CBD Oil Market Summary
As per MRFR Analysis, the CBD Oil (Cannabidiol Oil) Market was valued at 7.61 USD Billion in 2023 and is projected to grow to 22.5 USD Billion by 2035, with a CAGR of 9.46% from 2025 to 2035. The market is driven by increasing consumer demand for natural remedies, legalization of cannabis products, and ongoing research into CBD's health benefits. The rise of e-commerce has also enhanced product accessibility, contributing to market growth.
Key Market Trends & Highlights
Key trends driving the CBD Oil market include growing consumer awareness and product diversification.
- Therapeutic application segment expected to grow from 3.0 USD Billion in 2024 to 9.0 USD Billion by 2035.
- Cosmetics application projected to rise from 1.5 USD Billion in 2024 to 4.5 USD Billion by 2035.
- Food and Beverages segment anticipated to increase from 2.0 USD Billion in 2024 to 5.8 USD Billion by 2035.
- E-commerce sales for CBD products surged by over 25% during recent years.
Market Size & Forecast
2023 Market Size: USD 7.61 Billion
2024 Market Size: USD 8.33 Billion
2035 Market Size: USD 22.5 Billion
Expected CAGR (2025-2035): 9.46%
Largest Regional Market Share in 2024: North America.
Major Players
PureKana; Lord Jones; CV Sciences; Green Roads; HempOilCare; Charlotte's Web Holdings; Elysium Health; Elixinol Global; Joy Organics; Papa and Barkley; Anderson Seed Company; Cibaderm; Medterra; NuLeaf Naturals.
Key CBD Oil (Cannabidiol Oil) Market Trends Highlighted
The CBD Oil (Cannabidiol Oil) Market is currently driven by an increased awareness of the health benefits associated with CBD. More consumers are turning to CBD oil as a natural alternative for various health issues, such as anxiety, pain relief, and sleep disorders. Furthermore, the legalization of hemp-derived CBD products in multiple countries has opened new avenues for growth.Â
The increasing trend towards wellness and holistic health solutions among consumers is also a significant driver, leading to a surge in demand for organic and high-quality CBD oils. There are numerous opportunities to be explored in this evolving market. With growing consumer interest, companies could focus on expanding their product lines to include flavored or infused oils, catering to different preferences and demographics.
Also, coming up with new ways to deliver things, like edibles and drinks, is a great way to get more market share. The trend of sustainability has picked up speed lately and is affecting people's buying decisions. People are more likely to buy from brands that care about the environment and get their CBD from sources that will last. There is also a growing demand for openness, as customers prefer brands that make it clear where their products come from, how they are made, and how they are tested. More and more people in the global market are using these methods to gain trust and brand loyalty. Countries are working on clearer rules for CBD, which should make the market safer and more consistent.
These developments indicate a robust and dynamic future for the Global CBD Oil market.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
CBD Oil (Cannabidiol Oil) Market Drivers
Growing Acceptance of CBD Oil for Medical Use
The CBD Oil (Cannabidiol Oil) Market is experiencing significant growth attributed to the increasing acceptance of CBD oil for various medical purposes. Research from the World Health Organization indicates that 25% of adults globally are now aware of CBD oil's potential health benefits, contributing to a rise in its consumption for managing chronic pain, anxiety, and epilepsy. With supportive legislation from various national governments promoting the use of medical cannabis, the market is expected to experience sustained demand.
For instance, the Canadian government's approval of cannabis-based medicine has led to a 30% increase in patients reporting satisfaction from CBD treatments. This paved the way for similar regulations across countries, further fuelling growth in the CBD Oil (Cannabidiol Oil) Market. The awareness and subsequent adoption driven by organizations such as the World Health Organization, along with favorable laws, suggest an expansive horizon for the medicinal use of CBD oil.
