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 Share, 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 Share 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 Share always faces a lot of
restrictions.
Market Segmentation
The
global CBD Oil Market Share 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 Share 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 Share has been segmented into
e-commerce websites, hospital pharmacies, medical marijuana dispensaries, and
retail pharmacies. By type, the CBD Oil Market Share has been segmented into
hemp-derived CBD oil and marijuana-derived CBD oil.
Regional Segmentation
A
geographical outlining of the global CBD Oil Market Share 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 Share 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
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