Global cannabis oil market expected to generate around USD 2,468 million by 2025, at a CAGR of around 49.5% between 2018 and 2025. The rising acceptance of cannabis is one of the chief factors contributing to the high growth of the cannabis oil market globally.

Cannabis is a budding plant; it has a fibrous stem used for clothing, paper, rope, and building materials. The flowers, leaves, and roots of the plant are used for medicinal purposes, whereas the seeds are used in fuel oil and food. Cannabis flowers and leaves are consumed in different forms, such as dried flower buds, different concentrations, or hard-pressed resin extracted from leaves or flowers through a variety of methods. Cannabis oil is a concentrated extract made from the cannabis plant. Cannabis oil is considered to be effective, safe, and inconspicuous means with powerful healing effects without exposure to potential hazards of cannabis smoking. This, in turn, will help the global cannabis oil market gain a grip in the years ahead. Moreover, the health benefits of cannabis oil are expected further to boost the growth of this market in the future.

The rising legalization of cannabis-based products is a key trend witnessed globally, which is prompting numerous nations to legalize cannabis and its use for medicinal and recreational purposes. This is likely to be the major growth driver of the global cannabis oil market over the estimated timeframe. Thus, the forecasts for the global cannabis oil market look positive as various countries worldwide have begun accepting cannabis products in several applications.

The global cannabis oil market is divided based on type and application. By type, the global cannabis oil market is segmented into non-organic cannabis oil and organic cannabis oil. On the basis of application, the global cannabis oil market is broadly categorized into recreational and medical.

By geography, North America held a major share of the global cannabis oil market in 2018 and is expected to dominate over the forecast time period as well. This can be attributed to the legalization of cannabis in Canada for recreational purposes in late 2018, which, in turn, is making the major companies operating in the cannabis oil market focus majorly on the Canadian market for investments. Europe anticipates holding the second position in the global cannabis oil market in 2018, due to the growing emphasis on medical programs featuring cannabis by the governments of Germany, Holland, and Italy.

Some key players of the global cannabis oil market are K.I.N.D. Concentrates, Select Oil, Absolute Terps, The Lab, Whistler, Canopy Growth Corporation, Emblem Cannabis Oils, and Aphria, among others.

More about this report >>