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The cannabidiol (CBD) oil market boasts a competitive landscape characterized by a diverse array of key players competing fiercely for market dominance, leveraging extensive product lines and brand strength. The start-ups and small players prioritize quality and innovation, driving competition amid rapid industry growth and the continuous emergence of new entrants.
Prominent players operating in the cannabidiol oil industry are as mentioned below:
Global cannabidiol (CBD) oil industry size was valued at USD 5.2 billion in 2023 and is expected to reach USD 24.7 billion by 2032, due to the growing acceptance and legalization of cannabis-derived products for medicinal and therapeutic use
The hemp source segment is set to grow at 18.9% CAGR between 2024
The original product type segment recorded 62.2% of the CBD oil market share in 2023, due to the rising need for catering to the increasing consumer demand for natural remedies.
North America held 59% of the cannabidiol oil industry share in 2023, led by increasing adoption for treating psychological disorders along with the growing legalization of hemp and marijuana.