CBD shows no significant results indicative of any abuse or dependence potential

 Top impacting factors: Market Scenario Analysis

The ever rising prevalence of several infectious and chronic diseases like cancer, diabetes and arising health problems like depression, stress, lack of sleep and mental disturbance especially in the upcoming generation due to various factors like change in lifestyle is expected to boost the growth of CBD hemp oil market in coming years. Further, the use of hemp oil in numerous forms like spray, tincture and vape especially in the developed and developing economies is one of the major causes that would help the CBD hemp oil market growth. Its wide range of application against diverse diseases and various health benefits related with it such as pain relief, reduction in anxiety and depression, proven benefits when used as a topical ointment for treating skin problems and neuroprotective attributes results in increasing demand for CBD hemp oil all over and is expected to drive the growth of the market.

Due to recent studies and subsequent research of various CBD substances brought to notice the importance of CBD hemp oil in medical industry. In 2017, the National Institute of Health backed around 330 projects with $ 140 million spent on cannabinoid and related studies.

Companies covered:

Cannavest, Pharmahemp, ENDOCA, BAFA Gmbh, Protect Pharma, Rakitovica, Biobloom Hemp, DragonflyCBD, MH medical hemp GmbH, Elixinol.

According to a report published by World Health Organization, CBD shows no significant results indicative of any abuse or dependence potential. As of now, there is no significant evidence of side effects associated with the use of CBD. Presence of a compound called Delta-9 tetrahydrocannabinol in the oil, is proving significant as it has shown positive outcomes when applied in stress relief and maintaining the body’s general state of balance.

Geographies covered:

• North America (U.S., Canada, Mexico)
• Europe (France, Germany, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
• LAMEA (Brazil, South Arabia, South Africa, Rest of LAMEA)

However, prohibition for the use of CBD in some countries, the strict regulations regarding use of CBD hemp oil, complex administrative formation for the acceptance of hemp on a large scale and the scarcity of procurement of seeds for agricultural utilization of hemp are some circumstances which can restrain the growth of CBD hemp oil market. In order to overcome these hindrances, the key players in the market are coming up with various innovative solutions and the implementation of these solutions in the current industry scenario along with expansion policies in potential markets in the Asian region can be an important opportunity to grow the CBD hemp oil market.

Key benefits of the report:

• This study presents the analytical depiction of the global CBD hemp oil industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global CBD hemp oil market share.
• The current market is quantitatively analysed from 2020 to 2027 to highlight the global CBD hemp oil market growth scenario.

North America Emerges as the Largest Market for CBD Hemp Oil

Legalization of marijuana countries like the United States, increasing usage due to rising awareness of the health benefits of CBD Hemp oil, North American region is predicted to have immense growth with highest market share in the global market. The presence of industry players in the region is also having a promising impact on the market growth. Furthermore, the heavy funding for R&D activities and well-developed healthcare infrastructure are fueling the market growth for CBD hemp oil.