LOS ANGELES, Jan. 28, 2019 (GLOBE NEWSWIRE) -- Cannabis oil is the oil that is extracted from leaves of cannabis plant. Cannabis oil contains a high level of THC, and is used for the purposes of medicinal and recreational drug. According to the freshly published report by QY Research titled, “Global Cannabis Oil Industry Research Report, Growth Trends and Competitive Analysis 2018-2025”, for the predicted period for 7-years, i.e., 2018-2025. According to the report, the global cannabis oil market was valued at US$ 100 Mn in the year 2018 and is expected to reach around US$ 2160 Mn in 2025, with a colossal CAGR of 46.9% during the forecast period.
Global Cannabis Oil Market: Drivers and Restraints
Cannabis has its importance in both recreational use and medicated purpose. It has its significance in medical issues like cancer, mental disorders, and chronic pain etc. Thus the research on the affectivity of it is on the higher scale. The U.S. and Canada is showing a rapid growth due to the legalization of it, where there are some other countries that are also opening up with its medicated benefits.
The cannabis oil market has been enriched by the public and private investigation to use it in oils, tinctures, vaporizer and other ways of consumption. These researches ensures a positive growth in global cannabis oil industry.
Global Cannabis Oil Market: Regional Outlook
North America, Europe, Asia Pacific, Central and South America, Middle East and Africa are the most prominent region for Cannabis Oil Industry. North America and Europe are the most progressive regions when it comes to accepting the medical importance of cannabis oil. The U.S., Europe, and Canada are the major regions for the cannabis oil across the globe. Canada was the largest region which has produced 1071.6 kilo bottles in the year 2017. The US was the second largest region with the production of 778.9 kilo bottles in 2017. Canada, Germany, and Australia are those countries that have maximum amount of use of this oil. This regions are expected to come up as the leading markets in various aspects like that of sales and revenue. Whereas, the Middle East and Africa are also taking interest and focusing on the research and technological up gradation and are on the verge of knowledge transfer of this immensely helpful medication.
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Global market for Cannabis Oil: Segmental analysis
On the basis of application, the global cannabis oil is usually segmented into Medical and Recreational.
Based on the product type, the worldwide market for cannabis oil is segmented into Non-Organic Cannabis Oil and Organic Cannabis Oil.
Global Cannabis Oil Market: Competitive Landscape
Some of the top players functioning into the global cannabis oil market include Absolute Terps, Select Oil, the Lab, K.I.N.D. Concentrates, Whistler, Canopy Growth Corporation, Emblem Cannabis Oils, and Aphria
The report also examines the market share, drivers, sales channels, Porter’s Five Force Model, trends, opportunities, distributors, and market status of the global cannabis oil market.
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