CBD Oil 2019 Global Market Expected to Grow at CAGR 39.19 % and Forecast to 2024

WiseGuyRerports.com Presents “Global CBD Oil Market 2017-2021” New Document to its Studies Database

CBD oil or cannabidiol oil is made by extracting cannabidiol from the cannabis plant. The cannabis plant is also referred to as hemp or marijuana, depending on the amount of THC (tetrahydrocannabinol) present in it. Marijuana contains THC as well as CBD. While THC causes one to feel ‘high’, CBD does not alter a person’s state of mind and is relatively safe to use. CBD or cannabidiol is a natural remedy for many common ailments. It can reduce chronic body pain and combat inflammation. Studies have shown that CBD alleviates sciatic nerve pain and inflammation and also eases pain caused by surgical incision. It also relieves muscle spasms and reduces pain during movement. Those suffering from pain associated with rheumatoid arthritis and multiple sclerosis also saw good improvement.

CBD oil is used by many for reducing anxiety and depression. Its antidepressant-like effects can effectively treat insomnia and nervousness. Studies reveal that CBD oil also alleviates cancer symptoms and the side effects related to the treatment. It eases cancer-related pain and chemotherapy-induced nausea and vomiting. It is also shown to inhibit the proliferation of harmful cells in the body. Researchers believe that CBD oil has neuroprotective properties that help deal with neurological conditions such as epilepsy and multiple sclerosis. It also supports heart health by reducing high blood pressure. The report gives a clear picture to the key players about the current market scenario and the future of CBD oil in the global market. According to report analysts, CBD oil market will grow at a CAGR of 39.19% during the forecast period.

Key Players

ENDOCA
• Gaia Botanicals
• Isodiol
• Medical Marijuana
Other prominent vendors
• Aurora Cannabis (AC)
• Cannoid
• CBD American Shaman
• Canopy Growth Corporation
• CV Sciences
• Elixinol
• Folium Biosciences
• IRIE CBD
• NuLeaf Naturals
• PharmaHemp

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Segmentation:

The global market for CBD oil is segmented into product types, applications, and distribution channels.

Based on product types, the market is divided into hemp-derived CBD oil and marijuana-derived CBD oil.

Based on applications, the market is divided into personal care and cosmetics, pharmaceutical, food and beverages, and others.

Based on distribution channels, the market is segmented into retail pharmacies, hospital pharmacies, online stores, and others.

Regional Analysis:

North America (The United States, Canada, and Mexico), Europe (Italy, Germany, France, Spain, the UK, and the rest of the region), Asia-Pacific (India, China, Japan, South Korea, Australia, and the rest of the region), Central and South America (Argentina, Columbia, and Brazil), and the Middle East and Africa (Turkey, Saudi Arabia, UAE, South Africa, and Egypt) are the main regions considered.

America dominates the global market for CBD oil, thanks to the increasing consumption of products containing cannabis in this region. Growing awareness about the many benefits of cannabis makes Europe the second-largest market for cannabidiol oil. The Asia-Pacific region is expected to grow at the fastest rate during the forecast period. This region stands third in the CBD oil market. The Middle East and Africa will witness less growth due to stringent government policies in the region and illegal use of marijuana.

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Industry News:

In June 2019, a key player in the global CBD oil market called Freedom Leaf, Inc. acquired Green Lotus Companies. This will help the organization enhance its products portfolio and distribution channels.

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