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

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.

On the other hand, Asia Pacific is continuously increasing its dominating presence in the CBD oil market which represents it as the fastest growing region in the market. While regulatory frameworks in the Asia Pacific region have traditionally been moderate, there is a noteworthy shift towards acceptance and evaluation of cannabis related products. Concurrently, Asia Pacific region represents a burgeoning opportunity, positioning itself as the fastest growing region in the regional landscape of the global CBD oil market influenced by changing regulatory landscapes, and a growing understanding of CBD’s potential benefits.