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Cannabidiol oil commonly known as CBD oil is a key ingredient of cannabis plant. It is extracted from cannabis plant, a phylum relative of marijuana plant, the other active ingredient being THC. CBD has emerged to be natural element of medical marijuana for its positive reports from research institutes with laboratory test and trials. WHO research papers conclude CBD oil to be free of side effect from CBD psychoactive abuse and dependence signs of user. Found in oil form, it is easy to extract from the plant and process it with ethanol and butanol solvents methods having minimal production costs; hence, is a farming intensive process which has its own by-product thriving market. This multi beneficial promising aspects in CBD oil has motivated cultivation and oil extraction labs to be setup all across the U.S., China, Canada, and European union with export of raw material from across the globe, even India. As new facts enlighten CBD oil as key medical element for several diseases, its benefits in naturopathic treatments have driven a massive consumerism growth in the market.                                                                                     Â
COVID-19 Impact Analysis-
Increase in use of CBD oil in medical and health care sectors
CBD oil has a wide application in medical and healthcare sectors as it is used to get relief from pains. It is also used in prevention of anxiety and depression. CBD oil has great importance in cancer treatment. Use of CBD oil in medical field is one of the most significant drivers in the growth of the CBD oil market.
Application of CBD oil in pet’s healthcare & food manufacturing
Use of CBD oil in pet products is tending into the market. It helps pets deal with complication such as separation anxiety, lack of appetite, & nausea. Trendiness & multiple usage of CBD oil is a significant driver in the growth of the CBD oil market.Â
Promotion of CBD oil by government
The Government of India encourages the research and cultivation of cannabis with low THC content for industrial purpose such as industrial hemps, which lead to more production of CBD oil to meet expected demand during the forecast period. Government has granted a license for cultivation only for industrial uses and research purpose.Â
Key Benefits of Report-
Questions Answered in the Report
CBD Oil Market Report Highlights
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Key Market Players | NuLeaf Naturals LLC, CBDistillery., Gaia herbs Inc, CV Science Inc., Medical Marijuana Inc. |
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