CBD
Oil (Cannabidiol Oil) Market: Information by Type (Hemp-Derived &
Marijuana-Derived), Application (Cosmetics Industry, Food Industry,
Pharmaceuticals Industry & Others) and Region (Americas, Europe,
Asia-Pacific and Middle East &Africa) - Global Forecast till 2024
Oil
made from Cannabidiol (CBD) is called CBD oil.
A new report on the global CBD oil market, published by Market Research Future
(MRFR), observes that this market could measure growth at 38.45% CAGR between
2018 and 2024. In terms of money value, the market can be worth USD 3782.32 Mn
by the end of the forecast period.
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.
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.
Regional Segmentation
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.
Key Players
Big
players in the global CBD oil market include Absolute Terps (USA), Aphria Inc.
(Canada), Aurora Cannabis (USA), Canopy Growth Corporation (USA), CBD American
Shaman (USA), Charlotte's Web Holdings Inc. (USA), Curaleaf Holdings Inc.
(USA), CV Sciences Inc. (USA), Emblem Cannabis (Canada), ENDOCA (Netherlands),
Folium Biosciences (USA), Freedom Leaf Inc. (USA), Green Roads of Florida LLC
(USA), HempLife Today (USA), Kazmira LLC (USA), Medical Marijuana Inc. (USA),
MedMen Enterprises Inc. (USA), NuLeaf Naturals (USA), Pharmahemp (Slovenia),
and Whistler Medical Marijuana Corporation (Canada).
Latest Industry News
·
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. 27 AUG 2019
Changes that affect juveniles and confidentiality (705 ILCS 405/5-125): Certain juvenile records associated with civil amounts of cannabis, including municipal ordinance violations, are now confidential. this is often important if you had prior ordinance violations while you were a juvenile. If those records are still shown in Circuit Clerk databases or accessible by the general public , clerks will got to immediately remove those public entries from the general public databases alternatively they might be found in violation of 705 ILCS 405/5-125.
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