Global CBD Oil Market is growing with a CAGR of 38.4% with

Pune, India, May 27, 2021 (GLOBE NEWSWIRE) – Competent Market Research released a new research report entitled “Global CBD Oil Market – By Type (THC Dominant, CBD Dominant, Marijuana Based, and Hemp Based), Product Type ( Original) published and mixed), product category (unflavoured and flavored), application (food and beverages, personal care / cosmetics, pharmaceuticals and nutraceuticals and industrial use), distribution channel (direct and indirect) – growth, future prospects, post-COVID-19- Scenario 2021-2028 ”

According to the research report, the global CBD oil market is expected to see tremendous growth in the years to come. According to an analysis by Proficient Market Research, the global CBD oil market is expected to grow at a CAGR of 38.4% over the forecast period from 2020 to 2027 and to reach USD 27,939,481.97 million by 2027.

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Market overview

Cannabidiol is a natural remedy for medicinal purposes as it has been shown to be a cure for many diseases. Cannabidiol (CBD) oil, a part of cannabinoid, is extracted from cannabis (marijuana). It’s not a highly toxic chemical like THC, which comes from the same plant. Since CBD oil has been associated with marijuana, its use has always been a controversial topic. However, due to its various benefits and growing awareness of its health benefits, CBD oil has good growth potential in the years to come. The use of CBD for anxiety relief, its benefits in neurodegenerative diseases, pain relief from arthritis, chronic pain, muscle pain, spinal cord injuries, etc. can increase demand and acceptance among numerous patients. The researchers are also investigating the potential of CBD in Alzheimer’s, Parkinson’s, stroke, etc. CBD oil, when extracted from marijuana plants in the form of oil or powder, can be mixed into creams or gels to be applied to the body, or capsules / tablets are formed. Oral intake. Therefore, as the public becomes more aware of CBD oil, the demand will increase.

Uses of CBD oil in the pharmaceutical industry

In the pharmaceutical industry, researchers in many countries are discovering the benefits of CBD oil. One in seven US patients reportedly is addicted to CBD in one way or another. Research has been carried out to show that CBD, with its derivative THC, may work well for chemotherapy-related nausea. Its use for the therapy of AIDS, the treatment of chronic pain and illness, the curing of anxiety are other factors for which CBD is important. However, research is still being conducted on numerous chemicals found in CBD oil.

Infused Drink Innovations aim to stimulate the market

CBD drinks are becoming increasingly popular due to the ongoing stress from a Covid-19 pandemic. The cannabis market is one of the rare markets that saw moderate growth during the pandemic. According to well-known manufacturers, consumers add it to their drink, for example coffee. Many companies like MEDAHUMAN, Trip in Europa, Chilled in France are working to develop their brands as energy boosters and to help people recover from their hectic lifestyle. Since CBD is legal in almost all parts of Europe and the US, it’s easier to find and buy, which increases sales of CBD oil.

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Side Effects of CBD Inhibiting Market Growth

As mentioned above, research is still being conducted into the effects of all CBD chemicals in the human body. Still, there are some risks and side effects that can arise due to high CBD consumption, such as: For example, liver damage, risk of sedation, drowsiness, diarrhea, etc. Some people may experience a loss of appetite and may feel that their ability to concentrate decreases. Such side effects are the reason there is controversy surrounding legalization and, therefore, may affect sales in the years to come.

Competitive landscape

Prominent players in the CBD oil market include Joy Organics, CBD American Shaman, CV Sciences, Inc., Gaia Herbs, Curaleaf, Diamond CBD, Medical Marijuana, Inc., Emblem CANNABIS Aphira, ConnOils, LLC, Nu Leaf Naturals, LLC, Folium Biosciences, ENDOCA, Irie CBD, PureKana, Canopy Growth, Isodiol International Inc., Elixinol Global Limited, Aurora Cannabis, Kazmira, etc. Companies that make and extract CBD oil make creams or gels for application on the Body or manufacture forth capsule like tablets for consumption.

Regional outlook

North America has dominated the market for the last few years with a share of sales between 30 and 40%. As North Americans are very health conscious and adapt to the needs of the beneficiaries, the increased adoption and consumption of CBD-based products such as CBD oil in various forms is driving sales in the region. The presence of important manufacturing companies and a highly structured health infrastructure as well as no strict law for cannabis also contribute to its increase in the forecast period.

Significant growth in the CBD oil market is also forecast for the Asia-Pacific market, with China being the world’s largest hemp exporter. Government laws in support of industry in China are another factor why the market can flourish over the forecast period.

Global CBD Oil Market Segmentation

Based on type

THC dominantCBD dominantMarijuana basedHemp based

Based on the product type

Based on the product category

Based on the application

Food and BeveragePersonal Care / CosmeticsPharma and NutraceuticalsIndustrial Application

Based on the sales channel

Based on regional presence

North AmericaEuropeAsia PacificLatin AmericaMiddle East and Africa

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Latest marketing updates

Curaleaf launched medical cannabis tablets in Florida in June 2020 for use by patients. These tablets are a refreshing form of medication because they contain mint, which provides patients with convenience, portability and ease of use as they dissolve on the tongue. These tablets help patients lead good lives, and the company plans to expand production in other parts of America. HempLab Inc. has launched a hemp / cannabis test kit that uses only 100 mg of biomass in one test. The device consists of fluorescence spectroscopy with the aim of delivering laboratory-quality results in 20 minutes. The device delivers a result of only 0.1% for both CBD and THC. The device is easy to use, simple and portable to avoid human error.

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