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

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Feb 08, 2024, 10:36 ET

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.

Technavio has announced its latest market research report titled Global CBD Oil Market 2023-2027

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.

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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

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