Straits Research has released its comprehensive analysis on the global hemp-derived CBD oil market, projecting significant growth from USD 1,306.07 million in 2021 to an estimated USD 6,536.64 million by 2030. This represents a robust compound annual growth rate (CAGR) of 22.3% during the forecast period from 2022 to 2030.
Market Definition Hemp-derived CBD oil is extracted from industrial hemp plants, offering therapeutic benefits without psychoactive effects. The oil is widely used across various industries, including pharmaceuticals, personal care, and food and beverages, owing to its potential health benefits.
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Market Dynamics
Key Trends:
Increasing consumer awareness of CBD’s health benefits, including pain relief, anti-inflammatory properties, and mental health support.
Expansion of legal frameworks worldwide supporting the use of hemp-derived products, boosting market accessibility.
Market Drivers:
Rising demand for plant-based health products, driven by changing consumer preferences for natural and organic remedies.
Rapid growth in the pharmaceutical and personal care industries, leveraging CBD oil’s potential therapeutic applications.
Market Opportunities:
Growing investment in research and development to explore new CBD applications across various sectors, including skincare and dietary supplements.
Increasing adoption in emerging markets, particularly in Asia-Pacific, where regulatory landscapes are becoming more favorable.
Market Segmentation The hemp-derived CBD oil market is segmented as follows:
By Source:
Inorganic
Organic
By Applications:
Pharmaceutical & Personal Care
Food & Beverages
Others
By Distribution Channel:
Retail Pharmacies
Online Pharmacies
Others
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Key Market Players Leading companies shaping the hemp-derived CBD oil market include:
FOLIUM BIOSCIENCES
Tilray
CHARLOTTE’S WEB
Bluebird Botanicals
CBD American Shaman
Aurora Cannabis
Medix CBD ConnOils
Kazmira
CBDistillery
Regional Insights The hemp-derived CBD oil market is dominated by North America, primarily due to a well-established CBD industry and favorable regulatory policies. The Asia-Pacific region, on the other hand, is projected to experience the fastest growth during the forecast period, driven by increasing acceptance and legalization efforts in key countries.
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About Straits Research
Straits Research is a global market research and consulting company dedicated to providing actionable insights and tailored strategies. Our cutting-edge analyses empower businesses to thrive in dynamic market environments.
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