CBD Hemp Oil Market Share, Growth, Competitive Insight And Key Drivers, Research Report 2021 - 2030
The CBD Hemp
Oil Market is projected to reach USD 5,250 Million by 2030 at 17.02% CAGR
during the forecast period 2022-2030.
CBD hemp oil is
primarily utilized for its therapeutic benefits and stress relief, however, the
healing properties of the CBD hemp oil are found to be effective for the
regulation of the state of mind. Several psychological treatments include CBD
hemp oil as it is used in depression treatment. The increasing incidences of
neurological disorders are also stimulating the overall growth of CBD Hemp Oil Market Outlook value.
Segmental
Analysis
The segment
analysis of the CBD
Hemp Oil Market Trends is based on distribution channel, product type, and
application.
·
The product type-based
segments of the CBD hemp oil market are spray, vape
oil, and tincture among others. The rise in application of vape oil can earn
high returns for the market in the years to come. The growing utility of
tincture can bolster its segment rise. The high utility of tincture to prompt
market expansion in near future.
·
The application-based
segments of the CBD hemp oil market are mood
disorders, diabetes, neurological disorder, fibromyalgia, and pain relief among
others. The increase in cases of fibromyalgia and the rise in awareness about
CBD hemp oil for its cure can promote expansion of the fibromyalgia segment,
which, in turn, can work in favor of the market. Hectic and sedentary
lifestyle, along with lack of time for self-care, are observed to induce pain
in professionals. The increase in adoption of CBD hemp oil by both professional
and geriatric group for pain management can underpin the market expansion.
·
The distribution
channel-based segments of the CBD hemp oil market
are retail pharmacies, medical marijuana dispensaries, hospital pharmacies, and
e-commerce websites among others. The feasibility of distribution offered by
e-commerce services can bolster the CBD hemp oil market. The increase in number
of medical marijuana dispensaries can also contribute to the market rise in the
years to come.
Competitive
Dashboard
Cannoid,
Folium Biosciences, Elixinol, Gaia Botanicals, , ENDOCA, Medical Marijuana,
Canopy Growth Corporation, PharmaHemp, NuLeaf Naturals, , ENDOCA, Medical
Marijuana, Isodiol, CBD American Shaman, Aphria Inc., and Aurora Cannabis are some well-established CBD Hemp Oil Market Players that assessed
by MRFR.
Market
Driver and Restrains
Market Research
Future (MRFR) studied the global CBD hemp oil market report 2020 through the
review period till 2023. By 2023, the hemp oil market is expected to rise at
high CAGR to acquire considerable revenue. The large-scale prevalence of
chronic malaises is observed to catalyzed the demand for CBD hemp oil. The
increase in adoption of CBD hemp oil for medical applications, such as;
mitigation of stress relief, pain, treatment of anxiety and depression,
beneficial for heart health, diabetes prevention, acne reduction, and
alleviation of cancer symptoms can underline the market rise. The surge in
rising healthcare expenditure can work in favor of the CBD Hemp Oil Market Share in
the foreseeable future.
CBD hemp oil is
used extensively to treating patients with neurological disorders. The
expansion of neurological patient population can aid marketers capitalize for
decent revenue generation. Delta-9 tetrahydrocannabinol, a primary constituent
of CBD hemp oil, helps in boosting immunity. Thus, the growing sales of CBD
amidst COVID 19 outbreak is anticipated to promote the market.
The legalization
of cannabis in different region is another important factor contributing to the
rise of CBD hemp oil market. Innovations and developments introduced by key
players have revolutionized sales dynamics of CBD hemp oil can add momentum to
the market. The spreading awareness about CBD hemp oil content in body care and
nutritional supplement products can also influence the market.
Regional
Outlook
The regional
progress assessment of the CBD Hemp Oil Market span across Middle East &
Africa, and Asia Pacific, North America, Europe, Latin America, and North
America. MRFR study suggests that the CBD hemp oil market in North America can
thrive due to considerable traction in the years ahead. The authorization of
cannabis sale by manufactures in Canada can contribute to the rise of the
regional market. The substantial surge in the production of cannabis and demand
for hemp oil due to medicinal benefits can cause the US market to rise at rapid
pace.
The significant
expansion of the CBD hemp oil market in Europe can be attributed to the
large-scale prevalence of chronic diseases, application for reducing
neurological pain, and expansion of aging population. EU market is expected to
rise at considerable CAGR by 2025. In, Asia Pacific, the CBD hemp oil market
can register decent growth rate in the foreseeable future. The considerable
expansion of hep oil in APAC can be attributed to the robust production base in
the region. The rise in export activities can also add to APAC CBD hemp oil
market surge. The huge legal cultivation base of cannabis in the region and
extensive trading activities are forces that can drive the APAC market. The
prevailing culture of traditional medicine in the region can benefit the
market.
https://www.linkedin.com/pulse/herbal-medicinal-products-market-size-share-growth-trends-gupta
https://www.palup.com/read-blog/15253
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