Once an illegal and somewhat niche product, now a fast-growing global industry. Cannabidiol (CBD) oil is extracted from cannabis. Even though it comes from marijuana plants, CBD does not create a high effect or any form of intoxication. Cannabidiol (CBD) oil is a natural botanical concentrate that is high in the compound CBD.

In 2019, the global Cannabidiol Oil (CBD Oil) market size was USD 414.7 million, it is expected to reach USD 3197.2 million by the end of 2026, with a CAGR of 33.5% during 2021-2026. But with the Covid-19 outbreak, it has significantly affected the market.

CBD is commonly used to relieve anxiety/depression, it helps the insomnia patients, can alleviate cancer related symptoms and might also have neuroprotective properties. It is rapidly being used in many sectors of the industry, such as - CBD-oil infused beauty products, for pharmaceutical purposes, packaging, food, agriculture, cryptocurrency etc.

CBD oil is not legal everywhere. Certain states that have legalized CBD for medical uses may require users to apply for special licensing.