USD 360.40 million
CBD Oil Market Size, Share, Growth Analysis, By Source Type(Hemp, and Marijuana), By Sales Type(B2B, B2C (Hospital Pharmacies, Online, Retail Stores)), By End Use(Medical (Chronic Pain, Mental Disorders, Cancer, Others)), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35I2319 |
Region:
Global |
Published Date: October, 2024
Pages:
219
|Tables:
114
|Figures:
71
CBD Oil Market Insights
CBD Oil Market size was valued at USD 7.6 Billion in 2023 and is poised to grow from USD 8.78 Billion in 2024 to USD 27.79 Billion by 2032, growing at a CAGR of 15.5% during the forecast period (2025-2032).
Market trends of the CBD oil industry are highly motivated by consumer preferences, emerging development of the industry and regulatory changes. The significant reason behind the growth of the global cannabidiol market is the mounting demand for use of CBD based products for purposes of healing and fitness. Another trend is increased acceptance and legalization of CBD products worldwide. The market for CBD oil is expanding further with increasing legalization on states allowing production, distribution, and cultivation of such hemp-based products, hence opening more avenues for manufacturers and retailers. Consumer preference also propels the market changes in the CBD oil industry.
Most people are on the lookout for natural or alternative solutions as they demand more goods such as CBD oils. One of the reasons for people acquiring CBD oil is for stress and anxiety relief, chronic pain relief, sleeping enhancement, among others. The market is expanding, considering the growing awareness of the possible therapeutic effects of CBD among various target demographic groups such as older people, baby boomers, and millennials. Product innovation and diversification are two important recent developments in the market for CBD oils. To accommodate a variety of consumer preferences and usage circumstances, producers are launching a broad range of CBD oil products, such as tinctures, capsules, topical creams, edibles, and beverages.
Market snapshot - 2024–2031
Global Market Size
Largest Segment
Natural
Fastest Growth
Blended
Growth Rate
15.9% CAGR
Global CBD Oil Market ($ Bn)
Country Share by North America (%)
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CBD Oil Market Segmental Analysis
Global CBD Oil Market is segmented by Source Type, Sales Type, End Use, and region. Based on Source Type, the market is segmented into Hemp, and Marijuana. Based on Sales Type, the market is segmented into B2B, B2C (Hospital Pharmacies, Online, Retail Stores). Based on End Use, the market is segmented into Medical (Chronic Pain, Mental Disorders, Cancer, Others), Pharmaceuticals, Personal Use, Wellness (Food & Beverages, Personal Care & Cosmetics, Nutraceuticals, Others). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Products Type
As per categorization by products type, the market is classified as natural, and blended. Among these, natural earned the largest share and continues to hold the dominant global CBD oil market share. Natural CBD oil products will come in all market lines with rigidity for health-freak users demanding plant-based, chemical-free products. Innovations focus on improvements in their extraction methods like CO2 and cold pressing to keep it pure and potent. These are organic wellness products which, being stressbusters and pain-relievers associated with improved sleep, are expected to enjoy further popularity. Emerging regulations will also help to reinforce their customer base through approvals and consumer trust toward natural labeling.
Blended CBD oil products are poised to be the fastest-growing segment in the global CBD oil market due to their tailored formulations and enhanced therapeutic potential. CBD is configured with other beneficial ingredients like essential oils, vitamins, or adaptogens for the greatest number of benefits such as relaxation, pain relief, or skin health. Natural multifunctioning products, such as this, entice a much wider audience, including wellness enthusiasts and specific health markets. In fact, personalizing products has also gained critical mass among consumers and is finding newer technologies in innovations and marketing, all creating animated growth in the competitive and evolving market landscape of CBD.
Analysis by Application
The pharmaceuticals segment dominates the global CBD oil market due to its proven efficacy in managing conditions like epilepsy, chronic pain, and anxiety. Innovation is on developing standardized, clinically valid formulations under strict regulatory requirements. The pharmaceutical companies are capitalizing on the therapeutic potential of CBD through its advanced drug delivery systems, such as capsules, sprays, and topical solutions for targeted relief. Growing recognition of CBD as a natural alternative to traditional medicines and increasing investments and clinical trial approvals by the FDA in products such as Epidiolex coupled to this dominance is what drives it. The consumer's trust in pharmaceutical-grade products effectively helps ensure these products remain in this rapidly growing market segment.
Cosmetic segment is set to be the fastest-growing segment in the global CBD oil market due to CBD's anti-inflammatory, antioxidant, and skin-soothing properties. The demand to use natural and sustainable beauty solutions drives innovations in skincare, hair care, and anti-aging products enriched with CBD. There are products, both premium and mass-market, distributed by brands that leverage the power of CBD as it has been said to reduce acne, dryness, and signs of aging. The wellness beauty trend and well-known celebrities in marketing campaigns put the cherry on top of CBD's beauty angle. As the regulations are retracting and enough studies evidence its efficiency, CBD cosmetics are solidifying their stake in the foundation of contemporary beauty and personal care industries.
Global CBD Oil Market By Products Type (%)
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CBD Oil Market Regional Insights
North America dominates the global CBD oil market due to favorable regulatory frameworks, high consumer awareness, and strong industry infrastructure. Though the 2018 Farm Bill legalized hemp-derived CBD, making it available in the U.S., this has pushed the market more robustly towards innovations and diversities. Alongside this, complete cannabis legalization in Canada enhances regional dominance. Consumer demand for wellness products, coupled with advanced retail networks like the e-commerce presence in the region, drives sales. Strong investments in research, coupled with prominent leading market players, keep North America in the vanguard of the CBD oil industry and international attention, benchmarks in terms of quality and innovation.
