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[250 Pages Report] CBD Oil Market is expected to surpass a valuation of US$ 284.2 Mn by 2021 end and to grow at CAGR of 31.5% by 2021 – 2031 [165+ Pages Research Report] This report provides a detailed analysis of the CBD oil market by type (THC dominant, CBD dominant, Marijuana based, Hemp…

CBD Oil Market

Market Insights on CBD Oil covering sales outlook, demand forecast & up-to-date key trends

CBD Oil Market By Product Type (Hemp Oil, Marijuana Oil), Application (Pharmaceuticals, Food & Beverages, Cosmetics), Distribution Channel (Direct/B2B, Indirect/B2C, Hospital Pharmacy, Retail Pharmacy, Hypermarkets/Supermarkets, Convenience Store, Online Retail) & Region – Forecast to 2021 – 2031

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CBD oil Market Snapshot

[250 Pages Report] Future Market Insights (FMI) predicts the sales of cannabidoil (CBD) oil market to total US$ 284.2 million by the end of 2021. As per the study, demand will continue rising, enabling the market to exhibit a compound annual growth rate (CAGR) of 31.50% annually, through 2031.

Hemp and marijuana oil segment exhibited prolific year-on-year growth of 35.90% in 2021, due to increasing sales of CBD infused food and beverages and high demand for pain and sleep medication. Rising use of CBD oil in sports industry is forecast to drive the market sales through 2031.

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CBD oil Market – Key Points Covered

  • Market estimates and forecast 2021 – 2031
  • Key drivers and restrains impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competitive Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact On CBD Oil Market
  • Recommendation on Key Winning Strategies

CBD oil Market Outlooks 2016 – 2020 in Comparison to 2021 – 2031 Forecasts

Increasing demand for CBD oil in production of medicines owing to its pain reducing properties has been facilitating growth in the CBD oil market over the past few years. From 2016 to 2020, the market exhibited exponential growth at 69.2% CAGR.

CBD oil regulates the endocannabinoid system (ECS) activity and interacts with neurotransmitters. This property makes it an ideal ingredient for anxiety and anti-depression drugs.

In 2018, The World Anti-Doping Agency (WADA) removed cannabidiol (CBD) oil from its list of prohibited substance, however all synthetic cannabinoids that mimic the effects of THC are prohibited.

Backed by favorable policies, the global CBD oils market will expand at 31.5% CAGR and surpass sales revenue of US$ 284.2 million in 2021, says FMI.

CBD oil entrepreneurs are focusing on developing cannabidiol based lotions, skincare, pet care, and textile products. Growing sales of a wide range of CBD-fortified products along with new product launches and expansion of product pipeline will provide lucrative opportunities for market growth especially in emerging economies.

Rise in research and development (R&D) activities aimed at reducing the THC content and growing emphasis on getting faster approval from regulatory bodies will positively influence the market growth. However, regulations imposed on application and sales of certain products will hinder sales during forecast period.

Europe and North America collectively account for more than 70% of CBD oil market share, due to strong network of online sales channel, high degree of awareness regarding the various benefits of cannabidiol, and introduction of retail products like CBD oil, CBD gummies, and CBD beverages in these regions.

Is CBD Oil Emerging as a New Pain Relief Drug?

Research have shown that marijuana-derived CBD oil and hemp-derived CBD oil plants possesses stress and anxiety reducing properties. CBD oil when consumed in supplement form offers therapeutic benefits for neurological conditions and disorders like depression, nerve-related pain, sleep disorders, and inflammatory pain. This has fueled the adoption of CBD oil in painkiller and anxiety treatment drug manufacturing industry.

Many pharmaceutical companies are looking to integrate CBD oil in pain-relief medication and introduce new products in the market. For instance, in 2021 dosist™ introduced its progressive new range of CBD+ topical products with all-natural solutions designed to help with pain relief.

Softening cannabis law and growing awareness regarding benefits of CBD oil have paved way for legitimizing medicinal claims of CBD oil. Many celebrities are using CBD oil and related products for treating their sleep disorders. Increasing endorsement by celebrity evangelists will propel the sales of CBD oil products in upcoming years.

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Find your sweet spots for generating winning opportunities in this market.

How will Favorable Regulations in West Affect CBD Oil Market?

Legalization of use of CBD oil and related products and increasing demand for CBD food and beverages in North America and Europe are encouraging market players to introduce new and flavored products.

According to the 2018 Agriculture Improvement Act U.S., companies are permitted to grow and sell hemp and hemp-based products that are sourced from cannabis sativa L and all of its derivatives. This law along with removal of CBD from the Controlled Substances Act (CSA) will make a positive impact on CBD oil market.

Changes in federal law have empowered manufacturers to experiment with various strains of hemp and marijuana in order to expand their product portfolio, subsequently boosting the demand for CBD oil and ingredient based products in upcoming years.

Growing popularity of CBD products especially among millennial population is expected to create incremental prospects for sales uptick of CBD oil across the globe. Increasing research towards developing modified CBD oil extracts will propel the market the growth. For instance, the Food and Drug Administration (FDA) evaluated three genetically recognized as safe (GRAS) notices on hemp extract in 2018.

A new dietary ingredients law is also passed for acceptance of hemp extracts in dietary supplements without FDA objection. Following this, the demand for CBD oil in food items is expected to rise during the assessment period.

CBD Oil Market Country-wise Analysis

What Are the Factors Driving CBD Oil Demand in U.S.?

The U.S. is expected to lead the CBD oil market over the forecast period, owing to presence of favorable laws regarding the use of CBD products and increasing health conscious population in the country. Approval of U.S. farm bill in 2020 also will boost the sales of CBD oils in the U.S.

According to American Sleep Association, more than 50 million U.S. adults have sleep disorders. CBD oil regulates and interacts with neurotransmitters thus assisting in getting deep sleep and treat insomnia. Increasing cases of sleep disorder and rise in number of research indicating the effectiveness of CBD in treating such ailments will boost the market growth in U.S.

Growing awareness among population regarding medical benefits of CBD along with presence of leading market players will catapult the CBD oil market growth in U.S.

Why Is U.K. Leading the Europe CBD Oil Market?

The U.K. is forecast to follow the U.S. and become the second-largest CBD oil market through 2031. The country has one of the most evolved regulatory frameworks for CBD products and has emerged as the largest CBD market in cross Europe. Increasing foreign investment and rise in research and development activities will allow CBD oil market to become a significant contributor to the U.K. economy.

U.K.’s Food and Standards Agency (FSA) categorized CBD oil as novel food ingredient. This allowed top CBD companies to apply and acquire novel food authorization certification for their product range. This led to increase in demand of high street products and thus fueled the market growth in the country.

Majority of CBD oil is imported from parts of Europe and U.S. owing to restriction on cultivation and extraction of hemp flowers which the major CBD source. According to the law, hemp farmers are required to lawfully destroy hemp flowers and leaves after harvesting. This makes UK’s CBD oil industry financially non-viable in long term and thus negatively influence the market growth.

Medicine and Healthcare products Regulatory Agency (MHRA) stated that any product containing CBD oil and THC cannot be sold as medicine, while the retailers can label and market CBD products as food supplements. These policies will boost the adoption of CBD in food industry like production of CBD gummies and other products in U.K.

What is Driving CBD Oil Market Growth in China?

Cultivation and production of hemp and CBD is legal only in Yunnan and Heilongjiang provinces of China. Majority of produced hemp is exported as it is legal to export CBD to European and American market.

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With government approval for the use of CBD oil in cosmetics production in 2015, its application in production of topical creams, ointments, and balms will skyrocket.

Large cosmetic brands are advocating towards using of CBD products. For instance, “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.

Therefore gradually rising CBD application in China’s cosmetic sector will emerge as a chief growth driver.

Global CBD Oil Market is growing with a CAGR of 38.4% with Size worth USD 27.9 million by 2027 | Exclusive Report by Proficient Market

[165+ Pages Research Report] This report provides a detailed analysis of the CBD oil market by type (THC dominant, CBD dominant, Marijuana based, Hemp based), by application (Food and Beverage, Personal Care/Cosmetics, Pharma and Nutraceuticals, Industrial Application) and geography (North America, South America, Europe, APAC, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Joy Organics, CBD American Shaman, CV Sciences, Inc., Gaia Herbs, Curaleaf, Diamond CBD, Medical Marijuana, Inc., Emblem CANNABIS Aphira, ConnOils, LLC, Nu Leaf Naturals, LLC, Folium Biosciences, ENDOCA, Irie CBD, PureKana, Canopy Growth, Isodiol International Inc., Elixinol Global Limited, Aurora Cannabis, Kazmira, etc.

May 27, 2021 08:40 ET | Source: Proficient Market Proficient Market

Pune, India, May 27, 2021 (GLOBE NEWSWIRE) — Proficient Market Research has published a new research report titled “Global CBD Oil Market – By Type (THC Dominant, CBD Dominant, Marijuana Based and Hemp Based), Product Type (Original and Blended), Product Category (Unflavoured and Flavoured), Application (Food and Beverages, Personal Care/Cosmetics, Pharma and Nutraceuticals and Industrial Application), Distribution Channel (Direct and Indirect) – Growth, Future Prospects, Post COVID-19 Scenario 2021 – 2028”

According to the research report, the global CBD oil market is expected to witness a tremendous growth in the following years. As per Proficient Market Research analysis, the global CBD oil market is expected to grow at a CAGR of 38.4% in the forecast period of 2020 to 2027 and expected to reach USD 27,939,481.97 million by 2027.

