Cannabis Extract Market Size is Forecasted to Hit US$ 42.89 Billion by 2030

Canada – The cannabis extract market was valued at 9.24 billion USD in 2021 and will grow with a CAGR of 18.6% from 2022 to 2030.

The cannabis extract market size is forecasted to reach around US$ 42.89 billion by 2030. The report contains 150+ pages with detailed analysis

Cannabis Extracts involve a wide group of products that comprises any excerpt of the cannabis plant, comprising extracts from hemp and marijuana. These excerpts contain high degree of cannabinoids like THC and CBD, much greater by weight when compared with dehydrated cannabis stems, leaves, or flowers. The near future holds immense possibilities for the cannabis extracts business due to the growing legalization of cannabis in several nations around the world. The requirement for cannabidiol (CBD) products is undergoing strong progress, which is expected to only quicken in the near future. Products ranging from balms and lotions in the topical group to beverages and edibles are aiming health and well-being, the increasing variety of CBD commodities are generating development prospects for the business.

The United Nations lately estimated that higher than 180 million individuals globally among the ages of 15 and 64 (greater than 4% of this age category) consume cannabis yearly. No less than 20 countries have executed medical cannabis legislations, including Canada, Australia, Germany, and Colombia.

Market Estimations Y-O-Y:

  • Market Size Was Valued In 2021: US$ 9.24 Billion
  • Market Size Is Projected to Grow By 2022: US$ 10.95 Billion
  • Market Size Is Projected to Grow By 2023: US$ 12.97 Billion
  • Market Size Is Projected to Grow By 2024: US$ 15.38 Billion
  • Market Size Is Projected to Grow By 2025: US$ 18.23 Billion
  • Market Size Is Projected to Grow By 2026: US$ 21.62 Billion
  • Market Size Is Projected to Grow By 2027: US$ 25.65 Billion
  • Market Size Is Projected to Grow By 2028: US$ 30.44 Billion
  • Market Size Is Projected to Grow By 2029: US$ 36.13 Billion
  • Market Size Is Projected to Grow By 2030: US$ 42.89 Billion
  • Compound Annual Growth Rate (CAGR) from 2022 to 2030: 18.6 percent

Growth Factors:

Factors such growing use of cannabis for medicinal purpose, implementation of unambiguous legal framework related to marijuana use in developed nations, increasing prevalence of cancer, increasing use of marijuana as antidepressants, and increasing focus of companies on development of sustainable extractions methods are driving the growth of cannabis extract market. Moreover, increasing prevalence of arthritis and other chronic disorders is further propelling the growth of cannabis extract market. Additional features that are expected to fuel this business are increasing awareness regarding benefits of cannabis in developing regions.

A tendency for the authorization of cannabis is being recognized across numerous countries throughout the world. Uruguay was the first nation in the world to completely legalize marijuana in the year 2013. Subsequently, multiple countries have legitimated the use of cannabis for therapeutical applications, which is anticipated to fuel the progress for the cannabis extract market through forecast time-duration.

It has been more than two years since Canada decided to legitimately regulate cannabis for recreational usage, becoming only the second nation after Uruguay, and the first chief G7 economy to do so. Although authorized access to cannabis was previously available for medical usage, this marked a pioneering policy change away from the illegalization of the preparation and the individuals who utilize it in a nation of around 40 million persons.

Report Scope of the Cannabis Extract Market

Report Highlights Details
Segments Covered Type, Extraction Method, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Base Year 2021
Historic Data 2017 to 2021
Forecast Period 2022 to 2030

COVID-19 Impact:

The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The cannabis extract report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.

Regional Analysis:

The report includes information for Asia Pacific, North America, Latin America, Europe, Middle East, and Africa. In 2020, North America dominated the worldwide market with a market share of higher than 71%. U.S. indicated the highest slice in North America principally due to increasing legalization of cannabis for medicinal usage. Moreover, high awareness regarding medicinal benefits of cannabis extract products such as CBD oil and tinctures also supported the high market portion of North America.