Europe is the fastest-growing region in the global CBD oil market due to increasing client acceptance, changing faces of regulation, and a hefty focus on natural wellness practices. Countries such as Germany, the UK, and Switzerland are fueling demand as they experience a rapid uptake of the CBD products, from heath care, cosmetics to nutraceuticals. The European Union’s classification of CBD as a novel food has streamlined product approvals, encouraging innovation and investment. Additionally, growing awareness of CBD’s therapeutic benefits and the expansion of online and retail channels are fueling adoption. Europe’s emphasis on sustainable, high-quality production further strengthens its position as a rapidly emerging CBD oil market.
Global CBD Oil Market By Geography
- Largest
- Fastest
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CBD Oil Market Dynamics
CBD Oil Market Drivers
Growing Consumer Awareness of Health and Wellness
-
Increasing consumer awareness regarding health and wellness benefits is expected to drive the global CBD oil market growth in the near future. The health-conscious consumer segments demanding natural remedies are also increasingly drawn to CBD oil's efficacy in alleviating anxiety, pain, and sleep disorders. This rising demand has fostered advanced product innovation that continues the market development of products applied in wellness, pharmaceuticals, and cosmetics.
Increasing Legalization and Regulatory Support
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The growth of the market is significantly fueled by the legalization of hemp-based CBD in prime regions like North America and sections of Europe. Backed by regulations, one can boost consumer confidence, investment in R&D, and gains in reach with as wide a variety of products using CBD oil as possible. The adoption of all these innovations places the market in a very strategic position for long-term sustainable growth and wider global reach.
CBD Oil Market Restraints
Complex and Varying Regulatory Frameworks
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The global CBD oil market is facing hard times. This is due to different and complex regulatory frameworks within different regions. There are variations in legal statuses, provisions relating to THC limits, and compliance requirements, all of which limit the expansion of the market. These variations create uncertainty for the manufacturers, and they end up reducing international trade to the extent of making slow developments in the entire industry.
Lack of Consumer Awareness and Misinformation
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Despite increasing interest, there have been very many people who would not be aware of the benefits of using CBD oil, while most others view it as unsafe and illegal or have the wrong impressions about it. With a lack of education, coupled with other societal stigma associated with cannabis-related products, market penetration is always difficult, especially in conservative or underdeveloped regions.
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CBD Oil Market Competitive Landscape
The competitive landscape of the global CBD oil market is marked by rapid innovation and strategic collaborations among key players. The leading players in the market include Charlotte's Web Holdings, CV Sciences, Aurora Cannabis, Canopy Growth Corporation, and Elixinol. These are some of the companies which are expanding their product portfolio, distributing their products wider, and chiefly fulfilling regulatory requirements. Competition propels development in quality, formulation, and branding for products. Strategic alliances and acquisitions only strengthen their global presence and increase growth in this fast-moving industry.
Top Player’s Company Profiles
- Medical Marijuana Inc.
- Cannoid, LLC
- Isodiol International Inc.
- ENDOCA
- Folium Biosciences
- Aurora Cannabis Inc.
- Pharmahemp d.o.o
- Elixinol Global
- CV Sciences
- Medterra CBD
- Charlotte's Web Holdings, Inc.
- Green Roads
- HempMeds
- Zynerba Pharmaceuticals, Inc.
- Pure Spectrum CBD
- Cura Cannabis Solutions
- Trulieve Cannabis Corp.
- Dixie Brands Inc.
- Charlotte's Web CBD
- Gencanna Global
Recent Developments
- In October 2024, Charlotte's Web Holdings has broadened the horizon of its products by launching a new line of skincare products containing CBD. This innovative line is designed to help deal with skin health issues such as acne and aging and has given further credence to the already-established company as a pioneer in applying wellness and beauty.
- In September 2024, In Europe, Aurora Cannabis entered the CBD market through an alliance with a top retailer. With this deal, it now distributes its premium CBD oil products throughout Europe's biggest countries, where there is a rising trend toward natural wellness solutions and demand for product promotion has considerably increased.
- In November 2024, Canopy Growth Corporation announced its striking success in the technology to excel in CBD extraction from the hemp plant to get highly efficient and more purified extraction of CBD oil. To focus on the rising demand for quality CBD products in pharmaceuticals and wellness, the innovation has strengthened the capability of Canopy to stay competitive.
CBD Oil Key Market Trends
- Surge in Demand for CBD-Infused Skincare Products: The global CBD oil market is escalating with a tremendous demand on CBD-enriched skincare products for consumers increasingly switching on their interest-their applications on CBD-based creams, lotions, and serums-to possess incredible features such as anti-inflammatory and anti-aging properties. Eventually, it is stimulating innovativeness in both beauty and personal care sectors.
- Expansion of CBD Oil in Pharmaceuticals: The biggest global CBD oil market trends is the incorporation of cannabidiol oil into pharmaceuticals. The clinical research supporting its use in treating epilepsy, chronic pain, and anxiety has given rise to new FDA-approved CBD medications and will be an important driver of opportunities in the medical cannabis arena.
CBD Oil Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, in conclusion, the global CBD oil industry is witnessing rapid growth driven by shifting consumer preferences towards natural wellness solutions, increasing product diversification, and expanding regulatory support. Innovations in both product types and applications, particularly in pharmaceuticals and cosmetics, are enhancing market potential.
Though North America retains its lead, Europe promises the fastest growth in the coming future. Regulatory setups and rising awareness among consumers reshape market dynamics into opportunities and challenges for manufacturers. The oil continues to grow with the increased legalization and demand for holistic health solutions as it continues to evolve.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.4 billion |
| Market size value in 2031 | USD 24.06 billion |
| Growth Rate | 15.5% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on CBD Oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on CBD Oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the CBD Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the CBD Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the CBD Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the CBD Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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