The North American Cannabidiol Market size is expected to grow at a remarkable CAGR of 36.9% between 2020 to 2025 and worth USD 2.01 Billion by the end of 2025. Steady and progressive growth from countries like U.S. and Canada has helped North America account for most of the share in the global market in 2020.
Increasing usage of cannabidiol oil in North America is a key driving factor for the market to grow. The legalization of the cultivation of cannabis in these regional countries and growing awareness of the health benefits of cannabidiol oil are greatly influencing the demand of the market. On-going research on developing innovative medical purposes using different resources available naturally and increasing chronic disease occurrences further elevate the North America CBD Oil Market.
The growing prevalence of organic-based medicinal products and the rise in the number of people suffering from epilepsy and sleep disorders are expected to favor the market to grow further. Besides, creating awareness through digital advertisements is enhancing the demand for this market eventually. In recent studies, it was declared that cannabidiol oil has several advantages in curing cancer tumor cells effectively, which is further expected to boost the North American Cannabidiol market.
However, the illegalization of the cultivation of marijuana or hemp in some areas is slightly hindering the growth rate of the market in North America. Lack of complete knowledge on crop cultivation to yield high production is also hampering the market demand. Also, stringent rules and regulations by the government in approving the new products is a factor restraining the market’s growth. High complexity in developing new products due to increasing risk factors impedes the Cannabidiol Market demand in North America.
U.S. Cannabidiol Market:
The U.S. Cannabidiol market size is forecasted to grow at a remarkable CAGR of 39.48% between 2020 to 2025. The medical benefits of cannabidiol in treating various diseases such as Alzheimer's and depression are majorly accelerating the U.S. CBD market. Additionally, Y-O-Y growth in the aging population in the United States and growing healthcare expenditure further favor the cannabidiol market in the U.S. to grow. However, high costs associated with CBD products are a significant challenge to the market growth. Companies like Aphria Inc., Aurora Cannabis Inc., Canopy Growth Corporation, Charlotte's Web Holdings Inc., CV Sciences Inc., and Medical Marijuana, Inc. are expected to account for the majority of the U.S. cannabidiol market share during the forecast period.
COVID 19 impact on the North America Cannabidiol Market:
COVID 19 cases are surging, and there is no sign of slowing down until the vaccine is supplied to all the people across the world. Many researchers are developing a drug or vaccine and trying various resources to know which one will be more effective. As of now, government organizations are approving some drugs only for emergency case-patients. To lower the risk of the insidious virus impact, medicinal cannabidiol oil plays an effective role in treating the mild symptoms of the COVID 19. In fact, CBD oil-based medicines are lowering the severity of the symptoms on the patients. For 80% of the population, the coronavirus shows mild symptoms like fever, cold, and cough, but for some people, the severity is worst. Due to the anti-inflammatory properties of CBD oil, it has a high potential to treat the symptoms of COVID 19. Hence, the demand for the Cannabidiol Market in North America has grown faster during this pandemic.
This research report on the North America Cannabidiol Market has been segmented & sub-segmented into the following categories:
By Type:
By Distribution Channel:
By End Users:
By Country:
Geographically, North America held the dominant shares of the market for the past few years and expected to grow at a higher rate in the forecast period. Increasing investments in the development of drugs or vaccines in healthcare are fueling the market demand in this region. The rise in the demand for effective product launches from the public greatly influences the growth rate of the market.
The U.S. Cannabidiol Market is the highest contributing country for the market. The rise in the consumption of cannabidiol oil for various industries is likely to promote the market's demand. The easy availability of CBD oil-based products online is promoting the growth rate of the market.
The Canadian Cannabidiol Market is next to the US is dominating the shares of the Cannabidiol Market. Increasing awareness and growing funds in healthcare by private and public sectors are outraging the market demand in this country. Besides, the increasing prevalence of CBD oil from the food industry elevates the demand of the market.
Companies such as Pharmahemp d.o.o, ENDOCA, NuLeaf Naturals LLC, Folium Biosciences, Elixinol, Cannoid LLC, Medical Marijuana Inc., and Isodiol International Inc. are currently dominating North America Cannabidiol Market.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 CBD Oil Market, By Source Type
6.1.1 Marijuana
6.1.2 Hemp
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 CBD Oil Market, By Distribution Channel
6.2.1 B2C
6.2.2 B2B
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 CBD Oil Market, By End-Use
6.3.1 Personal Care & Cosmetics
6.3.2 Food & Beverages
6.3.3 Pharmaceuticals
6.3.4 Market Size Estimations & Forecasts (2019-2024)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 CBD Oil Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Source Type
7.2.3 By Distribution Channel
7.2.4 By End-Use
8. Key Player Analysis
8.1 Pharmahemp d.o.o
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 ENDOCA
8.3 NuLeaf Naturals LLC
8.4 Folium Biosciences
8.5 Elixinol
8.6 Cannoid LLC
8.7 Medical Marijuana Inc
8.8 Isodiol International Inc
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
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Aug 2020
