Cannabi*s Extract Market Size Projected To Reach $26.47 Billion By 2034 With A Cagr Of 20.1%

"The Cannabi*s Extract Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Cannabi*s Extract Market?
The market size of cannabi*s extract has seen exceptional expansion in the recent past. It's expected to escalate from $10.38 billion in 2024, reaching $12.7 billion in 2025, with a 22.3% compound annual growth rate (CAGR). The growth witnessed in the historical period is linked to the rise of the CB*D market, consumer preferences for natural products, legalization of recreational cannabi*s, a variety of product offerings, and ongoing research and development.

The market size for cannabi*s extract is anticipated to experience significant expansion in the coming years. The market is projected to escalate to a worth of $26.47 billion by 2029, growing at a compound annual growth rate (CAGR) of 20.1%. The projected growth for the timeframe can be linked to health and wellness movements, initiatives to educate consumers, personalization of extract offerings, and blending into beauty and personal care. Major trends expected in this period are advancements in extraction techniques, emphasis on full-spectrum and broad-spectrum extractions, importance of terpenes, standardizing of products and quality control measures, as well as collaborations and strategic partnerships.

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What Are the Different Cannabi*s Extract Market 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

Subsegments:
1) By Oils: CB*D Oils, TH*C Oils, Full-Spectrum Oils
2) By Tinctures: CB*D Tinctures, TH*C Tinctures, Herbal Infused Tinctures

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What Are the Primary Drivers Shaping the Cannabi*s Extract Market?
The rise in the occurrence of persistent ailments is projected to fuel the growth of the cannabi*s extract industry. These long-lasting diseases need continuous medical supervision, and cannabi*s extract has proven to be effective in treating non-cancer-related chronic pain. For instance, as reported by the World Health Organization, an affiliate of the United Nations based in Switzerland, in September 2023, there were 41 million fatalities, amounting to 74% of all deaths due to non-communicable or chronic diseases globally each year. Consequently, the rising frequency of chronic illnesses is propelling the cannabi*s extract industry.

Which Companies Are Leading in the Cannabi*s Extract Market?
Major companies operating in the cannabi*s extract market are Canopy Growth Corporation, Tikun Olam, Aurora Cannabi*s Inc., Aphria Inc., Tilray Inc., 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.

What Are the Major Trends Shaping the Cannabi*s Extract Market?
Partnerships rule as the essential development trend in the cannabi*s extraction industry. To stay relevant, large scale corporations are partnering up. For example, Freedom Cannabi*s Inc., a Canadian cannabi*s firm, and Cannabi*s Tolling Solutions (CTS), a cannabi*s extraction service company based in Canada, revealed in January 2023 that their new cannabi*s extract processing lab is fully operational. This lab will allow them to generate income from producing cannabi*s extracts. Packed with latest hydrocarbon extraction machinery, the new facility will initially produce cannabi*s extract vape products devoid of additives and full-spectrum cannabi*s extracts, also known as 'diamonds and sauce'. Through the facilitation of Freedom Cannabi*s, the CTS team can now access the legal concentrates market. The unveiling of the extract lab further strengthens the existing partnership between the two entities.

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What Are the Top Revenue-Generating Geographies in the Cannabi*s Extract Market?
North America was the largest region in the cannabi*s extract market in 2024. The regions covered in the cannabi*s extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cannabi*s Extract Market?
2. What is the CAGR expected in the Cannabi*s Extract Market?
3. What Are the Key Innovations Transforming the Cannabi*s Extract Industry?
4. Which Region Is Leading the Cannabi*s Extract Market?

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