April 21, 2024

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Hemp-Derived CBD Oil Market Size is projected to reach USD

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Hemp-Derived CBD Oil Market Size is projected to reach USD

New York, United States, Aug. 23, 2022 (GLOBE NEWSWIRE) — CBD (cannabinoid) is extracted from cannabis hemp plant leaves, flowers, and stems using two extraction methods, i.e., by removing the CBD and turning it into an isolate and using full-spectrum CBD. Today, hemp-derived CBD oil is used in a range of applications, especially in the medical sector, for pain relief and treating arthritis, joint pain, neuropathic conditions, skin conditions, and other medical conditions. Apart from this, it is used in personal care, supplements, textile, and other industries.

After CBD, Cannabis, and hemp, being legalized in more and more regions are grabbing attention from e-commerce platforms in North America and Europe. Global trend leaning toward shopping for food products, nutritional products, cosmetic products, and pharmaceuticals on e-commerce websites and platforms is one of the significant factors for providing an impetus to the demand for hemp-derived CBD Oil. The Closedown of offline stores against the backdrop of COVID-19 has turned regular offline consumers towards online stores, aiding the increasing demand for hemp-derived CBD Oil on e-commerce platforms. According to our analysis, e-commerce websites across Asia-Pacific and North America have experienced 25{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} more traffic and a substantial rise in demand for cosmetic and nutritional products with hemp-derived CBD Oil. Hemp-derived CBD oil sales through e-commerce bring forth a number of opportunities for manufacturers to enhance their revenues and, subsequently, profit margins.

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Impact of COVID-19

As per our analysis, in the first quarter of 2020, the revenues of the hemp-derived CBD Oil manufacturers experienced a 60{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} to 80{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} increase in the revenue compared to the first quarter of 2019. We also studied factors such as tenures of national lockdowns, impact on hemp cultivation, impact on the supply chain, and availability of human resources. The first quarter of 2020 reported the most significant revenue, due to emergency stockpiling and growing supply through e-commerce platforms. A sharp decline in the prices and stocks of CBD and CBD-based products, including hemp-derived CBD Oil, also resulted in increased sales in the first quarter. Moreover, misconceptions in the market, such as CBD, help in the treatment of COVID-19, and consumption of CBD-based products such as oil reduces the chances of contracting COVID-19, began doing rounds. There are few shops in the U.S and the EU that are still operational amid the pandemic.

It is projected that the market will experience a downward trend in the second quarter due to the factors, such as shut down of businesses in a few parts of the world, lack of human resources in the cultivation, extraction, and production of hemp-derived CBD Oil, and a regulatory watch to avoid sales of the CBD based products (which also impacted the hemp-derived CBD Oil) for the wrong indications. The market is expected to gradually recover in quarter 3 and quarter 4, with the CBD hemp cultivation, extraction, and production becoming functional, considering the impact of the COVID-19 pandemic slows down. The market is expected to fully recover within the next two to three years (mid-2022 to 2023). With this, the global hemp-derived CBD Oil market was valued at USD 873.20 million in 2019 and is projected to grow with a CAGR of 22.3{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} to reach USD 3,348.32 by 2026.


Report Scope

Report Metric Details
Market Size USD 6.53 Billion by 2030
CAGR 22.30{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Source, Applications, Distribution Channel, Region
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors FOLIUM BIOSCIENCES, Tilray, CHARLOTTE’S WEB, Bluebird Botanicals, CBD American Shaman, Aurora Cannabis, Medix CBD ConnOils, Kazmira, CBDistillery
Key Market Opportunities growing acceptance of cannabis is offering lucrative opportunities for market growth
Key Market Drivers Growing awareness about the healing properties of CBD

