North America Cannabis Extract Market Size & Outlook
North America cannabis extract market, 2018-2030 (US$M)
Related Markets
North America cannabis extract market highlights
- The North America cannabis extract market generated a revenue of USD 3,358.9 million in 2023.
- The market is expected to grow at a CAGR of 15.7% from 2024 to 2030.
- In terms of segment, oils was the largest revenue generating product in 2023.
- Tinctures is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 3,358.9 million |
| Market revenue in 2030 | USD 9,326.3 million |
| Growth rate | 15.7% (CAGR from 2023 to 2030) |
| Largest segment | Oils |
| Fastest growing segment | Tinctures |
| 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, North America region accounted for 77.4% 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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North America 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 58.47% in 2023. Horizon Databook has segmented the North America cannabis extract market based on oils, tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
The strong presence of leading players in the cannabis market further strengthens its position. With more than two-thirds of the U.S. having legalized the use of cannabis to some degree, the demand and supply have increased, which is further boosting the market. Moreover, the increasing adoption of cannabis extracts owing to their therapeutic benefits is contributing to its popularity among healthcare practitioners in the region.
According to recent statistics, around 57.0% of adults in the U.S. support the use of marijuana for medical purposes, such as pain, inflammation, and cancer therapy. Similarly, as illustrated in Figure 34 a survey published by NCBI in September 2022 showcased that around 53% of the respondents use cannabis for treating medical conditions.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the North America cannabis extract market , including forecasts for subscribers. This continent databook contains high-level insights into North America cannabis extract market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America cannabis extract market size, by country, 2018-2030 (US$M)
North America Cannabis Extract Market Outlook Share, 2023 & 2030 (US$M)
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