Evolving Consumer Preferences Toward Natural Remedies
The shift towards natural and holistic health solutions is becoming more prominent within the CBD Oil (Cannabidiol Oil) Market. According to studies conducted by the National Center for Complementary and Integrative Health, approximately 38% of U.S. adults aged 18 and older reported using complementary health approaches, including CBD oil. This reflects a growing trend where consumers prefer natural over synthetic products, driven by increased awareness of potential side effects from traditional pharmaceuticals.
Companies like Charlotte's Web and Green Roads have capitalized on this preference, creating a range of CBD oil products that are organic and ethically sourced, thus enhancing trust and marketability. This consumer shift is critical, and as more individuals seek natural alternatives, the market stands to benefit significantly.
Increase in Research and Development Investment
Increasing investments in Research and Development (R&D) for CBD oil-related products portray a robust driver for the CBD Oil (Cannabidiol Oil) Market. The National Institutes of Health have reported a 50% increase in funding for cannabinoid research in the past four years. This boost in R&D efforts aims to explore additional therapeutic applications of CBD oil, enhancing its credibility and usability. With major pharmaceutical companies like GW Pharmaceuticals actively conducting clinical trials on CBD derivatives, there is a positive implication for market growth.
As more patent applications for CBD formulations emerge, it signifies burgeoning innovation; hence, R&D serves as a cornerstone for the accelerated development of the CBD Oil (Cannabidiol Oil) Market.
Legislative Reforms Supporting CBD Growth
Legislative reforms across various countries supporting the legality and commercialization of CBD oil are significantly impacting the CBD Oil (Cannabidiol Oil) Market. As per the U.S. Food and Drug Administration, the legalization of hemp-derived CBD oil under the 2018 Farm Bill resulted in a market expansion worth billions. Countries such as Germany, which legalized cannabis for medical use in 2017, have reported a 20% increase in CBD oil sales annually since then.
As nations bolster their legal frameworks to allow the trade of CBD products, this legislative environment fosters a thriving market landscape, demonstrating a profound catalyst for future growth in the CBD Oil (Cannabidiol Oil) Market.
CBD Oil (Cannabidiol Oil) Market Segment Insights
CBD Oil (Cannabidiol Oil) Market Application Insights
The CBD Oil (Cannabidiol Oil) Market is seeing a significant transformation within its Application segment, comprising various sectors that contribute to its revenue growth. In 2024, the overall market value is expected to reach approximately 8.33 USD billion, with various applications driving this expansion. The Therapeutic application is predicted to emerge as the dominant category, valued at 3.0 USD Billion in 2024 and projected to rise to 8.0 USD billion by 2035, as consumers increasingly recognize the potential health benefits of CBD oil in managing various medical conditions such as anxiety, chronic pain, and epilepsy. This therapeutic segment showcases the majority holding within the market due to the growing acceptance of CBD as a viable treatment option, supported by increasing research and clinical trials.
Following closely, the Cosmetics application is anticipated to reflect an increasing trend towards natural and organic products in skin care and beauty, holding a valuation of 1.5 USD billion in 2024, potentially expanding to 4.0 USD billion by 2035. The rise in demand for anti-aging products and skin treatments that utilize CBD's anti-inflammatory properties underscores the importance of this segment, as consumers shift towards holistic beauty solutions.
Meanwhile, the Food and Beverages application, valued at 2.0 USD Billion in 2024 and projected to grow to 5.5 USD Billion by 2035, captures the interests of health-conscious consumers who are keen on incorporating CBD into their diets. This segment's growth can be attributed to the increasing popularity of CBD-infused drinks and edibles, as more restaurants and cafes expand their menus to include such offerings, thus enhancing their market presence.
Vaping, while a smaller segment valued at 0.83 USD billion in 2024 and expected to reach 2.2 USD billion by 2035, reflects the lifestyle shifts towards vaping as a preferred method of consumption, especially among younger demographics seeking alternatives to traditional smoking. This category is often seen as a bridge between therapeutic and leisure activities, as many users report stress relief and enjoyment, indicating a unique niche within the market.
