In numerous countries, starting with the U.S. and Canada, cannabis is being legalized for medical, recreational, and research uses. Following them, the U.K., Japan, Norway, Thailand, South Korea, Spain, Mexico, South Africa, and Brazil have also given the stamp of approval on the cultivation of marijuana and hemp, extraction of cannabidiol and usage of the chemical in various end products.
As a result, the global CBD oil market revenue is predicted to rise at a 24.3% CAGR between 2020 and 2025, from $1,735.1 million in 2019. This is being further supported by the promotion of the chemical as having numerous wellness advantages, by companies, which is helping increase the demand for it among the masses, primarily recreational users. Moreover, as cannabidiol has been claimed to treat depression, movement disorders, anxiety, and pain, its usage among people suffering from these issues is also rising.
Demand for Cannabidiol Tinctures to Burgeon in Coming Years
In the years to come, the popularity of tinctures of cannabidiol is predicted to mushroom rapidly, on account of these products being the most widely used for medical purposes. This is because tinctures can be taken sublingually (placed under the tongue), rather than via inhalation, which helps the capillaries absorb the cannabinoid instantly. Moreover, a lower dosage of tinctures is required compared to that of other forms of the chemical, which reduces the risk of the harmful effects related to overdose. Further, tinctures can be easily bought through e-commerce websites, pharmacies, and specialty and retail stores.
North America has dominated the consumption of cannabidiol till now, on account of the early legalization of the chemical in the U.S. and Canada, which has drastically increased the sale. In addition, the availability of cannabidiol-containing drugs, including Epidiolex and Sativex, and successful marketing of the compound as a wellness and lifestyle-enhancing product are other reasons for the high demand for cannabidiol in the continent. In the region, the U.S. is the larger CBD oil market, because of the increasing efforts of companies to license the cultivation of hemp and marijuana and manufacturing and supply of end-products, increase marketing activities, and make people aware about cannabis' medical benefits. In the coming years, Asia-Pacific (APAC) is predicted to experience the fastest growth in the market, due to the rising requirement for the chemical in South Korea, Japan, and Australia.
Companies Engaging in Mergers and Acquisitions to Strengthen their Hold on Industry
Mergers and acquisitions are being initiated by the market players to strengthen their presence in the industry, as such moves allow them the opportunity to:
Use the acquired companies' portfolio to expand their geographical reach
Utilize additional revenue streams
Enter new markets with cannabidiol-containing products
Advance their research and development (R&D) activities
Expand their product portfolio for core markets
Aphria Inc., Isodiol International Inc., CV Sciences Inc., Canopy Growth Corporation, Aurora Cannabis Inc., Endoca BV, Tilray Inc., CBDfx, Folium Biosciences, and Gaia Botanicals LLC are the key companies in the global CBD oil market.
Table of Contents
Chapter 1. Research Background
- 1.1 Research Objectives
- 1.2 Market Definition
- 1.3 Research Scope
- 1.3.1 Market Segmentation by Product Type
- 1.3.2 Market Segmentation by Geography
- 1.3.3 Analysis Period
- 1.3.4 Market Data Reporting Unit
- 1.4 Key Stakeholders
Chapter 2. Research Methodology
- 2.1 Secondary Research
- 2.2 Primary Research
- 2.2.1 Breakdown of Primary Research Respondents
- 2.2.1.1 By region
- 2.2.1.2 By industry participant
- 2.2.1.3 By company type
- 2.3 Market Size Estimation
- 2.4 Data Triangulation
- 2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
- 4.1 Definition of Market Segments
- 4.1.1 By Product Type
- 4.1.1.1 Cartridges
- 4.1.1.2 Capsules
- 4.1.1.3 Topicals
- 4.1.1.4 Tinctures
- 4.1.1.5 Others
- 4.2 Market Dynamics
- 4.2.1 Trends
- 4.2.1.1 Increasing investment across CBD value chain
- 4.2.2 Drivers
- 4.2.2.1 Legalization of CBD for research, medical, and recreational usage
