Cannabi*s Extract Global Market Report 2024 - By Demand, Trends, Share, Industry Growth, Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Cannabi*s Extract Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $362.58 billion In 2028 At A CAGR Of 4.9% :
The cannabi*s 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, cannabi*s legalization for recreational use, diverse product offerings, research and development.

The cannabi*s 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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Cannabi*s Extract Market Major Segments
The cannabi*s extract market covered in this report is segmented -
1) By Product Type: Oils, Tinctures
2) By Extract Type: Full Spectrum Extracts, Cannabi*s Isolates
3) By Sources: Hemp, Marijuana
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
5) By Application: Textile, Cosmetic, Pharmaceutical, Paper

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

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

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

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Largest And Fastest Growing Region In The Market
North America was the largest region in the cannabi*s extract market in 2023. The regions covered in the cannabi*s extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

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