What is Marijuana Oil Market?
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.
The market study is being classified by Type (Organic and Inorganic), by Application (Vape Cartirdges, Subligual Drops& Sprays, Topical Creams & Salves, Gummies & Edibles, Softgel Capsules and Others) and major geographies with country level break-up.
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 profiled in the study.
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. Research Analyst at AMA predicts that United States, Canada Players will contribute to the maximum growth of Global Marijuana Oil market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Marijuana Oil market by Type, Application 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand from Medicinal & Recreational Applications
- Legalization of Cannabis Products
- Rising Adoption of Online Sales Channel
- Opportunities in the North America Region Owing to Legalization of Cannabis in the Countries such as Canada
- Disrupted Supply Chain Across the World Due to the Pandemic
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 CommentSince 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.
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