Hemp-Derived CBD Oil Market Size, Share & Trends Analysis Report By Source (Organic, Inorganic), Application (Pharmaceutical, Food and Beverages, Others), Distribution Channel (Retail pharmacies, Online pharmacies, Others), Global Economy Insights, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 - 2031
Global Hemp-Derived CBD Oil Market industry was valued at US$ 1306.07 Million in 2022 and is projected to reach US$ 6536.64 Million by 2031, growing at a CAGR of 22.30% during the forecast period (2023-2031) according to a new report by IMIR Market Research.
Hemp, which is commonly regarded as Cannabis sativa with a total THC content in leaves and buds of less than 0.3% dry weight, is CBD produced from hemp. I want to be clear that the level of THC is the only difference between marijuana and hemp. For purposes of illustration, a fast calculation reveals that when hemp with 0.3% THC and 5.0% CBD is subjected to extraction, the finished product will include THC as much as around 6% of the CBD because the THC and CBD are extracted in essentially the same way. Other cannabinoids, leftover solvents, plant oils, herbicides, pesticides, and other organic compounds could be present in the extracted substance. The important thing to remember is that a hemp extract that hasn't been refined and tested will undoubtedly have some THC in it. In the US market, CBD is being developed as a widely used food supplement by the hemp industry, which is becoming known as "Big Weed." This industry is striving to make CBD much more than a supposed treatment. The hemp extract Charlotte's WebTM has received a lot of attention as a potential treatment for a variety of medical disorders, including seizures.
As more new businesses enter the market and offer comparable items, the market is getting more competitive. Consumers have bought these items despite their high cost due to the rising understanding of cannabidiol's therapeutic effects. Because they have a bigger profit margin, commercial shops are now concentrating on selling products made from cannabis. There are currently many health and wellness retailers selling CBD-based goods, including Walgreens Boots Alliance, CVS Health, and Rite Aid. CBD, a non-psychoactive substance derived from the hemp plant, is utilised in creams, snacks, oils, and tinctures, among other products. It is advertised for its alleged health advantages, which include easing pain and anxiety. The Sleep Rapid Rest Liposome and Sleep Gummies are two cutting-edge CBD products from Elixinol that are focused on providing support for sleep and were just announced for release in January 2022. In the former, CBN (cannabinol), CBD, chamomile, and lemon balm are combined in a special recipe. The Sleep Gummy, on the other hand, has 15mg of CBD and 2mg of CBN.
The Hemp-Derived Cbd Oil market research report comprises a thorough examination of the current and future scenario of this industry vertical. The research highlights major trends and opportunities, as well as challenges, for various segments and sub-segments, while broadening the company horizon. The study report also includes extensive information based on past and present patterns across several industry verticals to help find various expansion prospects. Throughout the forecast period, several estimations regarding market share, market size, and industry growth rate are presented. The research includes information on competitive analysis as well as consumption habits and pricing strategies depending on the Hemp-Derived Cbd Oil market.
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Hemp-Derived Cbd Oil Market. On the basis of historic growth analysis and current scenario of Hemp-Derived Cbd Oil market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Hemp-Derived Cbd Oil market. This further helps users with their developmental strategy.
This report examines all the key factors influencing growth of global Hemp-Derived Cbd Oil market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Hemp-Derived Cbd Oil market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, pricing strategies, innovation possibilities and much more.
The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The potential health advantages of CBD oil and its many uses, including pain treatment, anxiety alleviation, and skincare, are becoming more widely known. Currently a legal substance in Europe, cannabidiol (CBD) is sold in "high street shops," typically as CBD oil. However, there isn't a certain agreement among groups and healthcare experts in the United Kingdom (UK) on how to handle patients who use CBD. This is a significant issue since CBD, a component of "medical and recreational cannabis," is being supported by both the scientific community and the general public for use in treating physical and mental health issues. Given the foregoing, this study examines the attitudes and views of medical professionals regarding CBD. Sinsemilla has taken over the cannabis market in the UK, where it now accounts for about 80% of police cannabis seizures. However, CBD is now available in Europe, without a prescription, at "high street shops," as long as the preparation's THC content is less than 0.2%.
Even though the body of knowledge regarding the potential advantages of CBD oil was expanding, there were still not enough large-scale, carefully monitored clinical trials to provide conclusive proof of CBD's effectiveness in treating specific medical disorders. This restricted the medical community's use of CBD products.Knowing and verifying the composition of the substance being researched or used is a big difficulty for current research as well as for any customer in the present. Anecdotally, it was discovered that the "pure" CBD that was sent for testing had roughly 75% CBD. In Colorado, hemp-derived CBD may be added to the cannabinoids used in oils and edibles, as well as those sold at state-approved dispensaries, to help them achieve a 1:1 CBD:THC ratio. The purity of these items from the dispensary should be tested; nevertheless, CBD extracts from hemp may be supplied to cig or head shops without restriction or inspection. Any inquiry into CBD should be highly concerned with purity and composition, and customers should be no different.
