Industry Background:
Over the past couple of decades, cannabis and cannabis-based products are being legalized in various geographic locations such as the United States & Canada. As the government are focusing on legalizing the medicinal and recreational use of cannabis number of players are focusing on taking advantage of the emerging market. In this growing industry, market players are using several established scientific cannabis extraction techniques to isolate the desired cannabis components. All extraction methodologies for the cannabis extraction yield an oil once the solvent has been removed. Moreover, rising awareness about medicinal applications of cannabis expected to drive the market demand during the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Westleaf Inc. (Canada), MediPharm Labs Corp (Canada), Valens GroWorks Corp (Canada), Indiva Limited (Canada), Neptune Wellness Solutions Inc. (Canada), Peridot Labs (United States), Halo (United States), BAS Research, Inc. (United States), Einstein Labs (United States) and C21 Investments Inc. (Canada) |
This growth is primarily driven by Increasing Medicinal Application of Cannabis and Growing Government Focus on Legalization of Cannabis.
Globally, a noticeable market trend is evident Technological Advancement in Cannabis Extraction Technologies Major Vendors, such as Westleaf Inc. (Canada), MediPharm Labs Corp (Canada), Valens GroWorks Corp (Canada), Indiva Limited (Canada), Neptune Wellness Solutions Inc. (Canada), Peridot Labs (United States), Halo (United States), BAS Research, Inc. (United States), Einstein Labs (United States) and C21 Investments Inc. (Canada), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
16th September 2019, Flower One a leading cannabis cultivator, innovator, and producer officially announced the launch of Nevada’s largest cannabis production and extraction facility. The new lab is designed for the production of full-spectrum oils, cannabis-derived terpenes, distillate, concentrates, and other cannabis products.
Regulatory Insights:
“14th June 2019, the Government of Canada announced amendments to the Cannabis Regulations setting out the rules governing the legal production and sale of edible cannabis, cannabis extracts, and cannabis topicals. In keeping with the federal government’s public health approach to the legalization and strict regulation of cannabis, the amended regulations seek to reduce the health risks of these cannabis products. At the same time, the amendments provide for a broad diversity of cannabis products, which will help displace the illegal market. The amended regulations will come into force on October 17, 2019.”
Influencing Trend:
Technological Advancement in Cannabis Extraction Technologies
Market Growth Drivers:
Increasing Medicinal Application of Cannabis and Growing Government Focus on Legalization of Cannabis
Restraints:
Stringent Government Regulations for the Usage of Cannabis
Opportunities:
Emphasizing On Product Development via New Product Delivery Solutions and R&D and Increasing Demand for Medical Grade Cannabis
AMA Research follows 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 showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze 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 includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Cannabis Extraction Market
- Analysis about New Entrants in Cannabis Extraction Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Cannabis Extraction Study Sheds Light on
The Cannabis Extraction Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Cannabis Extraction industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cannabis Extraction industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, 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 the value they currently claim or capture the new addressable opportunity.