Technavio has been monitoring the global CBD oil market since 2017 and the market is poised to grow by USD 3.52 billion during 2020-2024, at a CAGR of over 32% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global CBD oil market 2020-2024. (Graphic: Business Wire)
Read the 130-page research report with TOC on “CBD Oil Market Analysis Report by Product (Marijuana-derived CBD oil and Hemp-derived CBD oil), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2020-2024”.
The market is driven by the health benefits of CBD oil. In addition, the growing legalization of cannabis-based products is anticipated to further boost the growth of the CBD oil market.
CBD oil products are known to cure various ailments in the human body. They have anti-inflammatory properties that helps in alleviating chronic inflammation and pain in the body. It is also recommended by various physicians as a treatment for various chronic conditions such as fibromyalgia and multiple sclerosis. It minimizes the effects of drug withdrawal symptoms in individuals and helps them cope with mood swings, pain, insomnia, and anxiety. Such health benefits of CBD oil are expected to fuel the demand of the product, thereby driving the market growth during the forecast period.
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Major Five CBD Oil Market Companies:
Aurora Cannabis Inc.
Aurora Cannabis Inc. is headquartered in Canada and operates the business under various segments such as Cannabis and Horizontally Integrated Businesses. The company offers a wide range of cannabis oil products such as AURORA 1:1 DROPS (INDICA) and AURORA CBD DROPS.
Canopy Growth Corp.
Canopy Growth Corp. is headquartered in Canada and offers products through the following business units: Cannabis operations and Canopy Rivers. The company offers a wide range of cannabis oil products with different ratios of THC and CBD.
CBD American Shaman LLC
CBD American Shaman LLC is headquartered in the US and operates under various business segments, namely Relief, Wellness, Beauty, and Pets. The company offers a wide range of CBD oil such as CBD Gourmet Gummies, CBD Dog Treats, and CBD Extra Strength Water Soluble.
CV Sciences Inc.
CV Sciences Inc. is headquartered in the US and offers products through the following business segments: Consumer Products Segment and Specialty Pharmaceutical Segment. The company offers PlusCBD oil, which is a hemp-derived CBD oil.
Elixinol Global Ltd.
Elixinol Global Ltd. is headquartered in Australia and offers products through the following business segments: North America, Australia, and Rest of the World. The company offers a wide range of CBD oil products such as CBD Oil Hemp Extract, CBD Oil Capsules, CBD Oil Drops, Water Soluble CBD Liposomes.
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CBD Oil Product Outlook (Revenue, USD Million, 2020-2024)
- Marijuana-derived CBD oil
- Hemp-derived CBD oil
CBD Oil Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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