cannabidiol market

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2022
Medicinal Usage of Cannabidiol Oil to Rise
Sharply in U.S. in Coming Years
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With its plethora of health benefits and close
association with cannabis or marijuana, as it is
popularly known, cannabidiol (CBD) oil is one
such controversial substance that makes doctors
and medical researchers come face to face with
the conservative figureheads of the society.
However, with growing public awareness and
government support, the stigma associated with
CBD oil is rapidly going away and the product is
finding more and more consumers all over the
world. In the recent times, many countries such
as the U.S. and Canada have legalized the usage
of the compound and in the coming years, many
more will follow. Several countries in
Asa-Pacific (APAC), Europe, and Latin America
(LATAM) such as the U.K., Norway, Spain, South
Korea, Thailand, Japan, Mexico, South Africa, and
Brazil have followed the U.S. and Canada and
allowed the complete or partial sale of various
cannabidiol-containing items in the last few
years. Request for sample copy of this report
https//www.psmarketresearch.com/market-analysis/c
bd-oil-market/report-sample This has, in turn,
caused a sharp surge in the consumption of CBD
oil. This product is being consumed for treating
anxiety and depression, reducing pain,
alleviating cancer-related symptoms, and reducing
acne. Moreover, this product has several
heart-health friendly and neuroprotective
symptoms, owing to which, it is increasingly
being used in various medical treatments and
healthcare programs for disease management and
treatment. Besides this, the legalization of CBD
oil is also causing job creation in several
countries.
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By legalizing the cultivation of cannabis, the
governments of many countries are creating
additional jobs. This is because, now, many
people are taking up cannabis cultivation and
being hired by businesses selling CBD oil.
Moreover, the approval being given to the
production of marijuana in several countries is
creating jobs related to the commercialization,
mass production, and supply of the product. This
way the legalization of cannabis usage is
creating jobs across the world. The ballooning
usage of cannabidiol oil in several countries is
causing the advancement of the global cannabidiol
(CBD) oil market. As a result, the market
attained a revenue of 1,735.1 million in 2019
and is predicted to progress at a CAGR of 24.3
between 2020 and 2025. Cannabidiol is one of the
more than 100 chemical compounds found in the
marijuana or cannabis plant. Its a cannabinoid
or a non-psychoactive chemical, which has been
extracted from the cannabis plant. Depending on
product, the CBD oil market is categorized into
cartridges, capsules, topicals, and tinctures.
Out of these, the tinctures category is predicted
to demonstrate the fastest growth in the market
in the forthcoming years, on account of the
rising requirement for medical-use cannabidiol
for treating patients diagnosed with anxiety,
pain, movement disorders, and depression.
Moreover, these products are widely available
through various distribution channels such as
e-commerce websites, specialty and retail stores,
and pharmacies. Browse full report at
https//www.psmarketresearch.com/market-analysis/c
bd-oil-market According to PS Intelligence, a
market research firm based in India, the North
American CBD oil market will exhibit the highest
growth during the coming years. The large-scale
utilization of the compound in the U.S. and the
presence of several companies such as Aroura
Cannabis Inc.,Tilray Inc., and Medical Marijuana
Inc. who are investing in the cultivation,
storage, and distribution of cannabis in the U.S.
are the major factors causing the boom of the
market in this region. Hence, it can be said
without any doubt that the sales of CBD oil will
surge all over the world and especially in North
America in the upcoming years, owing to the
rising cultivation of cannabis and the increasing
usage of CBD oil for treating various medical
conditions and ailments in many countries across
the world.
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Market Segmentation

• By Product Type
• Cartridges
• Topicals
• Capsules
• Tinctures
• Others (Pet Products, Spray, and Food and
  Beverages)

• By Geography
• North America CBD Oil Market
• Europe CBD Oil Market
• Asia-Pacific (APAC) CBD Oil Market
• Rest of Word (RoW) CBD Oil Market

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