The need will only increase, especially as more Gen X and Baby Boomer patients choose complementary medicine over pharmaceutical drugs for their health. Some research shows that CBD oil is effective for various types of pain such as back pain and nerve pain. It is used for various diseases like anxiety, insomnia, chronic pain, and addiction. CBD oil is intended to use for maintaining body weight, and metabolism, treating skin disease, helping to reduce blood pressure, as well as reducing inflammation & pain.
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Market Dynamics
Rising Prevalence of Anxiety And Depression Disorder With The Surge In The Global Geriatric Population Will Drive.The market is driven by the rising prevalence of anxiety and depression disorder with the surge in the global geriatric population. Large number of people suffer from mental health disorders such as anxiety, stress, and depression, globally. Also, according to the World Health Organization By this time, there will The number of individuals in the world Between 2020 and 2050, the number of people 80 or older is projected to triple, This will result in a massive demand for CBD oil to alleviate the symptoms of stress and to provide relief to the patients.
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Segment Analysis
The global CBD oil market is segmented based on product, product category, types, category, application, distribution channel and region.Rising Demand For Cosmetics And Personal Care Products Boost The Blended Segment Growth CBD oil have been segmented by product as original and blended. Blended segment accounted for the highest market share in 2022 due to its demand for terpenes, flavonoids, naturally-occurring phytocannabinoids for making flavoured cosmetics and personal care products. Several leading players are launching CBD oil-based products to provide high-quality flavoured skincare, cosmetics and personal care products. For instance, on January 10, 2021, Avon launched its first CBD-infused facial oil named green goddess facial oil.
Competitive Landscape
The major global players include Medical Marijuana, NuLeaf Naturals, Aurora Cannabis, Gaia Herbs, ENDOCA, Diamond CBD, FOLIUM BIOSCIENCES, CV Sciences, Inc, ConnOils LLC, IrieCBD, PureKana, CBD American Shaman, Canopy Growth, Elixinol Global Limited and Kazmira.
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