These CBD bath bombs bring a spa-style experience into home.
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