“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.”
The article cited AMA's "Global CBD Oil Extract Market Study" explored CAGR of %. According to the report, Increasing Legalization of Cannabis-Based Products
is one of the primary growth factors for the market. Increasing Medicinal Application of Cannabis
is also expected to contribute significantly to the CBD Oil Extract market. Overall, Medical
applications of CBD Oil Extract, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Source, such as Hemp, is boosting the CBD Oil Extract market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global CBD Oil Extract market identified that the demand is rising in many different parts of the world as "Emphasizing On Product Development via New Product Delivery Solutions and R&D
". Furthermore, some recent industry insights like "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." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global CBD Oil Extract market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the CBD Oil Extract market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall CBD Oil Extract market size is calculated using market estimation process, the CBD Oil Extract market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global CBD Oil Extract market size has been validated using both top-down and bottom-up approaches.