As per the report titled ‘CBD Oil (Cannabidiol Oil) Market Share, Size, Trends, Industry Analysis Report, By Source; By Grade; By Form; By Application; By Regions; Segment Forecast, 2020 -2027’, available with Market Study Report, global CBD oil (cannabidiol oil) market is anticipated to record an appreciable growth rate during 2020-2027 and accumulate USD 24.08 billion by the end of the forecast timeframe.
 

According to the report findings, legislation of medical marijuana and its increasing scope in the pharmaceutical industry are driving global CBD oil (cannabidiol oil) market growth. However, substance abuse among younger generation is hindering the industry expansion.
 

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For the record, CBD is generally used to relieve anxiety and aid insomnia patients in sleeping. CBD manufacturers have faced heat by government for claiming it as a potential cure for cancer. The range of pros and cons of CBD is yet to be known. However, confirmation of the therapeutic applications of cannabis by the U.S. National Academies of Sciences and the WHO has positively influenced global CBD oil (cannabidiol oil) market outlook.
 

Moreover, investment and funding in R&D will further enhance the business landscape. For instance, Oxford University, in 2017, announced to launch a USD 12.36 Mn medical cannabis research program. Besides, demand for therapeutics and treatment in elderly population, and its applications in consumer-friendly products are projected to enhance the growth of global CBD oil (cannabidiol oil) market over the forecast duration.
 

Considering the regional outlook, global CBD oil (cannabidiol oil) market size spans across North America (US, Canada), Europe (UK, Germany, France, Italy, Netherlands, Poland, Croatia, Czech Republic, Switzerland), APAC (China, India, Japan, Australia, South Korea, New Zealand), MEA (Israel, South Africa), and Latin America (Mexico, Colombia, Brazil, Argentina, Chile).
 

Key players impacting the global CBD oil (Cannabidiol Oil) market trends are Tilray, Inc., PharmaHemp, NuLeaf Naturals, LLC, Medical Marijuana Inc., Isodiol, GW Pharmaceuticals, Green Roads, Gaia Herbs, Folium Biosciences, Endoca, Elixinol LLC, Diamond CBD, CV Sciences, Inc., Charlotte’s Web, Canopy Growth Corp., Cannoid LLC, Aurora Cannabis, Inc., and Aphria Inc.