Hemp-Derived CBD Oil Market Size is projected to reach USD 6.53 Billion by 2030, growing at a CAGR of 22.30%: Straits Research
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% 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% to 80% 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% to reach USD 3,348.32 by 2026.
Report Scope
| Report Metric | Details |
| Market Size | USD 6.53 Billion by 2030 |
| CAGR | 22.30% (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% 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%.
- The organic segment is growing at the fastest CAGR of 24.9% 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% in 2019.
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Major companies operating in the hemp-derived CBD oil market are
- FOLIUM BIOSCIENCES
- Tilray
- CHARLOTTE’S WEB
- 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
TABLE OF CONTENTS
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
3.2.1.1 Growing Applications of CBD Oil in Skincare Industry
3.2.1.2 Growing R&D Activities
3.2.1.3 Increasing Demand for Hemp-Derived CBD Oil via the E-Commerce platform
3.2.2 Industry Restraints and Challenges
3.2.2.1 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
3.9.1.1 Hemp-based CBD market
3.9.2 Ancillary Market
3.9.2.1 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
9.2.1.1 The U.S.
9.2.1.1.1 byType
9.2.1.1.2 byEnd User
9.2.1.2 Canada
9.2.1.2.1 byType
9.2.1.2.2 byEnd User
9.2.1.3 Mexico
9.2.1.3.1 byType
9.2.1.3.2 byEnd User
9.2.2 The Central, South America and the Caribbean
9.2.2.1 byType
9.2.2.2 byEnd User
9.2.2.2.1 Brazil
9.2.2.2.1.1 byType
9.2.2.2.1.2 byEnd User
9.2.2.2.2 Argentina
9.2.2.2.2.1 byType
9.2.2.2.2.2 byEnd User
9.2.2.2.3 Rest of Central, South America and the Caribbean
9.2.2.2.3.1 byType
9.2.2.2.3.2 byEnd User
9.3 Europe
9.3.1 Market Size &Forecast (Value)
9.3.2 Western Europe
9.3.2.1 The U.K
9.3.2.1.1 byType
9.3.2.1.2 byEnd User
9.3.2.2 Germany
9.3.2.2.1 byType
9.3.2.2.2 byEnd User
9.3.2.3 France
9.3.2.3.1 byType
9.3.2.3.2 byEnd User
9.3.2.4 Spain
9.3.2.4.1 byType
9.3.2.4.2 byEnd User
9.3.2.5 Italy
9.3.2.5.1 byType
9.3.2.5.2 byEnd User
9.3.2.6 Rest of Western Europe
9.3.2.6.1 byType
9.3.2.6.2 byEnd User
9.3.3 Eastern Europe
9.3.3.1 By Type
9.3.3.2 By End User
9.3.4 Rest of Europe
9.3.4.1 By Type
9.3.4.2 By End User
9.4 Asia Pacific
9.4.1 Market Size & Forecast (Value)
9.4.2 Japan
9.4.2.1 ByType
9.4.2.2 ByEnd User
9.4.3 China
9.4.3.1 ByType
9.4.3.2 ByEnd User
9.4.4 Australia
9.4.4.1 ByType
9.4.4.2 ByEnd User
9.4.5 India
9.4.5.1 ByType
9.4.5.2 ByEnd User
9.4.6 South Korea
9.4.6.1 ByType
9.4.6.2 ByEnd User
9.4.7 Rest of Asia-Pacific
9.4.7.1 ByType
9.4.7.2 ByEnd User
9.5 The Middle East & Africa
9.5.1 The Middle East
9.5.1.1 Market Size &Forecast (Value)
9.5.1.2 Saudi Arabia
9.5.1.2.1 ByType
9.5.1.2.2 ByEnd User
9.5.1.3 The UAE
9.5.1.3.1 ByType
9.5.1.3.2 ByEnd User
9.5.1.4 Qatar
9.5.1.4.1 ByType
9.5.1.4.2 ByEnd-User
9.5.2 Africa
9.5.2.1 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%
Consumer Preference Drives the CBD Skin Care Products Market despite the Stringent Regulatory Landscape in Many Countries
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