The Nutraceuticals application is also witnessing growth, currently valued at 1.0 USD billion in 2024 and anticipated to grow to 3.3 USD billion by 2035, as consumers are increasingly looking at CBD oil as part of their dietary supplement intake. This segment capitalizes on the wellness trend and emphasizes the integration of health benefits associated with CBD oil, emphasizing natural preventative care measures.
The overall dynamics of the CBD Oil (Cannabidiol Oil) Market, with its diversity in applications, showcase the growing interest and acceptance of CBD products across various industries. Each of these applications presents unique growth opportunities and reflects shifting consumer preferences towards natural, health-driven choices as they seek safe and effective alternatives in their daily lives.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
CBD Oil (Cannabidiol Oil) Market Source Insights
The CBD Oil (Cannabidiol Oil) Market is set to experience significant growth, with insights into the Source segment revealing strong potential for expansion. By 2024, the market is expected to be valued at 8.33 billion USD, escalating to 22.5 billion USD by 2035, illustrating a trend of increasing adoption and demand. Within this landscape, the market segmentation showcases two primary categories: Hemp-Derived and Marijuana-Derived sources. Hemp-Derived oil often leads the market due to its lower THC levels and broader legal acceptance across various regions, making it a preferred choice for numerous consumers.
Conversely, Marijuana-Derived oil offers higher concentrations of Cannabidiol, appealing to specific medicinal applications and attracting a niche audience. The combined prevalence of these sources drives significant advancements in product development and regulatory acceptance, further fueled by rising awareness of the health benefits associated with CBD. However, challenges such as regulatory hurdles and market competition continue to shape the landscape. Overall, the CBD Oil (Cannabidiol Oil) Market showcases a vibrant ecosystem that reflects growth opportunities and evolving consumer preferences.
CBD Oil (Cannabidiol Oil) Market Formulation Insights
The CBD Oil (Cannabidiol Oil) Market's Formulation segment is witnessing significant growth. By 2024, this segment is expected to contribute to the overall market value of 8.33 USD billion, showcasing its importance. Among various formulations, oils and tinctures are particularly popular due to their versatility and ease of consumption, attracting both new users and seasoned consumers alike. The capsules segment offers a discreet and convenient option, which is appealing to those seeking dosage control. Edibles have gained traction in the market, especially among younger demographics, as they combine enjoyable flavors with the benefits of CBD.
Topicals are also emerging as a significant player, especially in the wellness and beauty sectors, providing targeted relief and skincare benefits. As consumer awareness grows and regulations become more favorable globally, the demand for these formulations is expected to rise. The increasing interest in natural alternatives for health and wellness is a key driver for this segment, while challenges such as education and regulatory compliance continue to shape its landscape. Overall, the CBD Oil (Cannabidiol Oil) Market segmentation highlights a diverse array of products catering to a variety of consumer preferences.
CBD Oil (Cannabidiol Oil) Market End Use Insights
The CBD Oil (Cannabidiol Oil) Market, particularly in the End Use segment, is witnessing substantial growth, partly attributed to the increasing acceptance of CBD oil across various industries, including Pharmaceuticals, Personal Care Products, Food Industry, and Wellness Centers. By 2024, this market is set to be valued at 8.33 billion USD, reflecting the rising demand for CBD oil derived products. The Pharmaceuticals segment plays a crucial role, driven by ongoing research into therapeutic applications and the legalization of cannabis in many regions, leading to significant market participation.
Personal Care Products also contribute significantly, as consumers increasingly seek natural ingredients for skincare and wellness, further propelled by trends towards holistic health offerings in the beauty industry. The Food Industry incorporates CBD oil into edibles and beverages, tapping into consumer interest in functional foods with health benefits. Additionally, Wellness Centers are expanding their services by integrating CBD oil into therapies, recognizing its potential benefits for relaxation and mental well-being. As the CBD Oil (Cannabidiol Oil) Market continues to develop, these segments are expected to capitalize on increasing consumer awareness and regulatory advancements, thereby advancing the market growth.
