The global CBD oil market will grow to almost $2.7 billion by 2022 with an estimated CAGR of more than 31 %, here are the top 10 CBD oil companies in the market This article ranks the top suppliers of CBD products in the United States and Canada by their annual revenue in order to better help you source a supplier. Also included are company summaries and headquarters locations.
Top 10 CBD Oil Companies in the World 2019
Cannabidiol (CBD) oil is all the rage these days with products offered by many leading CBD oil companies flooding the global market. Much touted as a panacea for multiple health problems from pain to anxiety and nausea, CBD oil is being added to a gamut of consumer items including vape oils, bath bombs, body lotions, and other beauty products. It is currently being sold online, in vape shops, by health food stores, and at some grocery stores. The global cannabis market is in the center of a much-needed transformation. Countries are reconsidering the legality of marijuana, there is an influx of research on the benefits of the plant, and various of new cannabidiol products are being launched by major CBD oil companies, and these factors have been giving the CBD oil market a boost in recent years.
Global CBD Oil Market Analysis
CBD 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, Technavio’s market analysts estimate 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.
For information about the global CBD oil market size, top CBD oil companies, and the latest market opportunities and market trends, please see Technavio’s Global CBD Oil Market Report 2020-2024, or download your FREE Global CBD Oil Market Report Sample now!
View the report featured in this article.
Global CBD Oil Market Analysis 2020 – 2024
Top 10 CBD Oil Companies in the World 2019
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. The company PlusCBD product line is well positioned for mainstream approval and expanded distribution as the health and wellness sector continues to embrace CBD standardization and commercialization. CV Sciences recently increased its retail store count to 1968 organic health food stores, making it one of the world’s largest CBD oil companies.
Endoca is among the leading CBD oil companies and one of the largest CBD oil manufacturers by volume. The company is based out of Europe with an office in the US. It claims to manufacturer products from certified organic and natural cannabis (hemp) plants, grown and cultivated without pesticides or herbicides. Endoca produces hemp products such as CBD oil and other cannabinoids, and it grows, harvests, and processes its plants itself, using its own equipment and machinery to deliver the finished products. The company also has its own shipping and warehouse facility. Endoca’s next big step is to use solar energy as a sustainable source of power.
Bluebird Botanicals, also known as Gaia Botanicals, is an award-winning CBD oil company and a leading manufacturer of hemp CBD consumer products. Although the majority of its sales occur online, its products are also sold at its physical retail stores and other third-party retailers. For years, the company has been producing private label CBD products for other companies across the globe and also selling its pure extracts to businesses. Bluebird Botanicals currently has distributors in Japan, South America, and Europe, and the company is working to enter other regions too. Its products include oil extracts, vape items, CBD capsules, and pet products.
Download related report sample for FREE: Global Legal Marijuana Market 2018-2022
Isodiol International has been developing pharmaceutical and health and wellness products for a long time, and today the company is supporting the pharmaceutical sector at large with its recently approved CBD products as an active pharmaceutical ingredient. The company is currently focused on the health benefits that hemp delivers and is actively marketing hemp-based consumer products and solutions. The company distributes its wide-ranging product portfolio through various channels domestically and internationally.
Medical Marijuana is an industrial hemp and cannabis-based products vendor. The company has become a market leader in CBD oil products manufactured specifically for nutraceutical, cosmeceutical, and pharmaceutical industries. Today, Medical Marijuana operates through various subsidiary companies, including HempMeds, Wellness Managed Services, Red Dice Holdings, CanChew Biotechnologies, Hempwire, Kannaway, HempVap, and HempMeds Brasil. In 2017, HempMeds Brasil, Medical Marijuana’s subsidiary, received authorization from the Brazilian government to sell its products in the country for the treatment of individuals with autism spectrum disorder (ASD), multiple sclerosis, and Alzheimer’s disease.
Aurora Cannabis (AC)
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.
Download related report sample for FREE: Global Medical Marijuana Market 2020-2024
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.
Canopy Growth Corporation
Canopy Growth Corporation is one of the leading medical marijuana companies that manufactures and sells CBD oil products through its well-known subsidiary Bedrocan. Bedrocan is touted as one of the world’s most experienced producers and exporters of legal medicinal cannabis with product lines containing five different cannabis strains. 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.
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 USA is the group’s largest business, producing and distributing CBD nutraceuticals to the US market and to other countries including Brazil, Japan, Puerto Rico, and the UK. 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.
IRIE CBD is one of the leading health and wellness products companies, focused on providing organic options for health and wellness and high-quality CBD hemp products at affordable prices. Its CBD products are sourced exclusively from non-GMO, organically grown, sustainable hemp to phytonutrient-rich hemp oils and terpenes. Last year, the company launched two new products, adding to its ever-expanding portfolio of CBD health and wellness products.
Future of the Top CBD Oil Companies: CBD Oil Market Trends 2020 to 2024
CBD derived from marijuana and hemp is touted as having many health-promoting benefits. Vendors in the market have been offering CBD oil as prescription drugs to licensed medical practitioners. CBD oil has anti-inflammatory properties, and is used to treat epilepsy. Moreover, CBD oil has gained significant use among smokers who want to quit and want to minimize withdrawal symptoms. These beneficial factors are expected to contribute to CBD oil market growth over the forecast period. Identifying future growth opportunities, vendors have started focusing on product innovation to increase their consumer bases.
