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Cannabidiol (CBD) oil market Analysis: Projected to Grow at a CAGR of 32.5% During 2019 to 2027
March 2, 2021 | by admin |
Market Insights
The CBD oil market is expected to grow at a CAGR of 32.5% during the forecast period from 2019 to 2027, starting from US$ 534.4 Mn in 2018.
“New product launches by top manufacturers support the growth of the market”
Cannabidiol oil is gaining importance due to a variety of oil-related benefits. CBD helps reduce chronic pain, relieves stress and improves heart health. Rising expenditure on healthcare worldwide promotes the growth of the market. In addition, the use of CBD oil as a major ingredient in body and skincare products promotes market growth. As per the research conducted by Hexo Corp in North America suggests that in the year 2018, CBD sales in the U.S. accounts for around US$ 2 billion, the report also suggests that the sales of CBD will increase five times by the year 2025. Additionally, research studies s
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cannabidiol, or
CBD, skyrockets prompting corporations to buy stakes in cannabis companies thousands remain imprisoned for weed-related offenses. Most are people of color, while the investors and manufacturers tend to be white.
That irony is not lost on Cure Crate, a Los Angeles-based CBD-product subscription service, which operates on a “dual platform of wellness advocacy and social justice.” It exposes minorities to business opportunities in the industry and provides assistance to marijuana offenders and ex-offenders.
The company was launched in early 2020 by brand strategist and former William Morris talent agent Sean Wynn and EY health consultant Alexandra Mulconnery.
“We started out to create something that would provide quality CBD products and provide them in a diverse experience. We come at it from the perspectives of a black male and a woman, both underrepresented in the fast-growing field of cannabis,” said Wynn.
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