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Market Highlights

  • The global hemp-derived CBD Oil market size was valued at USD 873.20 million in 2019 and is expected to grow at a CAGR of 22.3{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} during the forecast period, 2020–2026
  • Hemp-derived CBD Oil aid patients in the treatment of neurological diseases, such as multiple sclerosis and others.
  • Hemp-derived CBD Oil also helps in getting better sleep and reduces anxiety, depression, chronic pain, and inflammation.
  • North America dominated the global hemp-derived CBD Oil market in 2019, valued at USD 334.24 million, growing at a CAGR of 18.5{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d}.
  • The organic segment is growing at the fastest CAGR of 24.9{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} over the forecast period. Whereas, the inorganic segment registered the highest revenue, accounting for USD 473.57 million in 2019.
  • The online pharmacies segment, on the other hand, accounted for the largest market share of 62.1{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} in 2019.

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Major companies operating in the hemp-derived CBD oil market are

  • Tilray
  • Bluebird Botanicals
  • CBD American Shaman
  • Aurora Cannabis
  • Medix CBD ConnOils
  • Kazmira
  • CBDistillery

Market Segmentation

By Source

By Applications

  • Pharmaceutical and personal care
  • Food and beverages
  • Others

By Distribution Channel

  • Retail pharmacies
  • Online pharmacies
  • Others

By Region                                                                                                                                                                                   

  • North America
  • Europe
  • Asia-Pacific
  • Central, South America, and the Caribbean
  • The Middle East and Africa


1              Introduction

1.1          Market Definition

1.2          Market Scope

2              Research Methodology

2.1          Primary Research

2.2          Research Methodology

2.3          Assumptions & Exclusions

2.4          Secondary Data Sources

3              Hemp-Derived CBD Oil Market Insights

3.1          Market Segmentation

3.2          Industry Impact forces

3.2.1      Growth Drivers           Growing Applications of CBD Oil in Skincare Industry           Growing R&D Activities           Increasing Demand for Hemp-Derived CBD Oil via the E-Commerce platform

