Global CBD Hemp Oil Industry Report 2020-2025: Increase in Need for Plant-based Pain Relief Medication
DUBLIN, April 17, 2020 /PRNewswire/ — The “Global CBD Hemp Oil Markets 2020-2025: Growth Insights, Trends and Segment Forecasts” report has been added to ResearchAndMarkets.com’s offering.
The World’s CBD hemp oil market is projected to grow at a significant rate owing to the increase in the need for plant-based pain relief medication and the prevalence of mood-related neurological disorders in the future. In addition, the high prevalence of chronic diseases such as diabetes and cancer are fuelling market growth. Moreover, research and development in plant-based medications have been leading to substantial impetus to the growth of the CBD hemp oil market.
In the year of 2017 alone, the National Institute of Health has supported 330 projects totaling about 140 million on cannabinoid research. Furthermore, the rise in penetration of hemp oil in e-commerce websites and advancements in technologies expected to bolster the market growth in the near future. However, restrictions in the use of CBD in few countries and stringent regulatory infrastructure expected to hamper the market growth over the forecast period.
Key Market Trends
Increase in demand for plant-based non-opioid medicine is believed to propel the growth of CBD hemp oil segment
Plant-based medicine has witnessed significant growth over the past years. In addition, the need for minimally processed and chemical-free medicine has opened a lucrative opportunity for the growth of the market studied.
CBD hemp oil, unlike other psychological drugs, does not affect the state of mind of a person, in addition, it provides therapeutic benefits like stress relief.
Increasing the incidence of depression among the population is projected to positively impact the market growth.
The rise in acceptance of CBD hemp oil in treating diseases and the legalization of cannabinoid plant-related products in many countries is expected to boost the hemp-based CBD hemp oil market.
Furthermore, preference towards preventive healthcare and a wide range of applications of CBD hemp oil are strengthening the market for CBD hemp oil.
North America Emerges as the Largest Market for CBD Hemp Oil
Due to the factors such as the legalization of marijuana in many countries of the United States and raising awareness of the benefits of CBD Hemp oil, North America is expected to witness the largest share. Furthermore, the strong presence of companies in the United States and the availability of a wide range of products are benefiting the market demand in the region.
Asia-Pacific is expected to be the fastest-growing market for CBD hemp oil owing to the set up of new hemp manufacturing plants, mainly in China. China is one of the largest producers of hemp-related products and exports the majority of the products around the world. Furthermore, the focus of the companies on emerging countries and the legalization of medical use of these products are projected to boost the market growth in the Asia-Pacific region.
The CBD Hemp Oil Market is highly fragmented and is witnessing the presence of local and international players operating in the market. The key market players include Aurora Cannabis, CV Science Inc., ENDOCA, Gaia Herbs, and ISODL.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Incidence of Psychological Disorders
4.2.2 Rise in Acceptance of Hemp Oil Based Products
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies
4.3.2 Side Effects and Perception of People on Use of CBD Hemp Oil
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Marijuana Based
5.1.2 Hemp Based
5.2 By Application
5.2.1 Multiple Sclerosis
5.2.2 Depression and Sleep Disorders
5.2.3 Neurological Pain
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Aurora Cannabis
6.1.2 CV Sciences Inc.
6.1.4 Gaia Herbs
6.1.6 IRIE CBD
6.1.8 CBD American Shaman
6.1.9 Canopy Growth Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/xstya
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