Cannabidiol (CBD) oil is a natural extract derived from the cannabis plant. Unlike tetrahydrocannabinol (THC), CBD does not produce psychoactive effects or the “high” typically associated with cannabis use.
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The global Cannabidiol (CBD) Oil Market size was worth around USD 580 million in 2022 and is projected to reach USD 6.77 billion by 2032 at a CAGR of around 31.2% between 2023 and 2032.
Cannabidiol (CBD) is a non-psychoactive compound extracted from the hemp or cannabis plant. It has various therapeutic properties, including the ability to prevent seizures, treat anxiety, and reduce pain and inflammation. The market for CBD products is gaining momentum due to the increased utilization of CBD oil in the pharmaceutical industry, cosmetics, and food. The demand for CBD in the health and wellness sector has risen substantially due to its properties that aid in the healing process. Many governments are now allowing the use of CBDs in the pharmaceutical industry, which is driving an increase in demand. More than 50% of consumers have reported the effectiveness of CBD oil.
The United States is among the leading countries in the development of the pharmaceutical and cosmetic use of CBD oils. European countries such as Germany, the United Kingdom and Switzerland are also expected to make significant progress in the market. However, compared to the US, only 20% of European consumers have preferred CBD oil in the last couple of years, but year-on-year data shows an upward trend towards the consideration of CBD oil as a product.
Key Players in the Global Market to Focus on Expanding their Customer Base
Prominent Companies to Establish Various Corporate Strategies to Aid in Global Expansion. These players are focusing on strategic collaborations and partnerships to expand their market presence and strengthen their product portfolio.
Major Players Driving the Growth of the CBD Oil Market:
- Cannoid, LLC
- Elixinol
- ENDOCA
- Folium Biosciences
- ISODIOL INTERNATIONAL, INC.
- Medical Marijuana, Inc.
- Pharmahemp d.o.o.
- SEPHORA USA, INC.
- Ulta Beauty, Inc.
SEGMENTATION
By Type
- Hemp
- Marijuana
By End-Use
- Chronic Pain
- Mental Disorders
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By Region
- North America
- Europe
- Asia Pacific
- The Middle East & Africa
- South America
Why Purchase the Report?
- The report includes information such as market dynamics scenario, opportunities and challenges during the forecast period
- Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
- Regional, sub-regional, and country-level data include the demand and supply forces along with their influence on the market.
- The competitive landscape comprises a share of key players, offering products, relevant financial information, recent developments, SWOT analysis, and strategies.
- Understand the current market scenario and viability of the global market over the forecast period.
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Some of the key questions answered in this report:
- What can we estimate about the anticipated growth rates and also the global Cannabidiol (CBD) Oil industry size by 2032?
- What will happen in the coming existing and emerging markets?
- What will the market development pace of market?
- Which are the five top players in Cannabidiol (CBD) Oil market?
- How will the Cannabidiol (CBD) Oil market change in the upcoming years?
TABLE OF CONTENTS-
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Cannabidiol (CBD) Oil Market
Chapter 5. Global Cannabidiol (CBD) Oil Overview, By Disease Type, 2017 – 2030(USD Million)
Chapter 6. Global Cannabidiol (CBD) Oil Overview, By Type, 2017 – 2030(USD Million)
———Continued
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Recent Developments:-
In January 2021:
- An agreement was signed to acquire 220kgs of high-potency dried cannabis flowers from a licensed producer from Canada and to acquire 1000kgs of CBD biomass from a cultivator from Western Canada to level up THC extracts.
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