Report And Forecast For The Global CBD Oil Market 2023-28
Approximately USD 1,733.80 million on cannabinoids is forecast to be consumed by 2028, according to expert market research.
Approximately USD 1,733.80 million on cannabinoids is forecast to be consumed by 2028, according to expert market research.
ACCORDING TO A NEW REPORT BY EXPERT MARKET RESEARCH, the CBD oil market was valued at USD 373.44 million in 2022. By 2028, it is estimated that the need for cannabinoids will reach USD 1,733.80 million as health and wellness trends increase along with the legalization of cannabinoids.
It is well known for its therapeutic properties; Hemp is the source of CBD oil, a naturally occurring compound known as cannabidiol. There is no psychoactive effect from CBD (cannabidiol) compared to THC (tetrahydrocannabinol), which makes it one of the most attractive choices for anyone seeking the health benefits of cannabis without having to experience the "high." This oil is commonly consumed as part of a wellness regimen to ease the symptoms of Pain, depression, anxiety, and even seizures during epilepsy. It has also been noted that there has been research on CBD oil as a potential cure for symptoms relating to these ailments.
One of the most critical factors contributing to the growth of the global CBD oil market is the growing interest among consumers in products related to health and wellness. With increasing research pointing to the potential health benefits associated with CBD, consumers worldwide are becoming more receptive to including CBD oil in their daily routines to care for their health. The shift is particularly noticeable among population groups in North America and parts of Europe that can now easily access CBD products due to recent legal reforms.
With the global spotlight on mental health and well-being, CBD oil has mainly gained popularity over the past year, increasing the market demand globally. Due to its potential anxiolytic and antidepressant properties, it is considered one of the best alternatives to traditional pharmaceuticals. Natural remedies are on the rise among millennials and Gen Z populations. Many people are opposed to the side effects often associated with conventional medicines because of the side effects they cause. As a result, they tend to prefer natural remedies instead of traditional drugs because of that.
Notably, the beauty and cosmetics sector is opening up new avenues for CBD oil on the industrial front. With its potential anti-inflammatory and antioxidant properties, CBD is being touted as the next big thing in skincare regimes, from moisturizers and serums to sunscreens, thanks to its promise. Further contributing to the growth of the CBD oil market is the rising popularity of balms, lotions, and ointments that claim CBD's pain-relieving properties.
As the pet care industry recognizes CBD as a potential remedy for ailments afflicting pets, such as dogs and cats, CBD is also highlighted as a possible remedy. The number of CBD-infused pet products is on the rise, ranging from treats to tinctures, indicating that an ever-increasing number of consumers are turning to CBD as a natural solution to their pet's health concerns.
The wave of legalization and decriminalizing cannabis products in various regions accelerates CBD oil market growth. As countries and states adopt a more lenient stance on cannabis, the stigma around CBD oil is fading. There is a long-term benefit to consumers, researchers, and companies, who can conduct more comprehensive studies, resulting in more innovative products.
Global CBD Oil Market segments can be found based on
product application.
Product Breakdown
Application breakdown
Regional Market Breakdown
Global CBD oil companies are examined in the EMR report for their market shares, plant turnarounds, capacities, investments, and acquisitions and mergers.
According to Expert Market Research, some of the primary key players include:
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CBD, or cannabidiol, is a natural compound derived from the cannabis plant. Unlike THC, it does not produce psychoactive effects, making it a safe and legal option in many regions.
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CBD vaping has become a popular method for experiencing the benefits of cannabidiol (CBD) quickly and effectively.
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Anxiety can be a challenging experience, impacting focus, mood, and overall well-being. With many people seeking natural remedies to manage stress, CBD gummies have emerged as a popular solution.
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Joint pain can be a persistent problem due to arthritis, aging, or injuries. While traditional pain relief options like over-the-counter medications or prescription drugs can help, many people are turning to CBD cream as a natural alternative.
Cannabis contains over 100 different compounds, but THC and CBD are the two that stand out. However, these compounds are not referred to by the same name.
CBD, or cannabidiol, is a natural compound derived from the cannabis plant. Unlike THC, it does not produce psychoactive effects, making it a safe and legal option in many regions.
CBD vaping has become a popular method for experiencing the benefits of cannabidiol (CBD) quickly and effectively.
Anxiety can be a challenging experience, impacting focus, mood, and overall well-being. With many people seeking natural remedies to manage stress, CBD gummies have emerged as a popular solution.
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