CBD Oil Market
CBD Oil Market Size To Grow At A CAGR Of 28.60% In The Forecast Period Of 2024-2032.
30 NORTH GOULD STREET, SHERIDAN, WYOMING, UNITED STATES, October 11, 2023 /EINPresswire.com/ — CBD Oil Market Outlook
According to a new report by Expert Market Research titled, “Global CBD Oil Market Value, Share, Size, Analysis, Report and Forecast 2024-2032″, the CBD oil market reached a value of USD 373.44 million in 2023. Aided by the rising trend of health and wellness and growing legalisation of cannabinoids, the market is projected to further grow at a CAGR of 28.60% between 2024 and 2032 to reach a value of USD 1,733.80 million by 2032.
CBD (Cannabidiol) oil is a naturally occurring compound extracted from the hemp plant, renowned for its therapeutic properties. Unlike THC (Tetrahydrocannabinol), CBD doesn’t possess psychoactive effects, which makes it a favoured choice for individuals looking to obtain the health benefits of cannabis without the “high”. Commonly consumed as a wellness supplement, CBD oil has been studied for its potential role in easing symptoms of ailments such as chronic pain, anxiety, depression, and even certain types of epileptic seizures.
A significant global factor driving the CBD oil market growth is the burgeoning consumer interest in health and wellness products. With a growing body of research underscoring the possible health benefits of CBD, consumers globally are becoming…
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