Global Cannabis Oil market will reach 2160 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/29

Cannabis oil is from the marijuana plant (cannabis indicas). The oil is extracted from the leaves of the cannabis plant. It contains high levels of THC. It is used for medicinal purposes and as a recreational drug.
Cannabis oil reached considerable popularity when a man in Canada named Rick Simpson began distributing this concentrate, albeit illegally, as a medicine. Rick's oil (commonly known as "Rick Simpson oil") brought the long studied knowledge about the anti-tumor and various medicinal properties of cannabis to the mainstream.

Global major cannabis oil production regions are USA, Canada and Europe. Canada is the largest production region, which produced 1071.6 kilo bottles in 2017, accounting for 52.66%. USA is the second largest production region, with production of 778.9 kilo bottles in 2017.

The global Cannabis Oil market is valued at 100 million US$ in 2018 is expected to reach 2160 million US$ by the end of 2025, growing at a CAGR of 46.9% during 2019-2025.

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