Technavio has been monitoring the CBD oil market and it is poised to grow by USD 3.52 billion during 2020-2024, progressing at a CAGR of over 32% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio has announced its latest market research report titled Global CBD Oil Market 2020-2024 (Graphic: Business Wire)
Download a Free Sample Report on COVID-19 Impacts
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Aurora Cannabis Inc., Canopy Growth Corp., CBD American Shaman LLC, CV Sciences Inc., Elixinol Global Ltd., ENDOCA BV, Gaia Botanicals LLC, Isodiol International Inc., Medical Marijuana Inc., and NuLeaf Naturals LLC are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
View market snapshot before purchasing
Health benefits of CBD oil has been instrumental in driving the growth of the market.
CBD Oil Market is segmented as below:
- Marijuana-derived CBD Oil
- Hemp-derived CBD Oil
- Geographic Landscape
- North America
- South America
CBD oil market report covers the following areas:
- CBD Oil Market Size
- CBD Oil Market Trends
- CBD Oil Market Analysis
This study identifies the growing legalization of cannabis-based products as one of the prime reasons driving the CBD oil market growth during the next few years.
Technavio’s SUBSCRIPTION platform