The Cannabis Extract Market is a fast-growing industry focused on processing and extracting medical compounds and oils from cannabis plants. Cannabis extracts offer advantages over dried plants, including consistent dosing and easy consumption. Cannabis extracts contain cannabinoids like CBD and THC that are used to treat conditions such as chronic pain, epilepsy, insomnia, and anxiety.
The global Cannabis Extract Market is estimated to be valued at US$ 10,704.56 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
Growth Accelerated by Rising Adoption of Cannabis Extracts
The key trend driving growth in the Cannabis Extract Market is the rising adoption of cannabis extracts over dried plants. Cannabis extracts allow for precise and consistent dosing through easy-to-use formats like oils, edibles, and topicals. Extracts also provide faster relief compared to smoking dried flowers since cannabinoids are pre-activated. Furthermore, extracts allow cannabis products to be incorporated into a wide variety of consumer packaged goods. The growing popularity of convenient and consistent extract formats is expected to propel market growth over the forecast period.
Segment Analysis
The global cannabis extract market is dominated by the oil sub-segment. Cannabis extract oils are gaining popularity due to their wide range of medical applications and health benefits. The major cannabis extract oil types that are available commercially are CBD oils and THC oils. CBD oils have several medical benefits and are legally allowed to be sold in many countries due to low psychoactive properties. This drives the oil sub-segment's market dominance in the global cannabis extract industry.
Key Takeaways
The global Cannabis Extract Market Analysis is expected to witness high over the forecast period of 2023 to 2030. The global Cannabis Extract Market is estimated to be valued at US$ 10,704.56 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
Regional analysis suggests that North America is currently dominating the global market due to early legalization of medical cannabis in countries like the US and Canada. The region is expected to continue its dominance over the forecast period owing to increasing cultivation and production of cannabis for both medical and recreational uses. The Asia Pacific region is expected to grow at the fastest rate during the forecast period owing to rising adoption of cannabis for medical use in countries like Australia, China, India, South Korea, Thailand etc.
Key players operating in the cannabis extract market are Anixter International Inc., AVI Systems Inc, AVI-SPL Inc., CCS Presentation Systems, Ford Audio-Video LLC, Avidex Industries, Herman ProAV, Kramer Electronics, Samsung, Vistacom Inc, Biamp Systems, proAV Limited, Professional Audio Visual Ltd., Cypress Technology Co., Ltd. (CYP), Pro AV Solutions Pty Ltd, Audio Technica, NETGEAR, LG Electronics, Logitech, Sony, Black Box Corporation, Guntermann & Drunck GmbH, Aten International Co., Ltd, Adder Technology Ltd, Rextron.
Get more insights on this topic: https://www.newsstatix.com/cannabis-extract-market-scope-analysis/
CBD is a hemp extract, derived from the cannabis plant and CBD buds are the flower of the CBD extract.
CBD flower is a product that is not readily available for sale.
Because of the controversy surrounding it.
Controversies are because CBD flower is many times misunderstood for marijuana flower.
To understand this better, read the article.
Twisted Extracts | Sativa 1:1 Oil Drops$45.00https://weedcargo.ca/product/twisted-extracts-sativa-11-cannabis-oil-drops-150mg/Simple, natural and versatile.
The new Twisted Extracts Drops are made with only two ingredients; cannabis extract and avocado oil.
Whatever your dose, these drops make it easy to incorporate cannabis and CBD into your daily routine.Shop Twisted ExtractsBuy CBD Oil Online
ReportCrux Market Research has published a new report titled “Cannabis Extract Market Segmented by Product (Tinctures, Oils); by Extract type (Cannabis Isolates, Full spectrum); by Type of nature (Conventional, Organic); by Distribution (Indirect, Direct); by Application (Pharmaceutical, Textile & Paper, Cosmetics and Other) and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027”.
Request for Sample Report (Including COVID19 Impact Analysis, full TOC, Tables and Figures) of Cannabis Extract Market – https://reportcrux.com/request-sample-report/Cannabis-Extract-Market Market Overview Cannabis is derived from the hemp plants like Cannabis indica and Cannabis sativa, and which has an active ingredient known as THC (delta-9 tetrahydrocannabinol).
The key factors driving the global market for cannabis extracts include rising legalization of marijuana in various countries for recreational purpose as well medical use, increasing use of marijuana for the treatment of various chronic pain involved diseases, mental disorders, anxiety, depression and many others.
Legalization of marijuana in some countries has helped in declining the black-market sales, as well the tax charged by the government is also helping to create higher revenue opportunities.
This is expected to rise the demand for tinctures in the future and hence is expected to grow at the faster CAGR of 15.6% during the forecast period of 2020 to 2027.
The full spectrum segment dominated the market.