The rise in the number of internet users over the last few years and the ready-to-buy attitude of customers are boosting the popularity of online retailing. Indeed, e-commerce is all the rage these days for both business-to-consumer (B2C) and business-to-business (B2B) operations. This trend is encouraging several CBD oil companies to focus on the internet-savvy customer segment and explore the new online retailing format based on websites and portals. This mode of business will definitely help vendors reduce operating costs and overheads, which are lower in the online retailing format compared with the physical store format. Consequently, the massive growth in the number of online shoppers globally is helping companies grow in terms of sales of CBD oil products as well as profits through this channel.
Frequently Asked Questions in the Global CBD Oil Market
- What is the current CBD oil market size?
- What are the major challenges in the CBD oil market?
- Who are the leading CBD oil companies in the cannabis market?
- What are the CBD oil market trends?
- What are the factors influencing the market shares of the Americas, APAC, EMEA?
All the detailed answers can be found in the following market report:
Top CBD Products Manufacturers and Suppliers in the USA and Canada
Cannabidiol, or CBD, is a compound hemp-derived compound. Compared with tetrahydrocannabinol (THC), CBD is non-impairing, meaning it doesn’t create a “high.” After the 2018 Farm Bill removed legal restrictions on CBD in the United States, it grew in popularity as a component of various consumer products, including but not limited to oils, tinctures, patches, supplements, and gummies. According to Grand View Research, the global CBD market size was valued at 2.8 billion US dollars in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028. The rising acceptance and use of products due to government approvals is a significant factor expected to boost the production of CBD-infused products. This article ranks the top suppliers of CBD products in North America by their annual revenues.
A note about these products: Since these products are still new to the market, their regulation is ongoing; even the FDA has only approved prescription CBD products so far. Because of this, it’s essential to find a reputable supplier. CBD buyers should look for:
- Proof of testing from a lab with ISO 17025 standards.
- A certificate of analysis (COA) showing the products have no pesticides, mold, or heavy metals and a THC level of .3% or less.
- A lack of an FDA warning letter or bad reviews for the supplier.
- Whether the supplier has made unrealistic or unsupported claims.
If you’d like to learn more about CBD and cannabis sourcing, regulations, and more, you can check out our guide on starting a cannabusiness.
Top CBD Products Suppliers
This table contains information on the largest CBD product suppliers in North America according to a 2020 study, ranked by annual estimated revenue. Additional details on each company’s headquarters location are also included, as well as summaries of company activities below.
Annual Est. Revenue
Colorado Springs, Colorado
Aurora Cannabis, Inc.
Brevard, North Carolina
Charlotte, North Carolina
San Diego, California
San Diego, California
Information from Thomasnet.com, dnb.com, and company websites.
Folium Biosciences manufactures hemp and CBD products that include face masks, hemp oils, softgels, and CBD supplements and tinctures. They serve the supplement, cosmetic, personal care, and animal health industries.
Aurora Cannabis, Inc. is a Canadian licensed cannabis and CBD product producer. It is the second-largest cannabis company in the world by market capitalization and was founded in 2006. It is a publically traded company and its products include CBD oils and capsules.
Charlotte’s Web is a CBD supplier with a unique formula to other CBD products, with a high amount of cannabidiol and low THC (some products are THC free). The company was originally founded in 2011. Their product line includes CBD oil, gummies, capsules, and CBD products for dogs. Their CBD oils are also available in different flavors, such as mint chocolate, lemon, and orange blossom.
Gaia Herbs sells natural remedies and supplements, including hemp extract oils, sold in different sizes. Founded in 1987, they are a Certified B company committed to their environmental and social responsibilities. Their products are chemical fertilizer and pesticide-free and do not use GMO seeds.
CBDmd, Inc. was founded in 2015, and offers CBD tinctures, gummies, topical solutions, bath bombs, oils, and pet products. All of their products are free of THC and are third-party lab tested.
Isodiol International, Inc. is a manufacturer of CBD products. Their selection includes tinctures, oils, supplements, edibles, skincare products, E liquid additives, and beverages. They also have contract manufacturing services available. They serve the pharmaceutical, nutraceutical, and cosmetic markets.
Medical Marijuana, Inc. is credited with being the first publicly-traded CBD company in the United States. Founded in 2009, they have eight brands of CBD products and four different subsidiary companies. Their products include CBD oils, as well as hemp foods, clothing, and body care products.
CV Sciences was founded in 2010 and focuses on two major markets: pharmaceuticals and consumers. CV Sciences sells various botanical-based CBD products for consumers and can be founded in health food stores. Their current pharmaceutical pursuits include the development of a cannabidiol-based medicine pending FDA approval. CV Sciences acquired CanX in 2015 and is developing nicotine and CBD gum to fight tobacco addiction.
CBDistillery was founded in 2016. Their line includes CBD tinctures, oils, capsules, isolate, and creams. Their CBD products are made from non-GMO industrial hemp with natural farming and contain no THC. Their products are also offered wholesale and are all tested by a third party.
Elixinol, LLC was founded in 2014. Their CBD products include tinctures, oils, gummies, topicals, and capsules. Their hemp is grown in the USA and their hemp products are manufactured in the USA.
Above, we ranked the top suppliers of CBD products in North America. We hope this information has been helpful to you in your supplier search. To learn more about these companies, or to make your own custom shortlist of suppliers, feel free to visit Thomasnet.com, which has information on other similar products.