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Renesas Electronics Reports First Quarter 2019 Financial Results – GrassNews
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Renesas Electronics Reports First Quarter 2019 Financial Results



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Due to Weakening Market and Channel Inventory Adjustments, First
Quarter Revenue Decreased Year-on-Year

Second Quarter Revenue to See Significant Increase from IDT
Integration and Seasonality

Renesas to Pursue Continued Thorough Cost and Cash Management in
Preparation Against Continuing Weak End Demands

  • Q1 2019: Non-GAAP(1) revenue from semiconductors of 146.7
    billion yen, down 19.4% year-on-year. Non-GAAP gross margin of 39.3%,
    down 8.2 points year-on-year and Non-GAAP operating profits (margin)
    of 7.2 billion yen (4.8%), down 22.9 billion yen (11.4 points)
  • Outlook for Q2 2019: Non-GAAP revenue from semiconductors within the
    range of 181.5 billion and 189.5 billion yen with the IDT integration(2).
    Non-GAAP gross margin of 43.5%, based on the midpoint of forecasted

TOKYO–(BUSINESS WIRE)–lt;a href=”” target=”_blank”gt;#earningslt;/agt;–Renesas Electronics Corporation (TSE:6723, “Renesas”), a premier
supplier of advanced semiconductor solutions, today reported the
financial results for the first quarter ended March 31, 2019 (January 1,
2019 to March 31, 2019).

“In our first quarter, our non-GAAP revenue from semiconductors
decreased by 19.4% year-on-year, and the non-GAAP gross margin decreased
by 8.2 points on a year-on-year basis. Impacts from the weak market
conditions as well as our continued efforts to achieve optimal inventory
levels at our channels led to these decreases,” said Bunsei Kure,
Representative Director, President and CEO, Renesas Electronics
Corporation. “For the second quarter ending June 30, 2019, although
revenue from semiconductors is expected to increase significantly on a
sequential basis from to the IDT integration and seasonality, we expect
sales to decrease in light of the continued weak markets surrounding
industrial applications on a year-on-year basis. We also expect a
year-on-year decrease in our Non-GAAP gross margin. With uncertainties
for sales in the short term, we will thoroughly control cash and improve
operational efficiency and reduce costs through selective concentration
of R&D.”


Quarterly Financial Summary (Billion yen)

Non-GAAP Basis     Q1 FY2019

(Jan-Mar 2019)

    Q4 FY2018(3)

(Oct-Dec 2018)

    Q1 FY2018

(Jan-Mar 2018)

    QoQ     YoY
Revenue     150.3     187.7     185.6     -20.0%     -19.0%
Revenue from Semi.     146.7     183.7     182.0     -20.1%     -19.4%
Gross Margin     39.3%     40.5%     47.5%     -1.2pts     -8.2pts
Operating Income     7.2     19.4     30.1     -12.3     -22.9
Operating Margin     4.8%     10.4%     16.2%     -5.6pts     -11.4pts
EBITDA(3)     32.3     43.4     53.7     -11.0     -21.4
GAAP Basis


    Q1 FY2019

(Jan-Mar 2019)

    Q4 FY2018

(Oct-Dec 2018)

    Q1 FY2018

(Jan-Mar 2018)

    QoQ     YoY
Revenue     150.3     187.7     185.6     -20.0%     -19.0%
Revenue from Semi.     146.7     183.7     182.0     -20.1%     -19.4%
Gross Margin     38.1%     40.5%     46.7%     -2.4pts     -8.7pts
Operating Income     -1.3     -1.1     23.4     -0.2     -24.6
Operating Margin     -0.8%     -0.6%     12.6%     -0.3pt     -13.4pts
EBITDA(4)     28.0     27.1     51.5     +0.9     -23.5



Non-GAAP Basis: Non-GAAP figures are calculated by removing
or adjusting non-recurring items and other adjustments from GAAP
figures following a certain set of rules. The Group believes
non-GAAP measures provide useful information in understanding and
evaluating the Group’s constant business results, and therefore
results are provided in non-GAAP base. This adjustment and
exclusion include the amortization of intangible assets recognized
from acquisitions, other PPA (purchase price allocation)
adjustments and costs relating to acquisitions, stock-based
compensation, as well as other non-recurring expenses and income
the Group believes to be applicable. For a detailed reconciliation
of the GAAP / non-GAAP items, please see page 5.


