Industry Background:
The global Cannabis Concentrate market is expected to witness high demand in the forecasted period due to the increasing demand from the pharmaceutical industry. A marijuana concentrate is a highly potent THC- (Tetrahydrocannabinol) concentrated mass that looks like honey or butter. For that reason, it's often called “honey oil” or “budder” on the street. The concentration of THC may vary from product to product. A cannabis concentrate is consumed through chews and gummies, soft gel capsules, or as an additive in food and beverages.
This growth is primarily driven by The upsurging demand from the extensive expansion of the specialty food product portfolio containing cannabis concentrate and The growing demand due to innovation and availability of varieties in end-use products.
Globally, a noticeable market trend is evident The increasing demand for rare neurological disease treatment
. The Consumer Goods sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Canopy Growth Corporation (Canada), Aurora Cannabis (Canada), Tikun Olam (Isreal), Cannabis Science (Canada), Aphria (Canada), Maricann Group (Canada), Tilray (Canada), VIVO Cannabis (Canada), STENOCARE (Denmark) and Cronos Group (Canada) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 12th May 2020, Canopy Growth Corporation officially unveiled its Cannabis 2.0 portfolio in late 2019 and is pleased to provide the following updates on the Company's 2.0 innovation products that have launched into the Canadian recreational market in early 2020, and additional upcoming product releases.
Market Drivers
- The upsurging demand from the extensive expansion of the specialty food product portfolio containing cannabis concentrate
- The growing demand due to innovation and availability of varieties in end-use products
Market Trend
- The increasing demand for rare neurological disease treatment
- The legalization of cannabis concentrate in many U.S. states has encouraged a deeper penetration of cannabis concentrate in the end-use industries
Restraints
- there is a lack of staunch scientific support that cannabis concentrate is effective in disease treatment and thus, it’s legally prescribed in limited countries which include some states of the U.S., Canada, Belgium, Australia, Netherlands, and Spain.
Opportunities
The high demand for the improved quality of cannabis concentrate and Fueling demand from recreational but health-conscious enthusiasts
Challenges
The stringent government regulations
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cannabis Concentrate Study Sheds Light on
The Cannabis Concentrate Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Cannabis Concentrate industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cannabis Concentrate industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.