Cannabis Extraction Market: An In-depth Analysis from 2018-2027
Douglas, Isle Of Man – Cannabis extraction and extract have gone through exponential growth in the past decade. After being criminalized for a long time, the world saw and moved towards legalizing cannabis in many countries. Cannabis extraction and distribution is relatively new as cannabis distilleries have only recently become notable in the global north. In developing countries, there is still much taboo around the use of cannabis. Cannabis has not entered the formal sector in these countries yet, but with all the media and regulations around cannabis springing up, this may soon change.
One of the significant areas where cannabis extracts are used is in the medical industry. The extract mainly contains cannabinoids like CBD and THC. Many medical practitioners use CBD to alleviate pain in medical conditions. The higher concentration of Cannabinoids in extracts means the youths are much more likely to vape less as the intensity is much more. Thus, the need for alternatives to fresh cannabis also drives the market demand. Cannabis extraction is a process of passing a solvent over fresh or cured cannabis material. The material is generally present in leaves, flowers or even stems.
The growing prevalence of THC vape pens and harmful solvents for cannabis extraction, like butane and hexane, is causing many companies to invest in research and development, which drives the market.
Some major factors contribute to the overall growth of the cannabis extraction market. These include the following:
- Rising prevalence of cancer
- Growing prevalence of chronic disorders like Crohn’s disease and Arthritis
- Growing awareness in society regarding the several benefits of cannabis.
- Use of cannabis as an alternate medication to antidepressants
- Rise in medical research regarding cannabis research
- Increasing prevalence of marijuana for medicinal purposes
- Growth in legal marijuana distilleries all over the world.
- Decriminalization and legalization of marijuana in developed countries.
- Lack of legal framework in developing countries surrounding marijuana.
- Growing research by companies on sustainable extraction of cannabis.
Cannabis extraction also leads to the creation of several other products like THC drinks, gummy bears, wax and oil, which add to the increasing market growth in developed countries. The primary factor is increasing awareness regarding the several medical uses of cannabis globally. However, this leads to inorganic growth, which is why the market is growing exponentially. Cannabis extracts are also suitable for treating insomnia, adding to the market’s overall growth.
Antidepressants have a lot of side effects which is why many are apprehensive about taking them. Cannabis extracts can act as an alternative medicine that has reduced side effects. The effectiveness of cannabis extracts as an antidepressant will drive the growth rate of the cannabis extraction market. There is an increasing need to help reduce pain in chronic diseases, which adds to the rising demand in the market. However, the growth of the cannabis extraction market is restricted due to lack of formalization in the developing world.
The report identified segments within the cannabis extraction market, including the equipment, services, and methods. There was also information regarding the market size in US dollars. The report also focuses on the developed world because cannabis extraction is a formal market here. The report includes information regarding the market size, increasing growth rates, drivers, and restraints in the US, Asia, and Europe.
Countries Covered in the report are as below:
- North America – United States, Canada, and Mexico
- Europe – United Kingdom, Germany, France, Italy, Russia, Spain & Rest of Europe
- Asia-Pacific – China, India, Japan, South Korea, Australia & Rest of APAC
- Latin America – Brazil, Argentina, Peru, Chile & Rest of Latin America
- Middle East and Africa – Saudi Arabia, UAE, Israel, South Africa
Segmentation Covered into Global Cannabis Extraction Market-
– Equipment subcategories –
– Cannabis extraction equipment.
– Cannabis analytical testing equipment.
– Services subcategories –
– Cannabis extraction services.
– Cannabis analytical testing services.
– Cannabis regulatory and compliance services.
– Method subcategories –
– CO2-based extraction.
– Ethanol based extraction.
– Hydrocarbons based extraction.
– Vegetable oils based extraction.
– Other extraction methods.
Key questions answered in this report
- COVID 19 impact analysis on global Cannabis Extraction industry.
- What are the current market trends and dynamics in the Cannabis Extraction market and valuable opportunities for emerging players?
- What is driving Cannabis Extraction market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the Cannabis Extraction market?
- Key growth pockets on the basis of regions, types, applications, and end-users
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
(This information is primarily sourced from Douglas Insights UK. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).
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