The CBD Oil Market is estimated to be valued at USD 3782.32 Million by 2024 and expected to grow at a CAGR of 38.45% during the forecast period. CBD is a cannabinoid found in the cannabis plant. CBD oil acts as a natural pain reliever, have anti-inflammatory properties and could reduce epileptic seizures, etc.
The most important market driver for the global CBD oil market growth is rising research funding for cannabinoid research. Legalization of CBD in many countries and the rising occurrence of chronic ailments, along with the complications related to them are also strengthening market growth. Due to rising demand, many new market players are emerging. However, stringent government policies regarding CBD use and the adverse effects associated with cannabis can hinder the market growth. Use of all products derived from cannabis is controversial. Although cannabis-based products include CBD oil have various benefits, the fact about cannabis being an illegal narcotic cannot be ignored. Hence, CBD oil market always faces a lot of restrictions.
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From the past few years, the market for CBD oil had been increasing owing to rising legalization of cannabis and growing R&D in the field. Following the same, it is noted that new market players have been emerging in the market owing to the rising demand for CBD oil.
Market Research Future (MRFR) recognizes the following companies as the key players in the global CBD oil market that includes
- Aphria Inc. (Canada),
- Folium Biosciences (US),
- Freedom Leaf, Inc. (US),
- Green Roads of Florida, LLC (US),
- Charlotte’s Web Holdings, Inc. (US),
- ENDOCA (Netherlands),
- CBD American Shaman (US),
- CV Sciences, Inc. (US),
- Medical Marijuana, Inc. (US),
- Canopy Growth Corporation (US),
- Aurora Cannabis (US),
- MedMen Enterprises Inc. (US),
- Curaleaf Holdings, Inc. (US),
- Kazmira LLC (US), and others
Latest CBD Oil Industry News
27 AUG 2019 Premium cannabis accessories sellers Greenlane Holdings Inc. has forged a partnership with Bouquet for exclusive US distribution of its full-spectrum CBD oil products That includes tinctures and capsules offering a variety of strengths. They are going to offer many other CBD and liquid nicotine products.
CBD Oil Market Segmentation
The global CBD oil market segmentation encompasses application, distribution channel, and type. MRFR’s take on the market surveys various facets of the market in-depth.
The application-based segmentation of this CBD oil market covers cosmetics industry, food industry, pharmaceuticals industry, and others. The cosmetic industry segment holds the largest market share due to the anti-inflammatory and non-psychoactive properties of CBD.
Regarding the distribution channel, the CBD oil market has been segmented into e-commerce websites, hospital pharmacies, medical marijuana dispensaries, and retail pharmacies. By type, the CBD oil market has been segmented into hemp-derived CBD oil and marijuana-derived CBD oil.
CBD Oil Market Regional Analysis
A geographical outlining of the global CBD oil market covers the Americas (North America & Latin America), Europe, Asia Pacific, and the Middle East & Africa (MEA).
The Americas dominate the global market due to the increasing consumption of cannabis-based products. North America alone holds the potential of being the largest regional market due to the availability of advanced medical facilities and technological advancement. Most of the major market players in this region are based in USA and Canada. However, a sizable contribution to the market comes from Latin America too. In Latin America, the revenue rises maximum in Argentina, Brazil, and Colombia.
Europe is the second-largest regional market due to the rising awareness about clinical applications of cannabis. The most powerful country-specific markets in Western Europe are France, Germany, Italy, Spain, and the UK.
Asia Pacific region can experience the highest growth during the forecast period due to rapid development in technology, high density of population, improving the healthcare sector. The remarkable country-specific markets in this region are Australia, China, India, Japan, and South Korea.
During the forecast period, the MEA region has been anticipated to witness restricted growth due to adverse effects associated with cannabis, stringent government policies, and the illegal use of marijuana. Some country-specific markets that are better than most of the markets are Egypt, Saudi Arabia, Turkey, and UAE.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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