IDT integration: The acquisition of Integrated Device
Technology, Inc. (IDT) was completed as of March 30, 2019 and IDT
became a wholly-owned subsidiary of Renesas.



As of the first quarter ended March 31, 2019, there has been
a changed to the Group’s auditor, and therefore quarterly figures
of the year ended December 31, 2018, provided under IFRS are not
reviewed by the previous auditor. However, for each of the
quarterly figures of the year ended December 31, 2018 provided
under the generally accepted accounting principal in Japan
(J-GAAP) have been reviewed by the Group’s previous auditor.


EBITDA: Sum of operating income, depreciation and amortization


Quarterly Revenue from Semiconductors by Application (Billion yen)

Following the completion of the Intersil acquisition in February 2017,
Renesas integrated Intersil into its operations and reformed its
business organization into three business units. To align with this
change, Renesas redefined its semiconductor sales breakdown to:
“Automotive,” “Industrial” and “Broad-based,” the three application
categories that constitute the main business of the Group, and “Other
semiconductors,” that constitute the businesses that do not belong to
the above three application categories.


Non-GAAP Basis
Revenue from

(Billion yen)

    Q1 FY2019

(Jan-Mar 2019)

    Q4 FY2018

(Oct-Dec 2018)

    Q1 FY2018

(Jan-Mar 2018)

    QoQ     YoY
Automotive (6)     83.4     104.5     92.4     -20.2%     -9.7%
Industrial (7)     31.8     43.1     50.9     -26.2%     -37.5%
Broad-Based (8)     30.1     35.1     38.1     -14.3%     -21.0%
Other Semiconductors     1.4     1.0     0.6     36.4%     121.3%
Total     146.7     183.7     182.0     -20.1%     -19.4%



Revenue from Semiconductors by application: From the fiscal
year ended December 31, 2018, the company partially changed the
sales categories, consisting of “Automotive”, “Industrial” and
“Broad-based” by transferring part of sales from “Industrial” to
“Broad-based” among other changes, to accurately represent the
business content. Accordingly, the figures of the fiscal year
ended December 31, 2017 have been retroactively amended to reflect
the new categories of the fiscal year ended December 31, 2018.



Automotive: Renesas mainly supplies microcontrollers (MCUs),
system-on-chip (SoCs), analog semiconductors and power
semiconductor devices for the “Automotive control” and “Automotive
information” categories.


Industrial: Renesas mainly supplies MCUs and SoCs for “Smart
factory,” “Smart home” and “Smart infrastructure” categories.


Broad-based: Renesas mainly supplies “General-purpose MCUs”
and “General-purpose analog semiconductor devices” to a wide
variety of end market solutions.


Summary of First Quarter 2019 Results (Non-GAAP

First quarter consolidated revenue was 150.3 billion yen, down 20.0%
quarter-on-quarter and down 19.0% year-on-year. First quarter revenue
from semiconductors was 146.7 billion yen, down 20.1% from the previous
quarter and down 19.4% from the previous year. Automotive revenue
decreased by 20.2% quarter-on-quarter and decreased by 9.7%
year-on-year, mainly due to a decrease in vehicle production mainly in
China and adjustments in channel inventory. Industrial revenue decreased
by 26.2% quarter-on-quarter and decreased by 37.5% year-on-year, mainly
owing to decreases in demand for both factory automation (FA) equipment
and air conditioners for China. Broad-based revenue decreased by 14.3%
quarter-on-quarter and by 21.0% year-on-year.

Non-GAAP gross margin in the first quarter was 39.3%, decreased by 1.2
points quarter-on-quarter and decreased by 8.2 points on a year-on-year

Non-GAAP R&D (9) expenses in the first quarter were 27.8
billion yen, compared to 30.5 billion yen and 32.4 billion yen in the
sequential and year-ago quarter. First quarter R&D ratio to revenue was

Non-GAAP SG&A (10) and Other expenses in the first
quarter were 24.1 billion yen, compared to 26.0 billion yen and 25.7
billion yen in the sequential and year-ago quarter. First quarter SG&A
and Other ratio to revenue was 16.0%.


While Renesas focuses its OPEX (operating expenses such as R&D and SG&A
costs) on R&D expenses for future growth, the Group is continuing its
control of disciplinary SG&A, and aims to sustain long-term financial
targets at around 30% which is the sum of the ratios of R&D- and

Non-GAAP operating income was 7.2 billion yen, equivalent to 4.8% of
operating margin in the first quarter, showing a decrease of 12.3
billion yen from the 19.4 billion yen on a sequential basis. Non-GAAP
operating margin decreased by 5.6 points from 10.4% in the previous
quarter. On a year-on-year basis, non-GAAP operating income decreased by
22.9 billion yen (11.4 points) from 30.1 billion yen (16.2%) due to a
decrease in sales revenue and production control leading to a decrease
in gross profit, despite of controlling SG&A.

Non-GAAP net income in the first quarter was 6.6 billion yen, and
Non-GAAP basic earnings per share was 4.0 yen.

Inventories at the end of the first quarter was 129.8 billion yen, a
14.4 billion yen increase from the 115.4 billion yen in the previous
quarter. However, following the acquisition of IDT as of March 30, 2019,
IDT’s inventory of 20.4 billion yen has been added. In addition, 13.0
billion yen out of 20.4 billion yen for IDT’s inventory is the amount
increased by the market valuation based on the PPA (Purchase Price
Allocation) effects following the acquisition. Excluding IDT inventory,
inventories at the end of the first quarter reduced by 6.0 billion yen

Net cash provided by operating activities in the first quarter was 20.0
billion yen and net cash used in investing activities was 702.1 billion
yen. These resulted in negative free cash flows of 682.1 billion yen.
Also, IDT acquisition related payments were 685.8 billion yen and the
free cash flows excluding the impact from the acquisition was a positive
of 3.8 billion yen.


Capital expenditures for property, plant, equipment (manufacturing
equipment) and intangible assets, were 1.9 billion yen in the first
quarter. These expenditures are based on the amount of investment
decisions made and does not refer to the cash outlays in the cash flow

Equity ratio was 34.3% as of March 31, 2019, against 56.7% as of
December 31, 2018. Debt/equity ratio (gross) was 1.53 as of March 31,



R&D: Research & Development



SG&A: Selling, General and Administrative expenses


Outlook for Second Quarter 2019

In the second quarter of 2019, Renesas expects revenue from
semiconductors within the range of 181.5 billion yen and 189.5 billion
yen (an increase of 23.7% to 29.1% sequentially, and a decrease of 4.8%
to 8.8% year-on-year). For the first half of 2019, revenue from
semiconductors is expected to be within the range of 328.2 billion yen
to 336.2 billion yen (a decrease of 11.8% to 13.9% year-on-year).

Based on the midpoint of the revenue outlook, Non-GAAP gross margin and
operating margin for the second quarter of 2019 is expected to be 43.5%
and 9.5%, respectively, and for the first half of 2019, 41.6% and 7.4%

The forecasts for the second quarter of the 2019 are calculated at the
rate of 110 yen per USD and 124 yen per Euro. The forecasts for the
first half of 2019 are calculated at the rate of 110 yen per US and 125
yen per Euro.


Capital expenditure for fixed assets (production facilities) and
intangible assets (investment decision basis within the period) for the
first half of 2019 is expected to be 7.0 billion yen.

Reference: IDT’s Financial Results for the Full
Year Ended March 31, 2019

IDT’s sales revenue for the full year ended March 31, 2019 (April 1,
2018 to March 31, 2019) was 948 million USD, an increase of 12.5% year
on year. Non-GAAP gross margin for the full year was 64.1%, an increase
of 2.0 points from the year on year. Non-GAAP operating income was 291
million USD (an increase of 58 million USD year on year), and Non-GAAP
operating margin was 30.7% (3.1 points increase year on year). Further,
IDT’s profit and loss will be consolidated into the financial statements
of the Renesas Group from the second quarter of 2019 (April 1, 2019 to
June 30, 2019).

Other References

Refer to Renesas Electronics’ earnings report “Renesas Electronics
Reports Financial Results for the Three Months Ended March 31, 2019”
the consolidated balance sheets, the consolidated statements of income
and the consolidated statements of cash flows.


Refer to the separate sheet for IFRS – non-GAAP reconciliation.

