What is CBD Oil??? And Benefits of A Billion-Dollar Business
CBD, short for cannabidiol, is a chemical compound from the Cannabid sativa plant, whish is also known as marijuana or help, according to the US National Library of Medicine.
Cannabidiol (CBD) oil comes from the Cannabis plant and has become a popular alternative therapy for a range of conditions over the past few years. People report using CBD oil to help reduce pain, anxiety, and sleep disorders.
More than 60 percent of CBD users were taking it for anxiety, according to a survey of 5,000 people. Does it help?
CBD oil market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 38.4% in the forecast period of 2020 to 2027 and expected to reach USD 27,939,481.97 million by 2027.
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There is a high adoption of hemp oil in pharmaceutical industries as it reduces the body pain on a wider range and therefore it acts as a driver for the market.
- On the basis of type, the global CBD oil market is segmented into THC dominant, CBD dominant, marijuana based and hemp based. In 2020, CBD dominant will dominate the market due to increase use in the medical and pharmaceutical industries.
- On the basis of product type, the global CBD oil market is segmented into original and blended. In 2020, blended segment will dominate the market due to increased use in the CBD due to modification the product according to the need of the end user.
- On the basis of product category, the global CBD oil market is segmented into unflavoured and flavoured. In 2020, unflavoured will dominate the market due to increased use in the unflavoured for the recreation of the new product.
- On the basis of application, the global CBD oil market is segmented into food and beverages, personal care/cosmetics, pharma and nutraceuticals and industrial application. In 2020 pharma and nutraceuticals will dominate the market due to high adoption of CD products in various medicines.
- On the basis of distribution channel, the global CBD oil market is segmented into direct and indirect. In 2020, direct segment is dominating the market growth due to increasing number of platform for the advisement of the product dominates the segment in the region.
Rising Consumption of Powdered Form of CBD Oil due to Adhesion Properties
CBD oil market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in CBD oil and changes in regulatory scenarios with their support for the CBD oil market. The data is available for historic period 2010 to 2018.
What are the Major Benefits?
CBD may benefit a person’s health in various ways.
According to a 2018 study, reasons for taking CBD oil include:
- chronic pain
- arthritis or joint pain
- anxiety and depression
- sleep disorder
- migraine
- cluster and other headaches
- post-traumatic stress disorder (PTSD)
- nausea
- cancer
- allergies or asthma
- epilepsy and other seizure disorders
- multiple sclerosis (MS)
- lung conditions
- Parkinson’s disease
- Alzheimer’s disease
Latest Industry News
- In June 2020, Curaleaf launched a new cannabis capsules product for their customers which are easy to consume. Through this launch, the company aims to expand their product portfolio among consumers.
- In November 2019, Canopy Growth Corporation announced that they have received its operating and secure storage license from Health Canada in Smiths Falls, Ontario. Through this, the company aimed to fulfil the growing demand of its customers.