CBD Oil (Cannabidiol Oil) Market: Information By Type (Hemp-Derived & Marijuana-Derived), By Application (Cosmetics Industry, Food Industry, Pharmaceuticals Industry & Others) - Forecast 2027

ID: VPR/CO/1074 Publishing Year: January 2022 Pages: 116 Format:   


CBD Oil (Cannabidiol Oil) Market Overview:

Because it has no psychoactive effects, Cannabidiolis the most widely used cannabinoid for therapeutic purposes out of all the cannabinoids. Cannabidiol oil is used in a variety of medical applications, including the treatment of anxiety and depression, stress relief, diabetes prevention, pain relief, cancer symptom relief, and the reduction of inflammation. The Global Cannabidiol Market is expected to grow at a lucrative rate over the forecast period, owing to the increasing use of CBD-based products to treat various ailments.

As people become more aware of the therapeutic benefits of Cannabidiol, they have been more likely to purchase Cannabidiolproducts, regardless of their cost. Commercial retailers are now concentrating their efforts on selling cannabis-based products because they have a higher profit margin. Rite Aid, CVS Health, and Walgreens Boots Alliance are just a few of the health and wellness retailers that are now carrying CBD-based products on their shelves. Additionally, CVS Health has decided to offer CBD topicals throughout its 800 stores, and Walgreens Boots Alliance has decided to sell CBD-containing topicals throughout its 1500 stores in the United States.

Key Players:

  • 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)

Market Drivers:

Numerous private and government organisations are increasing their research and development efforts, as well as their financial support for cannabinoid research. The discovery and production of cannabinoids for medicinal purposes is supported by both private and public sector organisations and organisations. Cannabis has a wide range of medicinal properties that can be used to treat a variety of diseases. It is anticipated that this will drive its production over the course of the evaluation period.

The demand for cannabis oil (CBD) for medicinal and health purposes is high due to its curative properties, which is the primary factor driving the market's development. Additionally, increasing product acceptance and usage, as a result of regulatory approvals, is expected to be a significant factor in the growth of the market for goods infused with cannabis oil. Furthermore, as people become more aware of the medicinal benefits of cannabis oil, they are more likely to purchase CBD-based products, regardless of how much they cost.

Opportunities:

Cannabis Oil has risen to become the new consumer trend as a result of the increasing number of social media influencers who are endorsing the benefits of cannabis, awareness campaigns from industry participants, and the increasing number of application areas. A growing number of products, such as skincare, makeup, haircare, intimate lubricants, pharmaceuticals, chewables and tablets, flavoured drinks and other items are being added to the food portfolio as a result of this expansion. Plant-based medicine has made significant strides in recent years, thanks to a number of factors. Furthermore, the demand for minimally manufactured and chemical-free medications has created a lucrative opportunity for the studied market to grow in terms of revenue and size.

Market Segmentation:

The global CBD Oil Market is segmented based on the type of CBD oil used, the product type used, the product category used, the application used, and the distribution channel used. The growth among segments assists you in identifying niche pockets of growth and market entry strategies, as well as identifying your core application areas and the differences between your target markets.

The global CBD Oil Market is segmented into four types: THC dominant, CBD dominant, marijuana based, and hemp based. THC dominant CBD dominant marijuana based Because of the increased use of CBD in the medical and pharmaceutical industries, CBD will continue to dominate the market in 2020.

The global CBD Oil Market is segmented into two types of products based on the type of CBD oil used: original and blended. In 2020, the blended segment will dominate the market as a result of increased use of CBD and the ability to customise the product to meet the specific needs of the end consumer.

The global CBD Oil Market is segmented into two types of products: those that are unflavored and those that are flavoured. Increasing use of unflavored for the recreation of a new product will lead to an increase in the market share of unflavored by 2020, according to industry forecasts.

Regional Analysis:

Because of the establishment of hemp-producing plants, particularly in China, the market in Asia Pacific is expected to grow at the fastest rate over the forecast period. China is the most important hemp producer in Asia, accounting for nearly half of all hemp produced worldwide. The country exports approximately 90 percent of its products to the United States, Germany, the United Kingdom, the Netherlands, and Japan, and has begun cultivating hemp in three provinces for the purpose of cannabidiol extraction and extraction of Cannabinoids. The newly discovered government policies supporting the industry, the lowest Cannabidiol production costs, and the industry's unique large-scale manufacturing infrastructure and expertise are expected to create fierce competition for hemp companies in the United States, Canada, and the European Union that provide low-cost CBD products.

Covid-19 Impact:

The recent COVID-19 pandemic has had a significant impact on a variety of industries around the world, including the hemp and CBD industries. The impact of COVID-19 has resulted in production processes being disrupted, and as a result of strict quarantine measures being implemented around the world, there has been a stagnation in the supply of products, including CBD products. Furthermore, as a result of the pandemic, the majority of retail establishments are currently closed. The marketplace may therefore experience a slowdown during the pandemic, but it is expected to gain momentum in 2021 as a result of the anticipated increase in demand for CBD-based products in the coming years.

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