CBD Oil (Cannabidiol Oil) Market Trends and Insights By Type (Hemp-Derived & Marijuana-Derived), By Application (Cosmetics Industry, Food Industry, Pharmaceuticals Industry & Others), Competitive Market Size, Growth, Share and Forecast to 2027
/EIN News/ — New York, US, May 13, 2022 (GLOBE NEWSWIRE) — CBD Oil Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “CBD Oil Market Information by Type, Application, and Region – Forecast till 2027”, the market will garner a 32% CAGR from 2020 to 2027, and reach USD 3.78 billion by 2027.
Market Synopsis
CBD oil helps in regulating the endocannabinoid system activity, interacting with the neurotransmitters. This characteristic makes it the perfect ingredient for anti-depression and anxiety drugs. The World Anti-Doping Agency (WADA), in 2018 removed cannabidiol oil from the list of prohibited substances, but the synthetic cannabinoids that have the same effects as THC have been prohibited.
CBD oil developers are focused on creating cannabidiol-based skincare, lotions, textile, and pet care products. Booming sales of an extensive line of CBD-fortified products coupled with new product launches as well as expanding product pipeline will offer attractive opportunities to the players, particularly in developing economies.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/7355
