Global CBD Hemp Oil Market is Expected to Grow USD 2385.67 Million by 2027
Fior Markets launched a study titled CBD Hemp Oil Market by Type (Pure CBD oil, CBD oil capsule, CBD vape oils), Application (Online, Wellness & Natural Product Stores, Medical Marijuana Dispensaries), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027, As per the report the Global CBD Hemp Oil Market is expected to grow from USD 187.70 Million in 2019 to USD 2385.67 Million by 2027, at a CAGR of 37.41% during the forecast period 2020-2027.
Cannabidiol, also recognized as CBD, is one of over 60+ naturally existing cannabinoid compounds found in Cannabis, an annual herbaceous flowering plant. CBD oil is derived from an organic substance made in the plant’s secretions. Both marijuana and hemp are forms of cannabis. However, cannabis does not mean marijuana. Cannabis is the genus name and general umbrella term, in which all types of marijuana and hemp fall. Until lately, delta-9 tetrahydrocannabinol, or THC, was the most eminent and studied cannabinoid owing to its abundance in marijuana. Though, as the second most predominant cannabinoid in marijuana and the top non-psychoactive cannabinoid found in hemp, CBD has been achieving momentum in the scientific community and media.
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Flexibility of CBD oil causing in an extensive variation of applications, health benefits such as capability to lift cognitive abilities, anti-inflammatory properties, among others. Development of novel products such as CBD oil infused honey and aggressive marketing plans agreed to promote the same is also anticipated to benefit the overall market growth. Globally chronic diseases such as diabetes, cancer, and others have grown in prevalence, thus driving the demand for alternatives which offer relief and assist treatment such as CBD hemp oil. Moreover, amongst younger demographics, diagnoses of anxiety and depression have increased; this united with the growing occurrence of neurological diseases have amplified the demand and use of CBD hemp oil in treatment. CBD hemp oil also has potential in treating current skin problems such as acne. Acne is a highly widespread skin problem for which treatment options are in high demand. Furthermore, CBD hemp oil is available in a variety of forms to make consumption easier, which also includes edible options.
By type segment includes Pure CBD oil, CBD oil capsule, CBD vape oils and others. Pure CBD oil segment held largest share of 69.08% (in terms of revenue) and valued USD 129.67 Million in 2019. In terms of application includes online, wellness & natural product stores and medical marijuana dispensaries. Online segment held largest consumption share 66.53% (in terms of revenue) and valued USD 124.87 Million in 2019. The North America CBD Hemp Oil market size was 82.98 million USD in 2019 and having the highest market share of 44.21%. However, China CBD Hemp Oil market is growing with highest CAGR of 39.64% during the forecast period.
The market for global CBD hemp oil market is segmented into key players. Major Players includes Medical Marijuana, Elixinol, Canopy Growth Corporation, ENDOCA, Isodiol, and among others. ENDOCA held the largest market share of 16.56% in 2019.
About the report:
The global CBD Hemp Oil market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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