There is a chance that CBD oil will be employed in medicinal settings as long as scientific research into its possible advantages continues. Pharmaceutical companies are investigating CBD-based treatments for a range of illnesses, opening up new growth prospects.The hemp extract Charlotte's WebTM has received a lot of attention as a potential treatment for a variety of medical disorders, including seizures.9 The Stanley Brothers' cultivar is said to have a high CBD concentration and was created especially for a little Charlotte, an epileptic patient.For those with neurological diseases, CBD may be helpful. According to a 2022 study Trusted Source, nabiximols (Sativex) spray, which contains both CBD and THC, may benefit MS patients with pain and muscle spasms.According to research published in 2017, CBD oil had some negative effects on children with Dravet syndrome but also reduced the frequency of their seizures.For instance, a study by 2020Trusted Source including 26 healthy men discovered that therapy with 600 milligrammes of CBD for 7 days resulted in significant short-term decreases in blood pressure compared to a placebo group. After 7 days, the impact was gone, nevertheless.
The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2022-2031 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
The global Hemp-Derived CBD Oil Market industry is segmented into four categories By Source, By Application, By Distribution Channel, By region.
The report also helps in understanding Global Hemp-Derived CBD Oil Market dynamics, structure by analyzing the market segments, and project the Global Hemp-Derived Cbd Oil Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Hemp-Derived CBD Oil Market make the report investor’s guide.
Study Period | 2020-31 |
Base Year | 2022 |
Estimated Forecast Year | 2023-31 |
Growth Rate | CAGR of 22.30 % from 2023 to 2031 |
Segmentation | By Source, By Application, By Distribution Channel, By Region |
Unit | USD Million |
By Source |
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By Applications |
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By Distribution Channel |
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By Region |
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The market for CBD Oil made from hemp is dominated by North America. Several players are increasing their hemp oil production facilities to meet the rising demand. One of the top cannabis producers, Canopy Growth, increased its licenced growing capacity to more than 2.4 million square feet in 2018, and it intends to extend it to 5 million square feet by the end of 2019. On the other hand, hemp oil's expanding use in the skincare and cosmetics industries is boosting the market's expansion. For instance, Marijuana Company of America, Inc. unveiled hempSMART, a new cosmetic product that contains 300mg of an industrial hemp-derived, non-psychoactive cannabinoid that is grown organically. This body cream contains a special blend of Ayurvedic herbs and botanicals along with CBD oil. For instance, according to Health Canada, hemp was grown for industrial purposes on over 77,800 acres in Canada in 2018. Additionally, as a result of the legalisation of cannabis, the market for CBD Oil made from hemp has seen a significant uptick, and the nation is now one of the main exporters of hemp throughout the world. For instance, according to the USDA Foreign Agriculture Service, it shipped 5,400 metric tonnes of hempseed in 2018 for almost $50 million.
With more than 200,000 acres of Chinese hemp acreage in 2017, China is the world's largest producer of hemp. The Chinese hemp market had a value of USD 1,100.0 million in 2017, according to estimates and analyses, with prospects for future market expansion and rapid and healthy movements in hemp cultivation and application. Chinese hemp is primarily used to make woven fabrics and consumer clothing in China. On the other hand, industrial hemp uses in the personal care, cosmetics, and nutritional products sectors have seized a sizeable portion of the Chinese hemp market. The smallest portion of the entire Chinese hemp market is accounted for by the CBD and product markets.
The CBD oil industry is rising most quickly in Europe. Hemp is advancing to become one of the quickest-evolving agricultural markets in Europe. According to the British Hemp Association, 33,000 hectares of industrial hemp were grown in Europe in 2016, a 30% rise from the previous year. The expansion is explained by the rising demand for hemp in the cosmetic, food, and beverage, and medicinal sectors. Furthermore, in the majority of the countries in the region, consuming CBD Oil made from hemp for recreational purposes is lawful. Switzerland, for example, allows the sale and consumption of CBD with THC levels up to 1.0%. Currently, growing R&D activities for harnessing the medical potential of CBD oil is bolstering the market growth. For instance, in 2016, the researchers at the.
The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions
The global Hemp-Derived CBD Oil Market was valued at USD 176 million in 2022. The market is expected to grow at a compound annual growth rate (CAGR) of 22.30 % from 2023 to 2031, reaching a value of USD 6536.64 million by 2031.
North America, particularly the United States, had the largest share in the global hemp-derived CBD oil market. The region's dominance was primarily due to the increasing legalization of hemp and CBD products, as well as the growing awareness of CBD's potential health benefits in various applications.
The driving factors for the global hemp-derived CBD oil market include increasing consumer awareness of CBD's potential health benefits, expanding legalization of hemp and CBD products in various regions, and the growing adoption of CBD oil in diverse industries such as health and wellness, cosmetics, and food and beverages.
The organic segment was the leading source in the global hemp-derived CBD oil market, and the pharmaceutical & personal care application segment held a significant position.
The major top five players in the global hemp-derived CBD oil market were Charlotte's Web Holdings, Inc., Medterra CBD, CBDistillery, Gaia Herbs, and Elixinol Global Limited.
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