CBD Oil Market, By Product Type (Natural, Blended), By Price Point (Premium, Medium), By Application Outlook (Cosmetic, Industrial, Pharmaceuticals, Food, and Beverages, By Distribution (B2B, B2C), By Region – Global Analysis Forecast Till 2030

The Global CBD Oil Market size was valued at USD 6.12 billion in 2021 and is expected to expand at a CAGR of 17.2% from 2022 to 2030.

Cannabidiol (CBD) is one of the most widespread active ingredients in cannabis (also known as marijuana). It is an essential component of marijuana in the medical field and is derived from the hemp plant and is very similar to the marijuana plant. CBD hemp oil is a mixture of compounds that are clinically important in treating various diseases. It is used extensively in the treatment of people suffering from neurological disorders. CBD hemp oil is also effective against a variety of health issues and diseases, such as cancer, anxiety, and depression, with added benefits such as pain relief, cognitive enhancement, and anti-inflammatory properties.

According to a World Health Organization report, CBD does not show significant results, indicating the potential for abuse or dependence. At this time, there is no significant evidence of adverse effects associated with CBD use. The presence of a compound called Delta-9 tetrahydrocannabinol in the oil is proving to be important as it has shown positive results for its application in relieving stress and maintaining the body's overall balance.

CBD oil has gained significant attention in recent years due to its potential benefits. Many people turn to CBD oil for its reported benefits, such as relieving pain and anxiety. However, it's important to be aware of potential side effects. While CBD oil is generally well-tolerated, some individuals may experience mild side effects like dry mouth or drowsiness. On the flip side, the benefits of CBD oil are vast, including its potential to promote better sleep and alleviate pain. CBD massage oil has also gained popularity for its potential to reduce muscle tension and promote relaxation. CBD oil offers a promising natural alternative for those seeking relief from various conditions, but it's crucial to consult with a healthcare professional before incorporating it into your routine.

Market Dynamics:

Drivers:

Increased public funding for R&D expertise has accelerated market expansion. By assuring the best and most efficient use of resources, R&D activities for sustainable development will raise the market value. Additionally, small and medium-sized enterprises are becoming more aware of the advantages of cannabidiol and its medical capabilities, leading to increased demand and usage. The pharmaceutical industry's widespread use of CBD hemp oil to treat pain in the body is encouraging. As a result, the CBD Oil market grows.

Restraints:

The fluctuating cost of raw materials and mechanical equipment significantly threatens the growth of the market. Furthermore, the uneven availability of raw materials in one location is hindering the growth of the market. Intensifying competition, growing supply demand, and the development of low-quality products due to inadequate manufacturing equipment will further hamper the CBD Oil Market growth.

Key players:

• Cannavest,

• Pharmahemp,

• ENDOCA,

• BAFA Gmbh,

• Protect Pharma,

• Rakitovica,

• Biobloom Hemp,

• DragonflyCBD,

• MH medical hemp GmbH,

• Elixinol

Market Segmentation:

CBD Oil Market, Product Type Outlook

• Natural

• Blended

CBD Oil Market, Price Point Outlook

• Premium

• Medium

CBD Oil Market, Application Outlook

• Cosmetic

• Industrial

• Pharmaceuticals

• Food and Beverages

CBD Oil Market, Distribution Channel Outlook

• B2B

• B2C

CBD Oil Market, Region Outlook

• North America

  • US

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • Australia and New Zealand

  • Rest of Asia-Pacific

• Rest of the World

  • South America

  • Middle East

  • Africa

Regional Analysis:

North America accounted for the major market share for CBD oil in 2021, owing to the increasing acceptance of cannabis-based products in the treatment of psychological disorders and the activities of local companies. Additionally, various cannabis-based products are approved and regulated in the Canada and United States are expected to play a significant role in the CBD oil market size during the forecast period.

Asia Pacific holds a significant market share, and countries such as Japan, China, and India account for market development scenarios for these products. The increasing legalization and approval of the use of cannabidiol in several products present a potential opportunity for manufacturers to operate in the market. In 2019, Thailand became the only Southeast Asian country to legalize cannabis for medicinal and research purposes. It has also legalized the use of CBD hemp oil to produce clothing, textiles, and more. Consumer awareness by producers and capitalization of product trade are some of the key factors driving the market forecast for CBD oil in this region.

Scope of the Report:

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