LONDON–(BUSINESS WIRE)–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.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions –
- What is a major trend for the market?
- Growing legalization of cannabis-based products is a major growth factor for the market.
- At what rate is the market projected to grow?
- The market will grow at a CAGR of over 32%.
- Who are the top players in the market?
- 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.
- What is the key market driver?
- The health benefits of CBD oil is the major factor driving the market.
- How big is the North American market?
- The North America region will contribute 37% of market share.
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.
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Health benefits of CBD oil has been instrumental in driving the growth of the market.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
CBD Oil Market 2020-2024: Segmentation
CBD Oil Market is segmented as below:
- Marijuana-derived CBD Oil
- Hemp-derived CBD Oil
- North America
- South America
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CBD Oil Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The 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 suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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CBD Oil Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist CBD oil market growth during the next five years
- Estimation of the CBD oil market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the CBD oil market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of CBD oil market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Marijuana-derived CBD oil – Market size and forecast 2019-2024
- Hemp-derived CBD oil – Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Growing legalization of cannabis-based products
- Exponential online retail growth
- Increasing frequency of mergers and acquisitions
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- 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.
- NuLeaf Naturals LLC
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.