Forward-Looking Statements

The statements in this press release with respect to the plans,
strategies and financial outlook of Renesas Electronics and its
consolidated subsidiaries (collectively “we”) are forward-looking
statements involving risks and uncertainties. We caution you in advance
that actual results may differ materially from such forward-looking
statements due to several important factors including, but not limited
to, general economic conditions in our markets, which are primarily
Japan, North America, Asia, and Europe; demand for, and competitive
pricing pressure on, products and services in the marketplace; ability
to continue to win acceptance of products and services in these highly
competitive markets; and fluctuations in currency exchange rates,
particularly between the yen and the U.S. dollar. Among other factors,
downturn of the world economy; deteriorating financial conditions in
world markets, or deterioration in domestic and overseas stock markets,
may cause actual results to differ from the projected results forecast.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE:
) delivers trusted embedded design innovation with complete
semiconductor solutions that enable billions of connected, intelligent
devices to enhance the way people work and live. A global
leader in microcontrollers, analog, power, and SoC products, Renesas
provides comprehensive solutions for a broad range of automotive,
industrial, home electronics, office automation, and information
communication technology applications that help shape a limitless
future. Learn more at



Media Contacts
Kyoko Okamoto
Renesas Electronics
+81 3-6773-3001

Investor Contacts
Hirokazu Kato
Renesas Electronics
+81 3-6773-3002


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IM Cannabis Shares Commence Trading on 6:1 Consolidated Basis




TORONTO and GLIL YAM, Israel, July 12, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company” or “IM Cannabis“), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that, further to its press release dated July 5, 2024, effective today the Company’s common shares (“Common Shares“) are trading on the Canadian Securities Exchange (the “CSE“) and Nasdaq Stock Market LLC (“NASDAQ“) on a 6:1 post-consolidated basis (the “Consolidation“).

The Company’s trading symbol remains “IMCC” on both the CSE and NASDAQ. The Company’s new CUSIP and ISIN numbers are 44969Q406 and CA44969Q4060, respectively.

After giving effect to the Consolidation, the Common Shares were reduced from 13,394,136 to 2,232,357 Common Shares. No fractional Common Shares were issued in connection with the Consolidation. Instead, all fractional Common Shares equal to or greater than one-half resulting from the Consolidation were rounded to the next whole number, otherwise, the fractional Common Share were cancelled. The exercise price and/or conversion price and number of Common Shares issuable under any of the Company’s outstanding convertible securities were proportionately adjusted in connection with the Consolidation.

Computershare Investor Services Inc., the Company’s registrar and transfer agent for the Common Shares, has mailed letters of transmittal to registered shareholders of record as of July 12, 2024 providing instructions for the exchange of their Common Shares as soon as practicable following the effective date. Registered shareholders may also obtain a copy of the letter of transmittal by accessing the Company’s SEDAR+ profile at Until surrendered, each Common Share certificate or direct registration system statement representing pre-consolidated Common Shares will represent the number of whole post-consolidated Common Shares to which the holder is entitled as a result of the Consolidation. No action is required by beneficial holders to receive post-consolidation Common Shares in connection with the Consolidation. Beneficial holders who hold their Common Shares through intermediaries (e.g., a broker, bank, trust company investment dealer or other financial institution) and who have questions regarding how the Consolidation will be processed should contact their intermediaries with respect to the Consolidation.

About IM Cannabis Corp. 


IM Cannabis (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has focused its resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.

The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IM Cannabis’ products throughout the entire value chain. In Germany, the IM Cannabis ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.

Disclaimer for Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to the Company amplifying its commercial and brand power to become a global high-quality cannabis player.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to maintain the listing requirements of the CSE and NASDAQ; the Company’s ability to focus on Israel, Germany and Europe; the Company’s ability to realize upon the stated benefits of the partial legalization of cannabis in Germany; and the Company amplifying its commercial and brand power to become a global high-quality cannabis player. The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the CSE and NASDAQ; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus Medical Herbs Ltd. (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt and war, conflict and civil unrest in Eastern Europe and the Middle East; the risk of the Company’s inability to capitalize upon the partial legalization of cannabis in Germany; and risks the Company will be unable to amplify its commercial and brand power and/or be unable to become a global high-quality cannabis player.


Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at and EDGAR at Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations, and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Company Contact:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338

Oren Shuster, Chief Executive Officer
IM Cannabis Corp.

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Legal Cannabis Market Share Value Projected to Reach USD 194.5 Billion, at 16.9% CAGR by 2034: Prophecy Market Insights



Covina, July 11, 2024 (GLOBE NEWSWIRE) — The study concludes that the global legal cannabis market size and share is expected to grow at a CAGR of 16.9% between 2024 and 2034. The market revenue of USD 47 Billion in 2024 is expected to grow up to USD 194.5 Billion by 2034.

