Cannabidiol Oil Market to achieve CAGR of 19% from 2023 to 2032, owing to rising awareness of health benefits of cannabidiol (CBD) | insightSLICE
By 2021, the global market for Cannabidiol Oil was valued at US$ 6.3 billion and is anticipated to grow at a 19% CAGR through 2032.
The study on the global cannabidiol oil market will provide an in-depth examination of the market’s shares, patterns, and projections. 2020 is regarded as the historic period in this analysis, while 2021 serves as the foundation year for the forecast period of 2022 through 2032.
The research also considers the competition environment and offers market forecasts and company profiles for the top competitors in the worldwide cannabidiol oil market.
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This report will also cover key advancements, global and regional sales networks, corporate strategies, R&D activities, the total number of employees, and CEO profiles for all the major competitors participating in the market.
The key players of the Global Cannabidiol Oil Market are:
There are several regional and international participants in the highly competitive cannabidiol oil market. Companies are emphasizing implementing different sustainable growth techniques to get a strategic advantage.
Some of the well-known companies operating in the global cannabidiol oil market are Aurora Cannabis, Folium Biosciences, Absolute Terps, Emblem Cannabis, Aphria Inc., NuLeaf Naturals, Whistler Medical Marijuana Corporation, Freedom Leaf, Inc., LLC, Pharmahemp, Charlotte’s Web Holdings, Inc., HempLife Today, Green Roads of Florida, CBD American Shaman, Curaleaf Holdings, etc.
Increased adoption and friendly regulations will favor the growth of cannabidiol oil market:
Due to its therapeutic characteristics, cannabidiol oil is mostly used in the health, wellness, and medical industries. Cannabidiol oil, sometimes known as CBD, is widely used across large sections of treatments and therapies.
Numerous health advantages that CBD provides are predicted to fuel the expansion of the global market over the forecast period.
Because CBD has pain-relieving effects, it can be used to treat chronic pain by interacting with neurotransmitters, lowering inflammation, and influencing the activation of endocannabinoid receptors. Additionally, it can lessen anxiety and despair in patients with depression and anxiety.
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According to a WHO report, depression is among the main causes of the rising number of disability cases, and Anxiety is ranked sixth.
Additionally, cannabidiol oil has neuroprotective qualities, reduces acne, and promotes cardiovascular health. Furthermore, it is projected that government clearances in a number of countries, will boost product, adoption, and usage in the years to come.
Key statistical and forecast data is presented in our report:
The report offers a thorough analysis of significant players that dominate the majority of the cannabidiol oil industry worldwide. The analysis takes into consideration crucial competitive data from all the top cannabidiol oil companies, such as growth goals, brand portfolio, key developments, and projects for research and development.
The stakeholders involved in the distribution, supply chain, and promotion of CBD products, as well as their contributions, will be considered in the global cannabidiol oil market report. All of the products in the industry’s cannabidiol oil business sector would constitute the main focus of the product line segment of this report.
Similarly, to that, the portion of the current development will indeed concentrate on the most recent business achievements, such as global expansion, mergers and acquisitions, strategic partnerships and collaborations, and launches of new products in the cannabidiol oil market.
Global Cannabidiol Oil Market Key Segments:
By Source:
- Marijuana
- Hemp
By Distribution Channel:
- B2B
- B2C
- Retail Stores
- Online
- Hospital Pharmacies
By Application:
- Pharmaceuticals
- Personal Use
- Wellness
- Nutraceuticals
- Personal Care & Cosmetics
- Food & Beverages
- Others
- Medical
- Cancer
- Mental Disorder
- Chronic Pain
- Others
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Belgium
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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All major regions will see increased usage of CBD oil and enhance market growth:
In terms of the regional revenue, North America is expected to be the dominant area, while Asia Pacific is expected to see the highest CAGR throughout the projection period. One of the major hemp producers in the world, China accounts for around 50% of all hemp output worldwide.
More than 90% of China’s production is exported to countries like Japan, the Netherlands, the United Kingdom, Germany, and the United States. This is expected to accelerate the growth of the cannabidiol oil industry in Asia and the Pacific.
In addition, a growing number of American nations are projected to support regional market growth by approving cannabis usage for medical purposes. Another important element for the expansion of the region is the adoption of the Farm Bill in the United States, which permits cannabidiol oil derived from hemp.
Middle East & African markets are also anticipated to increase significantly during the predicted period. The South American market for cannabidiol oil is expected to expand slowly in contrast to the global average.
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