The global cannabidiol (CBD) oil market is a dynamic segment in the cannabis industry. CBD, a non-psychoactive compound from hemp, is renowned for its perceived therapeutic benefits. As an active metabolite of medicinal plants, CBD is a 21-carbon terpenophenol derived from hemp or synthesized through decarboxylation. In preclinical studies, CBD demonstrates minimal impact on conditioning or intracerebral personality stimulation, suggesting low abuse liability. Unlike THC, CBD doesn't replace it in animal drug discrimination models, and it exhibits no indications of violence or dependency propensity in humans. This underscores CBD's distinct pharmacological profile and potential as a therapeutic agent.
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Data Bridge Market Research analyses that the Global Cannabidiol (CBD) Oil Market which was USD 13.70 billion in 2022, is expected to reach USD 189.76 billion by 2030, and is expected to undergo a CAGR of 38.9% during the forecast period of 2023 to 2030. Shifts in cannabis sativa regulations and a surge in new products have blurred distinctions between hemp and CBD oils. Extracting different plant parts yields varied components, such as phytocannabinoids (THC, CBD) and terpenoids (e.g., b-caryophyllene). Growing demand in today's market is driven by the positive effects of these products for medicinal and recreational purposes.
Key Findings of the Study
The growing use of plant-based medicines across the world is expected to drive the market's growth rate
The surge in herbal solutions stems from plant-derived components believed to synergize for therapeutic effects. Factors driving this trend include claims of efficacy, consumer preference for natural therapies, renewed popular interest in herbal remedies, dissatisfaction with traditional medicines, and the belief in herbal drugs' effectiveness against specific diseases. Despite misconceptions, the growing use of plant-based medicine presents an opportunity for the global CBD oil market, as it aligns with the increasing demand for natural, holistic health solutions.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (THC Dominant, CBD Dominant, Marijuana Based and Hemp Based), Product Type (Original and Blended), Product Category (Unflavored and Flavored), Application (Food and Beverages, Personal Care/Cosmetics, Pharma and Nutraceuticals and Industrial Application), Distribution Channel (Direct and Indirect)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America
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Market Players Covered
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Charlotte's Web Holdings, Inc. (U.S.), Medterra CBD (U.S.), Green Roads (U.S.), Bluebird Botanicals (U.S.), Canopy Growth Corporation (Canada), Elixinol (Australia), CBDistillery (U.S.), Cannabidiol Life (U.S.), Joy Organics (U.S.), Endoca (Denmark), Aurora Cannabis Inc. (Canada), Lazarus Naturals (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global cannabidiol (CBD) oil market is segmented on the basis of type, product type, product category, application, and distribution channel.
- On the basis of type, the global cannabidiol (CBD) oil market is segmented into THC dominant, CBD dominant, marijuana based, and hemp based
- On the basis of product type, the global cannabidiol (CBD) oil market is segmented into original, and blended
- On the basis of product category, the global cannabidiol (CBD) oil market t is segmented into unflavoured, and flavoured
- On the basis of application, the global cannabidiol (CBD) oil market is segmented into food and beverages, personal care/ cosmetics, pharma and nutraceuticals, industrial application
- On the basis of distribution channel, the global cannabidiol (CBD) oil market is segmented into direct, indirect
Major Players
Data Bridge Market Research recognizes the following companies as the major global cannabidiol (CBD) oil market players in global cannabidiol (CBD) oil market are Charlotte's Web Holdings, Inc. (U.S.), Medterra CBD (U.S.), Green Roads (U.S.), Bluebird Botanicals (U.S.), Canopy Growth Corporation (Canada), Elixinol (Australia), CBDistillery (U.S.), Cannabidiol Life (U.S.), Joy Organics (U.S.)
Market Developments
- In April 2023, Kelvion took a significant step in environmental sustainability by expanding its industrial air cooler range. The new range is designed to accommodate natural refrigerants such as CO2, ammonia, or propane, supporting decarbonization efforts. These air coolers not only contribute to a greener operation but also offer cost efficiency. Aligned with the rising demand for eco-friendly refrigerants, the cubic and dual discharge air coolers cater to diverse applications in refrigeration plants, distribution centers, and food processing facilities
- In November 2021, VIVO Cannabis (T.M.) introduced the Beacon Medical (T.M.) high-dose CBD oil and pediatric care program, featuring a potent cannabis distillate named Beacon Medical 2:100. This CBD oil offers 100 mg of CBD with minimal tetrahydrocannabinol (THC), ensuring therapeutic benefits without psychoactive effects. The use of non-GMO, food-grade medium-chain triglycerides (MCT) as a carrier oil in the entire Beacon Medical oil line results in an odorless and flavorless final product, enhancing the overall user experience
- In September 2021, Aurora Cannabis, Inc. unveiled Biodiol, the first medical cannabis oil. With 3% and 10% CBD doses, it's available in 10mL and 30mL bottles, accessible in pharmacies nationwide. Uruguay's Ministry of Public Health certified Biodiol for treating refractory epilepsy in children and adolescents, marking a significant step in medical cannabis acceptance
- In January 2021, Nano Hydrate, a US-based company, unveiled innovative product marketing services employing cutting-edge technology for natural treatments with pharmaceutical-grade cannabidiol (CBD) branding. The company strategically entered the cannabis sector, aiming to offer cannabis-infused drink alternatives. Furthermore, Nano Hydrate sought to establish a partnership program facilitating collaborations with renowned brands to create specialized CBD products, signaling a strategic move towards diversification and capitalizing on the expanding market for CBD-infused products
Regional Analysis
Geographically, the countries covered in the global cannabidiol (CBD) oil market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in the global cannabidiol (CBD) oil market during the forecast period 2023-2030
North America dominates the global cannabidiol (CBD) oil market, propelled by progressive legalization, strong consumer demand, and a well-established industry infrastructure. The region's regulatory environment fosters market growth and heightened consumer awareness drives demand. With a mature industry framework, North America serves as a pivotal hub for CBD oil, setting the pace for market trends and innovations, and solidifying its position as a leader in the evolving landscape of cannabis-derived products
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