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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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