Cannabis Indica Oil Market: Leading Segments and their Growth Drivers
The report covers forecast and analysis for the Global Cannabis Indicas Oil Market on a global and regional level. The research report presents a comprehensive valuation of the market, competition, opportunities, emerging trends and industry-validated market figures. The study provides historic data of 2016 to 2018 along with a forecast from 2019 to 2026 based on volume (Million tons) and revenue (USD Million).
The global cannabis indicas oil market is expected to have substantial scope in the coming future owning to various factors that are driving the market growth in the forecast period. The global cannabis indicas oil market is likely to grow at a double digit CAGR within the forecast period. The Cannabis indicas oil is extracted from the leaves of cannabis indicas plant which has maximum concentration of THC (Tetrahydrocannabinol).This oil has multiple usages in the field of medical and recreational. One of the major factors that drive the growth of the market is the government intervention which is making cannabis indica oil legalized in various places across globe. Cannabis indicas oil potential health and medicinal advantages such as pain relief.
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The cannabis indica oil market has been segmented on the basis of type and application. Based on type, the cannabis indica oil market is categorized in two types named as organic cannabis oil and non-organic cannabis oil. The usages or applications of cannabis indica oil are medical purposes and recreational drugs. USA, Europe and Canada are the major countries that have maximum production of cannabis oil. Out of this Canada is the largest producer of cannabis oil as per the industry sources.
The key drivers and opportunities boosting cannabis indica oil market are the government regulation and policies for legalizing the cannabis, lesser side effect and companies which are investing on R&D for cannabis production. Cannabis indica oil has long lasting effect which can give us beneficial property named as pain relief. The technological advancement, rise in demand and awareness about the benefits of cannabis are driving the cannabis indica oil market. One of the major applications is of cannabis oil is during the treatment of the cancer as the oil may kill cancer cell and dis continue the tumour. Moreover, owing to advancement in technology, the cannabis indica oil has moisturizing and anti-inflammatory properties which is more applicable in the cosmetic industry and hence it is widely used in the skin care products. Various changes such as technological developments, competitive development like new product development, expansions and acquisitions are further propelling the market growth.
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Some of the major manufacturers of the cannabis indica oil are:
- Select Oil
- I.N.D. Concentrates
- Canopy Growth Corporation
- Emblem Cannabis Oils
- The Lab
- Absolute Terps
Cannabis Indica Oil Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa