Asia Pacific Cannabis Extract Market Size & Outlook
Asia Pacific cannabis extract market, 2018-2030 (US$M)
Related Markets
Asia Pacific cannabis extract market highlights
- The Asia Pacific cannabis extract market generated a revenue of USD 210.7 million in 2023.
- The market is expected to grow at a CAGR of 34.1% from 2024 to 2030.
- In terms of segment, oils was the largest revenue generating product in 2023.
- Oils is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Japan is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 210.7 million |
| Market revenue in 2030 | USD 1,642.9 million |
| Growth rate | 34.1% (CAGR from 2023 to 2030) |
| Largest segment | Oils |
| Fastest growing segment | Oils |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oils, Tinctures |
| Key market players worldwide | Tikun Olam Cannbit Pharmaceuticals Ltd, Canopy Growth Corp, Tilray Brands Inc, Aurora Cannabis Inc, The Cronos Group, OrganiGram Holdings Inc, Aphria Inc, Maricann Group |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 4.9% of the global cannabis extract market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 2,601.3 million by 2030.
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Cannabis Extract Market Scope
Cannabis Extract Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific cannabis extract market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cannabis extract market will help companies and investors design strategic landscapes.
Oils was the largest segment with a revenue share of 80.87% in 2023. Horizon Databook has segmented the Asia Pacific cannabis extract market based on oils, tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
The market is witnessing significant growth in the Asia Pacific region owing to the increasing adoption of medical cannabis for various ailments, including chronic pain, epilepsy, and anxiety. Patients are seeking alternative treatments, and healthcare professionals are becoming more receptive to prescribing medical cannabis products.
For example, in Jan 2021, Hempstreet, an Indiabased company, launched an ayurveda cannabis tablet, Trailokya Vijaya Vati, capable of reducing pain related to menstrual cramps. Moreover, hemp, a variety of cannabis with low THC content, is being cultivated for its versatile industrial applications. This expansion of hemp cultivation is contributing to the growth of the cannabis extracts market, especially in countries like China and Australia.
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Target buyers of Asia Pacific cannabis extract market databook
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Our clientele includes a mix of cannabis extract market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific cannabis extract market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific cannabis extract market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific cannabis extract market size, by country, 2018-2030 (US$M)
Asia Pacific Cannabis Extract Market Outlook Share, 2023 & 2030 (US$M)
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