Cannabidiol (CBD) Oil Market 2020 Industry Size, Share, Price, Trend and Forecast to 2025
The global market for cannabidiol (CBD) oil should grow from $967.2 million in 2020 to $5.3 billion by 2025, at compound annual growth rate (CAGR) of 40.4% for the period of 2020-2025.
CBD oils are primarily used in pharmaceutical, food, cosmetic and other industries. The cosmetic and food industry segments accounts for more than half of the market. However, the pharmaceutical industry segment is expected to expand significantly, with a higher CAGR (REDACTED) from 2020-2025. Regionally, North America captured the largest share of the CBD oil market, with sales of REDACTED in 2019. However, the Asia-Pacific is one of the fastest-growing regions with a market size of REDACTED in 2019. The Asia-Pacific region is expected to grow at a CAGR of REDACTED from 2020-2025 and reach REDACTED by 2025.
Cannabidiol (CBD) oil is a safe, non-addictive substance found in the cannabis plant. CBD is the most common cannabinoid found in cannabis after tetrahydrocannabinol (THC). Out of all cannabinoids, cannabidiol oil is the one that is most used for medical purposes due to the absence of psychoactive effects. CBD oil is used in several medical applications such as treatment of anxiety and depression, stress relief, diabetes prevention, mitigation of pain, alleviation of cancer symptoms and acne reduction. The global CBD market is anticipated to grow at a strong rate over the forecast period owing to the growing adoption of CBD-based products for treating various medical conditions.
The global CBD oil market is mainly driven by growing research funding for cannabinoid research, legalization of CBD in various regions and the rising occurrence of chronic diseases and related complications. However, the adverse effects associated with cannabis and stringent government policies may slow the growth of the market.
The major operational strategies adopted by key competitors include R&D activities, establishment of joint ventures, collaborations, partnerships, product launches, and mergers and acquisitions. R&D activities and product launches are the topmost strategies to improve market position and brand image. The CBD oil market is a highly competitive market with the presence of many national, regional and local companies. Demand in the market calls for both cost and product differentiation, continuous product development and upgrades to assure and sustain profitability.
This report covers a range of products. This study will enable readers to understand and gain insights into the current market and will forecast changing market scenarios. The data provided can help users understand which market segments are expected to grow at the highest rates, along with factors driving growth and limiting growth, key opportunity areas, and more.
Discussion and analysis cover the following topics –
– Key market analysis.
– Market dynamics, including drivers and restraints.
– Competitive developments and competitive landscape.
– Geographic regional analysis.
– Regulatory scenarios in major regions.
– Profiles of key market players.
This report offers a detailed, competitive outlook including market shares and company profiles of key participants. Key players profiled in the report include: Medical Marijuana Inc., Isodiol International Inc., ENDOCA, Elixinol Global Ltd., CV Sciences Inc., CBD American Shaman, Canopy Growth Corp., Aurora Cannabis and others.
This report is focused on two types of CBD oil products –
– Hemp derived.
– Marijuana derived.
– 35 data tables and 40 additional tables
– An overview of the global markets for cannabidiol (CBD) oil
– Analyses of the global market trends, with data corresponding to market size for 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025
– Evaluation of the market potential for CBD oil and identification of the dynamics of each key market segment
– Comprehensive analysis of cannabidiol oil products and application segments
– Examination of the current trends and future prospects, products, evolving technologies, and new industries
– Brief insight into cannabis cultivators, manufacturers and other market participants related to the drug development industry and their key competitive landscape
– Information on the key merger and acquisition deals, partnerships, agreements and collaborations in the global CBD oil market
– Analysis of the current situation and forecast of possible outcomes of the cannabis market over the next five years
– Profile descriptions of major market participants, including Aurora Cannabis Inc., Canopy Growth Corp., Charlotte’s Web Holdings Inc., GW Pharmaceuticals and Tilray