The global cannabis extract market was valued at USD 3.6 billion in 2022 and grew at a CAGR of 20.4% from 2023 to 2032. The market is expected to reach USD 23.1 billion by 2032. The sector is expanding as a result of the rising demand for cannabis extracts, such as oils and tinctures, as well as the regulation of cannabis for the treatment of numerous chronic diseases, including cancer, arthritis, Alzheimer's, and anxiety. Due to a deeper awareness of its many medicinal advantages, the cannabis market is growing.
The acceptance of cannabis for medicinal and recreational purposes in many areas of the world has led to tremendous development in the cannabis extract industry in recent years. Cannabis-based compounds and other advantageous substances obtained from the plant's leaves are concentrated in cannabis extracts. There are several more compounds present in cannabis besides CBD and THC, including CBG (cannabigerol), CBN (cannabinol), and CBC (cannabichromene). Extracts that concentrate on these particular cannabinoids are gaining popularity because of their possible health advantages.
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The market for cannabis extracts has been significantly influenced by the recent legalization of cannabis for medicinal and/or recreational use in a number of countries. The legalization of cannabis in additional areas creates new markets and business prospects for the extraction and selling of cannabis. The general public's attitude toward and adoption of cannabis have changed as an outcome of greater knowledge of its possible health advantages. Due to ease, accurate dosage, and discretion, consumers are looking for alternate cannabis intake methods like extracts. The market for cannabis extracts is expanding as a result of the growing consumer demand.
Cannabis and its extracts are of rising scientific interest, although compared to other medication substances, there hasn't been much study done on them. Uncertainty among consumers, medical experts, and regulators may result from a lack of thorough clinical research and long-term evidence on the effectiveness, safety, and possible interactions of cannabis extracts. This hinders the capacity to make judgments based on solid facts and may restrict market expansion.
The market for cannabis extract has possibilities for new product development and product diversification. To address certain customer demands and preferences, businesses might create new formulations, delivery systems, and product lines. To improve product effectiveness and user experiences, this involves generating customized extracts with particular cannabinoid profiles, investigating uncommon terpene combinations, and coming up with cutting-edge extraction methods.
North America led the market in 2022 with the largest market share of 77.3%. Recent data indicates that about 57.3% of American people favor the use of marijuana for ailments like inflammation, discomfort, and cancer treatment. Thus, factors including the legalization of cannabis, growing public acceptability, and more productive use for medicinal purposes are encouraging regional market growth.
North America Region Cannabis Extract Market Share in 2022 - 77.3%
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The full-spectrum segment dominated the global market in 2022 with a market share of 69.6%. Full spectrum extracts are frequently linked to the "entourage effect." According to this theory, combining cannabis compounds, terpenes, and other plant chemicals in their natural proportions may have synergistic effects that increase the extract's medicinal potential. The notion is that these substances complement one another, strengthening each other's advantages and resulting in a more thorough and efficient experience.
The oil segment held a significant market share of 62.6% in 2022. The advantages of cannabis and its derived products are well accepted. For instance, pharmacies themselves teach people about the advantages and disadvantages of marijuana use as well as the human body's normal limitations in Canada. Cancer-related nausea and vomiting are treated using oils made from cannabis.
The marijuana segment held a significant market share of 82.9% in 2022. The medicinal value of this market is what is responsible for its expansion. The THC chemical in marijuana which makes users feel high is one of more than 100 active components in the plant. In contrast, the CBD-dominant type has little to no THC and has little to no impact on the user's awareness. Marijuana is primarily utilized as a means of relieving pain and is also widely used to treat depression, tension, and anxiety. The use of marijuana for recreational and medical purposes is becoming more widely accepted, which is helping the industry expand. The demand for cannabis products is rising, and this trend is being further fueled by rising R&D spending on cannabis extract.
Report Description:
Attribute | Description |
---|---|
Market Size | Revenue (USD Billion) |
Market size value in 2022 | USD 3.6 Billion |
Market size value in 2032 | USD 23.1 Billion |
CAGR (2023 to 2032) | 20.4% |
Historical data | 2019-2021 |
Base Year | 2022 |
Forecast | 2023-2032 |
Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
Segments | Extract Type, Product Type, Source |
As per The Brainy Insights, the size of the cannabis extract market was valued at USD 3.6 billion in 2022 to USD 23.1 billion by 2032.
