Global Cannabidiol (CBD) Oil Market – Industry Trends and Forecast to 2029

Global Cannabidiol (CBD) Oil Market, By Type (THC Dominant, CBD Dominant, Marijuana Based and Hemp Based), Product Type (Original and Blended), Product Category (Unflavoured and Flavoured), Application (Food and Beverages, Personal Care/Cosmetics, Pharma and Nutraceuticals and Industrial Application), Distribution Channel (Direct and Indirect) – Industry Trends and Forecast to 2029.

Global Cannabidiol (CBD) Oil Market Analysis and Size

Cannabidiol (CBD) oil is effective in treating pain arising out of chronic injuries. It is further effective in tackling inflammation, anxiety and insomnia. It 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.

• Data Bridge Market Research analyses that the cannabidiol (CBD) oil market is expected to undergo a CAGR of 38.90% during the forecast period. This indicates that the market value, which was USD 9.86 billion in 2021, would rocket up to USD 136.64 billion by 2029. “Hemp Based” dominates the type segment of the cannabidiol (CBD) oil market owing to the increasing acceptance of refined cannabidiol (CBD) products and various medical applications.

Global Cannabidiol (CBD) Oil Market Definition

Cannabidiol (CBD) is used a wide array of application owing to its medically proven beneficial properties. Cannabidiol (CBD) is the second monst prevalent active ingredient in marijuana. Cannabidiol is a phytocannabinoid that can be used in a wide range of personal care and cosmetic products as an active ingredient.

Report Scope and Market Segmentation

Cannabidiol (CBD) Oil Market Dynamics

Drivers

• Growth and expansion influenced the market growth

Growth and expansion of personal care and cosmetics industry promoted the direct and indirect growth of this market. This is because of the fact that cannabidiol is effective in treating skin in cases of swelling, pain, and redness from existing breakouts, or irritation from skin conditions like eczema and psoriasis.

• Growing awareness to direct the market demand and supply

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 as it reduces the body pain is a positive sign. This in turn is bolstering the growth of the market.   

• Rising research and development operations

Increased funding from federal government pertaining to the research and development proficiencies is also bolstering the growth of the market. Research and developmental operations directed towards sustainable development will ensure optimum and judicious use of resources, thereby improving the market value. 

Opportunities

• Rise in the technological advancements

Rising technological advancements pertaining to the manufacturing technology is further inducing growth in the market value. Increasing number of technological advancements driven with a view to minimize the production costs and wastage coupled with growth in industrialization has increased the use of hemp materials for numerous application is further ensuring a bright future for the market.

Furthermore, upsurge in the public-private funding for target research activities, high disposable income, rapid urbanization, changing lifestyles and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising internet penetration rate, ongoing product development and commercialization, growth in the favorable policies by the government of the application of cannabis related products especially in the developing economies and increasing per capita expenditure will further expand the market's growth rate in the future. 

Restraints/Challenges Global Cannabidiol (CBD) Oil Market

• Fluctuating prices 

Fluctuations or volatility in the prices of raw materials and machinery equipment is posing a major threat to the growth of the market. Further, uneven availability of raw materials at one particular location is demeaning the growth of the market.  Increasing competition and supply the increasing demand and low quality product development owing to inadequate manufacturing equipment will further derail the market growth rate.  

• Norms, standards and regulations

Imposition of stringent regulations by the government on a wide range of industrial applications pertaining to the industrial activities will further slowdown the market growth rate. Lack of standardization norms, lack of information in the backward economies about the benefits and high costs of cannabis products and change in demand-supply spectrum owing to strengthening of regulations in Asia-Pacific region will further worsen the market situation.

This cannabidiol (CBD) oil 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 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 Market

COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. Several countries such as China, India, Brazil and many more imposed lockdown in this face which led to the shutdown of production and manufacturing facilities. Since January 2020, the food service industry and other food industries, such as the bakery, liquor and dairy industries witnessed a slump in the revenue which in turn had an adverse impact on the market. Supply chain of numerous manufacturing units was adversely affected in this period along with several table utilities around the world were disrupted by the lockout leading to a major drop in the revenues and profits. 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. 

Recent Development

• In January 2021, Nano Hydrate, has 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.
• 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.

Global Cannabidiol (CBD) Oil Market Scope

The cannabidiol (CBD) oil market is segmented on the basis of type, product type, product category, application and distribution channel. 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.

Type

• THC Dominant
• CBD Dominant
• Marijuana Based
• Hemp Based

On the basis of type, the global cannabidiol (CBD) oil market is segmented into THC dominant, CBD dominant, marijuana based and hemp based. 

Product type

• Original
• Blended

On the basis of product type, the global cannabidiol (CBD) oil market is segmented into original and blended.

Product category

• Unflavoured
• Flavoured

On the basis of product category, the global cannabidiol (CBD) oil market is segmented into unflavoured and flavoured. 

Application

• Food and Beverages
• Personal Care/Cosmetics
• Pharma and Nutraceuticals
• Industrial Application

On the basis of application, the global cannabidiol (CBD) oil market is segmented into food and beverages, personal care/cosmetics, pharma and nutraceuticals and industrial application. 

Distribution channel

• Direct
• Indirect

On the basis of distribution channel, the global cannabidiol (CBD) oil market is segmented into direct and indirect.

Cannabidiol (CBD) Oil Market Regional Analysis/Insights

The cannabidiol (CBD) oil market is analysed and market size insights and trends are provided by country, type, product type, product category, application and distribution channel as referenced above.

The countries covered in the 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 (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, 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 market and will continue to flourish its dominance during the forecast period owing to the growing application by pharmaceutical industries. Asia-Pacific will however register the highest CAGR for this period 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 regulation in the market domestically that impacts 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 Market Share Analysis

The cannabidiol (CBD) oil 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 market.

Some of the major players operating in the cannabidiol (CBD) oil market are:

• Canopy Growth Corporation (Canada)
• The Cronos Group (Canada)
• Tilray. (US)
• Hexo (Canada)
• CannTrust (Canada)
• Aurora Cannabis Inc. (Canada)
• GW Pharmaceuticals plc. (UK)
• VIVO Cannabis Inc. (Canada)
• Alkaline88, LLC. (US)
• NewAge Inc. (US)
• Cannara. (Canada)
• Dixie Brands (US)
• KANNAWAY LLC. (US)
• The Supreme Cannabis Company, Inc (Canada)
• CANNABIS Aphria (Canada)
• CURA CS, LLC. (US)
• KAZMIRA  (US)
• Curaleaf (US)
• CannazALL (US)     

Research Methodology : Global Cannabidiol (CBD) Oil Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-cbd-oil-market