Cannabis Extract Market is estimated to be US$ 23.64 Billion by 2026 with a CAGR of 21.22 % during the forecasted period.

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Published Date: February 2024

The cannabis extract market accounted for US$ 5.1 Billion in 2024 and is estimated to be US$ 38.3 Billion by 2034 and is anticipated to register a CAGR of 3.10%.

The report. "Cannabis Extract Market, By Type (Alcoholic (Cannabis-Infused Beers, Cannabis-Infused Wines, Cannabis-Infused Spirits, and Others) and Non-Alcoholic (Cannabis Soda, Marijuana Tea, Marijuana Elixirs, and Cannabis Coffee and Cold Brew)), By End-user (Mass Merchandisers, Specialty Store, Online Stores, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”.

Key Highlights:

In May 2019, Caliva acquired Zola, the manufacturer of plant-powdered beverages, to expand into the cannabis and hemp-based CBD (HCBD) beverage space. Caliva is one of the biggest vertically integrated cannabis companies in California
In March 2019, The Tinley Beverage Company Inc. completed its planned expansion of the bottling facility in the Coachella Valley, California to harvest cannabis-infused beverages

Analyst View:

Growing preference towards cannabis extracts such as oils and tinctures

Cannabis oil and tinctures are mainly used for treatment of various conditions like cancer, psychological disorders, and nausea. In terms of legality, laws relating to extracts are quite tolerant due to non-psychoactive properties of Cannabidiol (CBD) oils similar to other products such as resins and buds. Due slowly lessening social stigma of smoking cannabis buds and their easy consumption in vapor or in the form of gummies are expected to gain momentum and the increase in demand over the forecast period.

Growing adoption of medical cannabis for treatment of chronic diseases

Growing prevalence of cancer is major factor boosting the market for cannabis extract over the forecast period. As per World Health Organization (WHO), in 2015, cancer was the second leading cause of deaths worldwide with appropriately 8.8 Million deaths worldwide. Growing disease burden of chronic pain results in increased requirement of therapies which in turn is anticipated to drive the cannabis extract market over the forecast period. Further, due to age limitations and the exact calculation of dose, kids are given cannabis oils instead of buds.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Cannabis Extract Market”, By Type (Alcoholic (Cannabis-Infused Beers, Cannabis-Infused Wines, Cannabis-Infused Spirits, and Others) and Non-Alcoholic (Cannabis Soda, Marijuana Tea, Marijuana Elixirs, and Cannabis Coffee and Cold Brew)), By End user (Mass Merchandisers, Specialty Store, Online Stores, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Key Market Insights from the report:

The cannabis extract market accounted for US$ 5.1 Billion in 2024 and is estimated to be US$ 38.3 Billion by 2034 and is anticipated to register a CAGR of 3.10%. The market report has been segmented on the basis of product, nature, application, distribution channel, and region.

By product, the oil segment accounts for largest revenue share in the cannabis extract market owing to growing medical applications of the product.
By nature, organic products segment is projected to surge over the forecast period due to the growing demand for organic products in the global market
By application, pharmaceutical industry has wide range of applications for Cannabis extract, where it is used for the treatment of fatal diseases, such as neurological problems, HIV/AIDS, and posttraumatic stress disorder.
By distribution channel, direct channel is projected to register surge during the forecast period owing to growing demand for cannabis extract from the pharmaceutical sector
By region, North America is driving the overall cannabis extract market size and is projected to continue its dominance throughout the forecast period. The growth is mainly projected due to massive product penetration coupled with its use due to government approvals in countries such as U.S and Canada.

Competitive Landscape:

The prominent player operating in the global cannabis extract market includes Organa Brands, Canopy Growth Corporation, Aphria Inc., Peridot Labs, Colorado Cannabis Company, Aurora Cannabis, MARICANN INC., Kynd Cannabis Company, Tilray, and Dabble Extracts

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Key Topics Covered