According to the research 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 market valuation is expected to reach USD 24.08 billion by the end of the forecast period.
 

As per the report findings, increasing investment and R&D for medicinal uses of cannabis and are expected to drive global CBD oil market growth during the forecast period. For instance, Oxford University announced to launch a USD 12.36 million medical cannabis research program. Moreover, growing awareness regarding the various type of cannabis-based products is rendering a positive impact on the industry outlook.
 

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Notable, CBD is generally utilized to relieve anxiety and assists insomnia patients in falling & staying asleep. The production and consumption of the product across the various regions is a subject to the ongoing research regarding to the positives and negatives of CBD is ongoing. 
 

Based on application spectrum, global CBD oil market share from pharmaceutical segment is anticipated to expand considerably during the forecast period. This can be attributed to the affirmation of the therapeutic properties of cannabis by the U.S. National Academies of Sciences, and WHO, which in turn has challenged un-supportive views and attracted the attention of healthcare providers, governments, research scholars and consumers. The medical community has recognized its value and supported its legalization. As a result, many facilities are being established to utilize it in the form of medicines.
 

Considering the geographical landscape, global CBD oil market size spans across are North America (U.S., Canada), Europe (UK, France, Italy, Germany, Netherlands, Poland, Croatia, Switzerland, Czech Republic), Asia Pacific (Australia, New Zealand, Japan, South Korea, China, India), Middle East & Africa (Israel, South Africa), and Latin America (Mexico, Brazil, Chile, Colombia, Argentina).
 

Key players impacting CBD oil market are Tilray, Inc., PharmaHemp, NuLeaf Naturals, LLC, Medical Marijuana, Inc., Isodiol International, Inc., GW Pharmaceuticals, plc, Green Roads, Gaia Botanicals, LLC, Folium Biosciences, Endoca, Elixinol Global Ltd., Diamond CBD, Inc., CV Sciences, Inc., Charlotte’s Web, Inc., Canopy Growth Corp., Cannoid, LLC, Aurora Cannabis, Inc., and Aphria, Inc.