Cannabidiol (CBD) oil is all the rage these days with products offered by many leading CBD oil companies flooding the global market. Much touted as a panacea for multiple health problems from pain to anxiety and nausea, CBD oil is being added to a gamut of consumer items including vape oils, bath bombs, body lotions, and other beauty products.?It is currently being sold online, in vape shops, by health food stores, and at some grocery stores. The global cannabis market is in the center of a much-needed transformation. Countries are reconsidering the?legality of marijuana, there is an influx of research on the benefits of the plant, and various of new cannabidiol products are being launched by major CBD oil companies, and these factors have been giving the CBD oil market a boost in recent years.
Global CBD Oil Market Analysis
CBD has exploded in popularity over the past few years thanks to its wide-ranging medical benefits and absence of psychoactive effects. Indeed, the global CBD oil market accounts for the largest share of the global legal cannabis industry, which is the parent market for the CBD oil segment. As legal and regulatory barriers are being removed and consumer education is spreading across the world, Technavio’s market analysts estimate that the global CBD oil market will grow?by USD 3.52 billion during 2020-2024 with an estimated CAGR of more than 32% over the next 5 years.
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Global CBD Oil Market Analysis 2020 - 2024
Top 10 CBD Oil Companies in the World 2019
CV Sciences is a manufacturer and supplier of hemp-based phytocannabinoids such as CBD oil to the beauty care, pet care, nutraceuticals, specialty beverage, and functional food sectors. It is also a maker of pharmaceutical therapeutics. Formerly known as CannaVest, CV Sciences reported impressive growth and profitability this year that has demonstrated the power of its products and brand recognition with the CBD oil industry. The company PlusCBD product line is well positioned for mainstream approval and expanded distribution as the health and wellness sector continues to embrace CBD standardization and commercialization. CV Sciences recently increased its retail store count to 1968 organic health food stores, making it one of the world’s largest CBD oil companies.
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Endoca is?among the leading CBD oil companies and one of the largest CBD oil manufacturers by volume. The company is based out of Europe with an office in the US. It claims to manufacturer products from certified organic and natural cannabis (hemp) plants, grown and cultivated without pesticides or herbicides. Endoca produces hemp products such as CBD oil and other cannabinoids, and it grows, harvests, and processes its plants itself, using its own equipment and machinery to deliver the finished products. The company also has its own shipping and warehouse facility. Endoca’s next big step is to use solar energy as a sustainable source of power.
Bluebird Botanicals, also known as Gaia Botanicals, is?an?award-winning CBD oil company and a leading manufacturer of hemp CBD consumer products. Although the majority of its sales occur online, its products are also sold at its physical retail stores and other third-party retailers. For years, the company has been producing private label CBD products for other companies across the globe and also selling its pure extracts to businesses. Bluebird Botanicals currently has distributors in Japan, South America, and Europe, and the company is working to enter other regions too. Its products include oil extracts, vape items, CBD capsules, and pet products.
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Isodiol International has been developing pharmaceutical and health and wellness products for a long time, and today the company is supporting the pharmaceutical sector at large with its recently approved CBD products as an active pharmaceutical ingredient. The company is currently focused on the health benefits that hemp delivers and is actively marketing hemp-based consumer products and solutions. The company distributes its wide-ranging product portfolio through various channels domestically and internationally.
Medical Marijuana is an industrial hemp and cannabis-based products vendor. The company has become a market leader in CBD oil products manufactured specifically for nutraceutical, cosmeceutical, and pharmaceutical industries. Today, Medical Marijuana operates through various subsidiary companies, including HempMeds, Wellness Managed Services, Red Dice Holdings, CanChew Biotechnologies, Hempwire, Kannaway, HempVap, and HempMeds Brasil. In 2017, HempMeds Brasil, Medical Marijuana’s subsidiary, received authorization from the Brazilian government to sell its products in the country for the treatment of individuals with autism spectrum disorder (ASD), multiple sclerosis, and Alzheimer’s disease.
