Cannabis Extract Market by Product, Source, Type

List of Tables

The Cannabis Extract Market was valued at USD 3.57 billion in 2023, expected to reach USD 4.20 billion in 2024, and is projected to grow at a CAGR of 17.94%, to USD 11.33 billion by 2030.

The cannabis extract market encompasses a range of products derived from the cannabis plant, including oils, tinctures, capsules, and various concentrates. Necessity for these extracts mainly stems from their therapeutic applications, recreational use, and inclusion in consumer goods, emphasizing the need for research and market adaptation to evolving legal frameworks. These extracts are utilized in medicinal treatment for conditions such as chronic pain and anxiety, influencing significant end-user segments like healthcare, personal care, and food and beverage industries. Market growth is being driven by increasing legalization, rising health consciousness, and growing acceptance of cannabis for medicinal purposes. However, critical factors such as regulatory restrictions, stringent quality and safety standards, and the stigmatization of cannabis use, particularly in conservative regions, present challenges. The shifting legal landscape creates both obstacles and opportunities, necessitating continuous monitoring of policy changes to maximize market potential. Opportunities exist in the form of product innovation, with growing consumer demand for non-psychoactive compounds like CBD. Companies can focus on technological advancements in extraction processes, improving product quality and introducing sustainable products to gain competitive advantage. There is also potential in exploring new end-use sectors and in educating consumers and policymakers to further diminish stigma. Limitations include regulatory compliance costs and complexities in standardizing product quality, which could inhibit entry for smaller market players. Nonetheless, innovation areas such as the development of water-soluble extracts, which could broaden applicability in beverages and therapeutics, and the exploration of minor cannabinoids, which may offer unique health benefits, present prospects for business growth. The market is inherently dynamic, with rapid changes in consumer preferences and regulatory environments, requiring businesses to remain agile and adaptable, using robust data analytics and strategic partnerships to navigate the evolving landscape and leverage growth opportunities.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.57 billion
Estimated Year [2024]	USD 4.20 billion
Forecast Year [2030]	USD 11.33 billion
CAGR (%)	17.94%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Cannabis Extract Market

The Cannabis Extract Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing legalization of medical cannabis across regions for easy access to patients
- Growing use of marijuana for recreational and medical purposes
- Rising adoption for the treatment of chronic diseases and mental diseases
Market Restraints
- Relatively high cost of the product
Market Opportunities
- Burgeoning research and development investment for the application of cannabis across various industries
- Increasing utilization in cosmetic and personal care products
Market Challenges
- Strict regulations in legalization of cannabis extract in several countries

Porter's Five Forces: A Strategic Tool for Navigating the Cannabis Extract Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Cannabis Extract Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Cannabis Extract Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Cannabis Extract Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Cannabis Extract Market

A detailed market share analysis in the Cannabis Extract Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Cannabis Extract Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Cannabis Extract Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Cannabis Extract Market

A strategic analysis of the Cannabis Extract Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Cannabis Extract Market, highlighting leading vendors and their innovative profiles. These include Aphria, Inc, Aurora Cannabis Inc., Ayr Wellness Inc., Becanex GmbH, British American Tobacco PLC, Cannbit Pharmaceuticals, Canopy Growth Corporation, CBD American Shaman, LLC, Folium Biosciences, Freedom Leaf, Inc., High Tide Inc., Indiva Limited, Jazz Pharmaceuticals PLC, JULABO GmbH, Maricann Inc., Medical Marijuana, Inc., Medicine Man Technologies, Inc., Optimum Extracts, Organigram Holding, Inc., Peridot Labs, PharmaHemp d.o.o., The Cronos Group, Tilray Brands Inc, VIVO Cannabis Inc, and Wayland Group Corp..

Market Segmentation & Coverage

This research report categorizes the Cannabis Extract Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Product, market is studied across Oils and Tinctures.
Based on Source, market is studied across Hemp and Marijuana.
Based on Type, market is studied across Cannabis Isolates and Full Spectrum Extracts.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-A339DAEFA54E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing legalization of medical cannabis across regions for easy access to patients
  - 5.1.1.2. Growing use of marijuana for recreational and medical purposes
  - 5.1.1.3. Rising adoption for the treatment of chronic diseases and mental diseases
- 5.1.2. Restraints
  - 5.1.2.1. Relatively high cost of the product
- 5.1.3. Opportunities
  - 5.1.3.1. Burgeoning research and development investment for the application of cannabis across various industries
  - 5.1.3.2. Increasing utilization in cosmetic and personal care products
- 5.1.4. Challenges
  - 5.1.4.1. Strict regulations in legalization of cannabis extract in several countries
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Cannabis Extract Market, by Product

6.1. Introduction
6.2. Oils
6.3. Tinctures

7. Cannabis Extract Market, by Source

7.1. Introduction
7.2. Hemp
7.3. Marijuana

8. Cannabis Extract Market, by Type

8.1. Introduction
8.2. Cannabis Isolates
8.3. Full Spectrum Extracts

9. Americas Cannabis Extract Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Cannabis Extract Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Cannabis Extract Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
12.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Aphria, Inc
2. Aurora Cannabis Inc.
3. Ayr Wellness Inc.
4. Becanex GmbH
5. British American Tobacco PLC
6. Cannbit Pharmaceuticals
7. Canopy Growth Corporation
8. CBD American Shaman, LLC
9. Folium Biosciences
10. Freedom Leaf, Inc.
11. High Tide Inc.
12. Indiva Limited
13. Jazz Pharmaceuticals PLC
14. JULABO GmbH
15. Maricann Inc.
16. Medical Marijuana, Inc.
17. Medicine Man Technologies, Inc.
18. Optimum Extracts
19. Organigram Holding, Inc.
20. Peridot Labs
21. PharmaHemp d.o.o.
22. The Cronos Group
23. Tilray Brands Inc
24. VIVO Cannabis Inc
25. Wayland Group Corp.