GITNUX MARKETDATA REPORT 2024

Cbd Oil Industry Statistics

The CBD oil industry is expected to continue its impressive growth trajectory, with global sales projected to reach $23.7 billion by 2023.

Statistic 1

"By 2022, it’s projected that the U.S. CBD market will be worth $1.8 billion."

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Statistic 2

"49% of respondents in a 2019 survey said they use CBD oil for pain management."

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Statistic 3

"An estimated 14% of Americans personally use CBD products."

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Statistic 4

"The European CBD market is estimated to be worth nearly 1.7 billion euros by 2025."

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Statistic 5

"As of 2020, 64% of U.S. adults were familiar with CBD oil and related products."

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Statistic 6

"CBD oil sales in the United States grew by 706% in 2019."

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Statistic 7

"CBD oil usage is more prevalent in urban areas, accounting for 44% of total usage."

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Statistic 8

"There was a significant regulatory shift in 2018 when the U.S. legalized hemp-derived CBD products through the Farm Bill."

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Statistic 9

"42% of worldwide CBD users take it daily."

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Statistic 10

"The global CBD oil market size was valued at $2.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028."

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Statistic 11

"The age group between 18-29 years old forms the largest consumer base of CBD oil products."

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Statistic 12

"Online sales of CBD products represented approximately 60% of the U.S. market in 2020."

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Statistic 13

"33% of Millennial users prefer CBD oil tinctures and drops."

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Statistic 14

"The U.S. CBD pet product market is forecast to reach $125 million in annual sales by 2022."

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Statistic 15

"In 2021, the United States held a significant share of the global CBD market, which was valued at approximately $3 billion."

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Statistic 16

"Female consumers account for 55% of the total CBD oil market."

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Statistic 17

"Product innovation is driving market growth, with skincare products accounting for 17% of the CBD market in 2021."

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Statistic 18

"The cosmetics sector's share in the CBD oil market was over 40% in 2019."

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Statistic 19

"Over 40% of CBD consumers first heard about CBD from friends or family."

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Statistic 20

"The Asia-Pacific CBD market is projected to have a CAGR of 29% from 2021 to 2027."

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