Global Cannabidiol (CBD) Oil Market By Type (THC Major, CBD Major, Marijuana Based And Cannabis Based), Product Type (Basic And Blended), Product Category (Tasteless And Flavored), Application (Food And Beverages, Personal Care / Cosmetics), Pharma and Nutraceuticals and Industrial Applications), Distribution Channels (Direct and Indirect) – Industry Trends and Forecasts by 2029.
Global Cannabidiol (CBD) Oil Market Analysis and Sizing
Cannabidiol (CBD) oil is effective in treating pain caused by chronic injuries. It is more effective in treating bloating, anxiety and insomnia. It helps to regulate mood, pain and memory as well as improve a person’s physical and cognitive functions. Cannabidiol (CBD) is one of the 113 cannabinoids identified in cannabis plants and is part of up to 40% of plant extracts.
An analysis of Databridge Market Research shows that the cannabidiol (CBD) oil market is expected to pass a CAGR of 38.90% during the forecast period. This indicates that the market cap, which was USD 9.86 billion in 2021, will reach USD 136.64 billion by 2029. The cannabidiol (CBD) oil market is dominated by the “hemp-based” type segment of the market due to the improved acceptance of improved cannabidiol (CBD) products and various medical applications.
1- CBD has become big business, and it is poised to become huge and diverse
CBD sales in the US reached 6 4.6 billion in 2020, a significant number just two years after cannabis-derived cannabis was federally legalized. This growth is only expected to accelerate, with the US market growing from $ 15 billion to more than $ 20 billion by 2025 and 2024, according to two notable forecasts.
- Regulatory challenges remain, and Congress needs to clarify things
Despite being federally legal, I have noticed that CBD products still have difficulty obtaining capital and quality services from banks and other financial services institutions. And the ability to market CBD as a safe and effective substance is limited by how the FDA classifies it.
- Big Box Retail Access will drive sales while stabilizing and improving the supply chain.
Once companies can market CBD as a dietary supplement, it is my opinion that it will become mainstream in brick and mortar retail. In particular, the big box chains will offer a variety of topics and entries in a variety of product categories and applications.
4- More big names will enter the game by acquisition.
Large companies are reluctant to adopt CBD because its initial “Wild West” market is suffering from growing pains. But once the regulatory landscape clears and stabilizes, I’m sure many corporations will try to diversify their product lines with CBD and add new products that open the door to growth. Companies such as Procter & Gamble, Johnson & Johnson, Coca-Cola, Unilever and more could join the game, and will do so by acquiring existing CBD market leaders.
5-Education, quality assurance and security will skyrocket.
An all-time high in public education about cannabinoids would be in line with the mainstream of CBD. This will allow consumers to feel more confident and secure while purchasing smart regulated products.
Research shows that CBD oil can be used to treat a variety of skin conditions, such as acne, dermatitis and psoriasis. This is due to its potential anti-inflammatory, antibacterial and antioxidant properties.
People can either apply CBD oil directly to their skin, use it, or use topical beauty products, such as creams or lotions that contain CBD oil.