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The cannabidiol (cbd) oil market size is forecast to increase by USD 8.23 billion at a CAGR of 29.4% between 2024 and 2029.
The cannabidiol (cbd) oil industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
The marijuana derived cbd oil segment is estimated to witness significant growth during the forecast period.
CBD oil derived from marijuana is gaining popularity among consumers due to its broader range of therapeutic components, including cannabinoids, terpenes, and other chemicals found in the cannabis plant. Known as full-spectrum CBD oil, this product is believed to have an entourage effect, where the synergistic interaction of these components enhances the overall therapeutic benefits of CBD. The potential medicinal advantages of marijuana-derived CBD oil, such as pain relief, anxiety reduction, and potential anti-inflammatory properties, are driving demand for this product. As research progresses and more information becomes available, consumer acceptance of marijuana-derived CBD oil as a natural remedy for various health conditions continues to grow.
This trend is not limited to humans but extends to pets and health and beauty industries, with CBD-based products being used in medical therapies, cosmetics, and personal care items. The legalization of marijuana and CBD in several countries and regions is further fueling the global CBD business, leading to the development of new manufacturing processes and products, such as capsules, tinctures, transdermal patches, and inhalation devices. Governments and regulatory bodies are implementing measures to ensure health safety assurance and consumer-facing openness, while producers are focusing on Food Grade and Therapeutic Grade quality to cater to the evolving consumer attitudes.
The CBD industry is expected to continue growing, with key market drivers including the variety of uses, legalization of marijuana, and increasing consumer awareness and acceptance.
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The Marijuana derived CBD oil segment was valued at USD 637.50 billion in 2019 and showed a gradual increase during the forecast period.
North America is estimated to contribute 59% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The legalization of hemp-derived CBD in the US and Canada has brought regulatory clarity and market growth in these regions. In the US, the 2018 Farm Bill allowed for the legal production, sale, and distribution of CBD products, fostering regional market expansion. Simultaneously, Canada's legalization of recreational cannabis in 2018 created opportunities for the legal sale of CBD products, leveraging the country's established regulatory framework for cannabis and cannabis-derived products. The growing interest in health and wellness, coupled with a shift towards natural and holistic remedies, has fueled demand for CBD products as consumers seek alternatives to conventional medications.
This trend is not limited to humans; the pet industry has also shown interest in CBD-based products for animal health. CBD is used in various forms, including solid and liquid, for medical therapies, skincare products, and health and beauty applications. The global CBD business encompasses a wide range of products, from tinctures and capsules to topical treatments like transdermal patches and body lotions. Manufacturing processes include food and therapeutic grade, ensuring health safety assurance and consumer-facing openness. Key market drivers include legalization measures, consumer attitudes, and the variety of uses for CBD in industries like pharmaceuticals, health and beauty, and food and beverages.
Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The cannabidiol (cbd) oil market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the cannabidiol (cbd) oil market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, cannabidiol (cbd) oil market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
AMP Medical LLC - CBD Oil, such as Purity Seeker, is a popular choice for those seeking to enhance skin health. This all-natural solution effectively addresses various skin concerns, including acne and blemishes, by preventing their formation. Its wound healing properties expedite the recovery process, while soothing rashes and reducing redness. Moreover, it significantly boosts skin hydration and improves elasticity, resulting in a more youthful and radiant complexion.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The pharmaceutical business has witnessed a significant shift in consumer preferences towards natural and plant-based remedies, with CBD oil gaining popularity in various countries around the world. This trend is particularly noticeable in the health and beauty sector, where CBD oils are increasingly being used in skincare products due to their potential benefits in addressing related complications. The CBD market encompasses a wide range of products, including oils in both liquid and solid form, as well as tinctures, capsules, and transdermal patches. The variety of uses for CBD extends beyond human applications, with pet products also gaining traction in the industry.
Manufacturers are focusing on health safety assurance and consumer-facing openness to meet the growing demand for CBD-based products. The conventional medications market is experiencing increased competition from these natural alternatives, particularly in the treatment of chronic diseases. The regulatory processes surrounding CBD are evolving in various regions, with some nations leading the way in legalization and others implementing strict controls. The global CBD business is expected to continue growing, driven by key market drivers such as increasing consumer awareness and acceptance, as well as advancements in manufacturing processes. Cannabidiol acids are the raw materials used in the production of CBD products.
Producers are continually exploring new processing techniques to optimize yields and improve product quality. The CBD industry is also seeing innovation in delivery methods, with inhalation and topical applications gaining popularity. Consumer attitudes towards CBD are shifting, with many viewing it as a safer and more natural alternative to conventional medications. This trend is reflected in the increasing availability of CBD products in consumer goods stores, such as Ulta Beauty and Sephora. The legalization of marijuana in some regions has contributed to the growth of the CBD industry, with aerosol sprays and vaping devices emerging as popular delivery methods.
However, testing methodologies and quality control remain critical concerns for regulators and consumers alike. The CBD market is segmented into various categories, including food grade, cosmetics, and pharmaceutical applications. The inhaled sub-segment is expected to see significant growth due to its rapid onset of action and convenience. Byproducts of the cannabis plant, such as hemp, are also gaining attention in the industry due to their potential applications in CBD production. The regulatory landscape for CBD is complex and varies from region to region, making it essential for producers to stay informed and adapt to changing market dynamics. In , the CBD market is a dynamic and evolving industry, driven by consumer preferences for natural and plant-based remedies.
The trend towards CBD use in health and beauty applications is expected to continue, with innovation in manufacturing processes and delivery methods driving growth. Regulatory compliance and consumer safety remain critical concerns, making it essential for producers to stay informed and adapt to changing market conditions.
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Market Scope |
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Report Coverage |
Details |
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Page number |
201 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 29.4% |
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Market growth 2025-2029 |
USD 8229.6 million |
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Market structure |
Fragmented |
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YoY growth 2024-2025(%) |
22.3 |
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Key countries |
US, Canada, China, Japan, UK, India, Germany, South Korea, France, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Product
9 Market Segmentation by Application
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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