Global Cannabidiol (CBD) Oil Market to Reach $12.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Cannabidiol (CBD) Oil estimated at US$1.4 Billion in the year 2020, is projected to reach a revised size of US$12.9 Billion by 2027, growing at aCAGR of 36.6% over the period 2020-2027. Marijuana-Derived CBD Oil, one of the segments analyzed in the report, is projected to record 38.8% CAGR and reach US$8.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hemp-Derived CBD Oil segment is readjusted to a revised 32.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $436.3 Million, While China is Forecast to Grow at 35.3% CAGR
The Cannabidiol (CBD) Oil market in the U.S. is estimated at US$436.3 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2027 trailing a CAGR of 35.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 33.3% and 31.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 25.5% CAGR.We bring years of research experience to this 9th edition of our report. The 130-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Bluebird Botanicals
- CV Sciences, Inc.
- Endoca BV
- Isodiol International Inc.
- Medical Marijuana, Inc.