Product Code: GVR-3-68038-100-9
Cannabis Extract Market Growth & Trends:
The global cannabis extract market size is expected to reach USD 15.5 billion by 2030. According to a new report by Grand View Research, Inc, it is expected to expand at a CAGR of 20.6% over the forecast period. The growth is attributed to the rising usage of cannabis for recreational and medical purposes has increased. Various nations have legalized cannabis usage which has reduced the sale in the black market and increased legal product purchases.
The industry has also opened revenue-generating opportunities for various countries through government-imposed taxes on cannabis oil and tinctures that are commonly used to treat various ailments, including anxiety, nausea, and cancer. The rising prevalence of cancer is also a significant factor. The growing burden of chronic pain has also increased the demand for treatments related to pain management and thus, positively impacting the growth.
Based on product type, the oil segment held the largest revenue share of 63.0% in 2021 and is also expected to grow at the fastest rate. The product's rising medical application is one of the supporting aspects. Based on the extract, the full spectrum segment dominated with a revenue share of 69.7% in 2021. The segment has been exploding in the overall market expansion due to the increased usage of marijuana for medical and recreational applications. Legalizing marijuana has resulted in increased product purchases through legal channels, reducing black market sales in several nations.
North America held the largest revenue share of 78.9% in 2021. The legalization of cannabis extract in many sectors, such as pharmaceutical and other industries, has increased demand for the product throughout North America, particularly in the United States.
The economic downturn brought on by the COVID-19 pandemic has affected every industry. The cannabis industry went through a series of testing. As industries seek to position themselves through the coronavirus pandemic or even beyond whenever the pandemic scenario is finally resolved, commercial contracts, financials, and customers' responses are being scrutinized more than ever. But the pandemic also provided an opportunity for numerous manufacturers to streamline their operational models, eliminate inefficiencies, and rethink their launch or expansion plans.
Cannabis Extract Market Report Highlights:
- The growing cannabis legalization in several nations, demand for cannabis oil and tinctures, and the use of medical marijuana to treat chronic ailments are the factors expected to drive the growth of the industry
- The oil segment dominated with a revenue share of 63.0% in 2021, owing to the product's rising medical applications, simplicity of availability, and low price
- The full spectrum segment held the leading revenue share of 69.7% in 2021. The entourage effect-a synergistic link between cannabinoids and terpenes that increases each cannabinoid's therapeutic properties-is one of the key factors boosting segment share
- Based on source, marijuana held the highest revenue share in 2021 and is also expected to register the fastest CAGR over the forecast period
- North America accounted for the highest revenue share of 78.9% in 2021, owing to increased product uptake and usage due to marijuana legalization in the region
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Research Methodology
- 1.2 Research Scope and Assumptions
- 1.3 List to Data Sources
Chapter 2 Executive Summary
Chapter 3 Global Cannabis Extracts Market Variables, Trends & Scope
- 3.1 Market Segmentation
- 3.2 Cannabis Extracts Market Dynamics
- 3.2.1 Market Driver Analysis
- 3.2.1.1 Increasing Preference toward cannabis extracts such as oils and tinctures
- 3.2.1.2 Growing adoption of medical cannabis for the treatment of chronic diseases
- 3.2.1.3 Growing legalization of medical cannabis in various countries
- 3.2.1.4 Elimination of the black market through the legalization of medical cannabis
- 3.2.2 Market Restraint Analysis
- 3.2.2.1 Lower market access to cannabis due to the absence of legalization programs in several Asian and African countries
- 3.2.2.2 High pricing of medical cannabis in leading markets
- 3.2.2.3 Legalization of medical cannabis only for selected indications
- 3.2.2.4 Supply shortage of medical cannabis in various countries
- 3.2.3 Penetration & Growth Prospects Mapping
- 3.2.4 Global Legal Cannabis trade route
- 3.2.5 Global Legal Cannabis Demand And Supply Analysis
- 3.2.6 Global Cannabis Extracts Regulatory Scenario, By Country
- 3.2.6.1 U.S.
- 3.2.6.1.1 Cultivation/Production
- 3.2.6.1.2 Import/Export
- 3.2.6.1.3 Legal Status (CBD & THC)
- 3.2.6.1.4 Regulatory Bodies Involved
- 3.2.6.2 Canada
- 3.2.6.2.1 Cultivation
- 3.2.6.2.2 Production
- 3.2.6.2.3 Import/Export
- 3.2.6.2.4 Legal Status (CBD & THC)
- 3.2.6.2.5 Regulatory Bodies Involved
- 3.2.6.3 U.K.
- 3.2.6.3.1 Cultivation/Production
- 3.2.6.3.2 Import/Export
- 3.2.6.3.3 Legal Status (CBD & THC)
- 3.2.6.3.4 Regulatory Bodies Involved
- 3.2.6.4 Germany
- 3.2.6.4.1 Cultivation
- 3.2.6.4.2 Production
- 3.2.6.4.3 Import/Export
- 3.2.6.4.4 Legal Status (CBD & THC)
- 3.2.6.4.5 Regulatory Bodies Involved
- 3.2.6.5 Netherlands
- 3.2.6.5.1 Cultivation/Production
- 3.2.6.5.2 Import/Export
- 3.2.6.5.3 Legal Status (CBD & THC)
- 3.2.6.5.4 Regulatory Bodies Involved
- 3.2.6.6 Switzerland
- 3.2.6.6.1 Cultivation
- 3.2.6.6.2 Production
- 3.2.6.6.3 Import/Export
- 3.2.6.6.4 Legal Status (CBD & THC)
- 3.2.6.6.5 Regulatory Bodies Involved
- 3.2.6.7 Italy
- 3.2.6.7.1 Cultivation/Production
- 3.2.6.7.2 Import/Export
- 3.2.6.7.3 Legal Status (CBD & THC)
- 3.2.6.8 Poland
- 3.2.6.8.1 Cultivation/Production
- 3.2.6.8.2 Import/Export
- 3.2.6.8.3 Legal Status (CBD & THC)
- 3.2.6.8.4 Regulatory Bodies Involved
- 3.2.6.9 Czech Republic
- 3.2.6.9.1 Cultivation/Production
- 3.2.6.9.2 Import/Export
- 3.2.6.9.3 Legal Status (CBD & THC)
- 3.2.6.9.4 Regulatory Bodies Involved
- 3.2.6.10 Croatia
- 3.2.6.10.1 Cultivation/Production
- 3.2.6.10.2 Import/Export
- 3.2.6.10.3 Legal Status (CBD & THC)
- 3.2.6.10.4 Regulatory Bodies Involved
- 3.2.6.11 China
- 3.2.6.11.1 Cultivation/Production
- 3.2.6.11.2 Import/Export
- 3.2.6.11.3 Legal Status (CBD & THC)
- 3.2.6.11.4 Regulatory Bodies Involved
- 3.2.6.12 India
- 3.2.6.12.1 Cultivation/Production
- 3.2.6.12.2 Import/Export
- 3.2.6.12.3 Legal Status (CBD & THC)
- 3.2.6.12.4 Regulatory Bodies Involved
- 3.2.6.13 New Zealand
- 3.2.6.13.1 Cultivation/Production
- 3.2.6.13.2 Import/Export
- 3.2.6.13.3 Regulatory Bodies Involved
- 3.2.6.14 Japan
- 3.2.6.14.1 Cultivation/Production
- 3.2.6.14.2 Import/Export
- 3.2.6.14.3 Legal Status (CBD & THC)
- 3.2.6.14.4 Regulatory Bodies Involved
- 3.2.6.15 Australia
- 3.2.6.15.1 Cultivation/Production
- 3.2.6.15.2 Import/Export
- 3.2.6.15.3 Legal Status (CBD & THC)
- 3.2.6.15.4 Regulatory Bodies Involved
- 3.2.6.16 Brazil
- 3.2.6.16.1 Cultivation
- 3.2.6.16.2 Production
- 3.2.6.16.3 Import/Export
- 3.2.6.16.4 Legal Status (CBD & THC)
- 3.2.6.16.5 Regulatory Bodies Involved
- 3.2.6.17 Mexico
- 3.2.6.17.1 Cultivation
- 3.2.6.17.2 Production
- 3.2.6.17.3 Import/Export
- 3.2.6.17.4 Legal Status (CBD & THC)
- 3.2.6.17.5 Regulatory Bodies Involved
- 3.2.6.18 Columbia
- 3.2.6.18.1 Cultivation
- 3.2.6.18.2 Production
- 3.2.6.18.3 Import/Export
- 3.2.6.18.4 Legal Status (CBD & THC)
- 3.2.6.18.5 Regulatory Bodies Involved
- 3.2.6.19 Chile
- 3.2.6.19.1 Cultivation
- 3.2.6.19.2 Production
- 3.2.6.19.3 Import/Export
- 3.2.6.19.4 Legal Status (CBD & THC)
- 3.2.6.19.5 Regulatory Bodies Involved
- 3.2.6.20 Israel
- 3.2.6.20.1 Cultivation
- 3.2.6.20.2 Production
- 3.2.6.20.3 Import/Export
- 3.2.6.20.4 Legal Status (CBD & THC)
- 3.2.6.20.5 Regulatory Bodies Involved
- 3.2.6.21 South Africa
- 3.2.6.21.1 Cultivation
- 3.2.6.21.2 Production
- 3.2.6.21.3 Import/Export
- 3.2.6.21.4 Legal Status (CBD & THC)
- 3.2.6.21.5 Regulatory Bodies Involved
- 3.2.7 Cannabis Extracts Market - PESTLE Analysis
- 3.2.8 Industry Analysis - Porter's
- 3.2.9 Impact of COVID-19 on the market
Chapter 4 Cannabis Extracts Market: Product Type Estimates & Trend Analysis
- 4.1 Global Cannabis Extracts Market: Product Type Movement Analysis
- 4.2 Oils
- 4.2.1 Oils Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 4.3 Tinctures
- 4.3.1 Tinctures Market Estimates and Forecasts, 2016 - 2030 (USD Million)
Chapter 5 Cannabis Extracts Market: Extracts Type Estimates & Trend Analysis
- 5.1 Cannabis Extracts Market: Extract Type Movement Analysis
- 5.2 Full Spectrum Extracts
- 5.2.1 Full Spectrum Extracts Market estimates and forecasts, 2016 - 2030 (USD Million)
- 5.3 Cannabis Isolates
- 5.3.1 Cannabis Isolates Market estimates and forecasts, 2016 - 2030 (USD Million)
Chapter 6 Cannabis Extracts Market: Sources Estimates & Trend Analysis
- 6.1 Cannabis Extracts Market: Sources Movement Analysis
- 6.2 Hemp
- 6.2.1 Full Spectrum Extracts Market estimates and forecasts, 2016 - 2030 (USD Million)
- 6.3 Marijuana
- 6.3.1 Cannabis Isolates Market estimates and forecasts, 2016 - 2030 (USD Million)
Chapter 7 Global Legal Cannabis Market: End-Use Estimates & Trend Analysis
- 7.1 Cannabis Extracts Market: End-Use Movement Analysis, USD Million, 2021 & 2030
- 7.2. Medical Use
- 7.2.1. Medical Use Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.2 Cancer
- 7.2.2.1 Cancer Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.3 Chronic Pain
- 7.2.3.1 Chronic Pain Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.4 Depression And Anxiety
- 7.2.4.1 Depression And Anxiety Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.5 Arthritis
- 7.2.5.1 Arthritis Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.6 Diabetes
- 7.2.6.1 Diabetes Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.7 Glaucoma
- 7.2.7.1 Glaucoma Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.8 Migraines
- 7.2.8.1 Migraines Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.9 Epilepsy
- 7.2.9.1 Epilepsy Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.10 Multiple Sclerosis
- 7.2.10.1 Multiple Sclerosis Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.11 Aids
- 7.2.11.1 Aids Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.12 Amyotrophic Lateral Sclerosis
- 7.2.12.1 Amyotrophic Lateral Sclerosis Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.13 Alzheimer's
- 7.2.13.1 Alzheimer's Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.14 Post Traumatic Stress Disorder
- 7.2.14.1 Post Traumatic Stress Disorder Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.15 Parkinson's
- 7.2.15.1 Parkinson's Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.16 Tourette's
- 7.2.16.1 Tourette's Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.2.17 Others
- 7.2.17.1 Others Market Estimates And Forecasts, 2016 - 2030 (USD Million)
- 7.3 Recreational Use
- 7.3.1 Recreational Use Market Estimates And Forecasts, 2016 - 2030 (USD Million)
Chapter 8 Cannabis Extracts Market: Regional Estimates & Trend Analysis, by Cannabis Type, Product Type & Application
- 8.1 Global Cannabis Extracts Market Share, By Country, 2021 & 2030
- 8.1.1 U.S.
- 8.1.1.1 U.S. Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.2 Canada
- 8.1.2.1 Canada Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.3 U.K.
- 8.1.3.1 U.K. Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.4 Germany
- 8.1.4.1 Germany Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.5 Netherlands
- 8.1.5.1 Netherlands Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.6 Switzerland
- 8.1.6.1 Switzerland Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.7 Italy
- 8.1.7.1 Italy Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.8 Poland
- 8.1.8.1 Poland Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.9 Czech Republic
- 8.1.9.1 Czech Republic Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.10 Croatia
- 8.1.10.1 Croatia Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.11 China
- 8.1.11.1 China Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.12 India
- 8.1.12.1 India Cannabis Extracts Market Estimates and Forecasts, 2016 - 2027 (USD Million)
- 8.1.13 New Zealand
- 8.1.13.1 New Zealand Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.14 Japan
- 8.1.14.1 Japan Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.15 Australia
- 8.1.15.1 Australia Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.16 Brazil
- 8.1.16.1 Brazil Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.17 Mexico
- 8.1.17.1 Mexico Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.18 Colombia
- 8.1.18.1 Colombia Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.19 Chile
- 8.1.19.1 Chile Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.20 Israel
- 8.1.20.1 Israel Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
- 8.1.21 South Africa
- 8.1.21.1 South Africa Cannabis Extracts Market Estimates and Forecasts, 2016 - 2030 (USD Million)
Chapter 9 Competitive Landscape
- 9.1 Company Profiles
- 9.1.1 Canopy Growth Corporation.
- 9.1.1.1 Company overview
- 9.1.1.2 Financial performance
- 9.1.1.3 Strategic initiatives
- 9.1.2 Aphria, Inc.
- 9.1.2.1 Company overview
- 9.1.2.2 Financial performance
- 9.1.2.3 Strategic initiatives
- 9.1.3 Aurora Cannabis
- 9.1.3.1 Company overview
- 9.1.3.2 Financial performance
- 9.1.3.3 Strategic initiatives
- 9.1.4 Maricann, Inc.
- 9.1.4.1 Company overview
- 9.1.4.2 Business strategies
- 9.1.4.3 Strategic initiatives
- 9.1.5 Tilray.
- 9.1.5.1 Company overview
- 9.1.5.2 Financial performance
- 9.1.5.3 Strategic initiatives
- 9.1.6 GW Pharmaceuticals, plc. (Jazz Pharmaceuticals)
- 9.1.6.1 Company overview
- 9.1.6.2 Financial performance
- 9.1.6.3 Strategic initiatives
- 9.1.7 Tikun Olam
- 9.1.7.1 Company overview
- 9.1.7.2 Financial performance
- 9.1.7.3 Strategic initiatives
- 9.1.8 Organigram Holding, Inc.
- 9.1.8.1 Company overview
- 9.1.8.2 Financial performance
- 9.1.8.3 Strategic initiatives
- 9.1.9 The Cronos Group.
- 9.1.9.1 Company overview
- 9.1.9.2 Financial performance
- 9.1.9.3 Strategic initiatives