3.2.2      Industry Restraints and Challenges           Lack of Awareness and Stringent Government Regulations

3.3          Value Chain Analysis

3.3.1      Raw Material Collection

3.3.2      Manufacturing

3.3.3      Testing

3.3.4      Distribution & Sales

3.3.5      Post Sales Review

3.4          Supply Chain Analysis

3.4.1      Raw Material Collection

3.4.2      Production/Extraction & Distribution

3.4.3      Marketing & Sales

3.5          Overview of a Race to Dominate Supply Chain with Governments and Manufacturers as Participants

3.5.1      China to Dominate Hemp Industry

3.5.2      Europe: Presenting a Need to Establish Supply Chain

3.5.3      Canada: New Yet Fastest Growing Hemp Market

3.6          Cost Structure Analysis

3.7          Regulatory Framework

3.8          Porter’s Five forces Analysis

3.8.1      Bargaining Power of Buyers

3.8.2      Threat of Substitution

3.8.3      Threat of New Entrants

3.8.4      Competitive Rivalry

3.9          Market Lineage Outlook

3.9.1      Parent Market         Hemp-based CBD market

3.9.2      Ancillary Market         Industrial Hemp Market

4              Impact of COVID—19 on Global Hemp-Derived CBD Oil Market

4.1          North America

4.2          Europe

4.3          Asia Pacific

4.4          South America & Middle East & Africa

5              Global Hemp-Derived CBD Oil Market

5.1          by Region

6              Global Hemp-Derived CBD Oil Market by Source

6.1          Market Introduction/Trends

6.2          Inorganic

6.2.1      Market Estimates and Forecast, 2020–2030

6.3          Organic

6.3.1      Market Estimates and Forecast, 2020–2030

7              Global Hemp-Derived CBD Oil Market by Application

7.1          Market Introduction/Trends

7.2          Pharmaceutical & Personal Care

7.2.1      Market Estimates and Forecast, 2020–2030

7.3          Food & Beverages

7.3.1      Market Estimates and Forecast, 2020–2030

7.4          Other

7.4.1      Market Estimates and Forecast, 2020–2030

8              Global Hemp-Derived CBD Oil Market by Distribution Channel

8.1          Market Introduction/Trends

8.2          Retail Pharmacies

8.2.1      Market Estimates and Forecast, 2020–2030

8.3          Online Pharmacies

8.3.1      Market Estimates and Forecast, 2020–2030

8.4          Other

8.4.1      Market Estimates and Forecast, 2020–2030

9              Regional Overview

9.1          Introduction

9.1.1      Market Size &Forecast (Value)

9.2          America

9.2.1      North America           The U.S.               byType               byEnd User           Canada               byType               byEnd User           Mexico               byType               byEnd User

9.2.2      The Central, South America and the Caribbean           byType           byEnd User       Brazil           byType           byEnd User       Argentina           byType           byEnd User       Rest of Central, South America and the Caribbean           byType           byEnd User

9.3          Europe

9.3.1      Market Size &Forecast (Value)

9.3.2      Western Europe           The U.K               byType               byEnd User           Germany               byType               byEnd User           France               byType               byEnd User           Spain               byType               byEnd User           Italy               byType               byEnd User           Rest of Western Europe               byType               byEnd User

9.3.3      Eastern Europe     By Type     By End User

9.3.4      Rest of Europe     By Type     By End User

9.4          Asia Pacific

9.4.1      Market Size & Forecast (Value)

9.4.2      Japan                   ByType                   ByEnd User

9.4.3      China                   ByType                   ByEnd User

9.4.4      Australia                   ByType                   ByEnd User

9.4.5      India                   ByType                   ByEnd User

9.4.6      South Korea                   ByType                   ByEnd User

9.4.7      Rest of Asia-Pacific                   ByType                   ByEnd User

9.5          The Middle East & Africa

9.5.1      The Middle East   Market Size &Forecast (Value)   Saudi Arabia       ByType       ByEnd User   The UAE       ByType       ByEnd User   Qatar       ByType       ByEnd-User

9.5.2      Africa   Market Size &Forecast (Value)

10           Company Profile

10.1        Tilray

10.1.1    Company Overview

10.1.2    Financial Performance

10.1.3    Recent Developments

10.1.4    Type Portfolio

10.2        CHARLOTTE’S WEB

10.2.1    Company Overview

10.2.2    Financial Performance

10.2.3    Recent Developments

10.2.4    Type Portfolio

10.3        Gaia Botanicals, LLC

10.3.1    Company Overview

10.3.2    Financial Performance

10.3.3    Recent Developments

10.3.4    Type Portfolio

10.4        CBD American Shaman

10.4.1    Company Overview

10.4.2    Financial Performance

10.4.3    Recent Developments

10.4.4    Type Portfolio

10.5        Aurora Cannabis

10.5.1    Company Overview

10.5.2    Financial Performance

10.5.3    Recent Developments

10.5.4    Type Portfolio

10.6        Medix CBD

10.6.1    Company Overview

10.6.2    Financial Performance

10.6.3    Recent Developments

10.6.4    Type Portfolio

10.7        ConnOils

10.7.1    Company Overview

10.7.2    Financial Performance

10.7.3    Recent Developments

10.7.4    Type Portfolio

10.8        Kazmira

10.8.1    Company Overview

10.8.2    Financial Performance

10.8.3    Recent Developments

10.8.4    Type Portfolio

10.9        Others

10.9.1    Company Overview

10.9.2    Financial Performance

10.9.3    Recent Developments

10.9.4    Type Portfolio

Table of Content and Figure @ https://straitsresearch.com/report/hemp-derived-cbd-oil-market/toc 

News Media

Global CBD Market to Grow at a Healthy CAGR of 16.7{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d}

Consumer Preference Drives the CBD Skin Care Products Market despite the Stringent Regulatory Landscape in Many Countries                                                                                                   

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