North America 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, Industrial Application), Distribution Channel (Direct and Indirect), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2027
\Market Analysis and Insights: North America CBD Oil Market
CBD oil market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 38.6% in the forecast period of 2020 to 2027and expected to reach USD 26,063,132.76 thousand by 2027. Increasing awareness and efficient distribution channel and easy availability is the factors for the market growth.
Legalization of medical and recreational use of CBD oil is augmenting the market growth. In the U.S., CBD oil is regarded as a schedule I drug that has now been legalized in almost all the countries. As of November 2018, in thirty three U.S. states, along with the District of Columbia, Puerto Rico and Guam legally allowed marijuana for personal medical use. Due to the legalization of the CBD oil products, the market has expanded and the sale of the product has now increased through various distribution channels. This acts as a driver in the growth of CBD oil market.
The major factor hindering the growth of the market is unclear regulatory environment. Unclear regulatory norms make the consumers use unregulated products of CBD oil from the black markets with unknown safety and quality which not only leads to customer dissatisfaction but also the production rate of the same CBD oil. The unclear regulatory environment for the usage of CBD oil products in different countries creates a scenario of confusion among the locals that restrains the CBD oil market growth in the concerned country.
This CBD oil market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the CBD oil market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
CBD oil market is segmented on the basis of type, product type, product category, application and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the CBD oil market is segmented into THC dominant, CBD dominant, marijuana based and hemp based. In 2020, CBD dominant is dominating in North America because easy of the availability of the CBD in the region.
- On the basis of product type, the CBD oil market is segmented into original and blended. In 2020, blended segment is dominating in North America because of easy availability of the CBD raw material in the region due to legalization in the country such as the U.S. and Canada.
- On the basis of product category, the CBD oil market is segmented into unflavoured and flavoured. In 2020, unflavoured will dominate the market due to increases use in the unflavoured for the recreation of the new product.
- On the basis of application, the CBD oil market is segmented into food and beverages, personal care/cosmetics, pharma and nutraceuticals, industrial application. In 2020, the pharma and nutraceuticals segment is dominating because of the huge consumption of hemp and CBD oil product increasing the manufacturing of pharmaceutical products.
- On the basis of distribution channel, the CBD oil market is segmented into direct, and indirect. In 2020, direct segment is dominating the because of increasing number of platform for the advisement of the product dominates the segment in the region.
CBD Oil Market Country Level Analysis
CBD oil market is analysed and market size information is provided by country, type, product type, product category, application and distribution channel as referenced above.
The countries covered in CBD oil market report are U.S., Canada and Mexico in North America.
- In North America, the U.S. is dominating the market due to rising awareness about the health benefits of CBD oil along with that growing trends of CBD spiked foods and beverages in the region is also augmenting the demand of CBD oil.
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 such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Use of Plant-Based Medicine in the CBD Oil Market
CBD oil market also provides you with detailed market analysis for every country growth in installed base of different kind of products for CBD oil market, impact of technology using life line curves and changes in infant formula regulatory scenarios and their impact on the CBD oil market. The data is available for historic period 2010 to 2018.
Competitive Landscape and CBD Oil Market Share Analysis
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, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to CBD oil market.
The major players covered in the report are Joy Organics., Isodiol International Inc., Gaia Herbs, ENDOCA, Diamond CBD, NuLeaf Naturals, LLC, CV Sciences, Inc., ConnOils LLC, Medical Marijuana, Inc. , FOLIUM BIOSCIENCES, IrieCBD, PureKana., CBD American Shaman., Canopy Growth, Elixinol Global Limited, Kazmira, Aphria and Curaleaf, among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of CBD oil market.
- In November 2019, Diamond CBD announces the offer in their beauty box that contains bath salts to body scrubs, edibles worth USD 2500. Through this offer, the company aimed to expand their product portfolio in the market. This development will help the company to increase revenue in near future.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company market in the CBD oil market which also provides the benefit for organization to improve their offering for CBD oil.
Customization Available: North America CBD Oil Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.