CBD oil is also known as Cannabidiol oil. CBD has skyrocketed popularity over the last few years since its legalization since 2020 and with that growth in popularity also emerged a host of new CBD brands fighting for consumer’s trust and underlying affection. Besides, currently being sold online, CBD oil is also traded in vape shops, by health food stores, and at some grocery stores. The global CBD market is in the center of a much-needed transformation and countries are considering the legality of marijuana, there is an inundation of research on the benefits of the plant, and various new cannabidiol products are being launched by major CBD oil companies and these factors have been giving the CBD oil market a boost over the last few years.
What is CBD: Cannabidiol (CBD) oil is a product that’s derived from cannabis. It is a type of cannabinoid, which are the chemicals naturally found in marijuana plants. Even though it comes from marijuana plants, CBD doesn’t create a “high” effect or any form of intoxication- that is caused by another cannabinoid, known as THC. A THC (Tetrahydrocannabidiol)-free CBD oil means no high, psychoactive effects- only a gentle boost to the body’s inner workings. However, there will of course still be people who hear the word cannabis and instantly jump to the wrong conclusion but with more and more information in circulation we are rapidly moving towards a time where CBD’s non-psychoactive nature is becoming a widely accepted fact. CBD is the second most prevalent of the active ingredients of cannabis (marijuana) and is an essential component of medical marijuana. It is derived directly from the hemp plant, which is a cousin of the marijuana plant.
CBD (Cannabidiol) is commonly used to address Anxiety, Anti-seizure, Neuroprotective, Pain relief, Anti-acne, cancer treatment and for patients who suffer through the misery of insomnia. Also, the study suggests that CBD may help with both falling asleep and staying asleep. It is also used in treating some of the curelest childhood epilepsy syndromes, such as Dravet syndrome and Lennox-Gastaut syndrome (LGS), which typically don’t respond to anti-seizure medications.
In Addition, the Side effects of CBD oil include nausea, fatigue and irritability. CBD can increase the level in your blood of the blood thinner Coumadin, and it can raise levels of certain other medications in your blood by the exact same mechanism that grapefruit juice does.
There are plenty of CBD oils and tinctures on the market today, it’s important to known that not all of them are created equal. There are currently no-over-the-counter (OTC) CBD products approved by the Food and Drug Administration (FDA), and some products may not be as effective or reliable as others.
Global CBD oil market analysis: Cannabidiol has exploded in popularity over the past few years thanks to its wide-ranging medical benefits and absence of psychoactive effects. Indeed, the global CBD oil market accounts for the largest share of the global legal cannabis industry, which is the parent market for the CBD oil segment. As legal and regulatory barriers are being removed, and consumer education is spreading across the world, it is estimated that the global CBD oil market will grow by USD 3.52 billion during 2020-2024 with an estimated CAGR of more than 32% over the next 5 years. Moreover, the market is concentrated. The health benefits of CBD oil will offer immense growth opportunities. Besides, to make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
10 Largest CBD Companies In The World 2021
1. Aurora Cannabis Inc.
Aurora Cannabis is one of the top CBD oil companies in the world which primarily focuses on producing and selling medical marijuana products. The award-winning company also produces psychoactive products, such as THC. Aurora cannabis is all set to become the largest producer of CBD oil with its current production capacity potential to produce 570,000 kg per year. These production facilities position the company for a rapid response to growing demand for CBD oil in Europe and other global markets. Through its fully-owned cannabis distributor Pedanios, Aurora Cannabis has already been able to adhere to the GMP standards obligatory in facilities operating in the European Union.
2. Canopy Growth Corp.
Canopy Growth Corporation, formerly Tweed Marijuana Inc. is a cannabis company based in Ontario. The company advances the world’s perception of cannabis by focusing on research, product development and innovative products capabilities –all presents through brands people trust. By April 2019, Canopy Growth Corporation recently increased its effort to market medical cannabis in the global market to Germany and Brazil. Its products include Bedrocan, a sativa plant type cannabis; Bedropuur, a tetrahydrocannabinol (THC) indica for THC extraction, Bedica, an indica dominant strain of cannabis; Bedrobinol, Bediol, and Bedrolite products, the sativa dominant strains of cannabis.
3. CBD American Shaman
CBD American Shaman is a producer of high-quality hemp oil that contains high amounts of CBD. The company has emerged as one of the largest companies in the CBD oil market owing to its dedication to move CBD out of the typical vape stores and smoke shops and to use CBD for bringing wellness to the world. American Shaman’s CBD oils are made from natural and organic industrial hemp that contains no GMOs, heavy metals, or insecticides and are 100% gluten-free. Its products include hemp oil for pain relief, CBD and terpene rich hemp oil tinctures, skin care products, and canine and feline hemp oil, and they contain high amounts of cannabidiol and natural pure CO2 extracts.
4. CV Sciences Inc.
CV Sciences is a manufacturer and supplier of hemp-based phytocannabinoids such as CBD oil to the beauty care, pet care, nutraceuticals, specialty beverage, and functional food sectors. It is also a maker of pharmaceutical therapeutics. Formerly known as CannaVest, CV Sciences reported impressive growth and profitability this year that has demonstrated the power of its products and brand recognition with the CBD oil industry.
5. Elixinol Global Ltd.
Elixinol is best known for manufacturing and producing high-quality natural and organic hemp products. The Elixinol Group’s portfolio includes three main segments: Elixinol Australia, focused on medicinal cannabis; Hemp Foods Australia, selling food products; and Elixinol USA, which markets dietary supplements. Elixinol is the first firm to launch a CBD product in Japan. Today, the company follows a disciplined approach to drive growth, backed by investment in production capabilities in Colorado.
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