The global cannabis extract market is growing at a CAGR of 20.4% during the forecast period 2023-2032.
The North American region emerged as the largest market for the cannabis extract.
Rise in adoption of Cannabis Extract will influence the market's growth.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Extract Type
4.3.2. Market Attractiveness Analysis by Product Type
4.3.3. Market Attractiveness Analysis by Source
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Rise in adoption of Cannabis Extract
5.3. Restraints
5.3.1. Stringent regulations
5.4. Opportunities
5.4.1. Product innovations
5.5. Challenges
5.5.1. Lack of reliable data
6. Global Cannabis Extract Market Analysis and Forecast, By Extract Type
6.1. Segment Overview
6.2. Cannabis Isolates
6.3. Full Spectrum Extracts
7. Global Cannabis Extract Market Analysis and Forecast, By Product Type
7.1. Segment Overview
7.2. Tinctures
7.3. Oil
8. Global Cannabis Extract Market Analysis and Forecast, By Source
8.1. Segment Overview
8.2. Hemp
8.3. Marijuana
9. Global Cannabis Extract Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Cannabis Extract Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Cannabis Extract Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. The Cronos Group
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Maricann Inc
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Organigram Holdings Inc.
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. The Cronos Group
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Aphria Inc
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Tikun Olam
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. CANOPY GROWTH CORPORATION
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Tilray
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. Aurora Cannabis
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
List of Table
1. Global Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
2. Global Cannabis Isolates, Cannabis Extract Market, By Region, 2019-2032 (USD Billion)
3. Global Full Spectrum Extracts, Extract Market, By Region, 2019-2032 (USD Billion)
4. Global Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
5. Global Tinctures, Cannabis Extract Market, By Region, 2019-2032 (USD Billion)
6. Global Oil, Cannabis Extract Market, By Region, 2019-2032 (USD Billion)
7. Global Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
8. Global Hemp, Cannabis Extract Market, By Region, 2019-2032 (USD Billion)
9. Global Marijuana, Cannabis Extract Market, By Region, 2019-2032 (USD Billion)
10. Global Cannabis Extract Market, By Region, 2019-2032 (USD Billion)
11. North America Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
12. North America Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
13. North America Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
14. U.S. Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
15. U.S. Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
16. U.S. Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
17. Canada Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
18. Canada Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
19. Canada Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
20. Mexico Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
21. Mexico Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
22. Mexico Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
23. Europe Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
24. Europe Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
25. Europe Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
26. Germany Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
27. Germany Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
28. Germany Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
29. France Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
30. France Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
31. France Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
32. U.K. Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
33. U.K. Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
34. U.K. Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
35. Italy Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
36. Italy Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
37. Italy Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
38. Spain Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
39. Spain Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
40. Spain Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
41. Asia Pacific Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
42. Asia Pacific Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
43. Asia Pacific Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
44. Japan Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
45. Japan Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
46. Japan Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
47. China Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
48. China Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
49. China Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
50. India Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
51. India Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
52. India Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
53. South America Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
54. South America Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
55. South America Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
56. Brazil Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
57. Brazil Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
58. Brazil Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
59. Middle East and Africa Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
60. Middle East and Africa Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
61. Middle East and Africa Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
62. UAE Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
63. UAE Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
64. UAE Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
65. South Africa Cannabis Extract Market, By Extract Type, 2019-2032 (USD Billion)
66. South Africa Cannabis Extract Market, By Product Type, 2019-2032 (USD Billion)
67. South Africa Cannabis Extract Market, By Source, 2019-2032 (USD Billion)
List of Figures
1. Global Cannabis Extract Market Segmentation
2. Cannabis Extract Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Cannabis Extract Market Attractiveness Analysis by Extract Type
9. Global Cannabis Extract Market Attractiveness Analysis by Product Type
10. Global Cannabis Extract Market Attractiveness Analysis by Source
11. Global Cannabis Extract Market Attractiveness Analysis by Region
12. Global Cannabis Extract Market: Dynamics
13. Global Cannabis Extract Market Share by Extract Type (2022 & 2032)
14. Global Cannabis Extract Market Share by Product Type (2022 & 2032)
15. Global Cannabis Extract Market Share by Source (2022 & 2032)
16. Global Cannabis Extract Market Share by Regions (2022 & 2032)
17. Global Cannabis Extract Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global cannabis extract market based on below-mentioned segments:
Global Cannabis Extract Market by Extract Type:
Global Cannabis Extract Market by Product Type:
Global Cannabis Extract Market by Source:
Global Cannabis Extract Market by Region:
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