CBD Hemp Oil Market Report
The report on the Global CBD Hemp Oil Market is segmented By Application (Multiple Sclerosis, Depression and Sleep Disorders, Neurological Pain, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and Region. It also covers the COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global CBD hemp oil market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026.
The report on the Global CBD Hemp Oil Market is segmented By Application (Multiple Sclerosis, Depression and Sleep Disorders, Neurological Pain, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and Region. ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global CBD Hemp Oil Market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over 28.2% during the forecast period.
Figure: Global CBD Hemp Oil Market Size, 2020-2026 (USD Million)
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CBD is one of the many cannabinoids present in cannabis plants. It has been a traditional remedy for many years. CBD is a phytocannabinoid that is obtained from the plant known as Cannabis Sativa. CBD hemp oil is extracted from plants by crushing the plants or seeds. Pure CBD hemp oil has low THC content and unique nature. The oil contains various nutrients such as amino acids, terpenes, chlorophyll, and phytocannabinoids such as CBCV, CBD, CBN, among others.
Some of the major players operating in the global CBD hemp oil market are-
The market growth is majorly driven due to the rise in the need for plant-based pain relief medication as well as the prevalence of mood-related neurological disorders in the coming years.
By distribution channel, the CBD hemp oil market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
By region, the North America market garnered the largest market share in 2020 and is projected to grow at a healthy CAGR during the assessment period.
The COVID-19 pandemic has negatively impacted the CBD hemp oil industry due to collapsing daily operations, strict lockdown measures, and changing consumer behaviours in almost every industry across the globe. The market started witnessing a shortage in supply due to the nationwide shutdown of transportation and manufacturing in major raw material manufacturing countries. Furthermore, owing to supply chain disruptions in the US, the supply of other raw materials has been limited, thus disrupting the manufacturing, and in turn, the supply chain of CBD hemp oil.
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The following is a list of the customers that the CBD Hemp Oil market aims to convert the most:
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The CBD hemp oil market is expected to witness an impressive growth of 28.2% CAGR in the foreseeable future.
Aurora Cannabis (Canada), Folium Biosciences (The U.S), ENDOCA (Denmark), Gaia Herbs (The U.S), Medical Marijuana (The U.S), Elixinol (Australia), Canopy Growth Corporation (Canada), CBD American Shaman (The U.S), Aphria Inc. (Canada), NuLeaf Naturals (The U.S) and Isodiol (Canada) are among the key players in the CBD hemp oil market.
North America garnered the largest share in the CBD hemp oil market in 2020.
The hospital pharmacies segment held the highest share in the CBD Hemp Oil Market in 2020.
Rise in the need for plant-based pain relief medication, prevalence of mood-related neurological disorders, high prevalence of chronic diseases such as cancer and diabetes are the factors driving the growth of CBD hemp oil market.
CBD Hemp Oil companies, CBD Hemp Oil vendors, Hospitals, R&D centres & Pharmaceutical companies are the target audience in the CBD hemp oil market.