- 4.2.2.2 Brand positioning of CBD-based merchandize as lifestyle and wellness products
- 4.2.2.3 Impact Analysis of Drivers on Market Forecast
- 4.2.3 Restraints
- 4.2.3.1 Non-standardization of regulations and high degree of competition
- 4.2.3.2 Impact Analysis of Restraints on Market Forecast
Chapter 5. Policy and Regulatory Landscape
Chapter 6. Global Market Size and Forecast
- 6.1 By Product
- 6.2 By Region
Chapter 7. North America Market Size and Forecast
- 7.1 By Product
- 7.2 By Country
- 7.2.1 U.S. Market
- 7.2.2 Canada Market
Chapter 8. Europe Market Size and Forecast
- 8.1 By Product
- 8.2 By Country
- 8.2.1 Germany Market
- 8.2.2 Italy Market
- 8.2.3 Netherlands Market
- 8.2.4 Spain Market
- 8.2.5 Switzerland Market
- 8.2.6 U.K. Market
Chapter 9. APAC Market Size and Forecast
- 9.1 By Product
- 9.2 By Country
- 9.2.1 Australia Market
- 9.2.2 Japan Market
- 9.2.3 South Korea Market
Chapter 10. ROW Market Size and Forecast
- 10.1 By Product
- 10.2 By Country
- 10.2.1 Brazil Market
- 10.2.2 Colombia Market
- 10.2.3 Mexico Market
Chapter 11. Competitive Landscape
- 11.1 Global Strategic Developments of Key Players
- 11.1.1 Mergers and Acquisitions
- 11.1.2 Product Launches
- 11.1.3 Partnerships
- 11.1.4 Geographic Expansions
- 11.1.5 Facility Expansions
- 11.1.6 Other Developments
Chapter 12. Company Profiles
- 12.1 Aphria Inc.
- 12.1.1 Business Overview
- 12.1.2 Product and Service Offerings
- 12.1.3 Key Financial Summary
- 12.2 CV Sciences Inc.
- 12.2.1 Business Overview
- 12.2.2 Product and Service Offerings
- 12.2.3 Key Financial Summary
- 12.3 Endoca BV
- 12.3.1 Business Overview
- 12.3.2 Product and Service Offerings
- 12.4 Isodiol International Inc.
- 12.4.1 Business Overview
- 12.4.2 Product and Service Offerings
- 12.5 Aurora Cannabis Inc.
- 12.5.1 Business Overview
- 12.5.2 Product and Service Offerings
- 12.6 Canopy Growth Corporation
- 12.6.1 Business Overview
- 12.6.2 Product and Service Offerings
- 12.6.3 Key Financial Summary
- 12.7 Tilray Inc.
- 12.7.1 Business Overview
- 12.7.2 Product and Service Offerings
- 12.7.3 Key Financial Summary
- 12.8 Folium Biosciences
- 12.8.1 Business Overview
- 12.8.2 Product and Service Offerings
- 12.9 Gaia Botanicals LLC
- 12.9.1 Business Overview
- 12.9.2 Product and Service Offerings
- 12.10 CBDfx
- 12.10.1 Business Overview
- 12.10.2 Product and Service Offerings
Chapter 13. Appendix
- 13.1 Abbreviations
- 13.2 Sources and References
- 13.3 Related Reports
List of Tables
- TABLE 1 ANALYSIS PERIOD OF THE STUDY
- TABLE 2 REGULATORY LANDSCAPE OF CBD (2019)
- TABLE 3 GLOBAL CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 4 GLOBAL CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 5 GLOBAL CBD MARKET, BY REGION, USD MILLION (2018-2019)
- TABLE 6 GLOBAL CBD MARKET, BY COUNTRY, USD MILLION (2020-2025)
- TABLE 7 NORTH AMERICA CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 8 NORTH AMERICA CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 9 NORTH AMERICA CBD MARKET, BY COUNTRY, USD MILLION (2018-2019)
- TABLE 10 NORTH AMERICA CBD MARKET, BY COUNTRY, USD MILLION (2020-2025)
- TABLE 11 U.S. CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 12 U.S. CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 13 CANADA CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 14 CANADA CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 15 EUROPE CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 16 EUROPE CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 17 EUROPE CBD MARKET, BY COUNTRY, USD MILLION (2018-2019)
- TABLE 18 EUROPE CBD MARKET, BY COUNTRY, USD MILLION (2020-2025)
- TABLE 19 GERMANY CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 20 GERMANY CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 21 ITALY CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 22 ITALY CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 23 NETHERLANDS CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 24 NETHERLANDS CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 25 SPAIN CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 26 SPAIN CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 27 SWITZERLAND CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 28 SWITZERLAND CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 29 U.K. CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 30 U.K. CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 31 APAC CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 32 APAC CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 33 APAC CBD MARKET, BY COUNTRY, USD MILLION (2018-2019)
- TABLE 34 APAC CBD MARKET, BY COUNTRY, USD MILLION (2020-2025)
- TABLE 35 AUSTRALIA CBD MARKET, BY PRODUCT, USD MILLION (2018-2019
- TABLE 36 AUSTRALIA CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 37 JAPAN CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 38 JAPAN CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 39 SOUTH KOREA CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 40 SOUTH KOREA CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 41 ROW CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 42 ROW CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 43 ROW CBD MARKET, BY COUNTRY, USD MILLION (2018-2019)
- TABLE 44 ROW CBD MARKET, BY COUNTRY, USD MILLION (2020-2025)
- TABLE 45 BRAZIL CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 46 BRAZIL CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 47 COLOMBIA CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 48 COLOMBIA CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 49 MEXICO CBD MARKET, BY PRODUCT, USD MILLION (2018-2019)
- TABLE 50 MEXICO CBD MARKET, BY PRODUCT, USD MILLION (2020-2025)
- TABLE 51 APHRIA INC.
- TABLE 52 APHRIA INC. - KEY FINANCIAL SUMMARY
- TABLE 53 CV SCIENCES INC.
- TABLE 54 CV SCIENCES INC. - KEY FINANCIAL SUMMARY
- TABLE 55 ENDOCA BV
- TABLE 56 ISODIOL INTERNATIONAL INC.
- TABLE 57 AURORA CANNABIS INC.
- TABLE 58 CANOPY GROWTH CORPORATION
- TABLE 59 CANOPY GROWTH CORPORATION - KEY FINANCIAL SUMMARY
- TABLE 60 TILRAY INC.
- TABLE 61 TILRAY INC. - KEY FINANCIAL SUMMARY
- TABLE 62 FOLIUM BIOSCIENCES
- TABLE 63 GAIA BOTANICALS LLC
- TABLE 64 CBDFX
List of Figures
- FIG 1 RESEARCH SCOPE
- FIG 2 RESEARCH METHODOLOGY
- FIG 3 BREAKDOWN OF PRIMARY RESEARCH BY REGION
- FIG 4 BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
- FIG 5 BREAKDOWN OF PRIMARY RESEARCH BY COMPANY TYPE
- FIG 6 DATA TRIANGULATION APPROACH
- FIG 7 GLOBAL CBD MARKET SUMMARY
- FIG 8 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
- FIG 9 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
- FIG 10 GLOBAL CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 11 WORLDWIDE MAJOR MARKETS FOR CBD
- FIG 12 NORTH AMERICA CBD MARKET SNAPSHOT
- FIG 13 NORTH AMERICA CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 14 NORTH AMERICA CBD MARKET, BY COUNTRY, USD MILLION (2018-2025)
- FIG 15 U.S. CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 16 CANADA CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 17 EUROPE CBD MARKET SNAPSHOT
- FIG 18 EUROPE CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 19 EUROPE CBD MARKET, BY COUNTRY, USD MILLION (2018-2025)
- FIG 20 GERMANY CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 21 ITALY CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 22 NETHERLANDS CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 23 SPAIN CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 24 SWITZERLAND CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 25 U.K. CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 26 APAC CBD MARKET SNAPSHOT
- FIG 27 APAC CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 28 APAC CBD MARKET, BY COUNTRY, USD MILLION (2018-2025)
- FIG 29 AUSTRALIA CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 30 JAPAN CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 31 SOUTH KOREA CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 32 ROW CBD MARKET SNAPSHOT
- FIG 33 ROW CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 34 ROW CBD MARKET, BY COUNTRY, USD MILLION (2018-2025)
- FIG 35 BRAZIL CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 36 COLOMBIA CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
- FIG 37 MEXICO CBD MARKET, BY PRODUCT, USD MILLION (2018-2025)
