About CBD Hemp Oil Consumption
Hemp oil, also known as hemp seed oil, is obtained by cold-pressing hemp seed. CBD hemp oil is derived from a variety of cannabis sativa plants. CBD hemp oil has various benefits, including potential effects on the immune system, hormone balance, weight management, helping reduce chronic pain, improving sleep quality, improving skin conditions such as acne, and more. The CBD hemp oil available in various forms, such as capsules, topicals, vaping, edibles, etc., and advances in extraction technologies and product formulation can lead to the development of new and improved CBD products, enhancing their efficacy and appeal.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The CBD Hemp Oil Consumption market is dynamic. Companies that prioritize quality, third-party testing, and transparency in their manufacturing processes tend to stand out. Consumer trust is often built on the assurance of product quality. Competitors differentiate themselves through innovative product formulations. This includes incorporating unique ingredients, exploring new delivery methods, and addressing specific consumer needs. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
kazmira (United States), MH medical hemp GmbH (Germany), AURORA CANNABIS INC. (Germany), CHARLOTTE’S WEB (United States), Canopy Growth Corporation, (Canada), Freedom Leaf, Inc. (United States), Plains Industrial Hemp Processing Ltd. (Canada), South Hemp (Nepal), Green Roads (United States), Konoplex (Russia), Manitoba Harvest Hemp Foods. (Canada), HempFlax Group B.V. (Netherland), Hempco Food and Fiber Inc. (Canada), Ecofibre (Australia), Medterra CBD (United States), The Cronos Group (Canada), Voyager (United Kingdom) and CV Sciences, Inc (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global CBD Hemp Oil Consumption market by , Application (Pain Management, Sleep Disorder, Anxiety Relief, Skincare and Others) and Region.
On the basis of geography, the market of CBD Hemp Oil Consumption has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Pharmacies will boost the CBD Hemp Oil Consumption market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing trend toward integrating CBD products into daily life such as cosmetics, beverages, and even pet products,
Market Growth Drivers:
Increasing legalization and deregulation of hemp cultivation and Growing awareness of the potential health benefits of CBD, such as its ability to relieve pain
Challenges:
There is a risk of consumers purchasing low-quality or counterfeit CBD products. and Ensuring consistent quality and standardization of CBD products is a challenge.
Restraints:
Limited Scientific Evidence and Regulatory Uncertainty in CBD products
Opportunities:
Explore diversification of product line and Focus on innovation of extraction techniques
Market Leaders and their expansionary development strategies
In JANUARY 2022, Voyager, the health and wellness company supplying high-quality Cannabidiol hemp seed oil and hemp-related products, has acquired the brands and assets of Cannafull a specialist manufacturer of CBD skincare and face serum products. The acquisition expands the company’s product portfolio. and In March 2019, Canopy Growth Corporation has acquired AgriNextUSA, a hemp enterprise. The acquisition will accelerate Canopy Growth’s entry into key American jurisdictions as regulations surrounding the full use of hemp as a crop begin to be implemented.
Sept. 6, 2023, Aurora Cannabis Inc. the Canadian company announced the partnership with Herbarium, the leading Brazilian company in herbal medicine, launched the company's full-spectrum, single-source 3% CBD oil and the expansion of hemp-derived CBD portfolio into Brazil. and In May 2021, Charlotte’s Web, Inc. a trusted hemp extract and a Certified B Corporation launched of its new Charlotte’s Web THC-Free† 25mg cannabidiol Oil Tinctures in 10 or 30-milliliter sizes.
Key Target Audience
Supplier, Manufacturer, Research organization, Government Regulatory, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.