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CBD Hemp Oil Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

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Feb 2021 | 93 Views
 
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CBD (cannaboidal) is one of the most prevalent of the active ingredients of cannabis (also called as marijuana). It is an important constituent of marijuana in medical field and it is extracted from the hemp plant, having a close resemblance with the marijuana plant. CBD hemp oil is a mixture of various chemical compounds which have clinical significance in treatment against a variety of diseases. It is extensively used in treatment of people suffering with neurological disorders. CBD hemp oil is also attributed to be effective against various health problems and ailments like cancer, anxiety and depression and has added advantages such as pain relief, boosting cognitive abilities, anti-inflammatory properties among others. According to a report published by World Health Organization, CBD shows no significant results indicative of any abuse or dependence potential. As of now, there is no significant evidence of side effects associated with the use of CBD. Presence of a compound called Delta-9 tetrahydrocannabinol in the oil, is proving significant as it has shown positive outcomes when applied in stress relief and maintaining the body’s general state of balance.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value ($)

  Segments covered

  Products, Application, Distribution channels and Region

  Geographies covered

•             North America (U.S., Canada, Mexico)

•             Europe (France, Germany, UK, Italy, Spain, Rest of Europe)

•             Asia-Pacific (Japan, China, India, Australia, South Korea, Rest          of Asia-Pacific)

•             LAMEA (Brazil, South Arabia, South Africa, Rest of LAMEA)

  Companies covered

Cannavest, Pharmahemp, ENDOCA, BAFA Gmbh, Protect Pharma, Rakitovica, Biobloom Hemp, DragonflyCBD, MH medical hemp GmbH, Elixinol.

 

COVID – 19 scenario analysis:  

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
  • Over 4 million people affected globally, with 300 thousand losing their lives due to novel coronavirus
  • Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
  • Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to CBD has been reduced and this segment have to face negligence subsequently

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Due to recent studies and subsequent research of various CBD substances brought to notice the importance of CBD hemp oil in medical industry. In 2017, the National Institute of Health backed around 330 projects with $ 140 million spent on cannabinoid and related studies. The ever rising prevalence of several infectious and chronic diseases like cancer, diabetes and arising health problems like depression, stress, lack of sleep and mental disturbance especially in the upcoming generation due to various factors like change in lifestyle is expected to boost the growth of CBD hemp oil market in coming years. Further, the use of hemp oil in numerous forms like spray, tincture and vape especially in the developed and developing economies is one of the major causes that would help the CBD hemp oil market growth. Its wide range of application against diverse diseases and various health benefits related with it such as pain relief, reduction in anxiety and depression, proven benefits when used as a topical ointment for treating skin problems and neuroprotective attributes results in increasing demand for CBD hemp oil all over and is expected to drive the growth of the market. The availability of CBD hemp oil increasingly on various e-commerce websites giving easy access to various customers and increasing adoption of hemp oil are going to have positive impacts on the global CBD hemp oil market for CBD hemp oil.

However, prohibition for the use of CBD in some countries, the strict regulations regarding use of CBD hemp oil, complex administrative formation for the acceptance of hemp on a large scale and the scarcity of procurement of seeds for agricultural utilization of hemp are some circumstances which can restrain the growth of CBD hemp oil market. In order to overcome these hindrances, the key players in the market are coming up with various innovative solutions and the implementation of these solutions in the current industry scenario along with expansion policies in potential markets in the Asian region can be an important opportunity to grow the CBD hemp oil market.

Increasing demand for organic non-opioid compounds

Due to the ongoing trend for organic products, the minimally processed and chemical void medicines are in high demand which has created various growth opportunities for the CBD hemp oil market. CBD being closely related with cannabis is a non-psychoactive drug and has many health benefits. Rise in depression and stress has resulted in the need for a medicine, creating growth opportunities for hemp oil. The ongoing R&D activities and the proven positive results of CBD hemp oil when used against diverse diseases are paving way for the population to adoption of CBD hemp oil as a medication which is believed to surge. Recently, GW Pharmaceuticals made an announcement regarding descheduling of Epidiolex, that is a cannabis-based drug, from the federal list of controlled substances that keeps a check on potentially harmful drugs. Epidiolex is used in treatment of epilepsy in rarely and reducing tremors and is only USFDA approved drug. 

North America Emerges as the Largest Market for CBD Hemp Oil

Legalization of marijuana countries like the United States, increasing usage due to rising awareness of the health benefits of CBD Hemp oil, North American region is predicted to have immense growth with highest market share in the global market. The presence of industry players in the region is also having a promising impact on the market growth. Furthermore, the heavy funding for R&D activities and well-developed healthcare infrastructure are fueling the market growth for CBD hemp oil.
 

 

Key segments:

Segments

Sub-segments

  Product

  • Organic source
  • Inorganic source

  Application

  • Diabetes
  • Neurological disorders
  • Mood disorders
  • Pain relief
  • Others

  Distribution channels

  • Retail pharmacies
  • E-commerce portals
  • Medical marijuana distributors
  • Hospital pharmacies
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global CBD hemp oil industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global CBD hemp oil market share.
  • The current market is quantitatively analysed from 2020 to 2027 to highlight the global CBD hemp oil market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global CBD hemp oil market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the CBD Hemp Oil Market research report:

  • Who are the leading market players active in the CBD hemp oil market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that will help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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