Global Cannabis Extraction Market is expected to undergo a CAGR of 38.90% during the forecast period. This indicates that the market value, which was USD 9.86 billion in 2022, would rocket up to USD 136.64 billion by 2032.
The cannabis plant, including hemp and marijuana, contains a substance called cannabidiol. It provides a number of health advantages, including easing the symptoms of cancer, curing skin conditions, assisting in the lowering of blood pressure, and reducing inflammation and pain. Delta-9-tetrahydrocannabinol (THC), the primary active component of cannabidiol, is one of approximately 80 compounds found in the cannabis sativa plant. Due to the fact that cannabidiol has been shown to be useful in the development of novel medications that cure a variety of illnesses. Only “cosmetic” goods with a THC content of less than 0.3% are permitted to contain cannabidiol. Products made from hemp that contains cannabidiol are mostly used to treat ailments including seizure disorders, anxiety, pain, dystonia, Parkinson’s disease, Crohn’s disease, and many more.
Chronic pain from injuries can be effectively treated with cannabidiol (CBD) oil. Additionally, it works well to treat insomnia, anxiety, and inflammation. Along with regulating mood, pain, and memory, it aids in enhancing an individual’s physiological and cognitive processes. One of the 113 cannabinoids found in cannabis plants, cannabidiol (CBD) makes up up to 40% of the plant’s extract.
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Drivers
- Market growth was impacted by growth and expansion.
The direct and indirect growth of this market was aided by the rise and expansion of the personal care and cosmetics industries. This is due to the fact that cannabidiol is useful for treating skin disorders including eczema and psoriasis as well as swelling, discomfort, and redness brought on by ongoing outbreaks.
- Increasing understanding of how to control market supply and demand
Small and medium-sized businesses are using cannabidiol more frequently as a result of growing public awareness of its therapeutic effects. Additionally, hemp oil is widely used in the pharmaceutical industry since it eases physical pain, which is a good indicator. This is supporting the market’s expansion in turn.
- Epilepsy prevalence is increasing, and the FDA has recently approved more marijuana-based medications for use in treating it.
Epilepsy condition is becoming more common as a result of the increased usage of marijuana in the production of pharmaceutical medications used to treat it. Due to the increase in epilepsy instances worldwide, several major manufacturers have introduced a marijuana-based product to treat epilepsy. Epilepsy became the most prevalent neurological disorder in 2022, when there were an estimated 50 million cases worldwide, according to the World Health Organization. As a result, there was an enormous increase in demand for medical marijuana.
Global Cannabis Extraction Market: Major Players
Neptune Wellness Solutions Inc
Valens GroWorks Corp
C21 Investments Inc
BAS Research, Inc
Einstein Labs
MediPharm Labs Corp
Halo
Peridot Labs
Westleaf Inc
Indiva Limited
Global Cannabis Extraction Market: Types
Solvent & Solventless Extraction
Dry-sieve Extraction (Solvent-less)
Water Extraction (Solvent-less)
Rosin Press Extraction (Solvent-less)
Isopropyl Oil or Quick-Wash ISO Extraction (Solvent)
Butane Honey Oil Extraction (BHO)
Supercritical Co2 Oil Extraction (Solvent)
Ethanol Extraction (Solvent)
Global Cannabis Extraction Market: Applications
Food
Medicine
Cosmetics
Others
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Global Cannabis Extraction Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Cannabis Extraction market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Key Points:
Define, describe and forecast Cannabis Extraction product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
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