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 The top CBD companies are shifting as consumers solidify expectations for brands and products. Deciding which CBD manufacturers to partner with is one of the most significant decisions that business owners of CBD companies will ever make. From the top-down, each decision that CBD oil manufacturers and suppliers make will ultimately reflect on the business. After all, you’re selling these products to your custome
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 5 CBD Companies
The US CBD market has made significant progress since the Farm Bill passed in 2018 and 2020 has brought unique challenges. Despite the social and economic impact of a global pandemic, the industry continues to show signs of strength with healthy consolidation, consumer spending, and investment in strategic marketing. Because the market has seen both sizable expansion and consolidation in 2020, the top 20 brands have technically lost share but still maintain the majority piece of a now much larger pie. As of July 28, 2020 the top 20 CBD companies make up over 17% of the total US CBD market.
Types of Top CBD Companies
The industry is now being strongly influenced by the following primary groups of competitors:
- Powerful CBD-only companies, which have been able to further develop reputations and establish brand loyalty, refine and improve marketing strategies, and grow larger and more diverse customer bases despite barriers faced under past and current regulatory systems. Examples: Charlotte’s Web, CV Sciences.
- Cannabis companies, typically multi-state operators (MSOs), leveraging vast dispensary and retail distribution networks, supply chain infrastructure, brand recognition and capital to create or expand successful CBD lines. Examples: Curaleaf Hemp, Columbia Care.
Largest CBD Companies by Market Share
The top 5 CBD companies have continued to make names for themselves as the US CBD continues to grow. (Brand shares as of February 5, 2020):
Charlotte’s Web has effectively risen to the top of the ranks by leveraging robust marketing strategies deeply rooted in brand values their customers care about like trust and high-quality products. By understanding who they are as a brand, resonating with the right consumers, and investing in large marketing campaigns, they continue to lead the pack. Charlotte’s Web has also expanded its brand portfolio with CBDMedic, CBDClinic, and HarmonyHemp to reach a wider range of consumers.
Medterra is a completely CBD-focused, THC-free brand with broad mainstream consumer appeal. Their focus on ensuring quality and consistency from seed to sale has led to rapid consumer interest. Additionally, they have leaned further into the medical positioning of CBD with their Medterra Clinical brand aimed at capturing more consumers at independent pharmacies and medical practices.
CBD American Shaman
By leveraging a wide and growing distribution network through their franchise, wholesale and affiliate programs, they have been able to quickly climb the CBD company rankings. CBD American Shaman, a vertically-integrated operation, has a broad product line with over 70 SKUs from tinctures to edibles for both humans and pets. Specialty CBD Retailers have seen increased growth as more consumers enter the market and want high-quality product education during their in-store experience.
CBDistillery – Balanced Health Botanicals
CBDistillery has climbed the ranks with heavy investment in digital content such as its #CBDMOVEMENT Blog, the “CBDistillery’s Ultimate CBD User Guide!”, and The CBD Movement Podcast (launched in June 2020). Additionally, their inexpensive products and May 2020 rebrand align with a more mainstream, frequent user.
Green Roads has leveraged product diversity and quality to differentiate themselves in the market. By offering more unique, high-dose products, they can be seen as an innovator and those products better resonate with a variety of consumers. Similarly to Charlotte’s Web, they have leveraged value-based marketing to fuel robust social strategies targeting their core consumers.
See the CBD consumer + channel trends from 2020
Top Online CBD Companies
By building a trusted brand with a traditional, straightforward menu, Charlotte’s Web appeals to new and hesitant consumers. As consumers begin their CBD research process online, they are likely to come across Charlotte’s Web and their education on CBD products.
Balanced Health Botanicals (CBDistillery)
CBDistillery has created a robust online model with athletic sponsorships and influencer marketing, alongside accessible pricing. They have gained a s trong presence online and in independent pharmacies. They are particularly effective in addressing smaller, overlooked markets with tailored local advertising.
Their simple branding and heavy focus on search optimization has made Medterra a strong player in the online CBD space. They have been able to get in front of new entrants to the market, especially with low-price topicals.
As of February 2020, over 4,000 retail outlets carry cbdMD. Their mass adoption across various channels, along with strategic marketing and PR efforts, have no doubt helped in their online sales. cbdMD was the first CBD company allowed to advertise in Times Square in Dec 2018. The company is the official founder of National CBD Day (August 8) and National Hemp Day (February 4).
The company’s vertical integration, producing CBD from hemp grown on its farms in Oregon, allows the company to control and monitor their products, giving them an edge to sustain their high standards. It also allows the company to offer high quality products at a good value. The company has one of the most generous assistance programs, offering lifetime 60% discounts to veterans, individuals on long-term disability, and low-income households. As these segments continue to explore CBD, Lazarus Naturals is well-positioned to gain their attention.
CBD Manufacturers: 5 Reasons to Choose Joy
Deciding which CBD manufacturers to partner with is one of the most significant decisions that business owners of CBD companies will ever make. From the top-down, each decision that CBD oil manufacturers and suppliers make will ultimately reflect on the business. After all, you’re selling these products to your customers, and they’re trusting you with their health. You want to make sure that everything from the farm to the manufacturing facility remains current with licenses and certificates, and performs third-party lab testing. These are all steps we took when we started Joy Organics.
We were very meticulous about choosing our CBD oil suppliers. Our brand’s reputation depends on their compliance with federal law, use of organic practices, and transparency with seed-to-sale cycle tracking. We’ll discuss the characteristics of good CBD oil manufacturers, certificates of analysis (COAs) you should look for, and how Joy Organics can help your brand become one of the top CBD companies in the market!
CBD Bulk Pricing Benefits
Whether you want to sell Joy Organics products at your store or want to enter the Joy Organics White Label Program, you will need CBD oil to start your business. No matter which industry you’re in, everyone gets a discount when they order in bulk from manufacturers. It’s no different with CBD manufacturers.
CBD Manufacturer vs. CBD Company
There is a large difference between CBD manufacturers and CBD companies. If you’re looking to purchase CBD oil products wholesale or for white label CBD products, then you are a CBD company. You are looking for CBD oil suppliers who can help you realize your career goals.
CBD manufacturers are the ones who have the technology necessary to extract CBD oil from the plant. Depending on the manufacturing facility, they can run multiple operations. Understanding these differences is essential for running your business.
Differences in CBD Oil Manufacturers
Before you get too far into vetting potential CBD oil manufacturers, figure out what type of CBD oil products you want to sell. Then, determine if their manufacturing facility can accommodate your requests.
Understanding their technology and extraction methods is important for your bottom line, as these resources will impact the type of products you sell and how much the CBD oil will cost.
For instance, some companies specialize in full spectrum hemp extracts. That’s where all cannabinoids remain in the formula, including THC.
Other manufacturing facilities are capable of removing THC. 0.0% THC products, like Joy Organics’ line of products, are considered broad or full spectrum. Broad spectrum CBD oil requires cutting-edge technology that isolates phytocannabinoids.
Speaking of isolating, you might just need to browse CBD isolate manufacturers. These CBD oil suppliers provide pure CBD to integrate into your line of products.
CBD Companies vs. CBD Suppliers
If you are selling CBD, you are a CBD company. Therefore, some of the largest CBD manufacturers in the world are also the top CBD companies. However, some CBD manufacturers provide top CBD companies with the phytocannabinoids necessary to make their own unique line of products.
Being this type of CBD company is still a great experience. That’s why you might be better suited joining a Wholesale CBD or White Label CBD Products Program. Within this type of program, CBD suppliers give you everything you need to run your own CBD business.
You use their products and resources, but it’s your brand name on the bottle. Your CBD company is free to market what you receive from your CBD oil suppliers however you please!
How Joy Organics Chose CBD Manufacturers
Our mission when starting Joy Organics was to help people live healthier and happier lives. You can’t accomplish this goal with subpar CBD oil suppliers. So, we created a list of standards that potential CBD oil manufacturers had to meet. We are so grateful we found the right team to help bring our vision of premium broad and full spectrum hemp extract to life. Here’s what we looked for in CBD manufacturers.
Proof of an Actual Manufacturing Facility
To date, the CBD industry has been largely unregulated. This means that oil can be extracted pretty much anywhere, and no one would know the difference. When researching various CBD manufacturers, make sure that the product they’re offering is made in a legit manufacturing facility rather than in someone’s garage or shed.
Know CBD Manufacturer + Location of Farm
Once we had potential CBD oil suppliers in mind, we looked at where they sourced their hemp.
We asked the following questions:
- Is it grown sustainably, using organic practices?
- Are crops grown in accordance with the highest cultivation standard?
- Is this a U.S. farm or cultivated overseas?
- Do they breed high strains of CBD?
Knowing how the hemp is sourced didn’t just tell us about the plant. It told us about the ethics of the CBD oil suppliers. Even state-of-the-art equipment can’t make up for cutting corners with harvests made from inorganic farm practices.
Seed-to-Sale Cycle Tracking
Every minute of a hemp plant’s life cycle denotes critical moments in CBD production. Some people need specific phytocannabinoids that are present earlier in the plant’s life. Others need some of the terpenes that develop later in the cycle.
The more you know about the plants used to make your product, the more targeted approach you can make in creating products and marketing them. That’s why we only considered farms that had seed-to-sale cycle tracking.
Seed-to-sale cycle tracking follows the plant through these stages:
These tracking systems often contain a combination of written records and software in a single database that can be used by cultivators, processors, manufacturers, transporters, and others involved in the process that provides a thorough history of the product.
Appropriate Regulatory Licenses and Certificates
While CBD has been largely unregulated thus far, there are certain regulatory licenses and proper manufacturing certifications that the best CBD manufacturers will carry. Only the top CBD companies align with these types of manufacturing facilities. We’re no exception!
Now, be careful. Regulatory licenses and certificates will vary from state to state. Trusted CBD manufacturers should be clear about the regulatory licenses they carry.
