Question 1

Why is the use of CBD oil growing in North America?

Accepted Answer

North America held 59% of the cannabidiol oil industry share in 2023, led by increasing adoption for treating psychological disorders along with the growing legalization of hemp and marijuana.

Question 2

What is the size of the original cannabidiol oil market?

Accepted Answer

The original product type segment recorded 62.2% of the CBD oil market share in 2023, due to the rising need for catering to the increasing consumer demand for natural remedies.

Question 3

Why is the demand for hemp CBD oil rising?

Accepted Answer

The hemp source segment is set to grow at 18.9% CAGR between 2024

Question 4

How big is the cannabidiol oil market?

Accepted Answer

Global cannabidiol (CBD) oil industry size was valued at USD 5.2 billion in 2023 and is expected to reach USD 24.7 billion by 2032, due to the growing acceptance and legalization of cannabis-derived products for medicinal and therapeutic use

Cannabidiol (CBD) Oil Market – By Source (Hemp, Marijuana), Product Type (Original, Blended), Product Category (Flavoured, Unflavoured), Application (Nutraceuticals, Pharmaceuticals), Formulation, Distribution Channel, Global Forecast 2024 - 2032

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