Europe was the subsequent significant market chiefly due to high consumption of cannabis oil in Italy. Anticipated approvals for cannabis use in the European region are also expected to lift the demand for cannabis extract in the anticipated time-span. Israel is also a key market due to high research activity. The Latin American region is projected to grow at a significant CAGR in the estimate period due to increasing investment by key companies on latest technologies. Asia Pacific, Middle East and African region will display noticeable growth.

Key Players:

The cannabis extract market is consolidated with a major number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report. Primary research represents a bulk of research efforts, supplemented by extensive secondary research.

Some of the prominent players in the cannabis extract market include:

  • Kynd Cannabis Company
  • Organa Brands
  • Colorado Cannabis Company
  • Peridot Labs
  • Canopy Growth Corporation
  • Aurora Cannabis
  • MARICANN INC.
  • Aphria Inc.

Market Segmentation

By Type

  • Conventional
  • Organic

By Extraction Method

  • Solvent-Less
  • Solvent

By Application

  • Textile
  • Cosmetic
  • Pharmaceutical
  • Paper
  • Others

Regional Segmentation

  • North America (U.S. and Canada)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. DataSources
2.3. Assumptions& Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Cannabis Extract Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope

Chapter 5. COVID 19 Impact on Cannabis Extract Market

5.1. Covid-19: Cannabis Extract Industry Impact
5.2. Cannabis Extract Business Impact Assessment: Covid-19
5.2.1. Services Challenges/Disruption
5.2.2. Market Trends and Cannabis Extract Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Cannabis Extract Market Players to deal with Covid-19 Pandemic Scenario

Chapter 6. Cannabis Extract Market Dynamics Analysis and Trends

6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Growing use of cannabis for medicinal purpose
6.1.1.2. Implementation of unambiguous legal framework
6.1.2. Market Restraints
6.1.2.1. Legalization hurdles in developing regions
6.1.3. Market Opportunities
6.1.3.1. Increasing prevalence of arthritis and other chronic disorders
6.1.3.2. Increasing awareness regarding benefits of cannabis in developing regions

Chapter 7. Global Cannabis Extract Market: Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Cannabis Extract Market Revenue by Market Players (2016 -2019)
7.1.1.2. Cannabis Extract Market Revenue Market Share by Market Players (2016 -2019)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Geographic Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Market Players Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of End-users

Chapter 8. Global Cannabis Extract Market, By Type

8.1. Cannabis Extract Market, by Type, 2017-2030
8.1.1. Conventional
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Organic
8.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Cannabis Extract Market, By Extraction Method

9.1. Cannabis Extract Market, by Application, 2017-2030
9.1.1. Solvent-Less
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Solvent
9.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Cannabis Extract Market, By Application

10.1. Cannabis Extract Market, by Application, 2017-2030
10.1.1. Textile
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Cosmetic
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Pharmaceutical
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Paper
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Others
10.1.5.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Cannabis Extract Market, Regional Estimates and Trend Forecast

