Report
Description
A recent market intelligence report that is published by Data
Insights Partner on Cannabis Extract Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international. The research study also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and world Cannabis Extract Market over the short as well as long period of time. A
detailed presentation of forecast, trends, and dollar values of international Cannabis
Extract Market is offered.
Market
Insights:
In accordance with the report, the Cannabis Extract
Market is projected to expand at a CAGR of X.X% over the period
of forecast. The global Cannabis Extract
Market was valued at USD XX.X Mn in 2019 and is expected to reach USD XX.X Mn
in 2031, growing with a significant CAGR rate during the forecast period. Growing
demand for cannabis extracts including oils and tinctures, as well as increased
legalisation of marijuana for the treatment of different chronic ailments like
Alzheimer's, cancer, arthritis, and anxiety, are driving market expansion. The
total business has been increasing as the usage of marijuana for medical and
recreational purposes has increased. Legalization of marijuana in various
nations has resulted in an increase in legal product purchases, reducing black
market sales. Government-imposed taxes are also expected to provide countries
with revenue-generating opportunities. The widespread use of the product as an
antidepressant in the healthcare and pharmaceutical industries will improve the
cannabis extract industry's growth rate in the coming years. Furthermore, the
medical community's increasing pressure on legal organisations to legalise
full-spectrum medications is expected to boost demand for full-spectrum
extracts in the future. North America has made significant contributions to the
entire size of the cannabis extract market and is expected to maintain its
dominance in the near future. The regional market's expansion can be attributed
to widespread product penetration as well as its use as a result of official
approvals in countries such as Canada and the United States. Furthermore,
according to permissive legislation pertaining to its use established in
nations such as Germany, Spain, Luxembourg, and Italy, the European region is
projected to add lucratively to global market revenue in the next years.
The legalisation of cannabis extract in many sectors,
such as pharmaceutical, textile, and paper industries, has resulted in an
increase in demand for the product throughout North America, particularly in
the United States. Cannabis has been used in the pharmaceutical business in a
few European countries.
Research
Methodology:
To compile
the detailed study of the global Cannabis Extract Market, a
robust research methodology has been adopted that aids in determining the key
insights and also evaluates the growth prospects of the Cannabis Extract Market. Comprehensive and iterative research
methodology focused on minimizing deviance in order to provide the most
accurate estimates and forecast possible. The company utilizes a combination of
bottom-up and top-down approaches for segmenting and estimating quantitative
aspects of the market. Our research methodology implements a mix of primary as
well as secondary research. Our projects are initiated with secondary research,
where we refer to a variety of sources including trade databases; government
published documents, investor presentations, company annual reports, Industrial
papers, and paid databases. To carry out secondary research, the analysts have
collected the information through company annual reports, journals, company
press releases, and paid databases that were referred to gain and identify
better opportunities in the Cannabis Extract
Market.
COVID-19
Scenario Analysis:
The COVID-19
outbreak has shaken the whole economy in the world. In this scenario some
industries are doing quite well while others have been crushed. This section of
the report has explored the overall status of the COVID-19 scenario. The
industry witnessed a huge decline in terms of sales. Likewise, the Cannabis Extract Market was affected negatively due to the
shutdown of manufacturing/processing facilities for some time. The analysts
have also focused on the key measures that the companies are opting to
withstand the harsh scenario.
Segment
Covered:
Cannabis Extract Market report has been segmented By Product, By Application also
includes the market size and forecast for all these segments. Compounded annual
growth rates for all segments have also been provided for 2019 to 2031. This
report is a compilation of first-hand information, qualitative and quantitative
assessment by industry analysts, inputs from industry experts and industry
participants across the value chain.
Key Segments:
Cannabis Extract Market research report
includes an in-depth coverage of the industry with estimates & forecast
from 2022 to 2031, for the following segments:
Cannabis Extract
Market, By Product, 2022-2031 (USD Million)
·
Tinctures
·
Oils
Cannabis Extract
Market, By Application, 2022-2031 (USD Million)
·
Full Spectrum
·
Isolates
Report
Highlights:
The prime objective of the Cannabis Extract Market report is to
help the user understand the market in terms of its definition, segmentation,
market potential, influential trends, and the challenges that the market is
facing with different major regions and more than 30 major countries across the
globe. During the report's production, extensive research and analysis were
conducted. This research will assist readers in gaining a thorough
understanding of the market.
Cannabis Extract
Market, By Region, 2022-2031 (USD Million)
·
North America ( United
States, Canada, Mexico)
·
Europe (Germany, UK,
France, Italy, Russia, Spain, and Rest of Europe)
·
South Asia ( India,
Pakistan and Bangladesh)
·
East Asia (China,
Japan and South Korea)
·
South East Asia (Indonesia,
Thailand, Singapore, Malaysia, Rest of SE Asia)
·
Middle East (Turkey,
Saudi Arabia, Iran, UAE, Israel, Iraq, Qatar, Rest of MEA)
·
Africa (Nigeria,
South Africa, Egypt, Algeria, Rest of Africa)
·
South America (Brazil,
Argentina, Colombia, Chile, and Rest of SA)
·
Oceania (Australia
and New Zealand)
Companies
Profiled:
To enhance their position in the global
market, key suppliers/manufacturers are concentrating on business expansion and
product innovation. Manufacturers/producers are also working on boosting their
manufacturing capacity and product quality to gain a competitive advantage. The
following are some of the prominent manufacturers in the worldwide Cannabis
Extract Market:
·
Aphria Inc.
·
Aurora
Cannabis Inc.
·
Cannabis
Science Inc.
·
Canopy Growth
Corporation
·
Cronos Group
Inc.,
·
Maricann
Group Inc.
·
Medical
Marijuana, Inc.
·
MedMen
·
STENOCARE
·
Terra Tech
Corp.
·
Tikun Olam
·
Tilray Inc.
·
VIVO Cannabis
Inc.
·
Others
Cannabis
Extract Market Report Highlights:
·
Detailed
analysis of the parent market
·
Key players'
strategies and products supplied in the competitive landscape
·
Market
segmentation in depth analysis
·
Market size
in terms of volume and value, past, present, and future scenario
·
Potential and
specialty areas, as well as geographical regions with promising growth
prospects
·
Market
players use this information to maintain and expand their market presence, thus
it's important to have an unbiased perspective on market performance.
·
Recent
advancements and technological trends in the industry