The Global Marijuana Oil Market was valued at USD 5.2 billion in 2023 and is projected to reach USD 15.8 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 18.7% during the forecast period (2023-2030). This exponential growth is driven by increasing legalization of cannabis across medical and recreational markets, rising consumer awareness of cannabis-derived therapeutics, and expanding applications in pharmaceuticals, wellness, and personal care.

As the cannabis industry evolves with more sophisticated extraction technologies and product formulations, the market leaders are establishing vertically integrated operations from cultivation to distribution. In this analysis, we examine the Top 10 Companies in the Marijuana Oil Industry, showcasing the key players driving innovation in CBD and THC formulations, medical research, and sustainable production.

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🔟 1. Canopy Growth Corporation

Headquarters: Smiths Falls, Canada
Key Offering: Spectrum Cannabis oils, CBD drops, medical marijuana extracts

Canopy Growth is the world’s largest cannabis company by market capitalization, with operations across five continents. Their medical division produces pharmaceutical-grade cannabis oils with precise cannabinoid ratios for therapeutic applications.

Innovation Focus:

• FDA-approved Epidiolex alternative for epilepsy treatment

• Advanced CO2 and ethanol extraction technologies

• Medical cannabis research partnerships with major hospitals

Download FREE Sample Report: Marijuana Oil Market – View in Detailed Research Report

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9️⃣ 2. GW Pharmaceuticals (Aurora Cannabis)

Headquarters: Cambridge, UK
Key Offering: Epidiolex (CBD oral solution), Sativex (THC/CBD spray)

GW Pharmaceuticals, now part of Aurora Cannabis, pioneered FDA-approved cannabis-derived medications. Their research has set the standard for clinical cannabis applications in treating epilepsy, multiple sclerosis, and chronic pain.

Innovation Focus:

• World’s first pharmaceutical-grade cannabis oil approvals

• Proprietary strain development for optimized cannabinoid profiles

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8️⃣ 3. Tilray Brands

Headquarters: Nanaimo, Canada
Key Offering: Tilray Medical oils, CBD softgels, THC/CBD balanced formulations

Tilray operates one of the largest GMP-certified cannabis oil production facilities globally, supplying medical markets in over 20 countries. Their products feature precise dosing and pharmaceutical-grade quality controls.

Innovation Focus:

• Vertically integrated organic cultivation

• Medical cannabis oil exports to international markets

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7️⃣ 4. Aphria (now part of Tilray)

Headquarters: Leamington, Canada
Key Offering: RHO Phyto medical oils, CBD isolate products

Prior to merging with Tilray, Aphria established itself as a leader in high-THC medical cannabis oils featuring advanced nanoemulsion technology for improved bioavailability.

Innovation Focus:

• Proprietary microencapsulation technology

• High-potency THC formulations for pain management

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6️⃣ 5. Charlotte’s Web Holdings

Headquarters: Boulder, Colorado, USA
Key Offering: Full-spectrum CBD oils, hemp extracts

Charlotte’s Web is the market leader in hemp-derived CBD products in the United States, known for their commitment to organic farming practices and consistent product quality.

Innovation Focus:

• Seed-to-shelf traceability

• Custom cannabinoid formulations for specific wellness needs

Download FREE Sample Report: Marijuana Oil Market – View in Detailed Research Report

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5️⃣ 6. Cronos Group

Headquarters: Toronto, Canada
Key Offering: Peace+ CBD oils, Spinach cannabis extracts

Backed by Altria’s investment, Cronos has pioneered innovative cannabinoid delivery systems including water-soluble CBD powders and fast-acting formulations.

Innovation Focus:

• Biosynthetic cannabinoid production through fermentation

• Nanotechnology for improved cannabinoid absorption

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4️⃣ 7. Curaleaf Holdings

Headquarters: Wakefield, Massachusetts, USA
Key Offering: Select CBD oils, medical marijuana tinctures

As the largest U.S. cannabis operator, Curaleaf produces a wide range of cannabis oils available in medical and adult-use markets across 23 states.

Innovation Focus:

• Strain-specific extract formulations

• Integration with digital health platforms

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3️⃣ 8. Green Thumb Industries

Headquarters: Chicago, Illinois, USA
Key Offering: RISE CBD oils, medical cannabis drops

GTI operates highly regulated manufacturing facilities producing consistent, lab-tested cannabis oils for both medical patients and recreational consumers.

Innovation Focus:

• Precision-dosed cannabis oil products

• Clinician-developed medical formulations

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2️⃣ 9. Trulieve Cannabis

Headquarters: Quincy, Florida, USA
Key Offering: TruClear concentrates, Muse cannabis oils

Trulieve dominates Florida’s medical marijuana market with specialized oil formulations for various medical conditions including cancer, epilepsy, and chronic pain.

Innovation Focus:

• Patient-focused product development

• State-approved cannabis oil processing facilities

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1️⃣ 10. Cresco Labs

Headquarters: Chicago, Illinois, USA
Key Offering: Mindy’s CBD edibles, Remedi therapeutic oils

Cresco operates one of the largest wholesale cannabis distribution networks in the U.S., supplying premium cannabis oils to dispensaries nationwide.

Innovation Focus:

• Therapeutic ratio-based formulations

• Sustainable cultivation and extraction practices

Get Full Report Here: Marijuana Oil Market – View in Detailed Research Report

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🌿 Outlook: The Future of Marijuana Oil Is Precise and Personalized

The marijuana oil market is experiencing unprecedented transformation as legalization expands globally and clinical research validates therapeutic applications. Beyond traditional THC and CBD products, innovative formulations are emerging for specific medical conditions and wellness goals.

📈 Key Trends Shaping the Market:

• Increasing FDA approvals for cannabis-derived medications

• Development of minor cannabinoid isolates (CBG, CBN, etc.)

• Precision dosing through digital health integration

• Sustainability initiatives in cannabis cultivation and extraction

• International market expansion beyond North America

Get Full Report Here: Marijuana Oil Market – View in Detailed Research Report

The companies profiled above represent the vanguard of the cannabis revolution, combining agricultural expertise, pharmaceutical standards, and consumer insights to transform marijuana oil into mainstream wellness and medical solutions.