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.
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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
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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
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