2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Industry-Specific Factors Are Fueling the Growth of theCannabis Extract Market?

The escalation in the occurrence of persistent diseases is projected to fuel the cannabis extract market. These are health conditions that persist for over a year and necessitate constant medical intervention. Cannabis extract has proven effective in managing enduring noncancer pain. For instance, the World Health Organization, a Switzerland-based subsidiary of the United Nations, reported in September 2023 that there were 41 million deaths, 74% of them attributed to non-communicable diseases (NCDs) or chronic diseases globally every year. Consequently, the rising occurrence of chronic disease is propelling the cannabis extract market.

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#How Does the ProjectedCannabis Extract Market Growth Compare Over the Forecast Period?

The market size of the cannabis extract has significantly expanded in the past few years. It is projected to rise from $10.38 billion in 2024 to $12.7 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 22.3%. The increase during the historic period can be tied to the rise of the CBD market, the consumer leanings towards natural products, legalization of cannabis for leisure use, a wide range of product availability, and ongoing research and development.

The market size of cannabis extract is projected to witness substantial growth in the upcoming years, escalating to a whopping $26.47 billion in 2029 with a 20.1% compound annual growth rate (CAGR). Factors contributing to the estimated growth during this forecast period are linked to health and wellness trends, ongoing consumer education efforts, personalization of extract products, and their integration within the beauty and personal care industry. Predominant trends during the projected time frame entail advancements in extraction technologies, the emphasis on full-spectrum and broad-spectrum extracts, attention towards terpenes, standardization of products and quality assurance, together with various collaborations and partnerships.

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

Partnerships are emerging as the leading trend in the cannabis extract industry. To remain competitive, principal companies in the industry are coming together. For example, Freedom Cannabis Inc., a company producing cannabis in Canada, collaborated with its business partner, Cannabis Tolling Solutions (CTS), a provider of cannabis extraction services in the same country. They announced in January 2023 about the successful set up and operation of their new extraction lab that will give the partners a fresh revenue source through cannabis extracts. The newly-constructed facility utilizes cutting-edge hydrocarbon extraction technology. The firms will start by supplying cannabis extract topicals with no additives and comprehensive cannabis extracts, also known as ‘diamonds and sauce’. Freedom Cannabis has facilitated the CTS team’s entrance into the legitimate concentrates market, and the revelation of the new extraction lab marks another milestone in their partnership.

Which Companies Are Leading the Charge in Expanding theCannabis Extract Market Growth?

Major companies operating in the cannabis extract market are Canopy Growth Corporation, Tikun Olam, Aurora Cannabis Inc., Aphria Inc., Tilray Inc., GW Pharmaceuticals PLC, The Cronos Group, The Supreme Cannabis Company Inc., Elixinol Global Limited, Westleaf Cannabis Inc., Medipharm Labs Corp., The Valens Company Inc., Curaleaf Holdings Inc., Innovative Ind Props, Green Thumb Industries, Verano Holdings, Trulieve Cannabis Corp., Cresco Labs Inc., Delta 9 Cannabis Inc., BZAM Ltd., Sundial Growers Inc., Decibel Cannabis Company, Auxly Cannabis Group, Red White & Bloom Brands, Jazz Pharmaceuticals PLC, Organigram Inc., MedReleaf Corp., Terrascend Corp.

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How is the Global Cannabis Extract Market Segemented?

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

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https://www.thebusinessresearchcompany.com/customise?id=8080&type=smpGlobal Cannabis Extract Market, Global Cannabis Extract Market Report, Global Cannabis Extract Market Trends, Global Cannabis Extract Market Size

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