Key Market Insights 

“Trends for CBD beauty and edibles is expected to drive the market” 

The CBD oil market is expected to grow at a CAGR of 32.5% during the forecast period from 2019 to 2027, starting from US$ 534.4 Mn in 2018. 

CBD oil-based products are gaining its popularity and consumers nowadays are becoming more inclined towards using CBD oil-based products for treating a number of health problems such as insomnia, chronic pain, anxiety, among others. The younger generation is more interested in trying new and buzzy trends and CBD beauty is one of those trend. Accordingly, CBD beauty has the potential of a larger growth. As per the research studies it is estimated that the CBD beauty industry will reach about US$ 25 billion by the year 2030. Moreover, CBD skincare will account for about 15% of the total skincare industry by the year 2030. In addition, it is estimated that about 67% of gen z and 62% of the millennial population is interested in CBD makeup. 

On account of emerging consumer interest in CBD based products, manufacturers are developing new and innovative CBD based products in the market. For instance, in February 2020, Vita Hemp Oil, Colorado-based company that manufactured CBD oil, launched a new product. The CBD Gummies are 100% natural and great source of vitamin C and aims to increase immunity. Moreover, the gums also help to reduce stress and anxiety. In December 2019, Canopy Growth Corporation USA, LLC launched a new product line. The First & Free is a hemp-derived     CBD product line that includes oil drops, softgels, and creams. Thereby, increases the demand for CBD oil. 

Application Analysis                                                        

“Introduction of Farm Bill by the U.S. Government drives the market growth” 

The medical & pharmaceuticals segment dominated the CBD oil market in the year 2018 and expected to continue its dominance during the forecast period. Due to resurge in patients' interest in using CBD for treating a variety of conditions such as cancer pain, depression, chronic pain, and neurological disorders drive the market growth. Moreover, research and development by various government organizations of CBD in medical fields also support market growth. National Institute on Drug Abuse (NIDA) is an agency that researches on cannabis-based products. Moreover, in 2017, the National Institute of Health (NIH) reinforced around 300 projects on the research and development of cannabinoid and spend around US$ 140 million. Additionally, in 2018, the first CBD based drug, Epidiolex was authorized by the U.S. Food and Drug Administration since then demand for CBD based medicine is increasing thereby, supports the market growth.

Regional Analysis 

“Rising number of research and development of CBD in medical treatments drive the market”  

North America dominated the CBD oil market in 2018 and expected to continue its dominance during the forecast period. Consumers in the North American region are more inclined towards using plant-based products. Thereby, increases the demand for CBD oil in the region. Furthermore, Farm Bill law, designed in December 2018, that removed cannabis plants and its derivative containing not more than 0.3% THC from the Controlled Substance Act, increases the demand for CBD oil in the region. 

“Asia Pacific is projected to grow at a considerable rate during the forecast period”

Asia Pacific is expected to grow at a noticeable rate during the forecast period due to various funding based research projects on treatments including CBD. For instance, Singapore, the world’s most stringent drug law country, is funding research on various medical treatments containing synthetically-derived compounds of the marijuana plant. Thereby, is one of the key factor supporting the growth of the market. 

List of Companies Covered:

• Canopy Growth Corporation
• CBD American Shaman
• NuLeaf Natural, LLC
• Medical Marijuana Inc.
• CV Sciences, Inc.
• Elixinol Global Limited
• Endoca
• Isodiol International Inc.
• Gaia Botanicals, LLC.
• Folium Biosciences
• Irie CBD
• PharmaHepm
• Aurora Cannabis Inc.
• Pure CBD Factory

Key Industry Developments: 

• In January 2020, Avon launched a new facial oil infused with CBD. The new Green Goddess Facial Oil is extracted from hemp and contains vitamins A, D, and E. The oil helps to relieve skin irritation and reduces redness. The Goddess Facial Oil is produced from 99% natural ingredients and is suitable for sensitive skin. 
• In January 2020, Super Natural Botanicals launched a new product line of CBD products in its product portfolio. The company offers a new CBD product line through its e-commerce platform. The new CBD product line includes various products such as drops, oil, creams, and vape juice.
• In February 2020, Colgate Palmolive entered in the hemp and CBD based products by acquiring Hello Products LLC. Colgate announced to acquire Hello Products LLC and thereby, launched a new collection of CBD oral care products. Hello Products LLC recently launched various CBD based products such as Lip balms and CBD mouthwash.

Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Market Segmentation 

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that give a better market understanding of the overall CBD oil market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths. 

Key questions answered in this report 

• What are the current market trends and dynamics in the CBD oil market and valuable opportunities for emerging players?
• What is driving CBD oil market?
• What are the key challenges to market growth?
• Which segment accounts for the fastest CAGR during the forecast period?
• Which product type segment holds a larger market share and why?
• Are low and middle-income economies investing in the CBD oil market?
• What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

TABLE 1 Market Snapshot: Global CBD Oil (CO) Market
TABLE 2 Global CO Market, by Type, 2017–2027 (US$ Mn)
TABLE 3 Global CO Market, by Application, 2017–2027 (US$ Mn)
TABLE 4 Global CO Market, by Distribution Channel, 2017–2027 (US$ Mn)
TABLE 5 Global CO Market, by Geography, 2017–2027 (US$ Mn)
TABLE 6 North America CO Market, by Type, 2017–2027 (US$ Mn)
TABLE 7 North America CO Market, by Application, 2017–2027 (US$ Mn)
TABLE 8 North America CO Market, by Distribution Channel, 2017–2027 (US$ Mn)
TABLE 9 North America CO Market, by Country, 2017–2027 (US$ Mn)
TABLE 10 Europe CO Market, by Type, 2017–2027 (US$ Mn)
TABLE 11 Europe CO Market, by Application, 2017–2027 (US$ Mn)
TABLE 12 Europe CO Market, by Distribution Channel, 2017–2027 (US$ Mn)
TABLE 13 Europe CO Market, by Country/Region, 2017–2027 (US$ Mn)
TABLE 14 Asia Pacific CO Market, by Type, 2017–2027 (US$ Mn)
TABLE 15 Asia Pacific CO Market, by Application, 2017–2027 (US$ Mn)
TABLE 16 Asia Pacific CO Market, by Distribution Channel, 2017–2027 (US$ Mn)
TABLE 17 Asia Pacific CO Market, by Country/Region, 2017–2027 (US$ Mn)
TABLE 18 RoW CO Market, by Type, 2017–2027 (US$ Mn)
TABLE 19 RoW CO Market, by Application, 2017–2027 (US$ Mn)
TABLE 20 RoW CO Market, by Distribution Channel, 2017–2027 (US$ Mn)
TABLE 21 RoW CO Market, by Country/Region, 2017–2027 (US$ Mn)
TABLE 22 Canopy Growth Corporation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 23 CBD American Shaman: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 24 NuLeaf Natural, LLC: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 25 Medical Marijuana Inc.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 26 CV Sciences, Inc.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 27 Elixinol Global Limited: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 28 Endoca: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 29 Isodiol International Inc.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 30 Gaia Botanicals, LLC: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 31 Folium Biosciences: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 32 Irie CBD: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 33 PharmaHemp: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 34 Pure CBD Facto.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 35 Aurora Cannabis Inc: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments