Globally, on the whole, CBD hasn’t been legal for long. In Canada, officials legalized CBD on October 17, 2018, to be precise, along with other cannabis products. Since then, the industry has gone from strength to strength. The long-awaited legalization of Cannabis created an unprecedented boom in the industry, as businesses popped up on every corner and consumers rushed to get their hands on the once forbidden fruit.
Just one statistic shows that in Canada in 2018, the year of legalization, the CBD gummies market was worth $443.4 million – according to Statista. By the end of 2025, the same CBD gummies market should be worth $3.05 billion, again, according to Statista.
That’s just one small portion of Canada’s CBD market, although CBD gummies are one of the most popular products alongside CBD oil. Worldwide, CBD oil is by far the most popular CBD product, so what has contributed to the rise of CBD oils in Canada? Read more below.
First, Why Is CBD Oil So Popular?
CBD oil can be purchased online, in most health and wellbeing stores, and dispensaries. According to the website 9leave, there is an increasing amount of evidence linked to the effectiveness of CBD oil for treating numerous health problems. Research has already proven CBD is effective at treating multiple ailments, and more are expected to come. Below are some proven benefits:
- Pain relief
- Reduces anxiety
- Reduces cancer-related symptoms
- Can treat acne
You can attribute the success of CBD oil to the natural healing powers it has. It’s an alternative to pharmaceutical products. Plus, it’s a great way of caring for the body as part of a holistic approach.
Factors Contributing To The Canadian CBD Oil Market Success
The main contributing factor to the rise of the Canadian CBD oil market was the legalization and instant marketing of products. Cannabis products were completely illegal and unregulated before 2018, so there was an instant demand as soon as it was legalized. Some companies, such as Invictus, capitalized on that.
Then came the needs of the public who want to take a new approach to their own health and wellbeing. A study that looked at pain in Canada found that 25% of people over the age of 15 are living with chronic pain – so it is no wonder people reached for CBD oil for relief. There is a huge demand from people who want to improve their quality of life naturally.
There’s also the scope of expansion possible. Many CBD oil brands sell more than just oil – making it a lucrative option because there’s plenty of products to sell. Stores are typically filled with gummies, edibles, tinctures, vapes, and of course, different strength oils. The most popular products are CBD oils and gummies, but other products do sell just as well. Don’t forget – there’s also the option for topicals and creams.
The Canadian CBD oil market will continue to rise because there’s such a high demand for it. Some experts are hailing CBD to be a natural miracle. When combined with a healthy lifestyle, there are some incredible physical and mental health effects – whether they’re placebo or not.
