CBD Oil Market

Global CBD Oil Market: Global Size, Trends, Competitive, And Historical& Forecast Analysis, 2022-2028: Increasing use of CBD oil for medical purposes, growing desire for CBD extract products such as tinctures and oils and increasing legalisation of CBD products derived from CBD are some of the major factors driving the growth of the CBD Oil Market.

Global CBD Oil Market is valued at USD 284.2 Million in 2021 and expected to reach USD 1,935.3 Million by 2028 with a CAGR of 31.5% over the forecast period.

Scope-

Cannabidiol oil, also known as CBD oil, is a key component of the cannabis plant. It is derived from the cannabis plant, a phylum member of the marijuana plant, with THC as the other active substance. Cannabidiol oil has emerged as a natural antioxidant of medical marijuana due to the positive results from laboratory tests and trials conducted by research institutes. According to WHO, CBD oil is free from side effects from CBD psychedelic misuse and user dependence signs. It is easy to obtain from the plant and process with butanol and ethanol solvent methodologies with low production costs; thus, it is an agricultural-intensive process with its own by-product booming market. This multi-beneficial promising component of CBD oil has prompted the establishment of cultivation and oil extraction labs throughout the United States, Canada, China, and the European Union, with raw materials exported from all over the world, including India. As new research reveals CBD oil to be a critical medical component for a variety of diseases, its use in naturopathic treatments has resulted in massive market growth.

The COVID-19 pandemic slowed the growth of the CBD oil market. As a result of the disease outbreak, many regions were experiencing lockdowns, causing havoc in the raw-materials supply chain, disrupting the manufacturing process, and affecting scarcity in the CBD oil market. Because of the benefits of CBD oil when combined with personal care products, the market is expanding. Manufacturers are processing and labelling pure extracts of CBD oil, which is used in high-end cosmetic products. Cosmetic products containing CBD oil, which have the ability to regenerate skin cells, repair sun damage, and relieve skin inflammation, are a significant factor in the rise in demand for CBD oil.

The significant public interest in exploring the benefits of CBD oil in day-to-day FMCG products such as peanut butter, soft drinks, beer, pet care, skincare, and beauty products has provided manufacturers with an opportunity to label CBD oil products and byproducts as premium products, which have owed a significant growth to CBD oil market. CBD oil is preferred by mainstream medical professionals as it offers an option for treating different types of chronic pains such as arthritis, lower back pain, and post-surgical pain, which will lead to the creation & expansion of new consumers and play a vital role in the growth of the CBD oil market.

The global CBD Oil Market is segmented based on the product type, application, end-use industry, and region & country level. Based on product type, the CBD Oil Market is segmented into hemp oil and marijuana oil. By application, the market is segmented into multiple sclerosis, depression and sleep disorders, neurological pain, and other applications. By end-use industry, the CBD Oil Market is segmented into pharmaceutical, food & beverages, cosmetics, and others. Food & beverages are further segmented into gummies, chewing gums, chocolate bars, candies, beverages, dairy products, bakery products, and snacks.

The regions covered in the global CBD Oil Market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global CBD Oil is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Key Players-

Some major key players for the global CBD Oil Market report cover prominent players like -

• Folium Biosciences
• Aphria Inc.
• Green Roads of Florida LLC
• Freedom Leaf Inc.
• ENDOCA
• Charlotte's Web Holdings Inc.
• CV Sciences Inc.
• CBD American Shaman
• Canopy Growth Corporation
• Medical Marijuana Inc.
• MedMen Enterprises Inc.
• Aurora Cannabis
• Kazmira LLC
• Curaleaf Holdings Inc.
• Pharmahemp
• NuLeaf Naturals
• HempLife Today
• Absolute Terps
• Whistler Medical Marijuana Corporation
• Emblem Cannabis

Segmentation-

By Product Type:

• Hemp Oil
• Marijuana Oil

By Applications:

• Multiple Sclerosis
• Depression and Sleep Disorders
• Neurological Pain
• Other Applications

By End-use Industry:

• Pharmaceutical
• Food & Beverages
  • Gummies
  • Chewing Gums
  • Chocolate Bars
  • Candies
  • Beverages
  • Dairy Products
  • Bakery Products
  • Snacks
• Cosmetics
• Others

By Regional & Country Level:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

Increasing use of CBD oil for medical purposes, growing desire for CBD extract products such as tinctures and oils, and increasing legalization of CBD products derived from CBD are some of the major factors driving the market growth

Additionally, cannabidiol treats hemorrhoids, prevents cramping throughout the menstrual cycle, and lessens schizophrenia-related psychotic episodes. Leading CBD businesses are advertising it as a medicinal ingredient with "no negative effects," making it a competitive alternative to THC (Tetrahydrocannabinol). Cannabidiol has a similar effect on the immune system that THC has on the central nervous system (CNS). However, when combined in equal amounts, cannabidiol and THC enhance each other's beneficial effects, creating an "entourage" effect that may affect future developments in the cannabidiol industry. Due to its anti-anxiety effects, cannabidiol is increasingly being used outside of pharmaceuticals, including as a component in sodas, mocktails, restaurants, and breweries.

Cannabidiol-based products are being actively adopted in society in a variety of forms, including beauty and health products, in addition to pet products. The main reason for the increased adoption is a shift in consumer perceptions of cannabis-derived products, as well as the variety of ways cannabinoid products can be used and consumed.

After many countries legalized cannabidiol, there has been a surge in interest in oils, tinctures, capsules, body lotions, transdermal patches, vaping products, and other personal care products. These products have gained popularity due to their numerous applications, which include potential healing properties and the ability to soothe pets.

Furthermore, the growing approval of CBD oil-based treatments around the world is expected to propel the market growth during the forecast period. According to the FDA of the United States January 2020 report, Epidiolex, a cannabis-derived medicative product, and Syndros (dronabinol), Marinol (dronabinol), and Cesamet, three synthesized cannabis-related drug products, have all earned agency approval (nabilone). Furthermore, CBD oil is legal in Canada and governed by the Cannabis Act.

Furthermore, the Center for Food Safety (CFS) analyses companies that sell CBD-based products based on their manufacturing process, testing protocols, processing methods, and consumer transparency. Such government initiatives piqued customers' interest, resulting in increased adoption of CBD-based products.

North America is Expected to Capture a Major Share in the CBD Oil Market

Geographically, North America is expected to dominate the CBD Oil Market within the forecast period. The North American region is expected to hold a significant share of the studied market due to the growing acceptance of cannabis-based product offerings in the treatment of psychiatric conditions and the region's rising expansion activities. Pure Extracts Technologies, for example, signed an agreement in January 2021 to 1,000 kilograms of high-potency CBD biomass from a top Western Canadian cultivator and purchase 220 kilograms of high-potency cannabis dried flower from a large Canadian licensed producer in order to scale up manufacturing of both its CBD extracts and Tetrahydrocannabinol (THC). Furthermore, several cannabis-based products have been regulated and approved in Canada and the United States, which is expected to play a significant role in the expansion of the cannabidiol (CBD) oil market in the coming years.

News-

CV Sciences, Inc. announced the launch of pain relief topicals +PlusCBD

In January 2022, CV Sciences, Inc. introduced four distinct over-the-counter (OTC) treatments designed to target the causes of minor pain and aches treatments designed to target the causes of minor pain and aches were introduced by CV Sciences, Inc. as part of the launch of its +PlusCBD pain relief topicals. With the debut of this product, the firm hopes to increase the number of +PlusCBD products it offers.

Aurora Cannabis Inc. launched Bidiol

In September 2021, Bidiol, a medical cannabis oil that is entirely made locally in Uruguay, was introduced by Aurora Cannabis Inc. In pharmacies around the nation, CBD oil is offered in 10mL and 30mL bottles in doses of 3% and 10%, respectively.

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 284.2 Million
Base year considered	2021
Forecast Period CAGR %:	31.5%
Market Size Expected in 2028:	USD 1,935.3 Million
Tables, Charts & Figures:	175
Pages	200
Companies	Folium Biosciences, Aphria Inc., Green Roads of Florida, LLC, Freedom Leaf, Inc., ENDOCA, Charlotte's Web Holdings, Inc., CV Sciences, Inc., CBD American Shaman, Canopy Growth Corporation, Medical Marijuana, Inc., MedMen Enterprises Inc., Aurora Cannabis, Kazmira LLC, Curaleaf Holdings, Inc., Pharmahemp, NuLeaf Naturals, HempLife Today, Absolute Terps, Whistler Medical Marijuana Corporation, and Emblem Cannabis
Segments Covered	By Product Type, By Applications, By End-use Industry
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa