Global Cannabidiol (CBD) Oil Extract Market, By Source Type (Hemp, Marijuana), Extract Type (Full Spectrum Extracts, Cannabis Isolates), Extraction Method (Solvent Based, Non-Solvent Based), Distribution Channel (B2B, B2C), End Use (Medical, Personal use, Pharmaceutical, Wellness) – Industry Trends and Forecast to 2029
Market Analysis and Size
Cannabidiol (CBD) oil has largely gained popularity due to its effective use in treating pain arising from chronic injuries. Moreover, it is further effective in tackling inflammation, anxiety and insomnia and also helps to improve the physiological and cognitive functions in an individual along with regulation the mood, pain and memory. Cannabidiol (CBD) is one of 113 identified cannabinoids in cannabis plants and accounts for up to 40% of the plant's extract.
Global Cannabidiol (CBD) Oil Extract Market was valued at USD 7.94 billion in 2021 and is expected to reach USD 37.74 billion by 2029, registering a CAGR of 21.50% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Cannabidiol (CBD) oil extract (PFPE) is a low-molecular-weight fluorinated synthetic fluid. Cannabidiol (CBD) oil extract is non-toxic and non-flammable in its natural state. It is utilized in severe temperatures ranging from 80°C to 200°C. PFPE's molecular structure might be linear, branched, or a combination of both, depending on the application. Temperature resistance, lubricity, wear resistance, and fluid volatility are all provided by PFPE.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
By Source Type (Hemp, Marijuana), Extract Type (Full Spectrum Extracts, Cannabis Isolates), Extraction Method (Solvent Based, Non-Solvent Based), Distribution Channel (B2B, B2C), End Use (Medical, Personal use, Pharmaceutical, Wellness)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
Market Players Covered
Canopy Growth Corporation (Canada), The Cronos Group (Canada), Tilray. (U.S.), Hexo (Canada), CannTrust (Canada), Aurora Cannabis Inc. (Canada), GW Pharmaceuticals plc. (UK), VIVO Cannabis Inc. (Canada), Alkaline88, LLC. (U.S.), NewAge Inc. (U.S.), Cannara. (Canada), Dixie Brands (U.S.), KANNAWAY LLC. (U.S.), The Supreme Cannabis Company, Inc (Canada), CANNABIS Aphria (Canada), CURA CS, LLC. (U.S.), KAZMIRA (U.S.), Curaleaf (U.S.) and CannazALL (U.S.)
Cannabidiol (CBD) Oil Extract Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Growing Awareness Regarding its Benefits
The increased awareness about the benefits of cannabidiol and its medicinal properties is inducing increased demand and application by the small and medium scale enterprises. Also, high adoption of hemp oil in pharmaceutical industries reduces body pain is a positive sign. This in turn is bolstering the growth of the market.
Furthermore, the factors such as surge in public-private funding for targeted research activities, high disposable income, rapid urbanization, changing lifestyles, and rising product innovations and development due to technological advancements worldwide boost the market value. Moreover, increased internet penetration, continued product development and commercialization, government supportive regulations for the use of cannabis-related products, particularly in developing nations, and rising per capita expenditure will all contribute to the market's future growth rate.
- Increased Funding And Research And Developmental Operations
Furthermore, the surging funding from the federal government pertaining to the research and development proficiencies coupled with the increasing number of technological advancements driven to minimize the production costs and wastage extend profitable opportunities to the market players in the forecast period 2022 to 2029. Additionally, the research and developmental operations directed towards sustainable development will ensure optimum and judicious use of resources, which will further expand the future growth of the cannabidiol (CBD) oil extract market.
- Issues Associated with Raw Material Prices and Availability
Fluctuations or volatility in the cost of raw materials and mechanical equipment pose a significant danger to the market's growth. Furthermore, the global cannabidiol (CBD) oil extract market's expansion is being hampered by the inconsistent availability of raw materials in one location.
- Norms, Standards and Regulations
The government's imposition of rigorous rules on a wide variety of industrial applications relevant to industrial activities will further slow the market's growth pace. Lack of standardization rules, a lack of awareness in backward economies regarding the benefits and high costs of cannabis products, and a shift in the demand-supply spectrum due to regulatory strengthening in the Asia-Pacific area would exacerbate the market position. As a result, these factors are estimated to challenge the cannabidiol (CBD) oil extract market growth rate.
In addition to this, the increasing competition and supply to meet rising demand and low-quality product development due to insufficient production equipment would further stymie market expansion.
This cannabidiol (CBD) oil extract market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cannabidiol (CBD) oil extract market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cannabidiol (CBD) Oil Extract Market
The recent outbreak of coronavirus had a negative impact on the cannabidiol (CBD) oil extract market. The pandemic had an impact on several manufacturing businesses in the years 2020-2021, resulting in the closure of workplaces, interruption of supply chains, and transit limitations. Several countries, including China, India, and Brazil, implemented a lockdown in this face, resulting in the stoppage of production and industrial facilities. The supply chain of various manufacturing units, as well as several table utilities around the world, were significantly affected during this period, resulting in a significant loss in revenues and earnings.
However, with the increasing relaxations, a rise in import and export is significantly expected. Respective governing authorities are beginning to lift these enforced lockdowns which is a positive sign for the market.
- In January 2021, Next leaf, has been granted a patent by the United States Patent and Trademark Office for a process that adds to the Company's dynamic and growing U.S. patent portfolio resulting in a solventless cannabis concentrate.
- In January 2021, Nano Hydrate unveiled product marketing services leveraging advanced technologies to provide natural healing through branding services of pharmaceutical-grade cannabidiol (CBD). Moreover, Nano Hydrate aimed to create a collaborative program that would allow them to introduce existing brands to the market for niche CBD products while expanding options for cannabis-infused beverages to the cannabis industry.
Global Cannabidiol (CBD) Oil Extract Market Scope
The cannabidiol (CBD) oil extract market is segmented on the basis of source type, extract type, extraction method, distribution channel, and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Full Spectrum Extracts
- Cannabis Isolates
- Solvent Based
- Non-Solvent Based
- Personal use
Cannabidiol (CBD) Oil Extract Market Regional Analysis/Insights
The cannabidiol (CBD) oil extract market is analyzed and market size insights and trends are provided by country, source type, extract type, extraction method, distribution channel and end use as referenced above.
The countries covered in the cannabidiol (CBD) oil extract 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 (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cannabidiol (CBD) oil extract market because of the growing application by pharmaceutical industries within the region.
On the other hand, Asia-Pacific is estimated to show lucrative growth due to the growth and expansion of hemp-producing plants, especially in the developing economies such as India and China.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cannabidiol (CBD) Oil Extract Market Share Analysis
The cannabidiol (CBD) oil extract market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cannabidiol (CBD) oil extract market.
Some of the major players operating in the cannabidiol (CBD) oil extract market are
- Canopy Growth Corporation (Canada)
- The Cronos Group (Canada)
- Tilray. (U.S.)
- Hexo (Canada)
- CannTrust (Canada)
- Aurora Cannabis Inc. (Canada)
- GW Pharmaceuticals plc. (UK)
- VIVO Cannabis Inc. (Canada)
- Alkaline88, LLC. (U.S.)
- NewAge Inc. (U.S.)
- Cannara. (Canada)
- Dixie Brands (U.S.)
- KANNAWAY LLC. (U.S.)
- The Supreme Cannabis Company, Inc (Canada)
- CANNABIS Aphria (Canada)
- CURA CS, LLC. (U.S.)
- KAZMIRA (U.S.)
- Curaleaf (U.S.)
- CannazALL (U.S.)