The global CBD oil market was valued at USD 7.29 Billion in 2024, driven by the increasing legalisation of cannabinoids in various countries. The market is anticipated to grow at a CAGR of 18.10% during the forecast period of 2025-2034 to achieve a value of USD 38.48 Billion by 2034.
Base Year
Historical Year
Forecast Year
Value in USD Billion
2025-2034
CBD Oil Market Outlook
*this image is indicative*
CBD oil, derived from the cannabis plant, is a natural compound known for its potential therapeutic benefits. It contains cannabidiol (CBD), a non-psychoactive substance, and is typically extracted from hemp to ensure low levels of tetrahydrocannabinol (THC). Renowned for its anti-inflammatory, analgesic, and anxiolytic properties, CBD oil is used to manage conditions such as chronic pain, anxiety, epilepsy, and sleep disorders. Available in various forms like tinctures, capsules, and topicals, CBD oil continues to gain popularity as a natural wellness alternative with expanding applications in medical and lifestyle sectors.
New Product Launches Expected to Boost Market Growth
With increasing consumer interest in natural wellness products and advancements in cannabinoid delivery systems, the CBD oil market is set for significant expansion. For instance, in March 2024, Avicanna launched its new product, RHO Phyto Micro Drop 100, a proprietary 10% CBD oral formulation free from THC. This product uses inverted emulsion technology, which enhances the absorption of cannabinoids, ensuring more efficient effects for users. Exclusively available to Canadian patients with medical authorization through the MyMedi.ca platform, this innovation is expected to boost the adoption of CBD-based therapies in medical markets. The launch of such advanced delivery systems will likely drive market growth by meeting the increasing demand for effective and convenient CBD products in the medical space.
Companies Expanding their Presence to Meet Rising CBD Oil Market Demand
Rising consumer preference for natural alternatives in skincare and wellness products is propelling the CBD oil market forward. For instance, in June 2024, NOW, a leading natural products company, ventured into the cannabidiol market by launching three new CBD-infused topical products under its NOW Solutions line. These products, which feature broad-spectrum hemp extract, contain CBD and other beneficial compounds from the cannabis plant but exclude THC. This launch marks NOW’s first foray into the CBD market and is expected to drive the adoption of CBD-based products in the wellness and skincare segments. With increasing consumer awareness and demand for CBD-infused cosmetics, this move is poised to expand the market’s consumer base, contributing significantly to market growth in the forecast period.
The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:
CBD Oil Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Source
Market Breakup by Application
Market Breakup by Distribution Channel
Market Breakup by Region
Hemp to Lead the Market Segment by Source
The hemp segment is expected to dominate the market due to its legal status and broader acceptance globally. Hemp-derived CBD is non-psychoactive, making it more widely accessible and less regulated compared to marijuana-derived CBD. The increasing demand for wellness products such as CBD oils in food, beverages, and cosmetics further supports hemp's market leadership. As consumer awareness grows around the therapeutic benefits of CBD, particularly in treating chronic pain and mental disorders, the hemp segment is poised for robust growth. This trend is expected to continue, driving market expansion in the forecast period.
CBD Oil Market Segmentation by Application to Hold Notable Share
The pharmaceutical application segment holds the substantial market share, driven by increasing recognition of CBD's therapeutic potential. CBD oil's role in treating chronic pain, mental disorders, and cancer-related symptoms has gained traction, particularly in regions with evolving cannabis laws. As research advances and more clinical studies demonstrate the efficacy of CBD, especially in pain management, pharmaceutical companies are expanding their portfolios. This trend is expected to propel the segment’s growth further, with significant market demand for pharmaceutical-grade CBD oil during the forecast period.
Online Pharmacy to Hold Substantial CBD Oil Market Value by Distribution Channel
Online pharmacies are predicted to lead the share by distribution channel for CBD oil due to the growing trend of e-commerce and consumer preference for convenient shopping. The ability to purchase CBD oil from the comfort of home, along with access to a wider range of products, fuels this shift. Additionally, the rising popularity of direct-to-consumer models and home delivery services has contributed to online pharmacies' prominence. With increasing consumer trust in online platforms and the expanding availability of CBD oil, this distribution channel is expected to drive substantial market growth in the coming years.
North America is expected to hold the largest market share due to its early adoption and regulatory developments supporting the use of CBD products. The United States, in particular, has a robust cannabis market and a legal framework that enables the growth of CBD-based products, ranging from oils to edibles. Increasing consumer demand for natural wellness products and the growing awareness of CBD's health benefits further fuel this market. The region's advanced retail infrastructure, including e-commerce, also contributes significantly to market expansion.
Europe is also witnessing a surge in demand, driven by favourable regulations in countries like the UK, Germany, and Switzerland. Europe’s broadening CBD product availability and increasing consumer interest in alternative therapies position it for continued market growth.
The key features of the market report comprise patent analysis, clinical trials analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:
Headquartered in Boulder, Colorado, Charlotte’s Web was founded in 2013 and is a prominent leader in the CBD oil market. The company is renowned for its high-quality, full-spectrum CBD products, which include oils, capsules, topicals, and gummies. Charlotte’s Web focuses on promoting wellness and health through plant-based solutions, offering products designed to support various health needs, such as stress management, sleep, and recovery. With rigorous quality control and third-party testing, Charlotte’s Web ensures its products meet high standards for safety and efficacy.
Medterra CBD, established in 2017 and based in Irvine, California, is a leading manufacturer of CBD products aimed at promoting overall wellness. The company’s product range includes CBD oils, tinctures, topicals, and capsules, all of which are formulated from organically grown hemp. Medterra is committed to producing high-quality, affordable CBD products, using non-GMO hemp and employing strict testing procedures to ensure purity and potency. Their offerings are focused on pain relief, anxiety reduction, and better sleep, catering to a wide range of consumer needs.
Founded in 2013 and headquartered in Deerfield Beach, Florida, Green Roads is a well-established player in the CBD market. Known for its pharmacist-formulated CBD oils, Green Roads offers a diverse portfolio that includes tinctures, capsules, edibles, topicals, and pet products. The company prides itself on its high-quality, full-spectrum CBD formulations designed to support various health concerns such as stress, pain, and sleep disorders. Green Roads also emphasizes transparency and lab testing to ensure that its products meet rigorous safety and quality standards.
Elixinol Wellness Limited, founded in 2014 and headquartered in Sydney, Australia, is a global leader in CBD-based wellness products. With a strong presence in both the U.S. and international markets, Elixinol offers a range of CBD oils, capsules, topicals, and edibles designed to promote overall health and wellness. The company focuses on using organic hemp and sustainable farming practices. Elixinol also adheres to strict quality control measures and third-party testing, ensuring that its products are both safe and effective for a wide variety of consumer health needs.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the market include Canopy Growth Corporation, CBDistillery, Cannabidiol Life, Lazarus Naturals, Aurora Cannabis Inc., and Endoca.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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