Cannabis was an illicit drug before, but its legalization process is on fast track today in many nations around the globe, opening a multibillion-dollar market with huge growth potential. The said market is bifurcated into two categories: medical cannabis, used for the treatment of various diseases, and recreational cannabis, for fun and other purposes. Most marijuana consumers are young, especially millennials. Males use it more than females, while the level of consumption is also predicated by class and thereby affects the rate of consumption. Psychographics show that marijuana consumers are social, open to experiences, and concerned about health; the last two probably represent a broader moving trend to natural products and alternate medicine.

The legal cannabis market offers a huge amount of variety, starting from flowers to extracts and consumables like cookies and chocolate that can be applied topically on the skin. Concentrations are gaining their following and popularity because of their potency. Also very popular are the edibles—baked goods, particularly cookies, and sweets—that appeal to those who crave discreetness and effectiveness all at once in consumption.

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Some of the Key Market Players:

  • Aurora Cannabis
  • Cresco Labs
  • Jazz Pharmaceuticals
  • Verano Holdings
  • Canopy Growth Corporation
  • Green Thumb Industries
  • Trulieve Cannabis
  • MedMen
  • Aphria
  • Cronos Group
  • Curaleaf
  • GW Pharmaceuticals, plc.
  • The Green Organic Dutchman

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Analyst View:

Global cannabis regulations differ, but most countries are legalizing it fast, thereby creating a multibillion-dollar market with huge growth potential. The market segments include cannabis for recreation and cannabis for medical use. Young people form a huge part of the cannabis users, particularly the millennial group who exhibit a social class influence. Due to early legalization and permissive rules, North America is the leader of the legal cannabis business concerning product variety. The constantly changing process of the market keeps including new and different consumers and substances like CBD or substances for euphoric-balming effects.

Legal Cannabis Market: Report Scope
Report Attributes Details
Market value in 2024 USD 47 Billion 
Market value in 2034 USD 194.5 Billion
CAGR 16.9% from 2024 – 2034
Base year 2023
Historical data 2019-2022
Forecast period 2024-2034

Market Dynamics:



Growing Recognition and Legalization

  • Together, the increasing number of countries legalizing cannabis and the health benefits derived from medical marijuana easily make the global legal cannabis market ripe for significant growth. North America dominates the market due to major contributors such as the US, Canada, the UK, Germany, and Australia. The medicinal properties of cannabis will most probably drive massive growth in the medical cannabis market. Recreational use of marijuana is projected to have the fastest growth rate, and, as such, create jobs and boost the economy. The growth of the market results from geographical expansion, regulatory frameworks, and technological enhancements.

Increasing Customer Requirements

  • It’s the change in consumer expectations that’s driving big shifts in the legal cannabis sector. Companies are rolling out new product lines to cater to health-conscious consumers who demand a wider variety of cannabis-infused products. Where consumers want organically grown and pesticide-free cannabis, quality, and safety also rank very high. Consumers demand personalized experiences, where buyers and dispensaries are very important in guiding clientele to the right products. Moreover, there is an increase in sustainability and social responsibility due to customers valuing companies advocating for them. Technological integration is also being utilized to enhance convenience and engagement measures.

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Market Trends:

Benefits of Medicine and Research

  • Growth opportunities in legal cannabis mainly come from the legalization of their consumption, primarily for medical use. There are several medical diseases where the benefits of the use of cannabis have been proved, and the FDA has approved quite a few drugs derived from this plant. Improved cultivation, extraction, and testing technologies are also able to raise the quality and safety of products. The medicinal properties of cannabis are also opening up new options in treatment today, especially with those disorders resistant to traditional medications. Growing awareness of the potential economic opportunities that cannabis avails itself to could further drive the development of new innovative products and treatments, thereby accelerating market growth.


Legal Cannabis Market is segmented based on Source, Compound, Products, and Region.

Source Insights

  • From the flowers, which have classically been the traditional form of cannabis for as long as anyone can remember, to a large collection of strains with different cannabinoid levels, the flower truly captures the capabilities of the plant. Seed oil is another source that is not psychoactive in nature but is popular mainly due to its abundance of vital fatty acids and possible health benefits. Other sources are concentrated and super-potent cannabis products like trichomes, kief, and live resin. The infused product market is bound to grow with rising demand for seed oil. All in all, cannabis continues changing to best accommodate these different types of customers.

Compound Insights

  • Tetrahydrocannabinol is the widest cannabinoid used and has euphoric-balming effects. With increasing education among consumers, it can maintain its market share. One of the non-psychotic components is CBD, which helps in pain management and sleep quality, amongst others. Balanced THC & CBD: This segment caters to customers looking for a balanced experience by balancing the analgesic, relaxing properties of THC with the anxiety-reducing, focused properties of CBD.

Product Insights

  • Cannabis oil is quite often a concentrate, one can administer it topically for pain, consume it right out of the container, or use it in edibles. Cannabis drinks, like coffee, bubbling water, and spiked drinks, offer a more discreet and convenient way of consumption. Cannabis candies and chocolates are also other discreet and controlled ways. The legal cannabis sector is always experimenting with new products, vaporizers, topicals, edibles, baked foods, and sprays. Cannabis is also used for pet treats quite frequently. It is believed to expand the market for edibles as much as consumer acceptability and legalization expand.

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Recent Development:

  • In July 2024, Hundreds of pro-cannabis advocates took to Bangkok’s streets to protest a possible ban on general use. The Thai government floated plans to relist the plant as a narcotic, two years after it was decriminalized, earlier this year. A health ministry drug control committee approved the proposal, which would see cannabis only allowed for medical and research purposes.
  • In July 2024, NIST’s New Hemp Reference Material Will Help Ensure Accurate Cannabis Measurements. NIST’s Hemp Plant Reference Material will aid labs in accurately measuring THC, CBD, and other compounds in cannabis products, aiding forensic labs in distinguishing between legal hemp and federally controlled marijuana. It will also assist producers and state regulators in ensuring the safe use and accurate labeling of cannabis products.

Regional Insights

  • North America: The charge is currently being led from North America, due to early legalization and relatively permissive laws in countries like Canada and a number of US states. With so many goods on offer against the backdrop of a clientele base very loyal to their products, almost everything is put in place to create an almost perfect environment. The growth of the North American legal cannabis business is aided by many things, especially the medicinal and recreational markets, consumer demand, and lastly, medicinal research. The largest players are represented by Canopy Growth and Aurora Cannabis. The country with the most rapid growth relocated to Canada.
  • Asia Pacific: Asia is increasingly tolerating the use of medical marijuana, mainly in South Korea and Thailand, the growing disposable money of relatively less developed countries at large will set the stage for marijuana legalization for recreational use when regulations change.

Browse Detail Report on “Legal Cannabis Market Size, Share, By Source (Flowers, Seed oil, others), By Compound (Tetrahydrocannabinol, Cannabidiol, Balanced THC & CBD), By Product (Cannabis Oil, Cannabis Beverages, Cannabis Chocolates & Gummies, Others) By Application (Medical, Scientific, Industrial, and Horticultural purposes) and Region – Trends, Analysis and Forecast till 2034” with complete TOC @

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Prophecy’s expertise area covers products, services, latest trends, developments, market growth factors, and challenges along with market forecasts in various business areas such as Healthcare, Pharmaceutical, Biotechnology, Information Technology (IT), Automotive, Industrial, Chemical, Agriculture, Food and Beverage, Energy, and Oil and Gas. We also offer various other services such as data mining, information management, and revenue enhancement suggestions.


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Global CBD Oil Market Size To Exceed USD 26.72 Billion By 2033 | CAGR of 18.36%



New York, United States , July 09, 2024 (GLOBE NEWSWIRE) — The Global CBD Oil   Market Size Expected to Grow from USD 4.95 Billion in 2023 to USD 26.72 Billion by 2033, at a CAGR of 18.36% during the forecast period 2023-2033.

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Cannabidiol oil is another name for CBD oil. (CBD), which originates from cannabis plants, such as hemp and marijuana, can possess anxiolytic, anti-inflammatory, and analgesic properties. These characteristics have led to research on CBD oil as a possible treatment for a number of diseases, including anxiety disorders, chronic pain, and epilepsy. The demand for CBD-infused beauty and skincare products has surged, indicating consumers’ growing inclination towards natural and comprehensive skincare treatments. Growing amounts of CBD, which is well-known for its potential anti-inflammatory and antioxidant properties, are being added to skincare formulae to address issues including acne, inflammation, and aging. Governments from a number of states and countries are supporting its use in drugs and other medical treatments, which is expected to expand and increase these products’ sales and distribution throughout the course of the projected period. However, manufacturers continue to work to increase awareness among customers and provide informative packaging to make it clear what the consumer wants to get out of the items. Consequently, the attempts to support the marketing operations may present opportunities for the global cannabidiol oil market.  

