The global CBD Oil Market is expected to reach the value of USD 2,177.99 million by the year 2023, growing at a CAGR of 6.36% during the forecast period (2018-2023).
Cannabidiol (CBD) is a class of mixes which have been referred to reduce the pain and utilized as an agent in treating different medicinal disorders. CBD oil is an item which has gained prominence attributable to its anti-inflammatory properties. Expanding commonness of sicknesses, for example, fibromyalgia, glaucoma, and others have set off the interest for cannabis-based items. This can demonstrate to be a worthwhile opportunity for the CBD oil market to grow. Be that as it may, unfavorable impacts of CBD combined with severe guidelines limiting its utilization in different things can pose a higher challenge to market development.
The global CBD Oil Market is segmented on the basis of its products, applications, distribution channel, and regional demand. Based on its products, the market is divided into hemp-derived CBD oil and marijuana-derived CBD oil. On the basis of its applications, the market is segmented into pain relief, diabetes, fibromyalgia, neurological disorders, and mood disorders. Based on its distribution channels, the market is bifurcated into retail pharmacies, e-commerce websites, marijuana medical dispensaries, and hospital pharmacies.
Geographically, the global CBD Oil Market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
ENDOCA (The Netherlands), Bluebird Botanicals Ltd. (U.S.), IrieCBD (U.S.), Isodiol International Inc. (Canada), and Medical Marijuana Inc. (U.S.), Aurora Cannabis (Canada), Canopy Growth Corporation (Canada), CBD American Shaman (U.S.), CV Sciences Inc. (U.S.), Elixinol Global Limited (Australia), among others are some of the major players in the global CBD Oil Market.