CBD Oil Market – 38% of Growth to Originate from North America |Marijuana-derived CBD oil segment to be Significant for Revenue Generation |Technavio

NEW YORK, June 2, 2022 /PRNewswire/ — The CBD oil market estimates a market value of  USD 3.97 billion from 2021 to 2026 as per the latest market forecast report by Technavio. In addition, the report projects the market to progress at a CAGR of  26.43%. 38% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for CBD oil in North America. Market growth in this region will be faster than the growth of the market in the European, MEA, and APAC regions. The growing awareness of the health benefits of CBD oil products and the increasing number of states legalizing the use of marijuana products in the US will facilitate the CBD oil market growth in North America over the forecast period.

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CBD Oil Market: Segmentation Analysis

Technavio market research report segments the CBD oil market by Product (Marijuana-derived CBD oil and Hemp-derived CBD oil) and Geography (North America, South America, Europe, APAC, and the Middle East and Africa).

The CBD oil market share growth in the Marijuana-derived CBD oil segment will be significant for revenue generation. Marijuana-derived CBD oil products are only sold to consumers with a doctor’s prescription as CBD oils are psychoactive and can cause nausea and dizziness. Marijuana-derived CBD oil products usually contain 3%-15% THC. Factors such as the increasing number of countries that are legalizing marijuana and the rising number of organized retailing outlets offering CBD oil-based products are estimated to drive the growth of this segment during the forecast period. The report provides an accurate prediction of the contribution of all the segments to the growth of the CBD oil market size and actionable market insights on each segment.

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The competitive scenario provided in the CBD Oil Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don’t wait, Make a strategic approach & boost your business goals with our CBD Oil Market Forecast Report –  Buy Now!

CBD Oil Market: Growing Millennial population in key cannabis markets to drive growth

• The key factor driving growth in the CBD oil market is the growing millennial population in key cannabis markets.

• The usage of cannabis products, especially for recreational purposes, is quite popular among millennials. Also, the increased use of cannabis products among millennials is attributed to the fact that they are relatively more enthusiastic about trying out new variants when compared with older generations.

• For Instance -In July 2019, millennials (aged 23-38 years 2019) numbered 72.1 million in the US. The US comprises the largest legal cannabis market in the world due to its liberal laws on marijuana.

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Table of Content

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio