The global cannabidiol oil market is anticipated to grow at a considerable CAGR of 16.3% during the forecast period (2023-2030). Cannabidiol oil, or CBD oil derived from cannabis, is a popular natural remedy for many ailments. CBD oil benefits include pain relief and relaxation without any mind-altering effects. The growing involvement of CBD oil the development of medicines for pets is a key factor driving the growth of the global cannabidiol oil. For instance, in May 2022, Polish hemp company Kombinat Konopny unveiled its plans to launch production of pet treats and related products for cats and dogs with the use of cannabidiol (CBD) oil.
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The release will be comprised of three products: a CBD oil based on fish oil for pets, in particular cats; hemp-based treats with CBD for dogs; and hemp-based pellets with CBD for horses. These products will be sold through its online store, however, they will also be available at brick-and-mortar shops. Further, in November 2021, Awshad, a Delhi-based cannabis wellness startup has made foray into the pet care segment with launch of oral oil for pets. Vijaya, a full spectrum oil for pets, which can be consumed orally or given to pets with their food, will help these animals suffering from ailments such as arthritis, anxiety, stress, digestive issues, chronic pain and cancer. Such developments are anticipated to create lucrative opportunities for the future market growth.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Product Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Aurora Cannabis, Medical Marijuana, Inc., ConnOils LLC, NuLeaf Naturals, LLC, and Elixinol among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Cannabidiol Oil Market Report Segment
By Product
By Application
Global Cannabidiol Oil Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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