CBD Hemp Oil Market Trends and Highlights
CBD Hemp Oil is derived from hemp and is increasingly becoming mainstream. This oil has been hogging the wellness industry’s spotlight in recent years due to its supposed range of health benefits. CBD hemp oil has the potential to be an even hotter health trend, and it is about to go off the deep end. This product offers a broader range of accessible health and wellbeing products, meeting the large consumers’ demand. The global CBD hemp oil market has been growing rapidly and its competitive landscape is expected to continue to evolve further. There’s a huge upside to this market, and regulatory perspective is not so stringent.
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As CBD is the next most prevalent cannabinoid, its application and demand have grown at a rapid pace in recent years. Market reports connected with the healthcare industry have been offered by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is projected to develop at a positive rate in the upcoming forecast period.
The flourishing CBD hemp oil market is not just a collaboration of growers and producers; instead, it is a conglomerate of science and technology. This is why, today, the CBD hemp oil market is arguably the fastest growing industry globally. The rapid growth of CBD hemp oil and its applications for medicinal purposes as well as in personal care products are driving the growth in this market.
CBD Hemp Oil Market Segmental Analysis
The segmentation of the CBD hemp oil market is carried out on the basis of application, region, product type, and distribution channel.
On the basis of product type, the market for CBD hemp oil has been segmented into
- vape oil
On the basis of application, the market is segmented into
- pain relief
- neurological disorder
- mood disorders
Based on distribution channel, the CBD hemp oil market has been segmented into
- medical marijuana dispensaries
- hospital pharmacies
- retail pharmacies
- e-commerce websites
The regions considered in the market are
- Latin America
- the Middle East
- Europe, Africa
- North America
- Asia Pacific
CBD Hemp Oil Market – Detailed Regional Analysis
The regional analysis of the CBD hemp oil market includes regions such as Latin America, Europe, Middle East, North America, Africa, and the Asia Pacific. The North American region holds a considerable share of the market and is expected to increase the traction in the impending years. The legalization of cannabis trade in countries like Canada has propelled the regional market on an ascendant growth trajectory. An extensive surge in the production of cannabis is predicted for the region, which is forecasted to expand the regional market in the coming few years. The market in the U.S. is also estimated to display noteworthy development in the imminent future. The factors supporting the growth of the CBD hemp oil market in the region are the widespread prevalence of chronic diseases, increasingly aging population, use of the oil for reducing neurological pain, etc. Meanwhile, the CBD hemp oil market in the Asia Pacific is expected to flourish in the forecast period. The substantial growth of countries such as China, India, and Japan are expected to drive the development of the market in the region.
CBD Hemp Oil Market Analysis by Top Major Players
Key players leading the global CBD hemp oil market include
- Folium Biosciences
- Canopy Growth Corporation
- Gaia Botanicals
- Medical Marijuana
- CBD American Shaman
- NuLeaf Naturals
- Aurora Cannabis
Dec 2018 The US Congress has recently passed a bill that allows CBD products to be recognized as legal on the legislative level. The bill will allow the CBD products to be sold as products for consumers on retail store shelves. The bill also permits farmers to grow industrial hemp legally.
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