Cannabidiol Oil Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025-Growing demand for medicinal use and changing regulatory scenario is likely to grow the Cannabidiol Oil market.
Cannabidiol Oil Market is valued at USD 23.37 Million in 2018 and expected to reach USD 1068.54 Million by 2025 with the CAGR of 21.5% over the forecast period.
Cannabidiol oil is naturally occurring substance which is extracted from the cannabis sativa plant and it is used for various medical purposes. Its prolonged use can cause various side effects due to which its legalization is the debate topic for the authorities. It is still banned in most of the countries but also legalized for the medical use under stringent regulations. These countries include U.S., Canada, UK, Sweden and others.
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Cannabidiol Oil Market report is segmented on Product Type, application and by regional & country level. Based upon product type, cannabidiol oil market is segmented into Marijuana-derived CBD Oil and Hemp-derived CBD Oil. Based upon application, cannabidiol oil market is classified into Anxiety, Fibromyalgia (FM), Diabetes and others.
The regions covered in this Cannabidiol Oil market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Cannabidiol Oil market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Cannabidiol Oil Market Reports–
Some major key players for Cannabidiol Oil market are ENDOCA, Gaia Botanicals, Aurora Cannabis (AC), Medical Marijuana, CBD American Shaman, Canopy Growth Corporation, Elixinol, PharmaHemp, Isodiol, CV Sciences, NuLeaf Naturals, Cannoid, IRIE CBD, Folium Biosciences among others.
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On 23rd July, 2019, the U.S. Food and Drug Administration announced that it has issued a warning letter to Curaleaf Inc., for illegally selling unapproved products containing cannabidiol (CBD) online with unsubstantiated claims that the products treat cancer, Alzheimer’s disease, opioid withdrawal, pain and pet anxiety, among other conditions or diseases.
Increased use of cannabidiol oil in medicine and medicinal purposes and changing regulatory policies helps cannabidiol market to grow.
There are various factors driving the growth of cannabidiol market over the forecast period are increased use of cannabidiol oil for the medical purposes such as for the treatment of epilepsy, neurological disorders. There is an increase in the neurological disorders which in turn increased the demand for better treatment options. As per the article published in U.S. pharma Journal, there were around 20 million Americans suffering from some form of neuropathy and 16% of the household have brain impairment patient. Furthermore, increased use of cannabidiol oil in cosmetics products and its advantages has led to the change in regulatory scenario which may legalize its use in some of the major countries which may contribute the growth of cannabidiol market. Moreover, increased awareness among people is also expected to create ample opportunities in the near future which is expected to promote the growth of cannabidiol market. However, stringent regulatory policies are expected to hamper the growth of cannabidiol market.
North America is expected to dominate the Cannabidiol Oil Market.
North America accounted for largest share to dominate the market. The countries like U.S., Canada are expected to be the major growth factors coupled with increased awareness among people are expected to support the growth of cannabidiol market. Europe is expected to the largest market for cannabidiol oil due to the supportive regulatory scenario which allows the growth of cannabis plant and oil extraction. Further, this is used for various purposes such as medical, food and beverages, cosmetics and others. Asia pacific is expected to develop moderately Middle East, Latin America and Africa is expected to follow the growth in terms of revenue. In these regions the cultivation of cannabis plant is done on a large scale but due to lack of proper guidelines and regulatory scenario the use of cannabidiol is not legalized.
Key Benefits for Cannabidiol Oil Market Reports –
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
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Cannabidiol Oil Market Segmentation –
By Product Type
- Marijuana-derived CBD Oil
- Hemp-derived CBD Oil
- Fibromyalgia (FM)
By Regional & Country Analysis:
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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