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Aurora Cannabis (AC)
Aurora Cannabis is one of the top CBD oil companies in the world which primarily focuses on producing and selling medical marijuana products. The award-winning company also produces psychoactive products, such as THC. Aurora cannabis is all set to become the largest producer of CBD oil with its current production capacity potential to produce 570,000 kg per year. These production facilities position the company for a rapid response to growing demand for CBD oil in Europe and other global markets. Through its fully-owned cannabis distributor Pedanios, Aurora Cannabis has already been able to adhere to the GMP standards obligatory in facilities operating in the European Union.
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CBD American Shaman
CBD American Shaman is a producer of high-quality hemp oil that contains high amounts of CBD. The company has emerged as one of the largest companies in the CBD oil market owing to its dedication to move CBD out of the typical vape stores and smoke shops and to use CBD for bringing wellness to the world. American Shaman’s CBD oils are made from natural and organic industrial hemp that contains no GMOs, heavy metals, or insecticides and are 100% gluten-free. Its products include hemp oil for pain relief, CBD and terpene rich hemp oil tinctures, skin care products, and canine and feline hemp oil, and they contain high amounts of cannabidiol and natural pure CO2 extracts.
Canopy Growth Corporation
Canopy Growth Corporation is one of the leading medical marijuana companies that manufactures and sells CBD oil products through its well-known subsidiary Bedrocan. Bedrocan is touted as one of the world’s most experienced producers and exporters of legal medicinal cannabis with product lines containing five different cannabis strains. Canopy Growth Corporation recently increased its effort to market medical cannabis in the global market to Germany and Brazil. Its products include Bedrocan, a sativa plant type cannabis; Bedropuur, a tetrahydrocannabinol (THC) indica for THC extraction, Bedica, an indica dominant strain of cannabis; Bedrobinol, Bediol, and Bedrolite products, the sativa dominant strains of cannabis.
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Elixinol is best known for manufacturing and producing high-quality natural and organic hemp products. The Elixinol Group’s portfolio includes three main segments: Elixinol Australia, focused on medicinal cannabis; Hemp Foods Australia, selling food products; and Elixinol USA, which markets dietary supplements. Elixinol USA is the group’s largest?business, producing and distributing CBD nutraceuticals to the US market and to other countries including Brazil, Japan, Puerto Rico, and the UK. Elixinol is the first firm to launch a CBD product in Japan. Today, the company follows a disciplined approach to drive growth, backed by investment in production capabilities in Colorado.
IRIE CBD is one of the leading health and wellness products companies, focused on providing organic options for health and wellness and high-quality CBD hemp products at affordable prices. Its CBD products are sourced exclusively from non-GMO, organically grown, sustainable hemp to phytonutrient-rich hemp oils and terpenes. Last year, the company launched two new products, adding to its ever-expanding portfolio of CBD health and wellness products.
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Future of the Top CBD Oil Companies: CBD Oil Market Trends 2020 to 2024
CBD derived from marijuana and hemp is touted as having many health-promoting benefits. Vendors in the market have been offering CBD oil as prescription drugs to licensed medical practitioners. CBD oil has anti-inflammatory properties, and is used to treat epilepsy. Moreover, CBD oil has gained significant use among smokers who want to quit and want to minimize withdrawal symptoms. These beneficial factors are expected to contribute to CBD oil market growth over the forecast period. Identifying future growth opportunities, vendors have started focusing on product innovation to increase their consumer bases.
The rise in the number of internet users over the last few years and the ready-to-buy attitude of customers are boosting the popularity of online retailing. Indeed, e-commerce is all the rage these days for both business-to-consumer (B2C) and business-to-business (B2B) operations. This trend is encouraging several CBD oil companies to focus on the internet-savvy customer segment and explore the new online retailing format based on websites and portals. This mode of business will definitely help vendors reduce operating costs and overheads, which are lower in the online retailing format compared with the physical store format. Consequently, the massive growth in the number of online shoppers globally is helping companies grow in terms of sales of CBD oil products as well as profits through this channel.
Frequently Asked Questions in the?Global CBD Oil Market
- What is the current CBD oil market size?
- What are the major challenges in the CBD oil market?
- Who are the leading CBD oil companies in the cannabis market?
- What are the CBD oil market trends?
- What are the factors influencing the market shares of the Americas, APAC, EMEA?
All the detailed answers can be found in the following market report: