CBD Oil Market Outlook 2019 to 2024, Research Report Published By Market Research Future. CBD Oil Market analyzed by Type (Hemp-Derived & Marijuana-Derived), Application (Cosmetics Industry, Food Industry, Pharmaceuticals Industry & Others) and Region (Americas, Europe, Asia-Pacific and Middle East &Africa) – Forecast till 2024
CBD Oil Market Highlights
The CBD Oil Market is estimated to be valued at USD 3782.32 Million by 2024 and expected to grow at a CAGR of 38.45% during the forecast period. CBD is a cannabinoid found in the cannabis plant. CBD oil acts as a natural pain reliever, have anti-inflammatory properties and could reduce epileptic seizures, etc.
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From the past few years, the market for CBD oil had been increasing owing to rising legalization of cannabis and growing R&D in the field. Following the same, it is noted that new market players have been emerging in the market owing to the rising demand for CBD oil.
CBD Oil Market- Segment Analysis
Global CBD oil market has been segmented on the basis of type, and application. On the basis of type, the market has been divided into hemp-derived and marijuana-derived types. The Hemp-derived CBD oil type is holding the major share of the overall CBD oil market. It has been estimated that the hemp-derived segment is growing at the highest CAGR to reach USD 2,092.97 Million by the end of 2024. Most of the legal CBD-based products in the market are hemp-based. According to the 2018 Farm Bill, companies can legally grow, manufacture, possess, and sell hemp-derived CBD products.
Market Segmentation
Global CBD Oil Market, by Type
- Hemp-Derived
- Marijuana-Derived
Global CBD Oil Market, by Application
- Cosmetics Industry
- Food Industry
- Pharmaceuticals Industry
- Others
Global CBD Oil Market, by Region
- North America
- US
- Canada
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- Europe
- Germany
- Russia
- France
- Italy
- UK
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Southeast Asia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Turkey
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
Intended Audience
- CBD manufacturers and suppliers
- Medical research laboratories
- Research and development (R&D) companies
- Market research and consulting service providers
- Potential investors
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