Butane hash oil is also known as cannabis oil, it is a powerful form of cannabis concentrate that occurs in different consistencies including budding, shattering, wax and more. The butane hash oil is a cannabis extract that serves as a natural pain reliever, has reduced seizures and anti-inflammatory properties.
The global demand for butane hash oil is driven primarily by growing research funding for cannabinoid studies, legalization of CBD in different regions such as North America, Australia and many others, and the increasing prevalence of chronic diseases and related complications.
The increasing legalizations of cannabis-based products is a crucial global phenomenon that is leading many nations to legalize cannabis and its use for culinary and medicinal purposes.This is expected to be the global butane hash oil market's main growth factor over the projected period.
The predictions for the global butane hash oil industry thus look promising as many countries around the world have started approving cannabis products in many applications.
The government and private organizations are offering financial aid to new entrants into the market for research and development. U.S. Department of Health and Human Services provides funding related opportunities for butane hash oil market. In 2019, the United States government announced to spend $ 3 million on CBD research. Private organizations, such as the Center for Medical Cannabis Research (CMCR) and Realm of Caring both based in the U.S. provide education and support for CBD.
U.S. government passed the farm bill in 2018. This bill has given legal status to the production of butane hash oil products and has created an opportunity for new entrants to offer butane hash oil products; therefore key players in the North-America, Viola Extracts, Dirty Arm Farm, Green Dot Labs, and many others.
In 2018, the World Anti-Drug Agency (WADA) removed CBD as a prohibited substance from the list. This removal will enable sportspersons to consume and try out the butane oil products for pain relief, anxiety, and Muscle-spasticity in multiple sclerosis among others. This has enabled manufacturers to enter into a new segment to offer products.
Increasing awareness among end-users about the health beneficial properties of butane hash oil driving the growth of the global market. Butane hash oil is more active than other types of marijuana, its effects also appear to be greater. This may result in greater pain relief for people who use marijuana to treat medical conditions, such as chronic pain or cancer.
Some of the key players operating in the global butane hash oil market driving the growth of the market includes,
Emerging regional players or new entrants are likely to have increased opportunities to enter the market, especially in developing countries. Increasing rising foreign investment and government initiatives in the developing agricultural sector, particularly in Australia are expected to boost the growth of butane hash oil market over the forecast period.
North America had a large share of the global demand for butane hash oil in 2019, and is also predicted to dominate over the projected period. This can be due to the legalization of cannabis in Canada at the end of 2019 for recreational purposes, which in turn makes the big companies operating on the butane hash oil market concentrate mainly on the Canadian investment sector.
The butane hash oil market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the butane hash oil market, including but not limited to: regional markets, type, source and application.
The butane hash oil market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the butane hash oil market report projects the attractiveness of each major segment over the forecast period.
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Butane Hash Oil Market
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