Global Cannabis Extract Market Overview
Introduction
Cannabis Extract Market was valued at US$ 5.1 Billion in 2024 and is projected to grow at a CAGR of 3.10% to reach US$ 38.3 Billion by 2034.
Cannabis is mainly originated from Indian hemp plants, such as Cannabis indica and Cannabis sativa. The extracts resulting from cannabis concentrates are called as Cannabis Extract. The chief lively chemical in cannabis is THC (delta-9 tetrahydrocannabinol). Cannabis concentrates has various forms, including phoenix tears, oils, shatter, wax, hash and even in vaporizers. They hold very high concentration of terpenes and cannabinoids. Cannabis has an extensive range of application in pharmaceutical and healthcare sectors as an antidepressant agent. Cannabis extract is obtained using isopropyl alcohol or grain as a solvent.
Global Cannabis Extract Market Dynamics
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.
However, high pricing of cannabis extract in leading markets and lower market access of cannabis due to absence of legalization programs in several Asian and African countries is expected to limit growth of the target market.
Global Cannabis Extract Market Segmentation
The cannabis extract market is segmented based on product, nature, application, distribution channel, and region.
On the basis of product, the global cannabis extract market is segmented into oils and tinctures. On the basis of nature, the global market is classified into organic and conventional. Based on application, the global market is classified into pharmaceutical and cosmetic & paper & textile industries. Based on distribution channel, the global market is classified into direct and indirect channels
Regional Insights:
On region the cannabis extract market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 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. Further, the European is likely to account for lucratively growth towards the overall market revenue over the coming years, subject to liberal policies adopted in the countries such as Spain, Germany, Luxembourg, and Italy. Additionally, a few of the countries in Europe have allowed to use cannabis in the pharma sector.
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Attribute |
Details |
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Base year for estimation |
2023 |
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Forecast period |
2024 – 2034 |
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Market representation |
Revenue in USD Million & CAGR from 2024 – 2034 |
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Market Segmentation |
By Product - Oils and Tinctures By Nature– Organic and Conventional By Application– Pharmaceutical and Cosmetic & Paper & Textile Industries By Distribution Channel– Direct and Indirect Channels |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2026. For the purpose of this study, has segmented the global cannabis extract market report based on product, nature, application, distribution channel, and region.
Global Cannabis Extract Market, By Product:
- Oils
- Tinctures
Global Cannabis Extract Market, By Nature:
- Organic
- Conventional
Global Cannabis Extract Market, By Application:
- Pharmaceutical
- Cosmetic & Paper & Textile Industries
Global Cannabis Extract Market, By Distribution Channel:
- Direct
- Indirect Channels
Global Cannabis Extract Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Cannabis Extract Market Key Players
The key players operating 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. These companies have established strategic partnerships with extractors and other parties in the value chain to considerably strengthen their market position. For instance, Canopy Growth Corporation, partnered with Danish Cannabis ApS, and started a new joint venture called Spectrum Denmark ApS. This venture aims establishing the foothold of the company in the European market.
Global Cannabis Extract Market Company Profile
- Organa Brands
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Canopy Growth Corporation
- Aphria Inc.
- Peridot Labs
- Colorado Cannabis Company
- Aurora Cannabis
- MARICANN INC.
- Kynd Cannabis Company
- Tilray
- Dabble Extracts
“*” marked represents similar segmentation in other categories in the respective section
Global Cannabis Extract Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Cannabis Extract Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product
- Market Snippet, By Nature
- Market Snippet, By Application
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Cannabis Extract Market, By Product, 2018 – 2026, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2018 – 2026
- Y-o-Y Growth Analysis (%), 2018 – 2026
- Segment Trends
- Oils
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2026
- Tinctures
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2026
- Overview
- Global Cannabis Extract Market, By Nature, 2018 – 2026, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2018 – 2026
- Y-o-Y Growth Analysis (%), 2018 – 2026
- Segment Trends
- Organic
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2026
- Conventional
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2026
- Overview
- Global Cannabis Extract Market, By Application, 2018 – 2026, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2018 – 2026
- Y-o-Y Growth Analysis (%), 2018 – 2026
- Segment Trends
- Pharmaceutical
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2026
- Cosmetic & Paper & Textile Industries
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2026
- Overview
- Global Cannabis Extract Market, By Distribution Channel, 2018 – 2026, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2018 – 2026
- Y-o-Y Growth Analysis (%), 2018 – 2026
- Segment Trends
- Direct
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2026
- Indirect Channels
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2026
- Overview
- Global Cannabis Extract Market, By Region, 2018 – 2026, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2018 – 2026
- Y-o-Y Growth Analysis (%), 2018 – 2026
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Nature, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Application, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Country, 2018 – 2026
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Nature, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Application, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Country, 2018 – 2026
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Nature, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Application, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Country, 2018 – 2026
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Nature, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Application, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Country, 2018 – 2026
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Nature, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Application, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2018 – 2026
- Market Size and Forecast (US$ Mn), By Country, 2018 – 2026
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- Organa Brands
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Canopy Growth Corporation
- Aphria Inc.
- Peridot Labs
- Colorado Cannabis Company
- Aurora Cannabis
- MARICANN INC.
- Kynd Cannabis Company
- Tilray
- Dabble Extracts
- Organa Brands
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- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Cannabis Extract Market is segmented into Product, Nature, Application, Distribution Channel
Various factors, including the increasing acceptance of medical and recreational cannabis, legalization trends, growing awareness of the health benefits of cannabis extracts, and advancements in extraction technologies, are driving the growth of the Cannabis Extract Market.
The Cannabis Extract Market faces challenges such as regulatory uncertainties, concerns related to the psychoactive effects of certain cannabis products, and the complex legal landscape surrounding cannabis use, which act as restraints on its global expansion.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is estimated to witness a significantly high revenue share over the forecast period, indicating its dominance in the Cannabis Extract Market.
The key players operating in the target market include Canopy Growth Corporation, Aphria Inc., Peridot Labs, Colorado Cannabis Company, Aurora Cannabis, Maricann Inc., Kynd Cannabis Company, Tilray, and Dabble Extracts.