CBD Oil Market Scope
Cannabidiol (CBD) is one of the hundreds of cannabinoids that are found in the cannabis plant. This is a naturally occurring substance, can be extracted & mixed with a carrier oil, often hemp seed or coconut, to create CBD oil. CBD oil can be derived from two different species of cannabinoids such as marijuana and hemp. Rising awareness about the health benefits of CBD is the major factors that are expected to drive the growth of the global CBD oil market. The demand for CBD oil is increasing around the globe owing to their capacity to cure various ailments in the human body. CBD oil is used for the protection from Alzheimer's disease and has anti-inflammatory properties. It also benefits in the treatment of epilepsy and mental health disorders. The adoption rate of CBD oil is increasing because they help in drug withdrawal. It is highly recommended, as it can suppress the growth of cancer cells to prevent cancer.
The market study is being classified by Type (Marijuana-Derived CBD Oil Products and Hemp-Derived CBD Oil Products), by Application (Medical and Recreational) and major geographies with country level break-up. According to AMA, the Global CBD Oil market is expected to see growth rate of 30.0%
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global CBD Oil market throughout the predicted period.
ENDOCA BV (Netherlands), Isodiol International Inc. (Canada), Medical Marijuana Inc. (United States), Aurora Cannabis Inc. (Canada), CBD American Shaman (United States), Elixinol LLC (United States), FOLIUM BIOSCIENCES (United States), Freedom Leaf Inc. (United States), NuLeaf Naturals, LLC. (United States) and Charlotte's Web (CWB Holdings, Inc.) (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Green Roads Wellness (United States), Kazmira LLC (Orochem Technologies) (United States), CV Sciences, Inc. (United States), Cannoid LLC (United States) and Canopy Growth Corporation (Canada).
AdvanceMarketAnalytics has segmented the market of Global CBD Oil market by Type, Application and Region.
On the basis of application, Anxiety segment is dominating the market in the year 2018
On the basis of geography, the market of CBD Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Hospital Pharmacies will boost the CBD Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Disease Indication , the sub-segment i.e. Anxiety will boost the CBD Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In the United States, Food and Drug Administration approved the CBD drug Epidiolex for treatment of two epilepsy disorders. Also, The U.S. Drug Enforcement Administration (DEA) has assigned Epidiolex a Schedule V classification as well as non-Epidiolex CBD remains a Schedule I drug prohibited for any usage. In 2018, the World Health Organization recommended that CBD remain unscheduled. CBD is not scheduled under any United Nations drug control treaties.
- Increasing Legalization of Cannabis-Based Products
- Growing Awareness Regarding Health benefits of CBD oil
- Globally Increasing Millennial Population and Rising E-Commerce Industry
- Emerging Markets and The advent of advanced cultivation processes
Analyst View“CBD oil has proved in the area of medicines to treat several diseases such as anxiety, fibromyalgia, diabetes, and other mental disorders. It is also being majorly used for the cosmetics industry in the anti-wrinkle creams. However, CBD oil can also be consumed as a recreational purpose with the drinks, fluids, and other beverages. It can also be consumed by mixing with the food. Thus, the popularity of CBD oil has surged among the youths, owing to its legalization in most of countries. In addition, the CBD oil is being majorly used for the pet animals in the form of sprays, drops, and chew to ease the tension and panic. Therefore, the CBD oil market is expected to witness significant growth during the forecast period”
Key Target AudienceCBD Oil Products manufacturers, Raw material suppliers, Hospitals, Government and research organizations, Distribution consultancies and End users
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