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
Market Analysis
The global CBD Oil Market Size is predicted to touch USD 3782.32 million at a 38.45% CAGR between
2015-2023, reveals the latest Market Research Future (MRFR) report. CBD or cannabidiol
oil, simply put, is a natural botanical concentrate that is high in CBD. This
oil is made by CBD from the cannabis plant and the same is diluted with a
carrier oil such as hemp seed or coconut oil. It helps to alleviate cancer
symptoms, acts as diabetes prevention, improves heart health, reduces acne, and
helps in pain management and stress relief.
Various factors are propelling the CBD
Oil Market Size growth. These factors, as per the new Market Research Future
(MRFR) report, include legalization of cannabis-based products, growing use of
marijuana for medical and recreational applications, increasing use of CBD oil
in nutritional supplements and body care products, and growing use of CBD oil
in vape, tincture, and spray. Additional factors propelling the CBD Oil Market
Size growth include the growing use of CBD oil in the food and beverage
industry, rising incidence of chronic diseases as well as related
complications, and increasing funding for cannabinoid research.
On the flip side, strict government
policies and adverse effects related to cannabis are factors that may deter the
CBD Oil Market Size growth over the forecast period.
Market Segmentation
The MRFR report provides an
all-inclusive segmental analysis of the CBD Oil Market Size on the basis of
type and application.
Based on type, the CBD Oil Market Size
is segmented into marijuana-derived and hemp-derived types. Of these, the
hemp-derived CBD oil segment will lead the market over the forecast period
owing to the varying concentration of THC in marijuana and hemp. Hemp has a low
concentration of THC while marijuana has THC in abundance, thus hemp is
utilized for industrial purposes, and marijuana is grown for medicinal and
recreational purposes.
Based on the application, the CBD Oil
Market Size is segmented into cosmetics, food, pharmaceuticals, and others. Of
these, the cosmetics segment will have the largest share in the market over the
forecast period. Extensive research on CBD and increased legalization are
increasing the application of CBD oil in cosmetics such as beauty products that
are infused with CBD oil as hemp-derived oils provide moisturization, is
anti-inflammatory, and helps to unclog pores.
Regional Analysis
By region, the CBD Oil Market Size
report covers the latest trends and growth opportunities across the Asia
Pacific, the Middle East and Africa, Europe, and the Americas. Of these, the
Americas will lead the market over the forecast period chiefly on account of
the growing consumption of cannabis-based products.
The CBD Oil Market Size in Europe is
predicted to have the second-largest share in the market over the forecast
period chiefly on account of increasing awareness regarding clinical
applications of cannabis. Russia, the UK, Germany, Italy, and France are the
chief contributors in the region.
The CBD Oil Market Size in the APAC
region is predicted to grow at the highest CAGR over the forecast period.
On the other hand, in the MEA, the CBD
Oil Market Size is predicted to have restricted growth owing to illegal usage
of marijuana, adverse effects related to cannabis, and strict government
policies.
Key Players
Major players profiled in the CBD Oil
Market Size report include Emblem Cannabis (Canada), NuLeaf Naturals (US),
Absolute Terps (US), Whistler Medical Marijuana Corporation (Canada),
Pharmahemp (Slovenia), HempLife Today (US), Kazmira LLC (US), Curaleaf
Holdings, Inc. (US), MedMen Enterprises Inc. (US), Aurora Cannabis (US), Canopy
Growth Corporation (US), Medical Marijuana, Inc. (US), CV Sciences, Inc. (US),
CBD American Shaman (US), ENDOCA (Netherlands), Charlotte's Web Holdings, Inc.
(US), Green Roads of Florida, LLC (US), Freedom Leaf, Inc. (US), Folium
Biosciences (US), and Aphria Inc. (Canada). Key players have used strategies
such as mergers and acquisitions, partnerships, and expansions to create a
niche in the market.
Industry News
October 2019: Marine Corps veteran has
recently launched a CBD oil shop in Centerville. This store will sell SunMed
products, including CBD (cannabidiol) oils, edibles, creams, skincare, and
capsules, and offer products both for people and pets.
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