Canna*bis Extract Market Report 2024: Strategies And Recent Developments | Canopy Growth Corporation, Tikun Olam, Aurora Canna*bis Inc., Aphria Inc., Tilray Inc., Mylan N.V., Alkem Labs

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The Business Research Company offers in-depth market insights through Canna*bis Extract Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The canna*bis extract market size has grown exponentially in recent years. It will grow from $8.57 billion in 2023 to $10.49 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. The growth in the historic period can be attributed to emergence of cb*d market, consumer trends toward natural products, canna*bis legalization for recreational use, diverse product offerings, research and development..

The canna*bis extract market size is expected to see exponential growth in the next few years. It will grow to $22.26 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The growth in the forecast period can be attributed to health and wellness trends, consumer education initiatives, customization of extract products, integration in beauty and personal care.. Major trends in the forecast period include innovation in extraction technologies, full-spectrum and broad-spectrum extracts, focus on terpenes, product standardization and quality assurance, collaborations and partnerships..

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Market Segmentation:
The canna*bis extract market covered in this report is segmented -

1) By Product Type: Oils, Tinctures
2) By Extract Type: Full Spectrum Extracts, Canna*bis Isolates
3) By Sources: Hemp, Marijuana
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
5) By Application: Textile, Cosmetic, Pharmaceutical, Paper

Major Driver - Surging Chronic Disease Rates Fuel Growth In Canna*bis Extract Market
The increase in prevalence of chronic diseases is expected to propel the canna*bis extract market. Chronic diseases are illnesses that last a year or longer and require ongoing medical attention. The canna*bis 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 canna*bis extract market.

Competitive Landscape:
Major companies operating in the canna*bis extract market report are Canopy Growth Corporation, Tikun Olam, Aurora Canna*bis Inc., Aphria Inc., Tilray Inc., Mylan N.V., Alkem Labs, GW Pharmaceuticals plc, The Cronos Group, The Supreme Canna*bis Company Inc., Elixinol Global Limited, Westleaf Canna*bis Inc., Medipharm Labs Corp., The Valens Company Inc., Curaleaf Holdings Inc., Innovative Ind Props, Green Thumb Industries, Verano Holdings, Trulieve Canna*bis Corp., Cresco Labs Inc., Delta 9 Canna*bis Inc., BZAM Ltd., Sundial Growers Inc., Decibel Canna*bis Company, Auxly Canna*bis Group, Red White & Bloom Brands, Jazz Pharmaceuticals plc, Organigram Inc., MedReleaf Corp., Terrascend Corp.

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Top Trend - Collaborative Ventures Reshape Cannabinoids Market Landscape
Collaboration is the key trend gaining popularity in the canna*bis extract market. Major companies operating in the market are collaborating with each other to sustain in the market. For instance, in January 2023, Freedom Canna*bis Inc., a Canada-based canna*bis company, and its joint venture partner, Canna*bis Tolling Solutions (CTS), a Canada-based provider of canna*bis extraction services, announced the completion and full operation of their new canna*bis extract processing lab. This lab will provide the joint venture partners with a new revenue stream for creating canna*bis extracts. The newly built space uses state-of-the-art hydrocarbon extraction equipment. Initially, the companies will provide zero-additives canna*bis extract vape pen-ready goods and full-spectrum canna*bis extracts, also referred to as 'diamonds and sauce'. The CTS team's access to the legal concentrates market is made possible by Freedom Canna*bis, and the announcement of the extracts lab's opening expands on their already-existing partnership.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Canna*bis Extract Market Characteristics
3. Canna*bis Extract Market Trends And Strategies
4. Canna*bis Extract Market - Macro Economic Scenario
5. Canna*bis Extract Market Size And Growth
…..
27. Canna*bis Extract Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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