Cannabis Extract Market Projected to Witness Remarkable CAGR of 21.22% during 2018-2026, Reaching a Value of $ 23.64 Billion

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 The cannabis extract market has experienced significant growth and popularity in recent years. Derived from the cannabis plant, these extracts are concentrated forms of cannabinoids such as THC and CBD, offering various medicinal and recreational benefits. With the increasing legalization and decriminalization of cannabis in several countries and states, the demand for cannabis extracts has soared. The market encompasses a wide range of products, including oils, tinctures, concentrates, edibles, and topicals, catering to diverse consumer preferences. Factors such as the growing acceptance of cannabis for medical purposes, expanding research on its potential therapeutic applications, and the rising demand for alternative treatment options have propelled the cannabis extract market forward. Additionally, the emergence of innovative extraction techniques, stringent quality standards, and the introduction of new product formulations have further contributed to the market’s growth, creating opportunities for both established players and new entrants to capitalize on the expanding market potential.

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Market Definition:

The cannabis extract market refers to the industry that involves the production, distribution, and sale of concentrated products derived from the cannabis plant. These extracts are obtained through various extraction methods, such as solvent-based extraction or CO2 extraction, to isolate and concentrate the beneficial compounds found in cannabis, including cannabinoids (such as THC and CBD) and terpenes. Cannabis extracts come in different forms, such as oils, tinctures, concentrates, edibles, and topicals, and are used for medicinal, therapeutic, and recreational purposes. The market has seen significant growth due to the increasing legalization and acceptance of cannabis in many regions, as well as the growing demand for alternative treatment options and the expanding research on the potential health benefits of cannabis extracts.

Growth Drivers:

Several factors have contributed to the growth of the cannabis extract market. Firstly, the increasing legalization and decriminalization of cannabis in various countries and states have opened up new markets and opportunities for industry players. Additionally, the expanding acceptance of cannabis for medical purposes and the growing research on its potential therapeutic applications have boosted the demand for cannabis extracts. Moreover, the rising consumer preference for alternative treatment options and the shift toward natural remedies have further fueled market growth. The development of innovative extraction techniques, improved product formulations, and the establishment of stringent quality standards have also played a crucial role in driving the growth of the cannabis extract market.

Industry News:

The cannabis extract industry has recently witnessed significant developments. One notable news is the increasing global acceptance and legalization of cannabis for both medical and recreational purposes. Several countries and states have revised their laws to allow the cultivation, production, and sale of cannabis products, including extracts. This shift in regulatory frameworks has resulted in a rapid expansion of the market, attracting investments from both established companies and new entrants. Additionally, advancements in extraction technologies and techniques have improved the efficiency and quality of cannabis extracts, leading to a wider range of innovative and diverse products for consumers. The industry news also highlights the growing focus on research and development, with studies exploring the therapeutic potential of cannabinoids and their applications in various medical conditions.

Geographical Outlook:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, Russia, France, Spain, the Netherlands and Rest of Europe)

Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

Latin America (Colombia, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

  • Comprehensive market overview: Provides a detailed understanding of the current size, growth potential, and key trends in the cannabis extract market.
  • Regulatory insights: Examines the legal status and potential regulatory changes surrounding cannabis, helping readers navigate the complex regulatory environment.
  • Competitive analysis: Identifies key players, their market strategies, and product offerings, enabling businesses to benchmark their strategies and explore potential collaborations or partnerships.
  • Strategic decision-making: Equips stakeholders, investors, and businesses with valuable market insights to make informed decisions and capitalize on emerging opportunities.
  • Future market projections: Includes market forecasts, allowing readers to anticipate future trends and developments, helping in planning and strategic decision-making.
  • Industry trends and developments: Highlights the latest industry news, advancements in extraction technologies, and research on the therapeutic potential of cannabinoids, providing a comprehensive view of the market’s evolving landscape.

Major Companies in Cannabis Extract Market are:

  • Canopy Growth Corporation
  • Aphria Inc.
  • Peridot Labs
  • Colorado Cannabis Company
  • Aurora Cannabis
  • Kynd Cannabis Company
  • Tilray
  • Dabble Extracts
  • Organa Brands

Questions Answered in the Report:

  1. What is the current size and growth potential of the cannabis extract market?
  2. What are the key trends and developments shaping the industry?
  3. What is the regulatory environment surrounding cannabis and its extracts?
  4. What are the different extraction methods used in producing cannabis extracts?
  5. What are the various product segments in the cannabis extract market, such as oils, tinctures, concentrates, edibles, and topicals?
  6. Who are the key players in the market, and what are their market strategies and product offerings?
  7. What are the potential opportunities and challenges in the cannabis extract market?
  8. What is the market demand for cannabis extracts in different regions and customer segments?

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