CBD Oil Market Size Projected Steady Increase In Year-to-year Growth Exceeding $1 Trillion by 2025

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PALM BEACH, Florida, May 28, 2020 /PRNewswire/ -- Under the extremely large Cannabis umbrella, it is sometimes hard to remember what all the abbreviations stand for and what those products (infused or not) actually do or are used for. There is THC, the ingredient in marijuana that gets you high, phytocannabinoids cannabigerol (CBG), cannabichromene (CBC), cannabinol (CBN), and tetrahydrocannabivarin (THCV), as well as terpenes and flavonoids… but CBD (cannabidiol) is the one that stands out… and should be remembered. It is projected to continue to post impressive revenues for years to come. The cannabidiol market is projected to continue its growth through the next several years. A recent report from Brand Essence Research said that the Cannabidiol Oil Market, which was valued at USD 23.37 Million in 2018, is expected to reach approximately USD 1.06 Trillion by 2025 with the CAGR of 21.5% over the forecast period. Cannabidiol oil is a naturally occurring substance which is extracted from the cannabis sativa plant and it is used for various medical purposes. Its prolonged use can cause various side effects due to which its legalization is the debate topic for the authorities. It is still banned in most of the countries but also legalized for the medical use under stringent regulations. These countries include U.S., Canada, UK, Sweden and others. Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTCQB: NUGS), cbdMD, Inc. (NYSE: YCBD), The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) (TSX: TGOD), Cronos Group Inc. (NASDAQ: CRON) (TSX:CRON), Sundial Growers Inc. (NASDAQ: SNDL).

A report from Technavio said this market will continue to grow, saying: "The CBD oil market size will grow by $3.52 billion during 2020-2024. The market's growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth. The growth of the CBD oil market in North America is primarily attributed to the significant presence of leading CBD oil product companies in the region. The growing awareness about the health benefits of CBD oil products and the rising legalization of the use of marijuana products in the US are also driving CBD oil market growth.