Latest News- Cannabidiol (CBD) Oil Market: Marijuana derived CBD oil is expected to lead the Product segment during 2025-2029

The Cannabidiol (CBD) Oil Market is being driven by Growing consumption of cannabis among millennial population in developed countries

The Cannabidiol (CBD) Oil Market is expected to grow at a CAGR of 29.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8229.6 million. The global cannabis industry, specifically CBD oil, is experiencing significant growth due to the increasing legalization of marijuana for medicinal and, in some cases, recreational use. As of now, 30 U.S. states have legalized medicinal marijuana, while eight have approved its use for both recreational and medicinal purposes. Portugal became the world's pioneer in drug decriminalization in 2001, allowing the legal use of all types of drugs, including marijuana. More recently, Canada legalized marijuana for medicinal purposes in 2016. Other countries, such as Ireland, Jamaica, Australia, Germany, and South Africa, have also followed suit. This trend is expected to continue, driving the demand for CBD oil and other cannabis-derived products in the global market. 

Get more information on Cannabidiol (CBD) Oil Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Marijuana derived CBD oil
  • Hemp derived CBD oil
• Application
  • Pharmaceuticals
  • Personal care and cosmetics
  • Food and beverages
  • Wellness
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing consumption of cannabis among millennial population in developed countries
• Integration of CBD into mainstream industries
• Increasing number of new product launches

However, the market also witnesses some limitations, which are as follows:

• Adverse effects of CBD oil products owing to overconsumption
• Naive new vendors and lack of investment in cannabis and CBD oil industry
• Challenges associated with retail distribution channels

Benefits of Buying Global Cannabidiol (CBD) Oil Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Cannabidiol (CBD) Oil Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The CBD oil market is experiencing significant growth due to the legalization of cannabidiol in various regions and shifting consumer attitudes towards this compound. Key market drivers include the variety of uses for CBD-based products, which range from health and beauty items like tinctures, oils, body lotions, capsules, vaping devices, transdermal patches, and personal care items, to treatments and medications for pets and humans. Manufacturing processes, processing techniques, testing methodologies, and consumer-facing openness are also influencing the global CBD business. Producers are innovating to meet demand, with cannabis being a primary source of cannabidiol. Regulatory processes and government measures continue to evolve, impacting the production and sale of CBD-based consumer goods. Cannabidiol acids are also gaining attention for their potential benefits. Overall, the CBD market is diverse and dynamic, with new products and uses emerging regularly.

Market Research Overview

The Cannabidiol (CBD) oil market encompasses businesses engaged in the production and distribution of CBD-infused products. Technavio estimates the market size based on the consolidated revenue generated by these entities. This market scope excludes CBD oil producers for the pharmaceutical industry and manufacturers of equipment used in CBD extraction. Key growth drivers include the legalization of CBD in various regions for medicinal and recreational use, increasing consumer awareness of CBD's potential benefits for chronic diseases and related complications, and expanding product offerings, such as CBD oil for pets, health and beauty products, and edibles. The market's expansion is further fueled by evolving consumer attitudes towards CBD as a natural alternative for managing various health conditions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/