This report provides exclusive insights into the COVID-19 impact on the Cannabis Oil Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Cannabis Oil Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Cannabis Oil Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on the cannabis oil market provides an in-depth analysis of segments and sub-segments in the global as well as the regional cannabis oil market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cannabis oil market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global cannabis oil market. According to the report, the global cannabis oil market is projected to grow at a CAGR of 48.85% over the forecast period of 2019-2025.
Cannabis oil is extracted by the marijuana plant. Cannabis oil is extracted from the leaves of the cannabis plant. Cannabis oil generally used as a recreational drug and for medicinal purposes and it has high levels of THC. Cannabis oil becomes very popular when a Canadian man Rick Simpson distributed this concentrate, albeit illegally, as a medicine. Cannabis oil has many medicinal properties such as anti-tumor.
The global cannabis oil market is primarily driven by the increasing acceptance of cannabis as it has medicinal properties. Moreover, the rising acceptance of cannabis oil for medical purposes is also anticipated to propel market growth in the near future. However, the ban on cannabis production in various nations is expected to hinder the demand for the global cannabis oil market. Nonetheless, the acceptance rate of cannabis in developed countries is very high and the government also allowing it for use of medical purposes is expected to create a new opportunity for the global cannabis oil market.
On the basis of region, the global cannabis oil market is bifurcated into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America held the largest revenue share (around 50%) for the global cannabis oil market in 2018 owing the Canadian government allows using it for recreational purposes from 2018 and large scale spending on cannabis production. Europe held the second-largest revenue share for the cannabis oil market due to some European nations are prescribing this oil to relieve the Alzheimer's, symptoms of epilepsy, Parkinson’s disease, etc. The Asia Pacific is forecasted to be the fastest-growing region owing to the rising use of cannabis oil for curing life-threatening diseases in the region.
The report on the global cannabis oil market covers segments such as type, and application. On the basis of type, the sub-markets include non-organic cannabis oil, and organic cannabis oil. On the basis of application, the sub-markets include medical, and recreational.
The report provides profiles of the companies in the market such as K.I.N.D. Concentrates, Absolute Terps, Canopy Growth Corporation, The Lab, Select Oil, Whistler, Aphria, and Emblem Cannabis Oils.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the cannabis oil market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.