About Marijuana Oil
The global marijuana oil market is expected to grow at a moderate pace during the forecast period, according to the AMA study. Marijuana oil are extracted from cannabis plants. Unprocessed, they contain the same 100 or so active ingredients as the plants, but the balance of compounds depends on the specific plants the oil comes from. The two main active substances in cannabis plants are cannabidiol, or CBD, and delta-9 tetrahydrocannabinol, or THC. Oil extracted from hemp plants can contain a lot of CBD, while oil from skunk plants will contain far more THC. Growing demand from medicinal & recreational applications and legalization of cannabis products are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Analyst at AMA Research estimates that United States, Canada Players will contribute the maximum growth to Global Marijuana Oil market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Absolute Terps (United States), Aphria (Canada), Aurora Cannabis (Canada), Bluebird Botanicals (United States), Canopy Growth Corporation (Canada), American Shaman (United States), CV Sciences (United States), Elixinol LLC (United States), Emblem Corp. (Canada), Endoca (United States), Isodiol International (Canada), K.I.N.D. Concentrates (United States), Medical Marijuana (United States), Select Oil (United States) and The Whistler Group Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Marijuana Oil market by Type (Organic and Inorganic), Application (Vape Cartirdges, Subligual Drops& Sprays, Topical Creams & Salves, Gummies & Edibles, Softgel Capsules and Others) and Region.
On the basis of geography, the market of Marijuana Oil 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). If we see Market by End Use, the sub-segment i.e. Medicinal & Pharmaceuticals will boost the Marijuana Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Marijuana Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Adoption of Online Sales Channel
Market Growth Drivers:
Growing Demand from Medicinal & Recreational Applications and Legalization of Cannabis Products
Challenges:
Disrupted Supply Chain Across the World Due to the Pandemic
Restraints:
High Cost of the Product
Opportunities:
Opportunities in the North America Region Owing to Legalization of Cannabis in the Countries such as Canada
In MAY 2023, The new Stenocare medical cannabis oil product has received approval from the Federal Institute for Drugs and Medical Devices (BfArM) for prescription-based sales to German patients. With this, Stenocare is now entering Germany, the by far largest European market for medical cannabis.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Marijuana Oil
Analyst View
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the marijuana oil market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.