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CBD Oil Market by Product and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 130
  • SKU: IRTNTR40147
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The CBD oil market share is expected to increase by USD 3.97 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 26.43%. The CBD oil market vendors are - Aurora Cannabis Inc., BIOTA Biosciences LLC, CannazALL, Canopy Growth Corp., CBD American Shaman LLC, CV Sciences Inc., Elixinol Wellness Ltd., Endoca BV, Folium Biosciences, Gaia Botanics, Green Roads of Florida LLC, Happie Hemp Pvt. Ltd., Isodiol International Inc., Kazmira LLC, Leafly Holdings Inc., Medical Marijuana Inc., NuLeaf Naturals LLC, Pharmahemp, Silver Shadow Ventures LLC, and Tilray Inc. among others. Furthermore, this CBD oil market research report extensively covers CBD oil market segmentation by:

  • Product - Marijuana derived CBD oil and Hemp derived CBD oil
  • Geography - North America, South America, Europe, APAC, and Middle East and Africa

What will the CBD Oil Market Size be During the Forecast Period?

CBD Oil Market Size

Download the Free Report Sample to Unlock the CBD Oil Market Size for the Forecast Period and Other Important Statistics

 

CBD Oil Market: Key Drivers, Trends, and Challenges

The growing millennial population in key cannabis markets is notably driving the CBD oil market growth, although factors such as adverse effects of CBD oil products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the CBD oil industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key CBD Oil Market Driver

  • One of the key factors driving growth in the CBD oil market is the growing millennial population in key cannabis markets. 
  • The consumption of cannabis products, particularly for recreational purposes, is quite popular among millennials. Also, the increased use of cannabis products among millennials is attributed to the fact that they are relatively more enthusiastic about trying out new variants when compared with older generations.
  • In July 2019, millennials (aged 23-38 years in 2019) numbered 72.1 million in the US. The US comprises the largest legal cannabis market in the world due to its liberal laws on marijuana.
  • In 2019, the country had a millennial population of 72.1 million, which is estimated to grow at a CAGR of 0.37% to reach 81.1 million by 2036.
  • The rising millennial population in Europe is also an encouraging sign for the global CBD oil market as this group forms the largest demographic cohort for cannabis product consumption. Therefore, the demand for CBD oil will continue to grow during the forecast period.

Key CBD Oil Market Trend

  • The growing legalization of cannabis-based products is a CBD oil market trend that is expected to have a positive impact in the coming years.
  • The legalization of marijuana has emerged as a rising trend, which is influencing many nations to decriminalize cannabis and legalize the use of marijuana for recreational and medicinal purposes. Currently, 30 states in the US have legalized marijuana for medicinal purposes, where eight states have been granted permission for the use of marijuana for recreational and medicinal purposes.
  • In 2001, Portugal legalized the use of marijuana; it is the first country in the world to allow the legal use of all types of drugs. However, more recently, in 2016, Canada legalized the use of marijuana for medicinal purposes.
  • In countries such as India, the Netherlands, Portugal, Israel, and Greece, the use of cannabis is legalized to some extent only for medicinal purposes. Therefore, several countries worldwide have begun accepting cannabis-based products as a recreational drug, thereby having a positive impact on the growth of the global CBD oil market during the forecast period.

Key CBD Oil Market Challenge

  • The adverse effects of CBD oil products will be a major challenge for the global CBD oil market share growth during the forecast period.
  • Legalizing cannabis in any country poses a great threat to its citizens as its over-consumption can lead to various respiratory problems and several health issues.
  • Until 2015, nearly 15 countries in the world allowed the sale of marijuana in the commercial market, and nearly 50% of the people under the age of 18 years in these countries had easy access to marijuana products. Therefore, the easy availability of marijuana and other related products such as CBD oil exposes the masses to the use, misuse, and abuse of the substances, which affects their lives in vast numbers.
  • Legalizing marijuana and cannabis products can further lead to the passive consumption of marijuana by older people, which can prove to be extremely harmful to their health. In this scenario, if cannabis-based products such as CBD oil is completely legalized in these nations, the consumption rates will grow, and public health will be compromised.
  • The several adverse effects related to CBD oil products are expected to hamper the growth of the global CBD oil market during the forecast period.

This CBD oil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global cannabidiol (CBD) oil market as a part of the pharmaceutical market.  Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the CBD oil market during the forecast period.

Who are the Major CBD Oil Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Aurora Cannabis Inc.
  • BIOTA Biosciences LLC
  • CannazALL
  • Canopy Growth Corp.
  • CBD American Shaman LLC
  • CV Sciences Inc.
  • Elixinol Wellness Ltd.
  • Endoca BV
  • Folium Biosciences
  • Gaia Botanics
  • Green Roads of Florida LLC
  • Happie Hemp Pvt. Ltd.
  • Isodiol International Inc.
  • Kazmira LLC
  • Leafly Holdings Inc.
  • Medical Marijuana Inc.
  • NuLeaf Naturals LLC
  • Pharmahemp
  • Silver Shadow Ventures LLC
  • Tilray Inc.

 

This statistical study of the CBD oil market encompasses successful business strategies deployed by the key vendors. The CBD oil market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Aurora Cannabis Inc. - Aurora Cannabis Inc. is a public company headquartered in Canada. It is a global company generating $192.49 million in revenues and limited information regarding its employee strength is available. Its revenue from the global CBD oil market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 

  • Aurora Cannabis Inc. - The company offers CBD oil products such as drift think Orange Squeeze 510 Vape, Make-Lush Pomegranate 510 Vape and Cherry Bomb 510 Vape. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The CBD oil market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

CBD Oil Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the CBD oil market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for CBD Oil Market?

CBD Oil Market Market segmentation by region

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38% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for CBD oil in North America. Market growth in this region will be faster than the growth of the market in the European, MEA, and APAC regions.

The growing awareness of the health benefits of CBD oil products and the increasing number of states legalizing the use of marijuana products in the US will facilitate the CBD oil market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The sudden outbreak of COVID-19 in 2020 limited the growth of the CBD oil market in the region. The first COVID-19-infected case in the US was reported on January 21, 2020. The unexpected outbreak of COVID-19 badly affected the global economy in 2020. . After the lifting of lockdowns due to the ongoing vaccination drives, CBD oil manufacturers in the region gradually recovered from the adverse effects of the restrictions and witnessed an increase in sales from Q4 2020 compared with the H1 of 2020. The growing penetration of hemp oil in e-commerce websites and advancements in production technologies such as microfluidizer technology is expected to drive the growth of the CBD oil market in the region during the forecast period.

What are the Revenue-generating Product Segments in the CBD Oil Market?

CBD Oil Market Segmentation

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The CBD oil market share growth by the Marijuana derived CBD oil segment will be significant during the forecast period. Marijuana-derived CBD oil products are only sold to consumers with a doctor's prescription as CBD oils are psychoactive and can cause nausea and dizziness. Marijuana-derived CBD oil products usually contain 3%-15% THC. Factors such as the increasing number of countries that are legalizing marijuana and the rising number of organized retailing outlets offering CBD oil-based products are estimated to drive the growth of this segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the CBD oil market size and actionable market insights on post COVID-19 impact on each segment.

 

CBD Oil Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 26.43%

Market growth 2022-2026

$ 3.97 billion

Market structure

Fragmented

YoY growth (%)

