The cannabidiol (CBD oil) market is projected to grow at a CAGR of 38.90% and is projected to exceed $136.64 billion by 2030.

- Advertisement -

FARMINGTON, Jan. 09, 2023 (Globe Newswire) — Globalism Cannabidiol (CBD Oil) Market It is expected to be at a compound annual growth rate of 38.90% during the forecast period. This indicates that the market value, which was $9.86 billion in 2022, will reach $136.64 billion by 2030.. CBD comes from hemp or hemp, but it can also be made from hemp because it already has a lot of CBD in it. People often confuse this product with tetrahydrocannabinol (THC), which comes from the same plant but gets you high. Among other things, it can help treat anxiety, stop seizures, reduce inflammation, and relieve pain. As more cosmetic, food, and pharmaceutical companies begin to use it, the market is changing faster. As more people discover what the product can do for them, the market has a lot of room to grow.

Request a sample copy of the report.Cannabidiol (CBD Oil) Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Impact of Covid-19, SWOT Analysis, Competition and Forecast from 2022 to 2030Published by Contrive Datum Insights.

Recent developments:

• In January 2021, Nano Hydrate unveils product marketing services using advanced technology to provide natural healing through pharmaceutical-grade Cannabidiol (CBD) branding services. In addition, Nano Hydrate aims to create a partnership program that will expand the cannabis-infused beverage options in the cannabis industry while bringing established brands to market for specialty CBD products..
• In January 2021, Next Paper has been granted a patent by the US Patent and Trademark Office for a process to create a solvent-free cannabis concentrate, adding to the company’s dynamic and growing US patent portfolio.

In 2021, the marijuana segment accounted for more than 50.0% of market revenue. More and more people are using refined CBD products, and marijuana and products made from it are now legal for medicinal uses. The high potency of cannabidiol made from marijuana is also a major factor in the growth of this segment.

Story continues

During the forecast period, the cosmetics industry is expected to grow at a compound annual growth rate of 38.80%. Since hemp-derived oil has been shown to unclog pores, soothe inflammation, and moisturize, it is being used more and more in the cosmetic industry, such as cosmetics containing CBD oil. This is because hemp is becoming more legal and more research is being done on CBD.

Regional outlook:

In 2020, North America had the largest share of the cannabidiol market, valued at $1,276.7 million. Over the past few years, countries like the United States and Canada have begun to relax their laws on CBD products, which has made them more popular with people. The people who buy the stuff are always changing, and CBD is now in a lot of different things like food, drugs, and beauty products. People of all ages and genders are likely to spend more on goods because they want them more.

As people buy more non-tobacco products, sales of tobacco products, especially cigarettes, electronic cigarettes and edible products, are gaining a lot of steam in Europe. In North America, where the demand for these products is increasing, there is likely to be a lot of competition in the next few years.

Much of the market is in the Asia Pacific region, with countries like China, Japan and India building their markets for these products. Cannabidiol is becoming more legal and accepted as an ingredient in a wide range of products. This can give many companies new business opportunities. For example, in 2019, Thailand became the first country in Southeast Asia to legalize cannabis for medical and research purposes. It also made it legal to make clothing, fabric, and other items from hemp. The reason for the growth of the market is mostly due to how well the manufacturers know their customers and how well they market their products.

Buy this Featured Research Report @
https://www.contrivedatuminsights.com/buy/5462

Report Scope:

Market drivers:

CBD products are becoming more popular due to the rapid growth of hemp-based therapies, medications, and other consumer products, as well as their positive effects on health. The US Food and Drug Administration (FDA) has judged that CBD can offer a number of potential benefits and can be used in a wide variety of food and non-food products.

Market opportunity:

• The growth and expansion of the pharmaceutical industry
• The demand for hemp-based personal care products is growing
• Increased research and development opportunities.

Main sectors covered:

Top market players:
Aphria Inc. (Canada), Folium Biosciences (United States), Freedom Leaf, Inc. (US), Green Roads of Florida, LLC (US), Charlotte’s Web Holdings, Inc. (US), ENDOCA (Netherlands), CBD American Shaman (US) and CV Sciences, Inc. (USA) and Medical Marijuana, Inc. (US), Canopy Growth Corporation (US), Aurora Cannabis (US), MedMen Enterprises Inc. (United States) and Curaleaf Holdings, Inc. (US), Kazmira LLC (US), HempLife Today (US), Pharmahemp (Slovenia), Whistler Medical Marijuana Corporation (Canada), Absolute Terps (US), NuLeaf Naturals (US), Emblem Cannabis ( Canada), and others.

By types:

• It is derived from hemp
• It is derived from marijuana
• others

By applications:

• pharmaceutical
• Food and drinks
  • gum
  • gum
  • Chocolate pieces
  • Dessert
  • drinks
  • Dairy products
  • bakery products
  • Snacks
• makeup
• others

by distribution channel

Regions and countries covered

• North Amarica: (United States, Canada, Mexico and the rest of North America)
• Europe: (Germany, France, Italy, Spain, the United Kingdom, the Nordic countries, the Benelux Union, the rest of Europe)
• Asia Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, and the rest of Asia Pacific)
• Middle East and Africa: (Saudi Arabia, United Arab Emirates, Egypt, South Africa, rest of the Middle East and Africa)
• Latin america: (Brazil, Argentina and the rest of Latin America)
• the rest of the world

Check out more related studies published by Contrive Datum Insights:

• industrial chocolate market – The global industrial chocolate market was valued at USD 7.5 billion in 2021 and is expected to reach USD 10.79 billion by 2029, at a CAGR of 4.65% during the forecast period from 2022 to 2029. Europe is the leader in the industrial chocolate market Because more people want dark chocolate, more products are sold in stores, more attention is paid to textures for multi-sensory experiences, and people’s incomes are rising in the region.
• Make-up/cosmetics market – The global Makeup/Cosmetics market is expected to grow from USD 287.94 Billion in 2022 to USD 415.29 Billion in 2029, at a CAGR of 5.0% during the forecast period 2022-2029. The North American market is growing, which is a good sign. This is because people are getting better jobs and making more money, and they are also buying more luxury and high-end products.
• Chewing gum market The gum base market is expected to grow at a CAGR of 3.0% during the forecast period (2022-2030). Europe is likely to have a large share of the market because people are moving towards healthy snacks that are lower in sugar.
• The natural and organic makeup market – The global natural and organic cosmetics market is expected to grow at a significant rate of 9.76% from 2022 to 2030 to reach a market value of USD 33.04 billion by 2030. In terms of revenue share, North America has the largest market for natural and organic organic cosmetics worldwide .