Cannabidiol (CBD) Oil Market To Reach USD 3213.4 Million By The End of 2029, Growing at a CAGR of 28.3%| Valuates Reports
BANGALORE, India, April 18, 2023 /PRNewswire/ -- Cannabidiol Oil (CBD Oil) Market is segmented by type (Hemp-derived, Marijuana-derived), by application (Pharmaceuticals, Food, Cosmetics, Other): Global Opportunity Analysis and Industry Forecast, 2023-2029.
Due to the COVID-19 pandemic, the global Cannabidiol Oil (CBD Oil) market size is estimated to be worth USD 551.2 million in 2022 and is forecast to a readjusted size of USD 3213.4 million by 2029 with a CAGR of 28.3% during the forecast period 2023-2029.
Major factors driving the Growth of the Cannabidiol Oil (CBD Oil) Market
The primary factor influencing the Cannabidiol Oil Market is the increased demand for CBD for health and wellness purposes because of its therapeutic characteristics. A significant element that is anticipated to increase the manufacture of CBD-infused goods is the increased acceptance and use of products due to regulatory approvals. Additionally, key businesses in the cannabis sector and the governments of several nations are funding R&D initiatives.
According to multiple scientific investigations, CBD is a beneficial treatment for a number of neurological conditions, including epilepsy. The medicinal advantages of cannabidiol are becoming more widely known, and this has led consumers to purchase cannabidiol products regardless of price.
Get a Free Sample Report:
https://reports.valuates.com/request/sample/QYRE-Auto-15H8950/Global_Cannabidiol_Oil_CBD_Oil_Market
TRENDS INFLUENCING THE GROWTH OF THE CANNABIDIOL OIL MARKET
The numerous medical applications for CBD products and the advantageous impacts the organic substance has on our health and well-being are mostly to blame for the rising demand for these goods. Products containing cannabidiol are used to treat conditions like insomnia, anxiety, nausea, illnesses linked to stress, chronic pain, and neurologic discomfort. For example, CBD products lessen the side effects of chemotherapy and replace conventional medications with significant negative side effects. CBD products are becoming more and more important due to the rising number of cancer sufferers worldwide. This factor is expected to drive the growth of the Cannabidiol Oil Market.
One of the product categories with the highest global growth is reportedly the hemp and CBD sector. These recent changes in food policy and the classification of hemp as a legitimate agricultural product as well as the promotion of hemp due to its environmental advantages are a few factors contributing to its explosive growth. One of the major factors favorably affecting the market is the rising demand for wellness beverages among consumers. The demand for the product is fueled by the rising popularity of CBD protein bars among athletes, fitness enthusiasts, and sportspeople. This factor is expected to drive the growth of the Cannabidiol Oil Market.
There has been steady growth in the CBD cosmetics sector, and 2022 was no exception. Growing knowledge of CBD's benefits in skincare and cosmetics is partly to blame for this trend's increasing popularity. This indicates that these products will be more readily accepted by the general public, particularly when it comes to skin diseases like dry skin, eczema, psoriasis, and even acne. This factor is expected to drive the growth of the Cannabidiol Oil Market.
View Full Report:
https://reports.valuates.com/market-reports/QYRE-Auto-15H8950/global-cannabidiol-oil-cbd-oi
CANNABIDIOL OIL MARKET SHARE ANALYSIS:
The Cannabidiol Oil Market was dominated by the marijuana industry, which generated about. The segment is being driven by the rising adoption of refined CBD products as well as the rising legalization of marijuana and goods derived from it for a variety of medical uses. The high efficacy of cannabidiol derived from marijuana is another important reason driving the segment's rise.
The market was dominated by the pharmaceuticals sub-segment, which contributed to revenue. Over the projection period, the segment is anticipated to expand at a profitable rate. In the upcoming years, it is projected that the demand for the product will increase due to the growing number of ongoing studies looking at how CBD affects various health concerns. Furthermore, a lot of businesses create CBD-infused items after purchasing CBD oils in bulk.
Key Companies:
- Kazmira
- CW Hemp/CW Botanicals
- Freedom Leaf
- Green Road
- Medical Marijuana
- Folium Biosciences
- HempLife Today
- Cannavest
- Pharmahemp
- ENDOCA
- CBD American Shaman
- NuLeaf Naturals
- Select Oil
- K.I.N.D. Concentrates
- Canopy Growth Corporation
- Aphria
- Emblem Cannabis Oils
- Whistler
- The Lab
- Absolute Terps
Get Customized Report:
Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-15H8950&lic=single-user
SIMILAR REPORTS:
- Cannabidiol(CBD) Water Market
- Pet CBD (cannabidiol) Market
- Cannabidiol (CBD) Edibles Market
- Cannabis-based Medicines Market
- CBD-Infused Beverages Market
- Medical and Recreational Cannabis Products Market
- Hemp Oil Dietary Supplement Market
Click here to see related reports on Cannabidiol Oil (CBD Oil) Market
ABOUT US:
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
CONTACT US:
Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
LinkedIn - https://in.linkedin.com/company/valuatesreports
https://reports.valuates.com/sitemap/html/reports/789
https://reports.valuates.com/sitemap/html/reports/790
https://reports.valuates.com/sitemap/html/reports/791
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
Share this article