25.16

Regional analysis

North America, South America, Europe, APAC, and Middle East and Africa

Performing market contribution

North America at 38%

Key consumer countries

US, Canada, Germany, France, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aurora Cannabis Inc., BIOTA Biosciences LLC, CannazALL, Canopy Growth Corp., CBD American Shaman LLC, CV Sciences Inc., Elixinol Wellness Ltd., Endoca BV, Folium Biosciences, Gaia Botanics, Green Roads of Florida LLC, Happie Hemp Pvt. Ltd., Isodiol International Inc., Kazmira LLC, Leafly Holdings Inc., Medical Marijuana Inc., NuLeaf Naturals LLC, Pharmahemp, Silver Shadow Ventures LLC, and Tilray Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this CBD Oil Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive CBD oil market growth during the next five years
  • Precise estimation of the CBD oil market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the CBD oil industry across North America, South America, Europe, APAC, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of CBD oil market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 26: Chart on Comparison by Product
      • Exhibit 27: Data Table on Comparison by Product
    • 5.3 Marijuana derived cbd oil - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Marijuana derived cbd oil - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Marijuana derived cbd oil - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Marijuana derived cbd oil - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Marijuana derived cbd oil - Year-over-year growth 2021-2026 (%)
    • 5.4 Hemp derived cbd oil - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Hemp derived cbd oil - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Hemp derived cbd oil - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Hemp derived cbd oil - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Hemp derived cbd oil - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Product
      • Exhibit 36: Market opportunity by Product ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 South America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Canada - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 France - Market size and forecast 2021-2026
      • Exhibit 74: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Aurora Cannabis Inc.
              • Exhibit 89: Aurora Cannabis Inc. - Overview
              • Exhibit 90: Aurora Cannabis Inc. - Product / Service
              • Exhibit 91: Aurora Cannabis Inc. - Key offerings
            • 10.4 Canopy Growth Corp.
              • Exhibit 92: Canopy Growth Corp. - Overview
              • Exhibit 93: Canopy Growth Corp. - Business segments
              • Exhibit 94: Canopy Growth Corp. - Key news
              • Exhibit 95: Canopy Growth Corp. - Key offerings
              • Exhibit 96: Canopy Growth Corp. - Segment focus
            • 10.5 CBD American Shaman LLC
              • Exhibit 97: CBD American Shaman LLC - Overview
              • Exhibit 98: CBD American Shaman LLC - Product / Service
              • Exhibit 99: CBD American Shaman LLC - Key offerings
            • 10.6 CV Sciences Inc.
              • Exhibit 100: CV Sciences Inc. - Overview
              • Exhibit 101: CV Sciences Inc. - Business segments
              • Exhibit 102: CV Sciences Inc. - Key offerings
              • Exhibit 103: CV Sciences Inc. - Segment focus
            • 10.7 Elixinol Wellness Ltd.
              • Exhibit 104: Elixinol Wellness Ltd. - Overview
              • Exhibit 105: Elixinol Wellness Ltd. - Business segments
              • Exhibit 106: Elixinol Wellness Ltd. - Key offerings
              • Exhibit 107: Elixinol Wellness Ltd. - Segment focus
            • 10.8 Endoca BV
              • Exhibit 108: Endoca BV - Overview
              • Exhibit 109: Endoca BV - Product / Service
              • Exhibit 110: Endoca BV - Key offerings
            • 10.9 Gaia Botanics
              • Exhibit 111: Gaia Botanics - Overview
              • Exhibit 112: Gaia Botanics - Product / Service
              • Exhibit 113: Gaia Botanics - Key offerings
            • 10.10 Isodiol International Inc.
              • Exhibit 114: Isodiol International Inc. - Overview
              • Exhibit 115: Isodiol International Inc. - Product / Service
              • Exhibit 116: Isodiol International Inc. - Key offerings
            • 10.11 Medical Marijuana Inc.
              • Exhibit 117: Medical Marijuana Inc. - Overview
              • Exhibit 118: Medical Marijuana Inc. - Product / Service
              • Exhibit 119: Medical Marijuana Inc. - Key offerings
            • 10.12 NuLeaf Naturals LLC
              • Exhibit 120: NuLeaf Naturals LLC - Overview
              • Exhibit 121: NuLeaf Naturals LLC - Product / Service
              • Exhibit 122: NuLeaf Naturals LLC - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 123: Inclusions checklist
                • Exhibit 124: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 125: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 126: Research methodology
                • Exhibit 127: Validation techniques employed for market sizing
                • Exhibit 128: Information sources
              • 11.5 List of abbreviations
                • Exhibit 129: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              CBD Oil Market market growth will increase by $3.97 bn during 2022-2026.
              The cbd oil market market is expected to grow at a CAGR of 26.43% during 2022-2026.
              Technavio has segmented the cbd oil market market by product (Marijuana derived CBD oil and Hemp derived CBD oil) ,geography (North America, South America, Europe, APAC, and Middle East and Africa) , and geographic (North America, South America, Europe, APAC, and MEA).
              Aurora Cannabis Inc., BIOTA Biosciences LLC, CannazALL, Canopy Growth Corp., CBD American Shaman LLC, CV Sciences Inc., Elixinol Wellness Ltd., Endoca BV, Folium Biosciences, Gaia Botanics, Green Roads of Florida LLC, Happie Hemp Pvt. Ltd., Isodiol International Inc., Kazmira LLC, Leafly Holdings Inc., Medical Marijuana Inc., NuLeaf Naturals LLC, Pharmahemp, Silver Shadow Ventures LLC, Tilray Inc. are a few of the key vendors in the cbd oil market market.
              North America will register the highest growth rate of 38% among the other regions. Therefore, the cbd oil market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the cbd oil market market growth are:
              • growing Millennial population in key cannabis markets
              • Growing legalization of cannabis-based products
              The cbd oil market market vendors should focus on grabbing business opportunities from the marijuana derived cbd oil segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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