CBD Oil (Cannabidiol Oil) Market Regional Insights
The CBD Oil (Cannabidiol Oil) Market is experiencing robust growth across various regions, with significant contributions from North America, Europe, South America, Asia Pacific, the Middle East, and Africa. In 2024, North America is projected to hold a major market share valued at 3.5 USD Billion, reflecting the region’s strong adoption of CBD products, influenced by regulatory advancements and heightened consumer awareness. Europe follows with a valuation of 2.0 USD billion, driven by growing demand for skincare and wellness products infused with CBD.
South America, despite being the smallest segment at 0.75 USD billion, is on the rise due to increasing legalization and a younger demographic open to CBD products. Asia Pacific, valued at 1.5 USD Billion, demonstrates potential growth fueled by evolving consumer preferences and rising health awareness. The Middle East and Africa, with a valuation of 0.58 USD billion, is gradually gaining traction as regulatory environments evolve. Each of these regions showcases unique trends, growth drivers, and challenges that shape the CBD Oil (Cannabidiol Oil) Market, highlighting the importance of understanding regional dynamics in this expanding industry.
As consumer education and regulatory frameworks develop, opportunities for growth will continue to emerge across these diverse markets.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
CBD Oil (Cannabidiol Oil) Market Key Players and Competitive Insights
The CBD Oil (Cannabidiol Oil) Market has witnessed significant growth in recent years, driven by an increasing consumer preference for natural and organic products, coupled with the expanding body of research affirming the health benefits of CBD. As the market matures, numerous companies are vying for prominence, presenting a highly competitive landscape characterized by innovation, branding strategies, and differing product offerings. Companies are increasingly focused on not only meeting regulatory standards but also differentiating their products to cater to the diverse preferences of consumers globally. The level of competition is influenced by various factors, including product quality, pricing strategies, distribution channels, and marketing efforts that resonate with target demographics. Understanding the competitive dynamics within this market is crucial for stakeholders aiming to establish a strong market position.
Royal CBD has positioned itself as a reputable player within the Global CBD Oil Market by focusing on premium quality products that cater to the health-conscious consumer. The brand has built its reputation through transparency in ingredient sourcing, product testing, and adherence to regulatory standards, ensuring that consumers can trust the quality of its offerings. Royal CBD emphasizes a broad range of product formulations, including tinctures, gummies, and topicals that come from organic hemp sources. Its strengths lie in its strong branding, effective marketing strategies, and a commitment to consumer education about the benefits of CBD. The company's strategic partnerships for distribution and collaboration with health professionals have enhanced its market presence, allowing it to reach a diverse audience across the globe.
PureKana has also emerged as a significant contender in the Global CBD Oil Market. The company offers a variety of CBD products, including oils, capsules, and edibles, all crafted from non-GMO hemp. PureKana emphasizes product quality and safety, showcasing third-party testing results to reassure consumers regarding the efficacy and purity of its offerings. Its strengths in the market include an established online presence, strategic marketing campaigns focused on wellness and lifestyle integration, and a commitment to sustainability in sourcing practices. PureKana has engaged in collaborations that enhance its product line and broaden its consumer reach. With a consistent focus on innovation and the introduction of new product variations, the company continues to maintain a strong foothold in the global CBD landscape, catering to both novice and experienced users.
