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There's No End in Sight (Yet) for the Cannabis Oil Boom

The cannabis oil well is far from running dry. Here's what you need to know before you start drilling.

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This story appears in the May 2019 issue of Green Entrepreneur. Subscribe » You're reading Entrepreneur Green Entrepreneur, an international franchise of Entrepreneur Media.

Cannabis oil is having a moment. Sales of THC-rich concentrates such as wax and shatter are projected to reach $8.5 billion by 2022. “The demand is very high,” says Corey Mangold, CEO of Orchid Essentials, a multistate cannabis brand. “Almost every extraction company I know of in the country is operating at full capacity. The oil market is still expanding.” In other words, there are plenty of opportunities for savvy entrepreneurs. 

OlegMalyshev | Getty Images

Before you rush into the oil business, three things to consider:

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