Access Insightful Study with over 200+ pages, list of tables & figures, profiling 20+ companies. Ask for Sample Copy Report @

Market Overview

Cannabidiol is a natural remedy used for medication purpose as it is proved to be a cure for many ailments. Cannabidiol (CBD) oil, a part of cannabinoid is derived from cannabis (marijuana) plant. It is not a highly toxic chemical like THC which is derived from the same plant. As CBD oil is associated with marijuana, its utilisation has always been a topic of controversy. But, due to its various benefits and growing awareness regarding its heath advantages, CBD oil has a good potential to grow in the coming years. Utilisation of CBD for anxiety relief, its benefits in neurodegenerative disorders, in pain relief for arthritis, chronic pain, muscle pain, spinal cord injuries, etc. may boost its demand and adoption among numerous patients. Researchers are also studying potential of CBD in Alzheimer’s disease, Parkinson’s disease, stroke, etc. CBD oil when extracted from marijuana plant in the form of oil or powder can be mixed into creams or gels for application on body or capsules/ tablets are formed for oral intake. Therefore, as the awareness regarding CBD oil among general public increases, its demand will increase.

Utilization of CBD Oil in Pharmaceutical Industry

In pharmaceutical industry, researchers in many countries are finding out the benefits of CBD oil. Reports say that one in every seven US patient depend on CBD in one way or the other. There have been researches that CBD with its derivative THC can perform well in nausea related to chemotherapy. Also, its utilisation for the therapy in AIDS, treatment for chronic pain and diseases, cure for anxiety are other factors for which CBD is important. Though, there are researches still being performed on numerous chemicals that are present in CBD oil.

Infused Drink Innovations aim to boost the Market

CBD drinks are gaining prevalence due to the on-going stress due to covid-19 pandemic. Cannabis market is one of the rare markets that has witnessed moderate growth during the pandemic. According to well-known manufacturers, consumers are adding it to their drink, for instance, coffee. Many companies such as MEDAHUMAN, Trip, in Europe, Chilled, in France are working towards developing their brands as energy boosters and helping people to relax from their hectic lifestyles. As CBD is legal in almost every part of Europe and US, it is easier to find and purchase it, therefore, growing the sales of CBD oil.

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Side Effects of CBD inhibiting the Market Growth

As mentioned above, researches are still going on regarding the effect of all the chemicals of CBD in human body. Still there are some risk and side effects that can happen due to large consumption of CBD, for instance, liver injury, risk of sedation and drowsiness, diarrhoea, etc. Some people may feel decrease in appetite and feel their concentrating power getting low. Such side effects are the reason why there are controversies for legalising it all over and therefore, may affect its sales in the coming years.

Competitive Landscape

Prominent market players operating in CBD oil market include Joy Organics, CBD American Shaman, CV Sciences, Inc., Gaia Herbs, Curaleaf, Diamond CBD, Medical Marijuana, Inc., Emblem CANNABIS Aphira, ConnOils, LLC, Nu Leaf Naturals, LLC, Folium Biosciences, ENDOCA, Irie CBD, PureKana, Canopy Growth, Isodiol International Inc., Elixinol Global Limited, Aurora Cannabis, Kazmira, etc. Companies operating in the manufacturing and extracting CBD oil are producing creams or gels for applying on the body or producing capsule like tablets for its consumption.

Regional Outlook

North America has been dominating the market since past years with a revenue share in between 30-40%. As North Americans are highly conscious regarding their health and adaptive to beneficiary things, thus, growing adoption and consumption of CBD based products, such as CBD oil in different forms is driving the sales in the region. Also, presence of key manufacturing companies, and highly structured healthcare infrastructure, and no strict law for cannabis are contributing towards its surge during the forecast period.

Asia Pacific market is also projected to observe significant growth in the CBD Oil market with China being world’s largest exporter of hemp. Government Laws supporting the industry in China is another factor why the market can flourish during the forecast period.

Global CBD Oil Market Segmentation

Based on Type

  • THC dominant
  • CBD dominant
  • Marijuana based
  • Hemp based

Based on Product type

Based on Product Category

Based on Application

  • Food and Beverage
  • Personal Care/Cosmetics
  • Pharma and Nutraceuticals
  • Industrial Application

Based on Distribution Channel

Based on Regional Presence

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Latest Marketing Updates

  • Curaleaf in June 2020 launched medical cannabis tablets in Florida which are to consume by the patients. These tablets are refreshing form of medication as they contain mint offering patients convenience, portability, and with its ease of use because of its disintegrating benefits on the tongue. These tablets help the patients to live life well and the company is planning to expand its production in other parts of America.
  • HempLab Inc. have launched a hemp/ cannabis testing kit using only 100 mg of biomass in one test. The device is made up of using fluorescent spectroscopy aiming to deliver lab quality results in 20 minutes. The device provides result as low as .1% for both CBD and THC. The device is easy to use, simple and portable helping to prevent human errors.

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