CBD Oil Market Research Report Information By Product Type (Natural and Blended), By Price Point (Premium and Medium), By Application (Cosmetic, Industrial, Pharmaceuticals, and Food & Beverages), By Distribution Channel (B2B and B2C), and By Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030
Market Research Future Insights
The global CBD oil market is expected to register a CAGR of ~15.60% from 2022 to 2030 and hold a value of over USD 42.85 billion by 2030.
CBD (cannabidiol) oil is a popular natural remedy used for many common ailments. CBD oil is made by extracting CBD from the cannabis plant and then diluting it with a carrier oil, such as hemp seed oil or coconut oil.
However, the COVID-19 pandemic has also had a significant impact on the CBD oil market. The outbreak of the pandemic has disrupted supply chains, manufacturing, and distribution of CBD oil products, leading to a shortage of products in some regions. Additionally, the closure of physical retail stores during lockdowns has led to a significant increase in online sales of CBD oil products.
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Market Segmentation
The Global CBD oil market has been segmented into based on product type, price point, application and distribution channel.
Based on product type: natural and blended.
Based on the price point: premium and medium.
Based on application: cosmetic, industrial, pharmaceuticals, and food & beverages.
Based on distribution channel: B2B and B2C.
Key Players
Some of the top market players are Aurora Cannabis Inc., GW Pharmaceuticals plc., VIVO Cannabis Inc., Alkaline88, LLC., NewAge Inc., Cannara., Dixie Brands, KANNAWAY LLC, The Supreme Cannabis Company, Inc CANNABIS Aphria, CURA CS, LLC., KAZMIRA, Curaleaf, and CannazALL
Regional Analysis
In terms of regional analysis, North America dominates the global CBD oil market, followed by Europe and the Asia Pacific. The legalization of cannabis for medical and recreational purposes in several states in the US has contributed significantly to the growth of the market in North America. The Asia Pacific region is also expected to witness significant growth in the CBD oil market due to the increasing acceptance of CBD-based products and the legalization of cannabis for medical purposes in some countries.
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