Global CBD Oil Extract Market Overview:
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.
- Increasing Medicinal Application of Cannabis
- Growing Government Focus on Legalization of Cannabis
- Increasing Legalization of Cannabis-Based Products
- Technological Advancement in Cannabis Extraction Technologies
- Fluctuation in Price and Foreign Currency Exchange Rates
- Emphasizing On Product Development via New Product Delivery Solutions and R&D
- Increasing Demand for Medical Grade Cannabis
- Stringent Government Regulations for the Usage of Cannabis
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.
Some of the key players profiled in the report are 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). Additionally, following companies can also be profiled that are part of our coverage like HempLife Today (United Kingdom), CBD American Shaman (United States) and PharmaHemp (United States). Analyst at AMA Research see United States and Canada Players to retain maximum share of Global CBD Oil Extract market by 2025. Considering Market by Source, the sub-segment i.e. Hemp will boost the CBD Oil Extract market.
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.”
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global CBD Oil Extract market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in CBD Oil Extract market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes 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.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.