A few regulatory licenses and certificates to keep an eye out for include:
- International Organization for Standardization (ISO)
- Good Manufacturing Process (GMP)
- Governance and Professional Practice (GPP)
These regulatory licenses and certificates mean that the equipment is in pristine condition. They passed a government inspection and the products they make meet the needs of customers and stakeholders while meeting statutory and regulatory requirements related to CBD.
Certificates of Analysis (COAs)
Each CBD oil batch should be consistent. COAs ensure this quality. These documents provide a thorough breakdown of what is in the hemp extract they’ll be supplying.
Common inclusions on COAs are:
- Phytocannabinoids (CBD, THC, CBDa, CBN, etc.)
- Heavy Metals
Not only do COAs create transparency, but they also ensure that the product contains exactly what it claims. A 2017 study found that almost 70% of CBD products sold online aren’t labeled correctly, having either considerably less or more CBD than advertised. CBD manufacturers should offer the most recent COAs of the products they provide.
5 Reasons to Choose Joy Organics As Your CBD Supplier
Choosing between CBD oil suppliers is a difficult decision. That’s why Joy Organics is making the decision easy. We have everything necessary to set you up for success.
Top CBD companies don’t get where they are without having high-quality products. Our CBD manufacturers implement cutting-edge technology that makes the smallest CBD particles on the market. This process gives our line of 0.0% THC broad and full spectrum products high bioavailability. Plus, our tinctures and jarred salves are now USDA certified organic.
2. Transparent and Consistent
Every batch of our premium-grade products is tested for purity throughout every step of the process. Our lab reports are easy to find on our product pages. We’re so sure that each batch will be the same high quality that every order is backed with a 100% money-back guarantee.
3. Unparalleled Customer Service
Your success is ours. That’s why we partner you with a specialist who will be your sole contact for orders. This practice helps build trust and communication between both partners. We also offer free shipping and dropshipping opportunities to meet your brand’s unique demands.
4. Educational Resources
We learned a lot about the CBD industry while vetting CBD oil manufacturers. That’s why we simplified the information into digestible videos you can use to expand your CBD business knowledge.
5. We Preserve Your Individuality
You and your brand are unique. They should be treated that way. That’s why we use all of our resources to ensure your brand’s voice is never lost. From fonts to verbiage to color combinations, your CBD company will stand out from the rest and capture your brand’s vibe.
CBD Manufacturing FAQs
What Is the Difference between CBD Oil Manufacturers vs. Suppliers vs. Companies?
A CBD oil manufacturer extracts the oil from hemp plants. They will provide a supplier (or distributor) with wholesale CBD oil. These distributors supply CBD companies with the oil needed to manufacture their line of products. Sometimes the CBD oil manufacturer, supplier and company are the same entity.
What to Look for in a CBD Oil Manufacturer?
First, make sure they have an actual manufacturing facility. Heavily vet the manufacturer and their hemp farmers to ensure they use organic ingredients and practices. Only work with companies that use seed-to-sale tracking. CBD oil manufacturers should also have the appropriate regulatory licenses and certificates of analyses to assure purity.
How Do You Get Bulk Pricing for CBD Oil?
Bulk pricing options for CBD oil are dependent on which company you choose as a partner. Common programs that offer bulk pricing discounts include wholesale CBD oil programs, dropshipping programs, or white label programs.
What Is a CBD White Label Program?
A white label program is a business opportunity where you partner with a CBD oil company to promote products under your brand name. As a business owner, you have the autonomy to choose hours, pricing, and marketing strategies.
Why Join a CBD White Label Program?
A CBD white label program is a unique opportunity to earn supplemental income or make a career change. Joining a CBD white label program allows you to profit from a billion-dollar industry with little investment upfront. You are partnering with an established brand that already has the resources you need to succeed.
How Do I Choose a CBD White Label Partner?
The quality of the product is what matters most when choosing a CBD white label partner. Not only will you be selling the supplier’s products, but you will be putting your label on them. Try the product before committing to a partnership. Also, only partner with brands that implement third-party lab testing for purity.
Why Choose Joy Organics as a CBD White Label Partner?
Joy Organics sells a variety of natural CBD oil products that are third-party lab tested for purity. We offer free shipping and low minimum orders on our vast catalog of broad spectrum and full spectrum hemp products. Every partner is assigned a personal account specialist who walks you through everything from choosing a logo to marketing your products. We build personal relationships to ensure your business goals are met!
Are You Ready to Partner with The Leading CBD Manufacturing Company, Joy Organics?
The beauty of partnering with Joy Organics is we did all the hard work for you. We can ensure that the seed-to-sale cycle is within its best-by date, that the CBD manufacturers have all their licenses and certificates, and that we have all of our COAs available for viewing. You can focus on the fun stuff like designing packaging, marketing initiatives, and choosing products.
With that peace of mind, you can also focus on your savings. We offer many unique opportunities for growth in our White Label Program, including savings by using blank bottles, low SKU orders, and minimum shipping requirements.
Call us today to chat about our White Label Program. With Joy Organics as your CBD supplier, you can become one of the top CBD companies. We are excited to help that vision happen!