Press release
Cannabis Extraction Market Analysis And Forecast - Dominant Players are Cresco Labs, MedMen, Acreage Holdings
According to this study, the global Cannabis Extraction market size was estimated at USD 5.3 billion in 2018 and is expected to reach USD 23.7 billion by 2025 at a CAGR of 22.1% over the forecast period.
The major key players covered in this report: Trulieve, Planet 13, Curaleaf, Green Thumb Industries, Cresco Labs, MedMen, Acreage Holdings, Harvest House of Cannabis, Halo, and Columbia Care.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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North America accounted for the largest revenue share in 2018, amounting to USD 4.8 billion. This is majorly attributed to high product adoption and utilization owing to government approvals. A decade ago, only 32.0% favored legalization and 60.0% opposed its use. However, as of 2018, use of medical marijuana is legal in 30 states, along with Puerto Rico, Guam, and the District of Columbia in U.S. Currently; nearly 57.0% adults in U.S. are in favor of using marijuana for medical purposes, such as treatment of inflammations, pain, and cancer. Hence, increasing support of U.S. citizens regarding the use of cannabis extracts for medical purposes will fuel market growth during the forecast period.
Europe held the second largest revenue share in 2018. Italy is the fourth largest consumer of marijuana oil and its concentrates. Before 2000, medical use of marijuana in certain quantities was legalized in Netherlands; however, its sale was still illegal and hence marijuana was sourced from the illicit market. Therefore, the Office of Medicinal Cannabis was established in March 2000, to make quality product available to patients.
The cannabis concentrates market in Israel is expected to register a CAGR of 34.3% from 2019 to 2025, making it highly lucrative over the forecast period. This can be attributed to liberal government policies, technical innovations and high research activity, and a well-developed ecosystem. In January 2017, the government invested USD 2.13 Million in 13 different research projects to study the effect of marijuana on conditions such as metabolic syndrome and prevention of transplanted organ rejection. Increasing investments in R&D are likely to expand the application of marijuana in the medical field.
This report segments the global Cannabis Extraction Market based on Types are:
Sub/Supercritical CO2 Extraction, Ethanol Extraction, Hydrocarbon Extraction, Solvent-less Extraction, Others.
The ethanol extraction and hydrocarbon extraction are two of the most potential segmental markets for United States cannabis extraction in the world.
Based on Application, the Global Cannabis Extraction Market is Segmented into:
Recreational, Medical.
Medical is the moist widely usage which has about 58% market share in 2018.
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Regions covered By Cannabis Extraction Market Report.
North America: United States, Canada, and Mexico.
Central and South America: Brazil and Argentina.
The Middle East and Africa: Saudi Arabia, and Turkey.
Europe: Germany, France, UK, Italy, Spain, and Russia.
Asia-Pacific: China, India, Japan, South Korea, Australia, Indonesia, and Singapore.
These segments are thoroughly evaluated on an individual basis and a team of analysts has ensured to give a crystal clear idea about various lucrative segments of the industry. This detailed analysis of segmentation help in offering precise results about the markets related to industry.
Significant Features that are under Offering and Key Highlights of the Reports:
- Detailed overview of Cannabis Extraction Market
- Changing Cannabis Extraction market dynamics of the industry
- In-depth market segmentation by Type, Application, etc.
- Historical, current and projected Cannabis Extraction market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Cannabis Extraction Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth.
The report has 150 tables and figures browse the report description and TOC:
https://www.marketinsightsreports.com/reports/01201782880/global-cannabis-extraction-market-growth-2020-2025?source=openpr&mode=86
All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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