Cannabidiol Market Research Report - Global Forecast till 2030

Cannabidiol Market Research Report - Global Forecast till 2030

ID: MRFR/HC/6618-CR | | Region: Global | 104 pages

Unique Formulation of CBD is Being Tested for its Efficacy in Treating Viral Infections, including COVID-19.

The CBD terpene formulation is exclusively dedicated to the treatment and prevention of viral infections. It is precisely designed for high-risk populations and the prevention of infections such as the COVID-19 novel strain of coronavirus. In previous research projects that were undertaken since the outbreak of the SARS virus in 2002, CBD terpenes are effective antiviral agents and specific terpenes that came into contact with the SARS virus were found to decrease its severity and influence (both in-vitro and in-vivo) by withholding a certain protein that replicates the RNA. This prevents it from penetrating healthy cells and using them as hosts for its replication.

The novel formulation is intended to be consumed by direct inhalation. For instance, the Chairman of CannaSoul, Professor Dedi Meiri of the Israel Institute of Technology, said: “Our lab has been permitted to operate as a corona lab, and in doing so, we are encouraging two studies based on existing cannabis studies.

First, we will try to detect the plant’s molecules that are capable of overpowering the immune response to the COVID-19 pandemic, which causes inflammation and severe disease to lower the immune system response without suppressing it, thereby providing better corresponding treatment to the steroids, which completely suppress the immune system.

The second study is looking at the ACE2 receptor, which allows the virus to inject its genetic expression into human cells and proliferate. Moreover, as per Eybna’s CEO, Nadav Eyal, “This type of delivery method is a game-changer, empowering us to achieve therapeutic qualities from these unique phytochemicals like never before.”

How is COVID-19 Affecting the CBD Industry?

As the spread of COVID-19 has ramped up, many stores are shutting down. The industry is seeing an e-commerce sales spike amongst some of the largest CBD companies. This is a motivating shift, as many brands have worked hard to get on the shelves of mass retailers in the past year. However, those that are best placed for success through the COVID-19 crisis are those who have a robust Direct-to-Consumer strategy.

A recent research study indicates the CBD industry can expect improved consumption, particularly amongst regular users, which is an indication of how the market could fare over the next weeks and months to come. Moreover, in a study of CBD consumers, 39% indicated they expected to use more CBD during the COVID-19 crisis. This is predominantly true amongst Millennials and Gen Z consumers, as 49% plan on using more CBD in the coming weeks and months.

Nevertheless, while CBD usage may endure through the crisis, many brands will be excessively affected. The industry was already suffering from overcrowding (tracking more than 3,500 brands in early 2020) and inadequate access to capital, which was making it very difficult for many brands to continue operating before the crisis. Many brands have lost tens of thousands of dollars in trade shows that have been cancelled, putting them in a weak position during the COVID-19 crisis. Many small brands rely on small or local retailers to distribute a bulk of their products. Currently, the mass shuttering of retailers is likely to deal a death blow to many of the smaller brands in the market. This could work in favour of many of the bigger brands, who are better positioned to weather the storm and will be able to support a robust e-commerce strategy. If CBD brands can survive the next few months, they could compete in a much less crowded field once the crisis stabilizes.