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Global CBD Oil Market Size, Share, Trends, Outlook, Forecast: By Type: THC Dominant, CBD Dominant, Marijuana Based, Hemp Based; By Product Type: Original, Blended; By Product Category: Unflavored, Flavored; By Application: Pharmaceuticals, Others; By Distribution Channel; Regional Analysis; Supplier Landscape; 2024-2032
Global CBD Oil Market Outlook
The global CBD oil market size was valued at USD 11.9 billion in 2023, driven by the increasing legalization of cannabinoids in various countries. The market size is anticipated to grow at a CAGR of 32.4% during the forecast period of 2024-2032 to achieve a value of USD 143.9 billion by 2032.
Global CBD Oil Market Overview
CBD oil has various therapeutic benefits, and it is widely used to reduce symptoms related to mental health disorders, including depression, anxiety, and schizophrenia. Researchers, through evidence-based studies and clinical trials, are increasingly exploring the benefits of CBD oil to relieve acute pain, treat digestive disorders and insomnia, and reduce symptoms associated with Parkinson’s disease, among others.
One of the significant CBD oil market trends is the growing legalization of cannabinoids in various countries. As countries like Austria, Canada, the United States, Germany, Switzerland, and the United Kingdom, among others, have legalized cannabinoids, and thus the recreational and personal uses of CBD oil are likely to surge in the forecast period.
The CBD oil market demand is being fueled by the growing awareness regarding the benefits of CBD, the rising trend of health and wellness, and the development of CBD oils with minimal THC levels.
Market Launches for Innovative Products
Rare Cannabinoid Company is thrilled to announce the launch of their groundbreaking product, THC + THCV Uplift Gummies. This new addition to their product line combines the dreamy feel of Delta-9-THC with the energizing, appetite-controlling effects of THCV, creating a one-of-a-kind experience for hemp and cannabis enthusiasts.
THCV (tetrahydrocannabivarin) is a natural, stimulating cannabinoid. The brand emphasized that the THC + THCV Gummies were designed to offer the positive benefits of Delta-9-THC without overwhelming sleepiness or hunger. The availability of these gummies in different flavors, keeping in mind the diverse preferences of individuals, and manufacturing them as a vegan product may trigger competitors to develop more products while including the diverse preferences of the consumers. This can further boost the global CBD oil market demand during the forecast period.
Rising Funding Activities to Aiding the Market
The market is anticipated to be influenced by several factors including funding activities to support market growth. In November 2023, Medicinal cannabis brand Cannarma raised undisclosed investment in a pre-seed round led by Praveen Kaushik (founder -Zero to One Fund) at a pre-money valuation of Rs 17 crore (USD 2.04 million).
Additionally, Amity Innovation Incubator has also backed the startup in this round. This funding is expected to play a crucial role in the market expansion of Cannarma products. Cannarma is a research and development organisation licensed by the Department of Ayush to manufacture and sell Ayurvedic goods such as CBD oil, hemp seed oil, and medicinal cannabis, among others. The brand claims to manufacture high-quality items with the use of natural ingredients only. The funding will enable the brand to increase engagement with existing customers, increase market reach, and develop technology. The firm plans to expand its presence in over 10,000 medical stores, clinics, and hospitals across India, propelling the CBD oil market growth.
The backing from investors, including Amity Innovation Incubator, may enhance the credibility and legitimacy of the brand in the market which may further contribute to stable reliability among consumers and stakeholders, which is crucial in the emerging market of medicinal cannabis and CBD products.
Strategic Collaborations between Market Players
The market is expected to be driven by increasing strategic moves by market key players to fill crucial gaps in unmet needs in the domain. For instance, In October 2023, Cantourage Group SE (hereinafter “Cantourage,”), a leading European company for the production and distribution of medical cannabis, signed a long-term supply agreement for medical cannabis with the Swiss cannabis company Astrasana. Based on this agreement, Cantourage will make a selected range of a total of four high-quality medical flowers with a high THC content available starting immediately. Patients in Switzerland will be able to obtain medical cannabis flowers from the growers LOT 420, Green Karat, and Breathing Green from Canada.
The focus of Cantourage Group SE on producing cannabis-based medicinal preparations and drugs and this collaboration with Astrasana may play a crucial role in the CBD oil market. Due to the recent legalization of medical cannabis in Switzerland Astrasana is now open to a wide range of opportunities including the development of a range of CBD products including CBD oils. Origin of Cantourage which is Canada may also make this collaboration expand their goals and work on market reach expansion during the forecast period, bolstering the CBD oil market demand.
CEO of Astrasana showed excitement about partnering with Cantourage which will enable them to bring high-quality medical cannabis flowers with a high THC content to the Swiss market. This collaboration has marked a significant milestone for Astrasana in the supply of medical cannabis in Switzerland. With this collaboration, it is expected to fill a crucial gap of unmet medical needs and increasing demand for high-quality medical products.
