Global CBD oil Market

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 2024-2031

Report ID: SQMIG35I2319 | Region: Global | Published Date: October, 2024
Pages: 219 | Tables: 114 | Figures: 71

CBD Oil Market Competitive Landscape

The CBD oil market is characterized by intense rivalry among key players striving to capture a significant market share. Leading companies are consistently engaged in innovation, strategic partnerships, and product advancements to maintain their competitive edge. These industry giants leverage their extensive portfolios to offer a range of solutions encompassing Full-Spectrum CBD Oil, Broad-Spectrum CBD Oil and CBD Isolate. As the market witnesses rapid innovations, smaller players and startups also contribute by introducing niche solutions and innovative technologies, contributing to the dynamic and ever-evolving competitive dynamics within the market.

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

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Global CBD Oil Market size was valued at around USD 6.4 billion in 2022 and is expected to rise from USD 7.6 billion in 2023 to reach a value of USD 24.06 billion by 2031, at a CAGR of 15.5% over the forecast period (2024–2031).

The CBD oil market is characterized by intense rivalry among key players striving to capture a significant market share. Leading companies are consistently engaged in innovation, strategic partnerships, and product advancements to maintain their competitive edge. These industry giants leverage their extensive portfolios to offer a range of solutions encompassing Full-Spectrum CBD Oil, Broad-Spectrum CBD Oil and CBD Isolate. As the market witnesses rapid innovations, smaller players and startups also contribute by introducing niche solutions and innovative technologies, contributing to the dynamic and ever-evolving competitive dynamics within the market. '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'

One of the primary drivers propelling the global CBD oil market is the increasing consumer awareness and acceptance of CBD products. As the research has shown the benefits of CBD, consumers are actively seeking natural and alternative remedies for various health and wellness concerns, significantly accepting CBD products such as CBD oil and others. Additionally, increasing awareness of CBD’s therapeutic properties, combined with a changing societal approach toward cannabis, has led to a surge in demand for CBD oil across the world.

A key trend in the global CBD oil market is the ongoing diversification of product offerings to gather growing consumer preferences. Key players are expanding beyond traditional CBD oil solutions, capsules, and edibles, introducing a wide array of innovative CBD products. This diversification includes CBD-infused beverages, skincare products, cosmetics, pet products, and even pharmaceuticals. The trend is mainly driven by the recognition that consumers seek diverse systems of integrating CBD into their lifestyles, and they are described to products personalized for specific needs, such as relaxation, and skincare.

North America region currently stands as the leader in the global CBD oil market and emerged as the largest market region in 2022. The North America region’s dominant position is attributed to an increasing regulatory environment that holds the legal cultivation and sale of cannabis related products. The United States has witnessed a surge in consumer interest and tolerance of CBD, influencing significantly to the region’s market position and its share in the market. The continuous establishment and pre-established infrastructure, coupled with a growing awareness of CBD’s potential benefits, sets North America’s position as the leading market region.

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Global CBD oil Market

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