Global CBD Hemp Oil Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global CBD Hemp Oil Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Hempseed oil is, as its name indicates, extracted from pressing hemp seeds. Hemp seeds are not psychoactive (4mg of THC/kg) upon consumption of any kind. Refined hempseed oil is generally considered a food item, thus making it legal in most countries. It is known for its countless health benefits, making it part of the very sought-after group of superfoods.

Market Overview:

The latest research study on the global CBD Hemp Oil market finds that the global CBD Hemp Oil market reached a value of USD 796.31 million in 2022. It’s expected that the market will achieve USD 3866.0 million by 2028, exhibiting a CAGR of 30.13% during the forecast period.

Increasing incidence of chronic and neurological diseases

The market is constantly expanding due to the increasing incidence of chronic diseases worldwide, increasing healthcare spending, and increasing awareness of patients with depression and sleep disorders. People's attention to various neurological diseases is increasing, the number of chronic diseases such as diabetes is increasing, and young people's awareness of depression and stress is increasing, resulting in the increased use of CBD cannabis oil in the field of health care. Because CBD hemp oil is considered to be a mixture of important chemical ingredients that controls diseases and helps treat patients diagnosed with neurological diseases and other diseases. Pure CBD hemp oil extracted from hemp varieties is naturally rich in CBD, while THC is low. The high concentration of CBD oil also contains other nutrients such as omega-3 fatty acids, terpenes, vitamins, chlorophyll, amino acids and other plant cannabinoids. CBD hemp oil can help patients with various chronic diseases and improve the body's ability to produce natural cannabinoids to improve the immune system.

Strict regulatory policy

Restrictions on the use of CBD and strict regulatory infrastructure in a few countries are expected to hinder market growth. The FDA has approved the CBD-based drug for the treatment of seizures, and is evaluating other drugs that use the compound as an active ingredient. But many regions prohibit the sale of cannabis CBD to the public, whether in oil, pills or other forms.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Canopy Growth Corporation is one of the major players operating in the CBD Hemp Oil market, holding a share of 6.62% in 2023.

Canopy Growth Corporation

Canopy Growth Corporation produces medical cannabis through its subsidiaries, including edible cannabis products, beverages, vape pens and vape cartridges, softgel capsules and other products.

Folium Biosciences

Folium Biosciences LLC provides agricultural biotechnology products. The Company produces, manufactures, and distributes hemp derived phytocannabinoid goods. Folium Biosciences serves customers internationally.

Segmentation Overview:

By type, Normal Source segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Food Industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global CBD Hemp Oil market covered in Chapter 3:

NuLeaf Naturals
HempLife Today
CV Sciences, Inc
ISODL
Green Roads
CW Hemp/CW Botanicals
Axis Hemp Company
Medical Marijuana
Freedom Leaf
Folium Biosciences
Canopy Growth Corporation
Kazmira
Pharmahemp
Balance CBD
ENDOCA
Select Oil
CBD American Shaman

In Chapter 4 and Chapter 14.2, on the basis of types, the CBD Hemp Oil market from 2018 to 2029 is primarily split into:

Organic Source
Normal Source

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the CBD Hemp Oil market from 2018 to 2029 covers:

Pharmaceuticals Industry
Food Industry
Cosmetics Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)