Key Companies in the CBD Oil (Cannabidiol Oil) Market Include:
- Royal CBD
- PureKana
- CBDistillery
- Charlotte's Web
- Lazarus Naturals
- Green Roads
- Balance CBD
- CV Sciences
- Joy Organics
- NuLeaf Naturals
- Medterra
- Hemp Bombs
- Elixinol
- Koi CBD
CBD Oil (Cannabidiol Oil) Market Developments
Recent developments in the Global CBD Oil market have highlighted a dynamic landscape of growth and innovation. Companies such as Royal CBD, PureKana, CBDistillery, and Charlotte's Web are experiencing increased market valuation due to the rising consumer interest in natural health products. In particular, the demand for quality CBD oil has been influenced by expanding research into its health benefits, leading to a surge in sales. In terms of mergers and acquisitions, notable transactions have heightened the competitive edge within the market; for instance, CV Sciences expanded its portfolio by acquiring certain assets from a smaller competitor in July 2023, strengthening its market position.Â
Additionally, the growth of e-commerce has significantly impacted how companies like Joy Organics and Green Roads reach consumers, broadening their market presence globally. Furthermore, regulatory changes in regions such as Europe and the USA are further shaping the market dynamics, emphasizing quality and safety standards. Over the past couple of years, the market has witnessed a boost, particularly in March 2021, when the FDA laid out clear guidelines for CBD product regulations, enhancing consumer trust and industry credibility.
CBD Oil (Cannabidiol Oil) Market Segmentation Insights
CBD Oil (Cannabidiol Oil) Market Application Outlook
- Therapeutic
- Cosmetics
- Food and Beverages
- Vaping
- Nutraceuticals
CBD Oil (Cannabidiol Oil) Market Source Outlook
- Hemp-Derived
- Marijuana-Derived
CBD Oil (Cannabidiol Oil) Market Formulation Outlook
- Oil
- Tinctures
- Capsules
- Edibles
- Topicals
CBD Oil (Cannabidiol Oil) Market End Use Outlook
- Pharmaceuticals
- Personal Care Products
- Food Industry
- Wellness Centers
CBD Oil (Cannabidiol Oil) Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2023
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7.61 (USD Billion)
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Market Size 2024
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8.33 (USD Billion)
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Market Size 2035
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22.5 (USD Billion)
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Compound Annual Growth Rate (CAGR)
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9.45% (2025 - 2035)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2024
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Market Forecast Period
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2025 - 2035
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Historical Data
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2019 - 2024
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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Royal CBD, PureKana, CBDistillery, Charlotte's Web, Lazarus Naturals, Green Roads, Balance CBD, CV Sciences, Joy Organics, NuLeaf Naturals, Medterra, Hemp Bombs, Elixinol, Koi CBD
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Segments Covered
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Application, Source, Formulation, End Use, Regional
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Key Market Opportunities
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Increasing demand for wellness products, Expansion in beauty and skincare, Growth in pet care applications, Legalization across more regions, Rise in online retail channels
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Key Market Dynamics
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Regulatory changes, growing health awareness, rising demand for natural products, product innovation and diversification, increasing e-commerce penetration
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Countries Covered
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North America, Europe, APAC, South America, MEA
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CBD Oil Market Highlights:
Frequently Asked Questions (FAQ) :
The Global CBD Oil market is expected to be valued at 8.33 billion USD in 2024.
By 2035, the Global CBD Oil market is anticipated to reach a value of 22.5 billion USD.
The expected compound annual growth rate (CAGR) for the Global CBD Oil market from 2025 to 2035 is 9.45%.
North America is expected to dominate the Global CBD Oil market with a projected value of 9.5 billion USD by 2035.
The therapeutic application of CBD oil is projected to reach 8.0 billion USD by 2035.
The cosmetic application of CBD oil is anticipated to reach a market size of 4.0 billion USD by 2035.
Key players in the Global CBD Oil market include Royal CBD, PureKana, CBDistillery, and Charlotte's Web.
The CBD oil market in the Asia Pacific region is expected to be valued at 1.5 billion USD in 2024.
The Global CBD Oil market faces challenges such as regulatory issues and varying consumer perceptions.
Key growth drivers for the Global CBD Oil market include increasing consumer awareness of health benefits and evolving product applications.
