CBD Oil Market to grow by $3.52 bn in 2020, Aurora Cannabis Inc., Canopy Growth Corp., and NuLeaf Naturals LLC, emerge as Key Contributors to growth – Technavio | Coronavirus


LONDON–(BUSINESS WIRE)–Nov 6, 2020–

Technavio has been monitoring the CBD oil market and it is poised to grow by $ 3.52 bn during 2020-2024, progressing at a CAGR of over 32% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

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Technavio has announced its latest market research report titled Global CBD Oil Market 2020-2024 (Graphic: Business Wire)

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a high impact on the CBD oil market. The market growth in 2020 is likely to increase compared to market growth in 2019.

Frequently Asked Questions:

What are the major trends in the market?
Growing legalization of cannabis-based products is a major trend driving the growth of the market.At what rate is the market projected to grow?
The market will accelerate at a CAGR of almost 31.05% and the incremental growth of the market is anticipated to be $ 3.52 bn.Who are the top players in the market?
Aurora Cannabis Inc., Canopy Growth Corp., CBD American Shaman LLC, CV Sciences Inc., Elixinol Global Ltd., ENDOCA BV, Gaia Botanicals LLC, Isodiol International Inc., Medical Marijuana Inc., and NuLeaf Naturals LLC., are some of the major market participants.What is the key market driver?
The health benefits of CBD oil is one of the major factors driving the market.How big is the North America market?
The North America region will contribute 37% of the market share. 

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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Aurora Cannabis Inc., Canopy Growth Corp., CBD American Shaman LLC, CV Sciences Inc., Elixinol Global Ltd., ENDOCA BV, Gaia Botanicals LLC, Isodiol International Inc., Medical Marijuana Inc., and NuLeaf Naturals LLC. are some of the major market participants. The health benefits of CBD oil will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this CBD oil market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

CBD Oil Market 2020-2024: Segmentation

CBD Oil Market is segmented as below:

ProductMarijuana-derived CBD OilHemp-derived CBD OilGeographic LandscapeAPACEuropeMEANorth AmericaSouth America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40147

CBD Oil Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The CBD oil market report covers the following areas:

CBD Oil Market SizeCBD Oil Market TrendsCBD Oil Market Industry Analysis

This study identifies the growing legalization of cannabis-based products as one of the prime reasons driving the CBD oil market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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CBD Oil Market 2020-2024: Key Highlights

CAGR of the market during the forecast period 2020-2024Detailed information on factors that will assist CBD oil market growth during the next five yearsEstimation of the CBD oil market size and its contribution to the parent marketPredictions on upcoming trends and changes in consumer behaviorThe growth of the CBD oil marketAnalysis of the market’s competitive landscape and detailed information on vendorsComprehensive details of factors that will challenge the growth of CBD oil market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

Market ecosystemMarket characteristicsMarket segmentation analysis

PART 04: MARKET SIZING

Market definitionMarket sizing 2019Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

Bargaining power of buyersBargaining power of suppliersThreat of new entrantsThreat of substitutesThreat of rivalryMarket condition

PART 06: MARKET SEGMENTATION BY PRODUCT

Market segmentation by productComparison by productMarijuana-derived CBD oil – Market size and forecast 2019-2024Hemp-derived CBD oil – Market size and forecast 2019-2024Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

Geographic segmentationGeographic comparisonNorth America – Market size and forecast 2019-2024South America – Market size and forecast 2019-2024Europe – Market size and forecast 2019-2024APAC – Market size and forecast 2019-2024MEA – Market size and forecast 2019-2024Key leading countriesMarket opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

Market driversMarket challenges

PART 11: MARKET TRENDS

Growing legalization of cannabis-based productsExponential online retail growthIncreasing frequency of mergers and acquisitions

PART 12: VENDOR LANDSCAPE

OverviewLandscape disruptionCompetitive scenario

PART 13: VENDOR ANALYSIS

Vendors coveredVendor classificationMarket positioning of vendorsAurora Cannabis Inc.Canopy Growth Corp.CBD American Shaman LLCCV Sciences Inc.Elixinol Global Ltd.ENDOCA BVGaia Botanicals LLCIsodiol International Inc.Medical Marijuana, Inc.NuLeaf Naturals LLC

PART 14: APPENDIX

Research methodologyList of abbreviationsDefinition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201106005413/en/

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KEYWORD:

INDUSTRY KEYWORD: ALTERNATIVE MEDICINE HEALTH

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/06/2020 08:15 PM/DISC: 11/06/2020 08:16 PM

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