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CBD Hemp Oil Market is Projected to grow at a CAGR of 28.3% by 2025 | Kazmira, CW Hemp/CW Botanicals, Freedom Leaf, Green Roads, Medical Marijuana

CBD Hemp Oil Market
CBD Hemp Oil Market

Cannabidiol (CBD) is a phytocannabinoid discovered in 1940. It is one of some 113 identified cannabinoids in cannabis plants and accounts for up to 40% of the plant’s extract. In 2018, clinical research on cannabidiol included preliminary studies of anxiety, cognition, movement disorders, and pain.

Global CBD Hemp Oil market size will increase to 1110 Million US$ by 2025, from 150 Million US$ in 2017, at a CAGR of 28.3% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for CBD Hemp Oil.

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This report researches the worldwide CBD Hemp Oil market size (value, capacity, production and consumption) in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions.

This study categorizes the global CBD Hemp Oil breakdown data by manufacturers, region, type and application, also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.

This report focuses on the top manufacturers’ CBD Hemp Oil capacity, production, value, price and market share of CBD Hemp Oil in global market. The following manufacturers are covered in this report: Kazmira, CW Hemp/CW Botanicals, Freedom Leaf, Green Roads, Medical Marijuana, Folium Biosciences, HempLife Today, Cannavest, Pharmahemp, ENDOCA, CBD American Shaman, and Other

The Scope of this Global CBD Hemp Oil Market Report:
1. The analysis CBD Hemp Oil forecast the representation of this market, possessions of supply and demand, and also that the capacity, detail investigation.
2. Even the CBD Hemp Oil report conducts a profound study of rules, policies, present policies, along with international series.
3. Besides that, the income, their set of goods price arrangements for the market, CBD Hemp Oil demand & supply for goods, and also additional elements like primary manufacturers are mentioned.
4. This report begins with the CBD Hemp Oil market statistics and moving to points that are vital, and the dependent market is categorized, the market trend by applications.
5. Applications of CBD Hemp Oil market may also be assessed based on their performances.
6. Different market properties such as CBD Hemp Oil future facets, limits, and growth drivers of every division.

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Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins.

Legal status:

United Nations: Cannabidiol is not scheduled under the Convention on Psychotropic Substances or any other UN drug treaty. In 2018, the World Health Organization recommended that CBD remain unscheduled.

Australia: Prescription medicine (Schedule 4) for therapeutic use containing 2 per cent (2.0%) or less of other cannabinoids commonly found in cannabis (such as ∆9-THC). A schedule 4 drug under the SUSMP is Prescription Only Medicine, or Prescription Animal Remedy – Substances, the use or supply of which should be by or on the order of persons permitted by State or Territory legislation to prescribe and should be available from a pharmacist on prescription.

Following a change in legislation in 2017, CBD was changed from a schedule 9 drug to a schedule 4 drug, meaning that it is legally available in Australia.

Canada: In October 2018, cannabidiol became legal for recreational and medical use.

European Union: In 2019, the European Commission announced that CBD and other cannabinoids would be classified as “novel foods”, meaning that CBD products would require authorization under the EU Novel Food Regulation stating: because “this product was not used as a food or food ingredient before 15 May 1997, before it may be placed on the market in the EU as a food or food ingredient, a safety assessment under the Novel Food Regulation is required.” The recommendation – applying to CBD extracts, synthesized CBD, and all CBD products, including CBD oil – was scheduled for a final ruling by the European Commission in March 2019. If approved, manufacturers of CBD products would be required to conduct safety tests and prove safe consumption, indicating that CBD products would not be eligible for legal commerce until at least 2021. Cannabidiol is listed in the EU Cosmetics Ingredient Database (CosIng).  However, the listing of an ingredient, assigned with an INCI name, in CosIng does not mean it is to be used in cosmetic products or is approved for such use.

Several industrial hemp varieties can be legally cultivated in Western Europe. A variety such as “Fedora 17” has a cannabinoid profile consistently around 1%, with THC less than 0.3%.

Sweden: CBD is classified as a medical product in Sweden.

New Zealand: In 2017 the government made changes to the regulations so that restrictions would be removed, which meant a doctor was able to prescribe cannabidiol to patients.

The passing of the Misuse of Drugs (Medicinal Cannabis) Amendment Act in December 2018 means cannabidiol is no longer a controlled drug in New Zealand, but is a prescription medicine under the Medicines Act provided the product contains no more than two percent THC of total CBD.

United Kingdom: Cannabidiol, in an oral-mucosal spray formulation combined with delta-9-tetrahydrocannabinol, is a product available (by prescription only until 2017) for relief of severe spasticity due to multiple sclerosis (where other anti-spasmodics have not been effective).

Until 2017, products containing cannabidiol marketed for medical purposes were classed as medicines by the UK regulatory body, the Medicines and Healthcare products Regulatory Agency (MHRA) and could not be marketed without regulatory approval for the medical claims. As of 2018, cannabis oil is legal to possess, buy, and sell in the UK, providing the product does not contain more than 0.3% THC and is not advertised as providing a medicinal benefit.

In January 2019, the UK Food Standards Agency indicated it would regard CBD products, including CBD oil, as a novel food in the UK, having no history of use before May 1997, and indicating such products must have authorization and proven safety before being marketed.

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About the author

Cherry Lo

Cherry Lo

Cherry Lo is a general assignment reporter and columnist for The Elegantdaily. Cherry cover health topics, with a special focus on public health.Cherry joined the elegantdaily in June 2018 as an intern after graduating from the University of Maryland at College Park. Cherry can reached at Cherry@elegantdaily.com

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