“Cannabis Extract Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cannabis extract market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for cannabis extract? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cannabis extract market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Product Type: Oils; Tinctures
- 2) By Extract Type: Full Spectrum Extracts; Cannabis Isolates
- 3) By Sources: Hemp; Marijuana
- 4) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
- 5) By Application: Textile; Cosmetic; Pharmaceutical; Paper
- Companies Mentioned: Canopy Growth Corporation; Tikun Olam; Aurora Cannabis Inc.; Aphria Inc.; Tilray Inc.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the cannabis extract market are: Canopy Growth Corporation, Tikun Olam, Aurora Cannabis Inc., Aphria Inc., Tilray Inc., Maricann Inc., The Cronos Group, Peridot Labs, Cannabis Science Inc., Terra Tech Corp., MedMen, Teva Pharmaceutical Industries Ltd., Organa Brands, Dabble Extracts, GW Pharmaceuticals PLC., and Organigram Holdings Inc.
The global cannabis extract market is expected to grow from $6.99 billion in 2022 to $8.49 billion in 2023 at a compound annual growth rate (CAGR) of 21.51%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cannabis extract market is expected to reach $18.25 billion in 2027 at a CAGR of 21.08%.
The cannabis extract market consists of sales shatter, wax and hash. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Cannabis extract refers to a compound that comes from the cannabis plant called Cannabidiol (CBD). Typically, it is an oil, that manufacturers add to various products, such as creams and lotions and people use CBD extract as a treatment for a range of diseases.
North America was the largest region in the cannabis extract market in 2022. The regions covered in the cannabis extract report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of cannabis extract are oils and tinctures. Oils in the cannabis extract market refer to an oleoresin that is extracted from cannabis such as hemp and marijuana plant. The main types of extracts are full spectrum extracts and cannabis isolates sourced from hemp and marijuana. The cannabis extract are distributed through hospital pharmacies, retail pharmacies, and online pharmacies to be used in textile, cosmetic, pharmaceutical, and paper industry.
The increasing prevalence of chronic diseases is expected to propel the cannabis extract market. Chronic diseases are illnesses that last a year or longer and require ongoing medical attention. The cannabis extract is effective in the treatment of chronic noncancer pain. For instance, according to the McKinsey report, it is anticipated that the US illness burden will rise by almost 20% through 2040. Furthermore, according to the Center for Disease Control and Prevention, six in ten Americans live with at least one chronic disease. As a result, the increasing prevalence of chronic diseases is driving the cannabis extract market.
Collaboration is the key trend gaining popularity in the cannabinoids market. Major companies operating in the market are collaborating with each other to sustain in the market. For instance, in May 2020, Pathway Rx, a Canada-based company, created a personalized cannabis therapy in collaboration with the University of Lethbridge and other research businesses to treat COVID-19 patients. The study focused on the effects of specific cannabis extracts on the ACE2 and TMPRSS2 proteins, which are embedded in cellular membranes and act as a major entrance point for the COVID-19 virus to enter host cells. The level of these enzymes was changed by the researchers using cannabis sativa extracts.
In January 2022, BevCanna Canada-based comprehensive health and wellness beverage and natural products company acquired Embark Health Inc. for an undisclosed amount. With this acquisition, BevCanna will diversify its portfolio of distinctive brands, contribute important intellectual property, and expand its portfolio of adult-use cannabis products. Embark is a Canada-based company that manufactures a variety of topicals, edibles, liquid and powder beverage mixes, and cannabis concentrates.
The countries covered in the Cannabis Extract market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cannabis extract market research report is one of a series of new reports from The Business Research Company that provides cannabis extract market statistics, including cannabis extract industry global market size, regional shares, competitors with a cannabis extract market share, detailed cannabis extract market segments, market trends and opportunities, and any further data you may need to thrive in the cannabis extract industry. This cannabis extract market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Cannabis Extract Market Characteristics
3. Cannabis Extract Market Trends And Strategies
4. Cannabis Extract Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Cannabis Extract Market
- 4.2. Ukraine-Russia War Impact On Cannabis Extract Market
- 4.3. Impact Of High Inflation On Cannabis Extract Market
5. Cannabis Extract Market Size And Growth
- 5.1. Global Cannabis Extract Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Cannabis Extract Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Cannabis Extract Market Segmentation
- 6.1. Global Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Oils
- Tinctures
- 6.2. Global Cannabis Extract Market, Segmentation By Extract Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Full Spectrum Extracts
- Cannabis Isolates
- 6.3. Global Cannabis Extract Market, Segmentation By Sources , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hemp
- Marijuana
- 6.4. Global Cannabis Extract Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- 6.5. Global Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Textile
- Cosmetic
- Pharmaceutical
- Paper
7. Cannabis Extract Market Regional And Country Analysis
- 7.1. Global Cannabis Extract Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Cannabis Extract Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Cannabis Extract Market
- 8.1. Asia-Pacific Cannabis Extract Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Cannabis Extract Market
- 9.1. China Cannabis Extract Market Overview
- 9.2. China Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Cannabis Extract Market
- 10.1. India Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Cannabis Extract Market
- 11.1. Japan Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Cannabis Extract Market
- 12.1. Australia Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Cannabis Extract Market
- 13.1. Indonesia Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Cannabis Extract Market
- 14.1. South Korea Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Cannabis Extract Market
- 15.1. Western Europe Cannabis Extract Market Overview
- 15.2. Western Europe Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Cannabis Extract Market
- 16.1. UK Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Cannabis Extract Market
- 17.1. Germany Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Cannabis Extract Market
- 18.1. France Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Cannabis Extract Market
- 19.1. Eastern Europe Cannabis Extract Market Overview
- 19.2. Eastern Europe Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Cannabis Extract Market
- 20.1. Russia Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Cannabis Extract Market
- 21.1. North America Cannabis Extract Market Overview
- 21.2. North America Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Cannabis Extract Market
- 22.1. USA Cannabis Extract Market Overview
- 22.2. USA Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Cannabis Extract Market
- 23.1. South America Cannabis Extract Market Overview
- 23.2. South America Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Cannabis Extract Market
- 24.1. Brazil Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Cannabis Extract Market
- 25.1. Middle East Cannabis Extract Market Overview
- 25.2. Middle East Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Cannabis Extract Market
- 26.1. Africa Cannabis Extract Market Overview
- 26.2. Africa Cannabis Extract Market, Segmentation By Product Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Cannabis Extract Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Cannabis Extract Market Competitive Landscape And Company Profiles
- 27.1. Cannabis Extract Market Competitive Landscape
- 27.2. Cannabis Extract Market Company Profiles
- 27.2.1. Canopy Growth Corporation
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Tikun Olam
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Aurora Cannabis Inc.
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Aphria Inc.
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Tilray Inc.
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Cannabis Extract Market
29. Cannabis Extract Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer