Europe Cannabis Extract Market Size & Outlook, 2023-2030
Europe cannabis extract market, 2018-2030 (US$M)
Related Markets
Europe cannabis extract market highlights
- The Europe cannabis extract market generated a revenue of USD 427.2 million in 2023.
- The market is expected to grow at a CAGR of 21.3% 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, Switzerland is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 427.2 million |
| Market revenue in 2030 | USD 1,654.2 million |
| Growth rate | 21.3% (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, Europe region accounted for 9.8% 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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Europe 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 80.85% in 2023. Horizon Databook has segmented the Europe cannabis extract market based on oils, tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
Europe is gradually adopting lenient regulations surrounding cannabis and its derivatives. Several countries have legalized medical cannabis, and some are moving toward decriminalization or legalization for recreational use.
This shift is opening legal avenues for the production and sale of cannabis extracts. Moreover, the medical community in the region is increasingly recognizing the therapeutic potential of cannabis extracts, particularly cannabidiol. As a result, patients are gaining access to these products to manage a wide range of medical conditions, including chronic pain, epilepsy, and anxiety.
Furthermore, Increased investment in R&D is spurring innovation in cannabis extract products, including improved formulations and delivery methods. European countries are positioning themselves as leaders in cannabis research.
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Target buyers of Europe 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 Europe cannabis extract market , including forecasts for subscribers. This continent databook contains high-level insights into Europe cannabis extract market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe cannabis extract market size, by country, 2018-2030 (US$M)
Europe Cannabis Extract Market Outlook Share, 2023 & 2030 (US$M)
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