The CBD oil market size is estimated to reach USD 5,361.32 million, progressing at a CAGR of 27.63% by 2027. The growing millennial population is a key factor driving the CBD oil market growth.
Don’t miss out the business opportunities in the CBD Oil Market. Unlock the Sample Report and gain crucial market insights that will benefit your business growth. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 755.97 million.
Browse Technavio's 162-page report and in-depth TOC on "CBD Oil Market by 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)."
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The CBD oil market structure is fragmented in nature and the vendors are deploying growth strategies such as acquisitions, product launches, and others to promote their businesses in the global market. Some of the major CBD oil market vendors are:
Based on geography, the CBD oil market is segmented across North America, South America, Europe, APAC, and Middle East and Africa. North America is projected to contribute 38% of the CBD oil market size by 2027. Factors such as the growing awareness of the health benefits of CBD oil products and the increasing number of states legalizing the use of marijuana products in the US are expected to drive the growth of the cannabidiol (CBD) oil market in North America during the forecast period.
The growing millennial population in key cannabis markets is a key factor driving the CBD oil market value.
The growth in the e-commerce industry is the major CBD oil market trend that will positively influence market growth.
Adverse effects of CBD oil products are a major challenge to the CBD oil market size.
Technavio’s research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the CBD oil market. Download the PDF Sample Report
YOY growth rate of the CBD oil market.
A diversified analysis of the market’s competitive landscape and detailed information about vendors.
Accurate prediction about upcoming trends and changes in consumer behavior across North America, South America, Europe, APAC, and Middle East and Africa.
Comprehensive details of factors that will impact the growth of CBD oil market vendors.