11.1. North America
11.1.1. Market Revenue Forecast by Type(2017-2030)
11.1.2. Market Revenue Forecast by Extraction Method (2017-2030)
11.1.3. Market Revenue Forecast by Application (2017-2030)
11.1.4. U.S
11.1.4.1. Market Revenue Forecast (2017-2030)
11.1.5. Canada
11.1.5.1. Market Revenue Forecast (2017-2030)
11.2. Europe
11.2.1. Market Revenue Forecast by Type (2017-2030)
11.2.2. Market Revenue Forecast by Extraction Method (2017-2030)
11.2.3. Market Revenue Forecast by Application (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue Forecast (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue Forecast (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue Forecast (2017-2030)
11.2.7. Rest of EU
11.2.7.1. Market Revenue Forecast (2017-2030)
11.3. Asia Pacific (APAC)
11.3.1. Market Revenue Forecast by Type (2017-2030)
11.3.2. Market Revenue Forecast by Extraction Method (2017-2030)
11.3.3. Market Revenue Forecast by Application (2017-2030)
11.3.4. China
11.3.4.1. Market Revenue Forecast (2017-2030)
11.3.5. India
11.3.5.1. Market Revenue Forecast (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue Forecast (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue Forecast (2017-2030)
11.4. LATAM
11.4.1. Market Revenue Forecast by Type (2017-2030)
11.4.2. Market Revenue Forecast by Extraction Method (2017-2030)
11.4.3. Market Revenue Forecast by Application (2017-2030)
11.4.4. Brazil
11.4.4.1. Market Revenue Forecast (2017-2030)
11.4.5. Rest of LATAM
11.4.5.1. Market Revenue Forecast (2017-2030)
11.5. Middle East and Africa (MEA)
11.5.1. Market Revenue Forecast by Type (2017-2030)
11.5.2. Market Revenue Forecast by Extraction Method (2017-2030)
11.5.3. Market Revenue Forecast by Application (2017-2030)
11.5.4. GCC
11.5.4.1. Market Revenue Forecast (2017-2030)
11.5.5. North Africa
11.5.5.1. Market Revenue Forecast (2017-2030)
11.5.6. South Africa
11.5.6.1. Market Revenue Forecast (2017-2030)
11.5.7. Rest of MEA
11.5.7.1. Market Revenue Forecast (2017-2030)

Chapter 12. Company Profiles

12.1. Kynd Cannabis Company
12.1.1. Company Overview, Business Information, Regional Presence
12.1.2. Product Portfolio Analysis
12.1.2.1. Type Details, Specification, Application
12.1.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.1.4. Recent Developments and Strategies
12.2. Organa Brands
12.2.1. Company Overview, Business Information, Regional Presence
12.2.2. Product Portfolio Analysis
12.2.2.1. Type Details, Specification, Application
12.2.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.2.4. Recent Developments and Strategies
12.3. Colorado Cannabis Company
12.3.1. Company Overview, Business Information, Regional Presence
12.3.2. Product Portfolio Analysis
12.3.2.1. Type Details, Specification, Application
12.3.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.3.4. Recent Developments and Strategies
12.4. Peridot Labs
12.4.1. Company Overview, Business Information, Regional Presence
12.4.2. Product Portfolio Analysis
12.4.2.1. Type Details, Specification, Application
12.4.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.4.4. Recent Developments and Strategies
12.5. Canopy Growth Corporation
12.5.1. Company Overview, Business Information, Regional Presence
12.5.2. Product Portfolio Analysis
12.5.2.1. Type Details, Specification, Application
12.5.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.5.4. Recent Developments and Strategies
12.6. Aurora Cannabis
12.6.1. Company Overview, Business Information, Regional Presence
12.6.2. Product Portfolio Analysis
12.6.2.1. Type Details, Specification, Application
12.6.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.6.4. Recent Developments and Strategies
12.7. MARICANN INC.
12.7.1. Company Overview, Business Information, Regional Presence
12.7.2. Product Portfolio Analysis
12.7.2.1. Type Details, Specification, Application
12.7.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.7.4. Recent Developments and Strategies
12.8. Aphria Inc.
12.8.1. Company Overview, Business Information, Regional Presence
12.8.2. Product Portfolio Analysis
12.8.2.1. Type Details, Specification, Application
12.8.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.8.4. Recent Developments and Strategies
12.9. Company 9
12.9.1. Company Overview, Business Information, Regional Presence
12.9.2. Product Portfolio Analysis
12.9.2.1. Type Details, Specification, Application
12.9.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.9.4. Recent Developments and Strategies
12.10. Company 10
12.10.1. Company Overview, Business Information, Regional Presence
12.10.2. Product Portfolio Analysis
12.10.2.1. Type Details, Specification, Application
12.10.3. Revenue, Price, and Gross Margin (2016 – 2019)
12.10.4. Recent Developments and Strategies

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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