Global CBD Oil Market Segmentations
Market Breakup by Type
- THC Dominant
- CBD Dominant
- Marijuana Based
- Hemp Based
Market Breakup by Product Type
- Original
- Blended
Market Breakup by Product Category
- Unflavored
- Flavored
Market Breakup by Application
- Pharmaceuticals
- Food and Beverages
- Gummies
- Chewing Gums
- Chocolate Bars
- Candies
- Bakery Products
- Cosmetics
- Others
Market Breakup by Distribution Channel
- Direct/B2B
- Indirect/B2C
- Hospital Pharmacy
- Retail Pharmacy
- Supermarkets
- Convenience Store
- Online Retail
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global CBD Oil Market Regional Analysis
North America is expected to dominate the global market for CBD oil during the forecast period of 2024-2032. The regional market is greatly influenced by the increasing prevalence of insomnia and other sleep disorders. The increasing legalization of cannabis in the region, robust consumer demand, and established industry infrastructure also contribute to the market growth. The increasing focus of market players on developing and introducing new cannabis products made out of medicinal cannabis is poised to bolster the CBD oil market growth during the forecast period.
For instance, In August 2023, Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis and consumer packaged goods company, debuted two new ready-to-drink carbonated beverages by its premium cannabis wellness brand, Solei. Introducing Mango Passionfruit and Dragonfruit Watermelon Sparkling CBD Beverages, Solei’s fresh and convenient offerings feature the non-intoxicating effects and key benefits of CBD with a mild dose of THC, alongside a burst of tropical flavors. Solei is a cannabis brand that designs products based on consumers’ needs for sensorial experiences.
Global CBD Oil Market: Competitor Landscape
In October 2023, Medterra, a leading provider of high-quality Hemp-Derived CBD products, announced its official launch on Amazon, the world's largest online marketplace. This strategic move marks a significant milestone for Medterra and opens new avenues for customers seeking premium Hemp products.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Charlotte’s Web
- Medterra CBD
- Green Roads
- Elixinol Wellness Limited
- Canopy Growth Corporation
- CBDistillery
- Cannabidiol Life
- Joy Organics
- Endoca
- Aurora Cannabis Inc.
- Lazarus Naturals
- Bluebird Botanicals
- Medical Marijuana, Inc.
- Nuleaf Naturals, LLC
- PharmaHemp
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product Type |
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| Breakup by Product Category |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global CBD Oil Market Overview
3.1 Global CBD Oil Market Historical Value (2017-2023)
3.2 Global CBD Oil Market Forecast Value (2024-2032)
4 Global CBD Oil Market Landscape*
4.1 Global CBD Oil: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global CBD Oil: Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Product Type
5 Global CBD Oil Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.2.1 Strengths
5.2.2 Weaknesses
5.2.3 Opportunities
5.2.4 Threats
5.3 Porter’s Five Forces Model
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Degree of Rivalry
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global CBD Oil Market Segmentation (2017-2032)
6.1 Global CBD Oil Market (2017-2032) by Type
6.1.1 Market Overview
6.1.2 THC Dominant
6.1.3 CBD Dominant
6.1.4 Marijuana Based
6.1.5 Hemp Based
6.2 Global CBD Oil Market (2017-2032) by Product Type
6.2.1 Market Overview
6.2.2 Original
6.2.3 Blended
6.3 Global CBD Oil Market (2017-2032) by Product Category
6.3.1 Market Overview
6.3.2 Unflavored
6.3.3 Flavored
6.4 Global CBD Oil Market (2017-2032) by Application
6.4.1 Market Overview
6.4.2 Pharmaceuticals
6.4.3 Food and Beverages
6.4.3.1 Gummies
6.4.3.2 Chewing Gums
6.4.3.3 Chocolate Bars
6.4.3.4 Candies
6.4.3.5 Bakery Products
6.4.4 Cosmetics
6.4.5 Others
6.5 Global CBD Oil Market (2017-2032) by Distribution Channel
6.5.1 Market Overview
6.5.2 Direct/B2B
6.5.3 Indirect/B2C
6.5.4 Hospital Pharmacy
6.5.5 Retail Pharmacy
6.5.6 Supermarkets
6.5.7 Convenience Store
6.5.8 Online Rerail
6.5.9 Others
6.6 Global CBD Oil Market (2017-2032) by Region
6.6.1 Market Overview
6.6.2 North America
6.6.3 Europe
6.6.4 Asia Pacific
6.6.5 Latin America
6.6.6 Middle East and Africa
7 North America CBD Oil Market (2017-2032)
7.1 North America CBD Oil Market (2017-2032) by Type
7.1.1 Market Overview
7.1.2 THC Dominant
7.1.3 CBD Dominant
7.1.4 Marijuana Based
7.1.5 Hemp Based
7.2 North America CBD Oil Market (2017-2032) by Product Type
7.2.1 Market Overview
7.2.2 Original
7.2.3 Blended
7.3 North America CBD Oil Market (2017-2032) by Country
7.3.1 United States of America
7.3.2 Canada
8 Europe CBD Oil Market (2017-2032)
8.1 Europe CBD Oil Market (2017-2032) by Type
8.1.1 Market Overview
8.1.2 THC Dominant
8.1.3 CBD Dominant
8.1.4 Marijuana Based
8.1.5 Hemp Based
8.2 Europe CBD Oil Market (2017-2032) by Product Type
8.2.1 Market Overview
8.2.2 Original
8.2.3 Blended
8.3 Europe CBD Oil Market (2017-2032) by Country
