CBD Oil Market to grow by USD 5.36 billion from 2022 to 2027; Aurora Cannabis Inc. and BIOTA Biosciences LLC emerge as Key Contributors to growth - Technavio
NEW YORK, Feb. 8, 2024 /PRNewswire/ -- The CBD oil market is to grow by USD 5.36 billion from 2023 to 2027 progressing at a CAGR of 27.63% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growing millennial population in key cannabis markets. The growing millennial population in key cannabis markets is a key factor driving the market growth.
Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download a Free Sample Report in minutes!
Millennials demonstrate a distinct consumer behavior in their preference for consuming cannabis products, particularly in the CBD Oil Market. This preference is driven by their inclination towards experimentation with different variants of cannabis(drugs), especially for recreational purposes, compared to older generations.
The CBD oil market covers the following areas:
CBD Oil Market 2023-2027 - Market Dynamics
Major Trend
The growth in the e-commerce industry is a major trend in the market. Increasing internet and smartphone usage enhances the convenience and adoption of online shopping by CBD Oil Market consumers. Additionally, secure transactions and cash-on-delivery options boost the online sales of cannabis-infused edible products.
Significant Challenge
The adverse effects of CBD oil products are significant challenges restricting market growth. The legalization of cannabis in any country carries risks, including the potential for overconsumption, which can lead to respiratory problems and health issues. Additionally, legalizing marijuana may lead to passive consumption by older individuals, presenting significant health risks, particularly for those with post-traumatic stress disorder (PTSD) and dystonia.
CBD Oil Market 2023-2027: Market Segmentation
The CBD oil market analysis includes end-user (medical, personal use, pharmaceutical, and wellness), product (marijuana-derived CBD oil and hemp-derived CBD oil), and geography (North America, South America, Europe, APAC, and Middle East and Africa)
- The market share growth by the medical segment will be significant during the forecast period. Doctors commonly prescribe CBD oil for treating various medical conditions. It proves effective in alleviating symptoms of post-traumatic stress disorder (PTSD) and Amyotrophic lateral sclerosis (ALS).
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View a Free Sample Report
Companies Mentioned
- Aurora Cannabis Inc.
- BIOTA Biosciences LLC
- CannazALL
- Cannoid LLC
- Canopy Growth Corp.
- CBD American Shaman LLC
- CV Sciences Inc.
- Elixinol
- Endoca BV
- Folium Biosciences
- Gaia Botanics
- Green Roads Inc.
- Happie Hemp Pvt. Ltd.
- Isodiol International Inc.
- Kazmira LLC
- Medical Marijuana Inc.
- NuLeaf Naturals LLC
- PharmaHemp d.o.o.
- Silver Shadow Ventures LLC
- Tilray Brands Inc.
Company Offering
Isodiol International Inc. - The key offerings of the company include CBD oil such as RapidCBD hemp oil.
Aurora Cannabis Inc. - The company offers CBD oil such as Aurora CBD drops.
BIOTA Biosciences LLC - The company offers CBD oil such as Biota premium CBD oil.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Related Reports
The cannabidiol (CBD) skin care market size is estimated to grow at a CAGR of 26.74% between 2022 and 2027. The market size is forecast to increase by USD 2,197.99 million.
The Cannabidiol market size is projected to increase by USD 23,023.51 million and the market size is estimated to grow at a CAGR of 16.28% between 2022 and 2027.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-User
Market Segmentation by Product
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
Share this article