Frequently Asked Questions
The global cannabis concentrate market was valued at USD 1.9 Billion in 2022.
The cannabis concentrate market is expected to grow at a CAGR of 6.20% from 2023 to 2030.
The global cannabis concentrate market will be valued at USD 2.89 Billion in 2030.
Oil is the leading segment by material, holding over 43% share in terms of value in 2022.
The medical segment governs the demand for cannabis concentrates in the world, holding a massive share of over 51.3% in 2022.
North America is fueling the growth of the cannabis concentrate industry, with an over one-third share in 2022.
The top players include Radient Technologies Inc., Canopy Growth Corporation, World Class Extractions Inc, and Westleaf Inc. Other major players include MediPharm Labs, Medical Marijuana Inc., Aurora Cannabis Inc, and Indiva Limited.
The rising use of medicinal cannabis concentrates and ongoing cannabis product innovation are factors in the rising demand for cannabis concentrates.
Lack of adequate financial support and harsh laws, particularly from Asian nations, are the major market restraints.
The rising popularity of cannabidiol in skin care and the growing focus on the health benefits of cannabis are the major opportunities in the cannabis concentrate industry.