The Global Cannabidiol Oil Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global cannabidiol market size was estimated to be US$ 5.4 billion in 2019 and is expected to reach US$ 41 billion by 2030 at a CAGR of 20%. Cannabidiol Oil is a phytocannabinoid that is used for the treatment of common ailments. Cannabidiol has over 100 chemical compounds that are obtained from cannabis Sativa. The product is used to deal with pain, anxiety, depression, cancer, neural diseases, and acne amongst others. Cannabidiol Oil with pain-relieving effects is used to regulate different functions such as sleep, appetite, pain, and immune system response. These products are neurotransmitters by nature that reduce chronic pain by altering the endocannabinoid receptor activity that further reduces inflammation-causing relief to the patients. Moreover, increasing cases of anxiety and depression is driving the demand for Cannabidiol oil. CBD oil is a neurotransmitter and can act upon brain receptors regulating mood and social behavior. Additionally, CBD oil aid in alleviating symptoms related to cancer treatment. Usage of CBD during chemotherapy reduce the symptoms such as nausea and vomiting that occurs during the treatment.