Los Angeles, October 22, 2019 – Cannabidiol oil (CBD Oil) is derived from the cannabis plant and is known for its medicinal and therapeutic properties. Growing awareness about CBD oil for treating a wide range of conditions has made it popular amongst the pharma industry in recent years. QY Research has recently added a report titled, “Global Cannabidiol Oil (CBD Oil) Sales Market”, predicting the growth opportunities in the global cannabidiol oil market.
The global cannabidiol oil (CBD oil) market was worth US$303 mn in 2018 and is expected to rise to US$2247 mn by the end of 2025, exhibiting a whopping CAGR of 33.55% during the forecast period of 2019 to 2025.
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Increased Usage of CBD in Medicine to Bolster the Global Cannabidiol Oil Sales Market
Rising awareness regarding health benefits of using of cannabidiol is fostering the growth of the market. Cannabidiol is highly demanded in pharmaceutical formulations due to its healing properties. Legalization of marijuana cultivation in various parts of the world is one of the biggest growth factors for the market. Increase in adoption of refined cannabidiol will drive the demand in long run. Cannabidiol is used in various skincare and cosmetic products such as sunscreens, oils, serums, cleansers, creams, and moisturizers owing to its anti-aging properties. It has been proven beneficial for treating medical conditions too, such as symptoms of sclerosis, anorexia, schizophrenia, epilepsy, sleep disorders, pain, and inflammation.
In addition, CBD is also being used in products such as dog treats, capsules, gummies, and beverages. The legalization of various cannabis-based products are providing significant opportunities for the end-user industries. Similarly, hemp-derived cannabidiol oil has also seen adoption in various sectors such as food & beverages, cosmetics, pharmaceuticals, and nutraceuticals. This rise in demand is due to its antioxidant, anti-seborrheic, and anti-inflammatory properties. Hemp-derived CBD in pet food is also rising in demand because CBD has effects on animals as it has on humans such as improving heart health, reducing inflammation, and pain.
In various places, CBD derived from marijuana has been legalized with prescription. CBD products such as smoking and vaping products are rising in demand in various places, especially in European markets. All of these factors are expected to bolster the growth of the global cannabidiol (CBD Oil) sales market.
Cosmetic Industry to Witness Rising Demand During the Forecast Period
The global cannabidiol oil sales market is segmented into type and application. The type segment is further divided into marijuana derived type and hemp derived type. The application segment is divided into cosmetic industry, food industry, and pharmaceutical industry. The cosmetic industry is expected to be the highest consumer of CBD oil due to its growing usage in anti-ageing products.
North America to Witness Rise Owning to Legalization of Cannabidiol Oil in the Region
The CBD Oil market is highly concentrated in North America and Europe because of supportive legal framework and higher production. Better research facilities and usage of CBD in wide range of medicines is projected to keep these regional markets in the lead. Mexico has the largest market for medicinal marijuana after Brazil, which is expected to boost the sales for North America in the coming years.
The key players operating in the Global Cannabidiol Oil Sales Market are Absolute Terps, Kazmira, The Lab, CW Hemp/ CW Botanicals, Freedom Leaf, Whistler, Green Road, Emblem Cannabis Oils, Medical Marijuana, Aphira, Folium Biosciences, Canopy Growth Corporation, HempLife Today, K.I.N.D. Concentrates, Cannavest, and Pharmahemp.
Green Lotus, recently acquired by Freedom Leaf, announced on 1st October 2019 its exclusive distribution agreement with Greenlane Holdings in United States. This partnership of Green Lotus will allow the large scale distribution through Greenlane’s broad distribution network. This distribution agreement will benefit three to four thousand potential new points for Green Lotus. The manufacturers are preferring retail pharmacies for distribution as they can easily provide the products to the consumers.
● Cannabidiol improves an individual’s health by interacting with endocannabinoid system of the human body therefore, its demand is increasingly rising.
● Cannabidiol oil has been approved by various regulatory bodies as it is used in the treatment of shakes and spasms caused by sclerosis.
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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