How CBD Hemp Oil Become Billion-Dollar Industry

Below are the leading key players to become CBD hemp oil becomes billion- dollar industry are American Shaman, Aurora Cannabis, ENDOCA, FOLIUM BIOSCIENCES, NuLeaf Naturals, LLC, Canopy Growth Corporation, Elixinol Group, Medical Marijuana Inc., CV Sciences, Inc., Aphria.

CBD hemp oil is derived from a variety of cannabis sativa plants. The hemp contains less than 0.3% of the compound called tetrahydrocannabinol (THC). The properties of the CBD hemp oil, such as anti-inflammatory, not clogging pores, and superior moisturization properties, have enhanced its utilization in medicinal products, edibles, and other products such as skincare and wellness. The growing research for cannabis in the medical sector has increased demand for cannabidiol oil to treat various symptoms caused to due chronic diseases.

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As the world awaits the legalization of recreational cannabis, participants in the CBD oil market are striving establish themselves to the consumers as the most reliable names acquiring shelf space and enhancing retail relations. These companies are most likely to make the largest profits when cannabis is legalized as they will already have a strong premise to launch their cannabis business and consumers who will come to buy recreational cannabis would prefer the same brand they rely on for the CBD oil.

U.S. based National Institutes of Health has been reported to have doubled its CBD research funding over the past 5 years and in 2019 $20 million was spent on CBD research compared to only $9 million in 2015. Research on CBD is extensive and several well-known institutes are showing greater interest in the matter. For instance, while Johns Hopkins University is studying whether oral CBD can curb smoking habits, a study is being conducted in Stanford University to evaluate if CBD can control epilepsy.

CBD oil market comprises four regional categories namely Americas, Europe, Asia Pacific and MEA. Owing to increased demand for CBD oil based products, the CBD oil market is slated to accrue a significant portion of its revenue from the business in the Americas. The WHO estimates that 22.2 million Americans use CBD oil and related products for various reasons.

For instance, Parkinson’s UK is leading a clinical trial that is aimed at demonstrating the benefits and efficacy of CBD oil in controlling hallucinations and delusions, two of the most disturbing symptoms of the disease. Parkinson’s UK is investing £1.2 million and collaborating with King’s College London for the trial. The cosmetics CBD oil industry is anticipated to witness a massive CAGR of 38.80% over the analysis period.