As per the study initiated by Evolve Business Intelligence, Cannabis Extraction market size accounted for USD 3.8 Billion in 2022, growing at a CAGR of 17.2% from 2023 to 2033. The cannabis extraction market refers to the industry segment focused on extracting valuable compounds from the cannabis plant, primarily cannabinoids such as THC (tetrahydrocannabinol) and CBD (cannabidiol). These extracts are used for various purposes, including medical, recreational, and wellness applications. The extraction process involves removing the cannabinoids and other beneficial compounds from the plant material to create concentrated extracts. This is typically done using solvents such as ethanol, butane, or CO2. The extracted oils can then be used as ingredients in various products, including edibles, topicals, tinctures, vape cartridges, and more.
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Key Highlights:
- Cannabis Extraction Market size was valued at USD 3.8 billion in 2022 growing at a CAGR of 17.2% from 2023 to 2033.
- North America dominated the market in 2022
- Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has recently released a new market research report on Cannabis Extraction Market. The report covers a wide range of aspects, such as market size and forecast, market dynamics, analysis of competitors’ market share, value and volume of the market, SWOT analysis, product benchmarking, recent developments of key players, and potential opportunities. Additionally, the market has been assessed based on four indicators in the market dynamic chapter, including Drivers, Restraints, Key Trends, and Challenges.
In terms of COVID 19 impact Cannabis Extraction market report also includes the following data points:
- COVID19 Impact on Cannabis Extraction market size
- End-User/Industry/Application Trend, and Preferences
- Government Policies/Regulatory Framework
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in Cannabis Extraction market
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Key Players
Some of the major Cannabis Extraction players holding high market share include Tikun Olam ., Tilray., Aurora Cannabis, and Maricann Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
- Tikun Olam
- CANOPY GROWTH CORPORATION
- Tilray
- Aurora Cannabis
- The Cronos Group
- Maricann Inc
- Organigram Holdings Inc.
- The Cronos Group
- Aphria Inc
Segmental Analysis
Market Segment By Type with focus on market share, consumption trend, and growth rate of Cannabis Extraction Market:
- Oils
- Tinctures
Market Segment By Sources with focus on market share, consumption trend, and growth rate of Cannabis Extraction Market:
- Hemp
- Marijuana
Market Segment By end-user with focus on market share, consumption trend, and growth rate of Cannabis Extraction Market:
- Medical Use
| Parameters | Details |
| Market Size (2022) | $ 3.8 Billion |
| CAGR (2023 to 2033) | 17.2% |
| Market Segmentation | Type, Sources, end-user |
| Country Covered | US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America |
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Cannabis Extraction Geographic Coverage:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Nordic Countries
- Benelux
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of MEA
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Reasons to Buy this Report:
- Detail analysis of the impact of market drivers, restraints, and opportunities
- Competitive Intelligence provides an understanding of the ecosystem
- Details analysis of the Total Addressable Market (TAM) of your products
- Investment Pockets and New Business Opportunities
- Demand-supply gap analysis
- Strategy Planning
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