CBD Oil Extract Market Scope
Cannabidiol (CBD) is one of the hundreds of cannabinoids that are found in the cannabis plant. This is a naturally occurring substance, can be extracted & mixed with a carrier oil, often hemp seed or coconut, to create CBD oil. As the government is focusing on legalizing the medicinal and recreational use of cannabis number of players are focusing on taking advantage of the emerging market. In this growing industry, market players are using several established scientific cannabis extraction techniques to isolate the desired cannabis components. All extraction methodologies for cannabis extraction yield an oil once the solvent has been removed. Moreover, rising awareness about medicinal applications of cannabis expected to drive the market demand during the forecasted period.
The global CBD market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Research Analyst at AMA estimates that United States and Canada Players will contribute to the maximum growth of Global CBD Oil Extract market throughout the predicted period.
Canopy Growth Corporation (Canada), Aphria Inc (Canada), Aurora Cannabis (Canada), MARICANN INC (Canada), Tilray (Canada), GW Pharmaceuticals plc (United Kingdom), Tikun Olam (Israel), The Cronos Group (Canada), Kazmira (United States) and FOLIUM BIOSCIENCES (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are HempLife Today (United Kingdom), CBD American Shaman (United States) and PharmaHemp (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global CBD Oil Extract market , by Application (Medical, Personal Use, Pharmaceutical and Wellness) and Region with country level break-up.
On the basis of geography, the market of CBD Oil Extract has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In September 2019, Flower One a leading cannabis cultivator, innovator, and producer officially announced the launch of Nevada’s largest cannabis production and extraction facility. The new lab is designed for the production of full-spectrum oils, cannabis-derived terpenes, distillate, concentrates, and other cannabis products.
“14th June 2019, the Government of Canada announced amendments to the Cannabis Regulations setting out the rules governing the legal production and sale of edible cannabis, cannabis extracts, and cannabis topicals. In keeping with the federal government’s public health approach to the legalization and strict regulation of cannabis, the amended regulations seek to reduce the health risks of these cannabis products. At the same time, the amendments provide for a broad diversity of cannabis products, which will help displace the illegal market. The amended regulations will come into force on October 17, 2019.”
Market Trend
- Increasing Legalization of Cannabis-Based Products
- Technological Advancement in Cannabis Extraction Technologies
Market Drivers
- Increasing Medicinal Application of Cannabis
- Growing Government Focus on Legalization of Cannabis
Opportunities
- Emphasizing On Product Development via New Product Delivery Solutions and R&D
- Increasing Demand for Medical Grade Cannabis
Restraints
- Fluctuation in Price and Foreign Currency Exchange Rates
Challenges
- Stringent Government Regulations for the Usage of Cannabis
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, CBD Oil Extract Providers, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries