CBD Oil Market Highlights

The CBD Oil Market is estimated to be valued at USD 3782.32 Million by 2024 and expected to grow at a CAGR of 38.45% during the forecast period. CBD is a cannabinoid found in the cannabis plant. CBD oil acts as a natural pain reliever, have anti-inflammatory properties and could reduce epileptic seizures, etc.

From the past few years, the market for CBD oil had been increasing owing to rising legalization of cannabis and growing R&D in the field. Following the same, it is noted that new market players have been emerging in the market owing to the rising demand for CBD oil.

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CBD Oil Market Analyzed By Top Players

Market Research Future (MRFR) recognizes the following companies as the key players in the global CBD oil market that includes 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), and others.

CBD Oil Market Segment Analysis

Global CBD oil market has been segmented on the basis of type, and application. On the basis of type, the market has been divided into hemp-derived and marijuana-derived types. The Hemp-derived CBD oil type is holding the major share of the overall CBD oil market. It has been estimated that the hemp-derived segment is growing at the highest CAGR to reach USD 2,092.97 Million by the end of 2024. Most of the legal CBD-based products in the market are hemp-based. According to the 2018 Farm Bill, companies can legally grow, manufacture, possess, and sell hemp-derived CBD products.  

Based on application, the global CBD oil market is segmented into pharmaceuticals, food, cosmetics, and others. Among these segments, the cosmetic industry accounts for the largest market share owing to the anti-inflammatory and non-psychoactive properties of CBD. Moreover, CBD infused beauty products are a major trend these days. For instance, Folium Biosciences, the US-based cannabinoid producer, offers cosmeceuticals which include CBD infused moisturizing relief cream.

Global CBD Oil Market, by Region

• North America
  • US
  • Canada

• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America

• Europe
  • Germany
  • Russia
  • France
  • Italy
  • UK
  • Rest of Europe

• Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia-Pacific

• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

• Middle East & Africa
  • Saudi Arabia
  • Turkey
  • UAE
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

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 Key Findings of the Study:

• Global CBD oil market is projected to reach 32 Million by 2024 with 38.45% CAGR during the review period of 2019 to 2024

• The Americas accounted for the largest share due to the increasing consumption of cannabis-based products along with rising legalization of cannabis in the region

• The hemp-derived CBD oil segment, by type, is projected to reach USD 2,092.97 million by the end of 2024

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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