Browse key industry insights spread across 232 pages with 110 Market data tables and figures & charts from the report on the “Global CBD Oil Market Size, Share, and COVID-19 Impact Analysis, By Source (Marijuana, Hemp), By Product (Full-Spectrum CBD Oil, Broad-Spectrum CBD Oil, CBD Isolate), By Application (Food & Beverages, Pharmaceuticals, Pet Care, Cosmetics, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033″

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The hemp segment is expected to hold the largest share of the CBD oil market during the anticipation timeframe.   

Based on the source, the CBD oil market is categorized into marijuana, and hemp. Among these, the hemp segment is expected to hold the largest share of the CBD oil market during the anticipation timeframe. Increased demand for pharmaceuticals and increased public awareness of health issues are likely to drive significant growth in the market for hemp-derived cannabidiol. The pharmaceutical industry predicts that when consumer disposable income increases and cannabis becomes legal, demand for the substance will rise.

The full-spectrum CBD oil segment is expected to grow at the fastest CAGR during the anticipation timeframe.    

Based on the product, the CBD oil market is categorized into full-spectrum CBD oil, broad-spectrum CBD oil, and CBD isolate. Among these, the full-spectrum CBD oil segment is expected to grow at the fastest CAGR during the anticipation timeframe. It indicates the combined benefits of many drugs may be more beneficial than CBD individually. With regard to the entourage effect, full-spectrum CBD oil is expected to have more medicinal benefits than CBD isolation. People may get improved relief from symptoms like pain, inflammation, anxiety, and more.

The pharmaceuticals segment is expected to hold a significant share of the CBD oil market   during the anticipation timeframe.


Based on the application, the CBD oil market is categorized into food & beverages, pharmaceuticals, pet care, cosmetics, and others. Among these, the pharmaceuticals segment is expected to hold a significant share of the CBD oil market during the anticipation timeframe. the growing number of research investigations evaluating CBD’s physical effects on particular medical conditions. These products are used as an alternative by a substantial, knowledgeable, and conscientious consumer base to lessen mental stress and nervousness.

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North America is projected to hold the largest share of the CBD oil market over the anticipation timeframe.

North America is projected to hold the largest share of the CBD oil market over the anticipation timeframe. Interest from consumers in and tolerance to CBD have significantly increased in the US, which has significantly affected the market share and position of the area. North America is currently the largest market region because to ongoing development, pre-existing infrastructure, and growing public awareness of the potential benefits of CBD.

Europe is expected to grow at the fastest CAGR growth of the CBD oil market during the anticipation timeframe. The legalization of cannabis in a number of European countries has created new markets for CBD products, which will attract investment and encourage the creation of new goods. Moreover, the rise of CBD-infused goods in industries like wellness, food and drink, healthcare, and cosmetics encourages market progress in Europe and positions the region as a significant CBD oil market over the projection period.


Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the CBD oil market are Aurora Cannabis Inc., BIOTA Biosciences LLC, CannazALL, Cannoid LLC, Canopy Growth Corp., CBD American Shaman LLC, CV Sciences Inc., Elixinol, Avicanna, Endoca BV, Folium Biosciences, Gaia Botanics, Green Roads Inc., Happie Hemp Pvt. Ltd., Kazmira LLC, Medical Marijuana Inc., and others.

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Recent Developments

  • On January 2023, the acquisition of Goodbody Botanicals Ltd. by British Cannabis, a pioneer in the CBD market, represents a major advancement in our leadership in the wellness industry. This acquisition represents a significant expansion of our manufacturing capacity and an improvement in our ranking on the UK Food Standards Agency’s (FSA) list of authorized products, signifying more than just the joining of two firms.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the CBD oil market based on the below-mentioned segments: 


Global CBD Oil Market, By Source

  • Marijuana
  • Hemp

Global CBD Oil Market, By Product

  • Full-Spectrum CBD Oil
  • Broad-Spectrum CBD Oil
  • CBD Isolate

Global CBD Oil Market, By Application

  • Food & Beverages
  • Pharmaceuticals
  • Pet Care
  • Cosmetics
  • Others

Global CBD Oil Market, By Regional

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

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