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Global Cannabidiol Oil Market Soaks In $1.09 Billion in 2022 Profits

Ever growing acceptance of cannabidiol’s health benefits still driving growth, finds report.




cannabis-plant As part of an agreement with OSHA, Trulieve of Tallahassee, FL will Trulieve will design and implement a temporary information and training program that alerts employees to potential allergic reactions they might experience working with ground cannabis dust in an occupational setting. PHOTO GCT

Dublin-based market research company estimates the global cannabidiol oil market will soak up $1.09 billion in revenue in 2022. Even better news for extracts is sales are expected to reach $3.64 billion in five years, growing at a CAGR of 27.28%.

Based on analysis pinpoints drivers for market growth:

  • Changing consumer opinion and increasing awareness about the health benefits of cannabinoids
  • Rise in the demand for cannabidiol from various industries such as food and beverage, personal care and cosmetics
  • Increasing use of cannabidiol cil and infused products in pharmaceutical products
  • Advancements in product developments initiated by the companies worldwide
  • Partnerships, joint ventures, and other strategies to improve the oil industry’s offering

The analysis, published as the online reportGlobal Cannabidiol Oil Market (2022-2027) by Product, Source, Distribution Channel, Application, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis,” discusses continuing constraints to growth, including an analysis of the world’s major regulatory bodies and the rules imposed on the sector — finding increasingly stringent transportation regulations and increased warehousing costs as a constraint to growth.

By geography, the report covers market in the Americas, Europe, Middle East & Africa and the Asia-Pacific. Among the companies mentioned in the report are: Aurora Cannabis, Inc., Canabidol CBD, Canopy Growth Corp., CBD Life UK, CV Sciences, Inc., Elixinol, LLC, Endoca, Folium Biosciences, GW Pharmaceuticals, PLC, Hempura and Isodiol International, Inc.

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Cannaconvo with Peter Su of Green Check Verified

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