Global cannabis extract market is estimated to be valued at USD 12.38 Bn in 2024 and is expected to exhibit a CAGR of 17.4% during the forecast period (2024-2031). The cannabis extract market has experienced significant growth in recent years. As more states and countries move to legalize cannabis for both medical and recreational purposes, demand for purified cannabis extracts is increasing. Extracts allow for precise dosing and the production of a wide range of consumer products like edibles, beverages, topicals and vaping solutions. Advancements in extraction technologies have made it possible to efficiently and economically produce high-quality extracts at scale. Looking forward, easing regulations and the development of new medical cannabis products are expected to further propel market expansion going forward.

Market Dynamics:

The cannabis extract market growth is driven by several factors such as the growing legalization of cannabis for medical and recreational use around the world, increasing investments in cannabis extraction companies from investors and venture capital firms, rising availability of concentrates due to advancements in extraction technologies, development of new cannabis formulations and delivery formats, and increased government funding for medical cannabis research. However, the market faces some challenges from strict government regulations regarding cannabis in many countries, high costs of extraction equipment, and limited research due to federal restrictions. Key opportunities in the market include the emergence of cannabis-infused beverages, the introduction of CBD-infused wellness products, increasing use of cannabis extracts in medical applications, and growing acceptance of cannabis among consumers and healthcare professionals.

Key Features of the Study:

• This report provides an in-depth analysis of the global cannabis extract market, and provides market size (USD Bn) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global cannabis extract market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this includes Canopy Growth Corporation, Aurora Cannabis Inc, Tikun Olam, Cannabis Science Inc., Aphria Inc., Maricann Group Inc., Tilray Inc., VIVO Cannabis Inc., Medical Marijuana, Inc., STENOCARE, Cronos Group Inc., Terra Tech Corp., MedMen, Teva Pharmaceutical Industries Ltd, and Organigram Holdings Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global cannabis extract market caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cannabis extract market.

Detailed Segmentation-

• By Active Ingredient:
  • Tetrahydrocannabinol (THC)
  • Cannabidiol (CBD)
  • Cannabigerol (CBG)
  • Cannabinol
• By Product Type:
  • Oil
  • Shatter
  • Others (Gummies, Cream, etc.)
• By Extract Type:
  • Full spectrum
  • Broad Spectrum
  • Isolates
• By Indication:
  • Muscle Disorder
  • Neurological Disorder (Parkinson Disease)
  • Pain Management
  • Recreation use
• By Distribution Channel:
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
  • Canopy Growth Corporation
  • Aurora Cannabis Inc
  • Tikun Olam
  • Cannabis Science Inc.
  • Aphria Inc.
  • Maricann Group Inc.
  • Tilray Inc.
  • VIVO Cannabis Inc.
  • Medical Marijuana, Inc.
  • STENOCARE
  • Cronos Group Inc.
  • Terra Tech Corp.
  • MedMen
  • Teva Pharmaceutical Industries Ltd
  • Organigram Holdings Inc.