Global CBD Oil Market Overview, High Growth Opportunities, Segmentation, Trends By 2022-2027
Research Reports
Apr 14, 2022
CBD Oil Market Overview:
CBD oil market has been gaining massive traction in the recent years owing to increased research activities in the field of cannabidiol or CBD that have come to indicate that the product can prove to be beneficial in easing the symptoms of a number of ailments. Therefore, CBD oil has come to be used in a plethora of bodily applications ranging from pain management to anxiety relief to a sleep aid. CBD oil market has therefore grown at a prolific rate and has come to be marketed in a variety of forms that include topical ointments, capsules, infused honey etc. Medically prescribed CBD oil has been legalized in many regions of the world.
As the world awaits the legalization of recreational cannabis, participants in the CBD oil market are striving establish themselves to the consumers as the most reliable names acquiring shelf space and enhancing retail relations. These companies are most likely to make the largest profits when cannabis is legalized as they will already have a strong premise to launch their cannabis business and consumers who will come to buy recreational cannabis would prefer the same brand they rely on for the CBD oil.
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CBD Oil Market Top Companies:
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)
HempLife Today (US)
Pharmahemp (Slovenia)
Whistler Medical Marijuana Corporation (Canada)
Absolute Terps (US)
NuLeaf Naturals (US)
Emblem Cannabis (Canada)
CBD Oil Market Segmental Analysis:
The CBD oil market is segmented on the basis of type which includes hemp-derived CBD oil and marijuana-derived CBD oil.
Hemp-derived CBD oil market is expected to register the highest CAGR and a market size of USD 2,092.97 million by 2024. Hemp derived CBD oil market has apparently gained greater traction when compared to marijuana-derived CBD oil due to the lower concentration of tetrahydrocannabinol (THC) in the former. While THC concentration in hemp derived CBD is 0.3%, marijuana-derived CBD contains 15% to 40% of THC. 0.3% THC is the permitted concentration of the compound as this renders the formula non-addictive and therefore hemp derived CBD is legal in most states in the U.S. as well as most parts of the world.
By application, CBD oil market is divided into cosmetics, food, pharmaceuticals and others. The cosmetics CBD oil industry is anticipated to witness a massive CAGR of 38.80% over the analysis period. Various cosmetic products are being infused with hemp-derived oils as the benefits of hemp oil are hailed in the beauty industry for its anti-inflammatory and moisturizing characteristics.
CBD Oil Market Regional Overview:
CBD oil market comprises four regional categories namely Americas, Europe, Asia Pacific and MEA. Owing to increased demand for CBD oil based products, the CBD oil market is slated to accrue a significant portion of its revenue from the business in the Americas. The WHO estimates that 22.2 million Americans use CBD oil and related products for various reasons.
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