CBD Hemp Oil Market: Global Opportunity Analysis and Industry Forecast, 2022-2029
CBD being closely related with cannabis is a non-psychoactive drug and has many health benefits. Rise in depression and stress has resulted in the need for a medicine, creating growth opportunities for hemp oil. The ongoing R&D activities and the proven positive results of CBD hemp oil when used against diverse diseases are paving way for the population to adoption of CBD hemp oil as a medication which is believed to surge.
CBD (cannaboidal) is one of the most prevalent of the active ingredients of cannabis (also called as marijuana). It is an important constituent of marijuana in medical field and it is extracted from the hemp plant, having a close resemblance with the marijuana plant. CBD hemp oil is a mixture of various chemical compounds which have clinical significance in treatment against a variety of diseases. It is extensively used in treatment of people suffering with neurological disorders.
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Companies covered
Cannavest, Pharmahemp, ENDOCA, BAFA Gmbh, Protect Pharma, Rakitovica, Biobloom Hemp, DragonflyCBD, MH medical hemp GmbH, Elixinol.
COVID – 19 scenario analysis:
The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
Over 4 million people affected globally, with 300 thousand losing their lives due to novel coronavirus
Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to CBD has been reduced and this segment have to face negligence subsequently
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Due to recent studies and subsequent research of various CBD substances brought to notice the importance of CBD hemp oil in medical industry. In 2017, the National Institute of Health backed around 330 projects with $ 140 million spent on cannabinoid and related studies. The ever rising prevalence of several infectious and chronic diseases like cancer, diabetes and arising health problems like depression, stress, lack of sleep and mental disturbance especially in the upcoming generation due to various factors like change in lifestyle is expected to boost the growth of CBD hemp oil market in coming years. Further, the use of hemp oil in numerous forms like spray, tincture and vape especially in the developed and developing economies is one of the major causes that would help the CBD hemp oil market growth. Its wide range of application against diverse diseases and various health benefits related with it such as pain relief, reduction in anxiety and depression, proven benefits when used as a topical ointment for treating skin problems and neuroprotective attributes results in increasing demand for CBD hemp oil all over and is expected to drive the growth of the market. The availability of CBD hemp oil increasingly on various e-commerce websites giving easy access to various customers and increasing adoption of hemp oil are going to have positive impacts on the global CBD hemp oil market for CBD hemp oil.
North America Emerges as the Largest Market for CBD Hemp Oil
Legalization of marijuana countries like the United States, increasing usage due to rising awareness of the health benefits of CBD Hemp oil, North American region is predicted to have immense growth with highest market share in the global market. The presence of industry players in the region is also having a promising impact on the market growth. Furthermore, the heavy funding for R&D activities and well-developed healthcare infrastructure are fueling the market growth for CBD hemp oil.
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Key segments:
Product
Organic source
Inorganic source
Application
Diabetes
Neurological disorders
Mood disorders
Pain relief
Others
Distribution channels
Retail pharmacies
E-commerce portals
Medical marijuana distributors
Hospital pharmacies
Others
Key benefits of the report:
This study presents the analytical depiction of the global CBD hemp oil industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global CBD hemp oil market share.
The current market is quantitatively analysed from 2020 to 2027 to highlight the global CBD hemp oil market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global CBD hemp oil market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the CBD Hemp Oil Market research report:
Who are the leading market players active in the CBD hemp oil market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that will help in taking further strategic steps?
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