8.3.1 United Kingdom
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Others
9 Asia Pacific CBD Oil Market (2017-2032)
9.1 Asia Pacific CBD Oil Market (2017-2032) by Type
9.1.1 Market Overview
9.1.2 THC Dominant
9.1.3 CBD Dominant
9.1.4 Marijuana Based
9.1.5 Hemp Based
9.2 Asia Pacific CBD Oil Market (2017-2032) by Product Type
9.2.1 Market Overview
9.2.2 Original
9.2.3 Blended
9.3 Asia Pacific CBD Oil Market (2017-2032) by Country
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 ASEAN
9.3.5 Others
10 Latin America CBD Oil Market (2017-2032)
10.1 Latin America CBD Oil Market (2017-2032) by Type
10.1.1 Market Overview
10.1.2 THC Dominant
10.1.3 CBD Dominant
10.1.4 Marijuana Based
10.1.5 Hemp Based
10.2 Latin America CBD Oil Market (2017-2032) by Product Type
10.2.1 Market Overview
10.2.2 Original
10.2.3 Blended
10.3 Latin America CBD Oil Market (2017-2032) by Country
10.3.1 Brazil
10.3.2 Argentina
10.3.3 Mexico
10.3.4 Others
11 Middle East and Africa CBD Oil Market (2017-2032)
11.1 Middle East and Africa CBD Oil Market (2017-2032) by Type
11.1.1 Market Overview
11.1.2 THC Dominant
11.1.3 CBD Dominant
11.1.4 Marijuana Based
11.1.5 Hemp Based
11.2 Middle East and Africa CBD Oil Market (2017-2032) by Product Type
11.2.1 Market Overview
11.2.2 Original
11.2.3 Blended
11.3 Middle East and Africa CBD Oil Market (2017-2032) by Country
11.3.1 Saudi Arabia
11.3.2 United Arab Emirates
11.3.3 Nigeria
11.3.4 South Africa
11.3.5 Others
12 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Patent Analysis
13.1 Analysis by Type of Patent
13.2 Analysis by Publication Year
13.3 Analysis by Issuing Authority
13.4 Analysis by Patent Age
13.5 Analysis by CPC Analysis
13.6 Analysis by Patent Valuation
13.7 Analysis by Key Players
14 Grants Analysis
14.1 Analysis by Year
14.2 Analysis by Amount Awarded
14.3 Analysis by Issuing Authority
14.4 Analysis by Grant Application
14.5 Analysis by Funding Institute
14.6 Analysis by NIH Departments
14.7 Analysis by Recipient Organization
15 Funding and Investment Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Type of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Type of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Supplier Landscape
17.1 Charlotte’s Web
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Medterra CBD
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Green Roads
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Elixinol Wellness Limited
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Canopy Growth Corporation
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 CBDistillery
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Cannabidiol Life
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Joy Organics
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Endoca
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Aurora Cannabis Inc.
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Lazarus Naturals
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Bluebird Botanicals
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Medical Marijuana, Inc.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Nuleaf Naturals, LLC
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 PharmaHemp
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
List not exhaustive
18 Global CBD Oil Market – Distribution Model (Additional Insights)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.
Key Questions Answered in the Report
The market attained a value of about USD 11.9 billion in 2023 driven by the rising prevalence of sleep and mental disorders.
The market is anticipated to grow at a CAGR of 32.4% during the forecast period of 2024-2032 and is likely to reach a market value of USD 143.9 billion by 2032.
The market growth is driven by factors including the increasing prevalence of sleeping disorders, the growing legalization of cannabinoids, mental disorders such as depression, anxiety, and schizophrenia, market players introducing new products in the market, and strategic collaborations between key players.
The increasing funding activities in the market such as Cannarma, raising around USD 2.04 million, is a factor trend influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
There are THC dominant, CBD dominant, marijuana based, and hemp-based CBD oils.
There are original and blended products in the market.
Various product categories include unflavored and flavored products.
It finds wide application in pharmaceuticals, food and beverages, and cosmetics, among others.
Various distribution channels include direct/B2B, indirect/B2C, hospital pharmacy, retail pharmacy, supermarkets, convenience stores, and online retail, among others.
Key players involved in the market are Charlotte’s Web, Medterra CBD, Green Roads, Elixinol Wellness Limited, Canopy Growth Corporation, CBDistillery, Cannabidiol Life, Joy Organics, Endoca, Aurora Cannabis Inc., Lazarus Naturals, Bluebird Botanicals, Medical Marijuana, Inc., Nuleaf Naturals, LLC, and PharmaHemp.
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