Cannabidiol Oil Market Likely to Impose Positive Growth Trend during 2020-2030
The Cannabidiol Oil Market was worth US$ 5.4 Billion in 2019 and is expected to expand at a CAGR of 20% through 2030. The cannabidiol oil is majorly being used in wellness and medical sectors owing to its healing properties. Cannabidiol oil is commonly popular as CBD. CBD offers several health benefits which is anticipated to propel the growth of global market during the forecast period. CBD has pain relieving properties which makes it useful in treatment of chronic pain by together with neurotransmitters, reducing inflammation, and impacting endocannabinoid receptor activity. It can also reduce depression and anxiety. According to a study conducted by WHO, depression is one of the largest contributors in rising occurrences of disability. However, anxiety holds the sixth position. Moreover, cannabidiol oil helps in reducing acne, contain neuroprotective properties, and helps in improving heart health. Moreover, government approvals in several nations such as? is anticipated to increase the product adoption and utilization in forthcoming years.
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