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Global CBD Oil Market is expected to foresee significant growth. APAC to lead the growth!

Cannabidiol is a chemical compound that is found in the cannabis Sativa plant and is extracted from hemp or cannabis. It has a wide range of therapeutic applications, such as stress relief, pain relief, diabetes prevention, depression treatment, and others. In recent years, the demand for CBD oil has increased tremendously owing to an increase in awareness of individuals regarding the health benefit of CBD oil and its enhanced efficacy in pain management and other diseases. For instance, according to a recent study by Michigan University in 2021, about 72% of fibromyalgia patients used CBD to release their pain. Therefore, the widespread adoption of CBD products along with the changing consumer opinion is also driving the growth of the market during the forecast period.   

The CBD Oil Market is expected to grow at a steady rate of around 28.5% during the forecast period (2022-2028) owing to the rise in demand for CBD-infused food and beverages and the high demand for pain and sleep medication. The companies have also entered strategic alliances, including collaboration, partnership, or acquisitions to maintain the strategic edge in the global market. For instance, in 2021, First Crop collaborated with BeeHex to integrate First Crop’s CBD oils into BeeHex’s subscription-based personalized nutrition products.   

Request for a sample of the report browse through – https://univdatos.com/get-a-free-sample-form-php/?product_id=29998

Based on product type, the market is segmented into hemp oil and marijuana oil. The hemp oil segment is expected to grow with high CAGR rates due to the high efficiency of hemp-derived CBD products in the management of Parkinson’s disease. Further, the increased demand for hemp oil in the pharmaceutical industry is due to rising consumer spending on healthcare and the legalization of medical cannabis in Europe and North America.

Based on application, the market is categorized into pharmaceuticals, food and beverages, cosmetics, and others. The cosmetic segment held the maximum share of the market in 2020. The launch of innovative products, the rising use of online platforms to shop for CBD-infused cosmetics products, and the increasing awareness among individuals for organic products are expected to propel the growth of this segment during the forecast period.

Based on the distribution channel, the CBD oil market has been classified into direct and indirect. The indirect segment is expected to offer lucrative opportunities during the forecast period, which is mainly due to the increase in customer confidence in online channels. Various CBD oil manufacturers sell their products majorly with e-commerce websites to target more consumers and create a loyal customer base.

For a detailed analysis of the Global CBD Oil Market browse through https://univdatos.com/report/cbd-oil-market/

For a better understanding of the market adoption of the CBD Oil industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising health-conscious population, the growing adoption of CBD products, and the presence of large manufacturers. Moreover, a large number of cosmetic brands are advocating the use of CBD products. For example, “One Leaf” one of the leading face mask companies in China, has started running promotional campaigns for its CBD products through social media and online marketplaces.

Some of the major players operating in the market include ENDOCA; Cannoid, LLC; Medical Marijuana, Inc.; Folium Biosciences; Elixinol; NuLeaf Naturals, LLC; Isodiol International, Inc.; Canopy Growth Corporation; Aurora Cannabis Inc.; Tilary Inc.; and CV Sciences.  

Global CBD Oil Market Segmentation


Market Insight, by Product Type

• Hemp Oil
• Marijuana Oil


Market Insight, by Application

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


Market Insight, by Distribution Channel

• Direct
• Indirect
o Hospital Pharmacy
o Retail Pharmacy
o Supermarkets
o Online


Market Insight, by Region

  • North America
    •  US
    •  Canada
    •  Rest of North America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Rest of Asia-Pacific
  • Rest of the World


Top Company Profiles

  • CV Sciences
  • Medical Marijuana
  • Aurora Cannabis
  • Canopy Growth Corporation
  • Canntrust
  • Tilray
  • Medterra
  • Bluebird Botanicals
  • ENDOCA
  • Isodiol International

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