Global CBD Oil Market 2017-2021
About CBD Oil
Cannabidiol (CBD) is one of the hundreds of cannabinoids found in the Cannabis sativa plant. CBD oil can be derived from two different species of cannabinoids: marijuana and hemp. The Americas dominated the global CBD oil market in 2016, followed by EMEA and APAC.
Hemp-based CBD oil products have a lower delta-9 tetrahydrocannabinol (THC) concentration, whereas marijuana-derived CBD oil products have a relatively high concentration of THC.
Technavio’s analysts forecast the global CBD oil market to grow at a CAGR of 39.19% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global CBD oil market for 2017-2021. To calculate the market size, the report considers the retail sales of CBD oil products in various geographical regions and countries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global CBD Oil Market 2017-2021
Technavio recognizes the following companies as the key players in the global CBD oil market: ENDOCA, Gaia Botanicals, Isodiol, and Medical Marijuana
Other Prominent Vendors in the market are: Aurora Cannabis (AC), Cannoid, CBD American Shaman, Canopy Growth Corporation, CV Sciences, Elixinol, Folium Biosciences, IRIE CBD, NuLeaf Naturals, and PharmaHemp.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing influence of online retailing. The increasing popularity of e-commerce businesses worldwide has provided vendors with an opportunity to enhance their profit margins and revenues. E-commerce accounted for nearly 12% of the global retail trade in 2016. Online and e-commerce channels support both business-to-consumer (B2C) and business-to-business (B2B) operations.”
According to the report, one of the major drivers for this market is Health benefits of CBD oil. CBD is one of the numerous compounds found in the cannabis plant. CBD is mostly derived from marijuana and hemp, which come from the same plant species called Cannabis sativa. Marijuana-based CBD products have a relatively high content of THC compared with hemp-derived CBD products. Hence, marijuana-based CBD products can be used only when they are prescribed by doctors. CBD oil products have several benefits. They are known to cure various ailments in the human body. Over the years, the demand for CBD oil has increased in different parts of the world because of the growing awareness about the health benefits of CBD oil.
Further, the report states that one of the major factors hindering the growth of this market is Unwillingness to invest in cannabis industry. Many investment organizations, such as banks, have expressed their unwillingness to invest in the cannabis industry at regular intervals. Most of the investment organizations in the US and Canada have often declined to provide loans to vendors in the cannabis industry. They have also declined to take a share of the revenue generated from the cannabis market, which includes hemp, marijuana, and other drug-related businesses. This, in turn, has resulted in the lack of adequate banking options for cannabis product vendors, which has caused significant problems in the diversion of funds and accounting. Owing to the lack of support from government organizations, vendors in the cannabis market have to look at private sectors to obtain capital. Vendors eventually end up paying higher interest rates, which decreases their revenues.
ENDOCA, Gaia Botanicals, Isodiol, Medical Marijuana, Aurora Cannabis (AC), Cannoid, CBD American Shaman, Canopy Growth Corporation, CV Sciences, Elixinol, Folium Biosciences, IRIE CBD, NuLeaf Naturals, and PharmaHemp.
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