2023-01-25 08:18:21

CBD Oil Market Expected to Grow US$ 15.66 Billion by 2028

Logo EIN Presswire
EIN Presswire

As a Complete Analysis report, it covers all details inside analysis and outlook according to The Insight Partners.

NEW YORK, UNITED STATES, January 25, 2023 /EINPresswire.com/ -- According to our latest market study, titled "CBD Oil Market Forecast to 2028 COVID-19 Impact and Global Analysis by Product Type, Application, Distribution Channel, and Geography," the market is expected to grow from US$ 2.42 billion in 2021 to US$ 15.66 billion by 2028. It is expected to grow at a CAGR of 31.2% from 2022 to 2028.

Report Segments:

Based on product type, the CBD oil market is segmented into marijuana-derived CBD oil and hemp-derived CBD oil. The marijuana-derived CBD oil segment registered a majority of business share in 2021 and is estimated to grow at a lucrative market pace during the forthcoming years. This is mainly due to the presence of high content of CBD and tetrahydrocannabinol (THC) in marijuana compared to Hemp.

Download PDF Sample Copy at:
https://www.theinsightpartners.com/sample/TIPRE00021104/

Based on application, the CBD oil market is segmented into pain relive, anxiety & depression, acne treatment, and others. The pain-relieving segment dominated the CBD oil market in 2021 mainly due to its modest benefits for chronic pain. Researchers suggested that CBD has benefits for relieving chronic pain, improving sleep, and reducing inflammation, but these effects are condition-specific. These factors are driving the growth of this segment.

Based on distribution channel, the CBD oil market is segmented into online distribution, pharmacies, and food & grocery stores. The offline distribution channel segment registered a majority of business share in 2021 and is estimated to grow at a lucrative market pace during the forthcoming years. This is mainly due to increased consumer confidence in offline purchases compared to online channels. Moreover, offline channels are mostly preferred by consumers with the increase in the penetration of counterfeit products. As the market is in its infancy, the offline distribution channel is expected to account for a larger proportion throughout the forecast period.

Top Companies Analysis:

1. Aurora Cannabis Inc.
2. Endoca
3. Medical Marijuana, Inc.
4. Nuleaf Naturals, LLC
5. Elixinol Global Limited
6. CV Sciences, Inc.
7. Canopy Growth
8. Bluebird Botanicals (Gaia Botanicals LLC)
9. Globalcannabinoids.IO
10. Folium Biosciences

Have a Call with Analyst:
https://www.theinsightpartners.com/speak-to-analyst/TIPRE00021104/

Moreover, advanced technologies, such as machine learning, artificial intelligence, and genetic engineering, have transformed the cannabis industry. Artificial Intelligence is a huge splash in the cannabis market. With the help of AI, players can optimize for environmental modifications and genetically modify the strains of the product. They can also adapt to the required CBD level and alter the genetic makeup of the plants to produce the types of strains that sell best.

Many startups are exploring how to use this technology to improve their ability to ship products worldwide. For instance, Eaze, a California-based company, utilizes technology to give cannabis deliveries via an app. They use the information by leveraging user data to help medical marijuana retailers forecast supply and demand and change inventory and delivery. Cannabase, another company, uses analytics to aid cannabis businesses in determining market trends, price fluctuations, and volume changes. It has been suggested that the costs of cannabis are likely to decline with the increase in competition, making it more important than ever for businesses to use big data to gain insight into competitors, choose the right sales techniques, and target the right markets during the forecast period. Moreover, genetic engineering is also making its way into the industry. One example is CanBreed, which is performing CRISPR editing to develop seeds.

The healing benefits of cannabidiol also provide opportunities for demand in health and wellness objectives and, therefore, are driving the CBD oil market's growth. Furthermore, the rising acceptance of cannabis among the population is also boosting the demand for cannabis-infused consumable products. The increasing popularity of recreational marijuana has led to the development of CBD-infused products, including confectionary and bakery products. The oil in the edible had the maximum demand due to customer preference. Customers mostly prefer sophisticated, discrete, and appealing methods of consuming their CBD supplements, creating many options to sell CBD edibles in various formats, such as beverages, gummies, and chocolate.

Buy Report at:
https://www.theinsightpartners.com/buy/TIPRE00021104/?utm_source=EINPressWire&utm_medium=10376

About The Insight Partners:

The Insight Partners is a one top industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Manufacturing and Construction, Technology, Chemicals and Materials.
We offer our clients multiple ways to customize research as per their specific needs and budget.

Contact us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-987

Sameer Joshi
The Insight Partners
+91 96661 11581
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Continue read on einpresswire.com

Logo EIN Presswire
Ethanol Market Industry The Global Ethanol market is projected to grow from USD 111.2 Billion in 2023 and reach USD 186.82 Billion in 2030, at a CAGR of 5.7%...

Logo PR Newswire
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "North America Virtual Pipeline Systems Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type,...

Logo PR Newswire
FELTON, Calif., Jan. 25, 2023 /PRNewswire/ -- The global industrial hemp market was valued at USD 4.13 billion in the year 2021 and is expected to value at...

Logo GlobeNewswire
EconomyPress Release2023-01-24 11:26:00
The global Oil and Gas EPC market size hit USD 46.60 billion in 2021. The market valuation is expected to increase from USD 49.58 billion in 2022 to USD...

Logo EIN Presswire
DataM Intelligence Market Intelligence report on Green Hydrogen Market by DataM Intelligence identifies a USD 200 billion opportunity by 2027 and estimates a...

Logo PR Newswire
NEW YORK, Jan. 24, 2023 /PRNewswire/ -- According to Technavio, the fracking water treatment market will witness a YOY growth of 4.06% between 2022 and 2023....

Logo PR Newswire
AutoPress Release2023-01-25 06:30:00
NEW YORK, Jan. 25, 2023 /PRNewswire/ -- The global connected car market size is estimated to increase by USD 172,767.39 million from 2022 to 2027. The...

Logo EIN Presswire
Market Research Reports, Business Consulting Services & Analytics Benzene Market size is estimated to reach US$75 billion by 2027 after growing at a CAGR...

Logo EIN Presswire
The Business Research Company's Ethylene Global Market Report 2023 : Market Size, Trends, And Global Forecast 2023-2032 The Business Research Company's...

Logo PR Newswire
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "Global Glycerin Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering....

Logo PR Newswire
AutoPress Release2023-01-25 07:00:00
NEW YORK, Jan. 25, 2023 /PRNewswire/ -- The global electric vehicle market size is estimated to increase by 25,927.15 thousand units from 2022 to 2027. The...

Logo PR Newswire
AutoPress Release2023-01-24 10:00:00
NEW YORK, Jan. 24, 2023 /PRNewswire/ -- According to Technavio, the global automotive aftermarket market size is estimated to grow by USD 164.58 billion from...

Logo PR Newswire
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "Cooling Water Treatment Chemicals Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type and...

Logo GlobeNewswire
EconomyPress Release2023-01-24 14:00:00
The growing adoption of electric vehicles worldwide that use rechargeable batteries, such as lithium-ion batteries, is driving the growth of the battery...

Logo PR Newswire
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "Discrete Semiconductor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027"...

Logo GlobeNewswire
EconomyPress Release2023-01-24 13:47:00
[115+ Pages Research Study] According to Polaris Market Research report, the global biorational market size & share expected to generate revenue cap of...

Logo PR Newswire
TechnologyPress Release2023-01-24 14:30:00
REDDING, Calif., Jan. 24, 2023 /PRNewswire/ -- According to a new market research report titled, ' Speech Analytics Market by Component, Application,...

Logo PR Newswire
NEW YORK, Jan. 24, 2023 /PRNewswire/ -- According to Technavio, the global coworking spaces market size is estimated to grow by USD 14,124.67 million from...

Logo GlobeNewswire
EconomyPress Release2023-01-24 14:35:00
[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of the Global Electric Aircraft...