- CBD oil, derived from hemp or marijuana, is a key component in wellness, medical, and pharmaceutical products due to its non-psychoactive properties, offering benefits such as pain relief, anxiety reduction, and anti-inflammatory effects
- The surge in demand for CBD oil is fueled by growing consumer interest in natural health solutions, increasing legalization of cannabis-based products, and the convenience of diverse product formats such as tinctures, capsules, and topicals
- North America dominated the CBD oil market with the largest revenue share of 42.5% in 2024, driven by early legalization of hemp-derived CBD, high consumer awareness, and a robust presence of key industry players. The U.S. leads with significant growth in CBD product adoption, particularly in wellness and medical applications, supported by innovations from established companies and startups
- Asia-Pacific is expected to be the fastest-growing region during the forecast period, propelled by increasing acceptance of CBD products, rising disposable incomes, and growing urbanization
- The hemp segment dominated the largest market revenue share of 56.8% in 2024, driven by its legal status in many regions, including the U.S., Canada, and parts of Europe, where hemp-derived CBD with less than 0.3% THC is widely permitted
