Discover trends, market shifts, and competitive outlooks for the cannabis extract industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

#How Has the Cannabis Extract Market Growth Performance Trended Historically, And What Lies Ahead?

The market size for cannabis extract has seen robust growth in the past few years. Its size is projected to increase from $10.38 billion in 2024 to $12.7 billion in 2025, with a compound annual growth rate (CAGR) of 22.3%. Factors such as the rise of the CBD market, a shift in consumer preferences towards natural products, the legalization of cannabis for leisurely use, a variety of product options, and continuous research and development have all contributed to the growth during the historic period.

The market size of cannabis extracts is anticipated to undergo a significant surge in the coming years, reaching $26.47 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 20.1%. The projected growth during the forecast period is largely due to trends in health and wellness, initiatives to educate consumers, tailored extract products, and their incorporation in beauty and personal care sectors. Key trends expected in the forecast period encompass advances in extraction technologies, use of full-spectrum and broad-spectrum extracts, importance of terpenes, standardization and quality checking of products, along with collaborations and partnerships.

Download a free sample to assess the report’s scope and structure:

https://www.thebusinessresearchcompany.com/sample.aspx?id=8080&type=smp

What Are the Core Market Drivers Propelling Growth in the Cannabis Extract Industry?

The surge in chronic disease prevalence is anticipated to fuel the growth of the cannabis extract market. Chronic diseases, which usually persist for a year or more and necessitate continuous medical supervision, can be effectively treated with cannabis extract. In September 2023, the World Health Organization, a specialized UN agency based in Switzerland, cited 41 million deaths, accounting for 74% of those due to non-communicable diseases (NCDs) or chronic diseases, which occur globally every year. Consequently, the escalating prevalence of chronic diseases is boosting the cannabis extract market.

How Is the Cannabis Extract Market Segmented?

The cannabis extract market covered in this report is segmented –

1) By Product Type: Oils, Tinctures

2) By Extract Type: Full Spectrum Extracts, Cannabis 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: CBD Oils, THC Oils, Full-Spectrum Oils

2) By Tinctures: CBD Tinctures, THC Tinctures, Herbal Infused Tinctures

Request customized data on this market:

https://www.thebusinessresearchcompany.com/customise?id=8080&type=smp

Which Regions Are Driving the Next Phase of the Cannabis Extract Market Growth?

North America was the largest region in the cannabis extract market in 2024. The regions covered in the cannabis extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Key Market Trends and Innovations Are Shaping the Future of the Cannabis Extract Industry?

Partnerships are emerging as a dominant trend within the cannabis extract market. To continue thriving in this market, key players are choosing to cooperate with others. For example, in January 2023, a collaboration between Freedom Cannabis Inc., a cannabis company out of Canada, and Cannabis Tolling Solutions (CTS), also Canadian and specializing in cannabis extraction services, led to the successful establishment of a new cannabis extraction lab. This facility introduces an alternative income source for the partnership through the production of cannabis extracts. The lab employs cutting-edge technology for hydrocarbon extraction. The initial offerings will be cannabis extract vape pen-ready products with no added substances, and full-spectrum or ‘diamonds and sauce’ cannabis extracts. Freedom Cannabis enables the CTS team to penetrate the legal concentrate market, and the launch of the extraction lab enhances their existing alliance.

View the full report here:

https://www.thebusinessresearchcompany.com/report/cannabis-extract-global-market-report

How Is the Cannabis Extract Market Defined and What Are Its Core Parameters?

Cannabis extract refers to a compound that comes from the cannabis plant called cannabidiol (CBD). Typically, it is an oil, that manufacturers add to various products, such as creams and lotions, and people use CBD extract as a treatment for a range of diseases.

Purchase the full report and get a swift delivery:

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8080

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Get in touch with us:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model