Middle East & Africa is expected to witness a restricted growth due to stringent government policies, adverse effects associated with cannabis, and the illegal use of marijuana. On the basis of type, the global CBD oil market has been segmented into hemp-derived and marijuana-derived types. Hemp-derived CBD oil is the leading segment, which is growing at the highest CAGR to reach USD 2,092.97 Million by the end of 2024. The large market share of hemp-derived CBD oil is due to the varying concentration of tetrahydrocannabinol in hemp and marijuana. For this reason, hemp is used for industrial purposes, while marijuana is grown for recreational and medicinal purposes.
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