Cannabis is originated from Cannabis Sativa, Cannabis ruderalis, and Cannabis Indica. THC (delta-9tetrahydrocannabidiol) is the main active ingredient of cannabis which has psychoactive properties. Extracts separated from cannabis is called as cannabis extract. Cannabis extract is available in the various forms such as phoenix tears, shatter, wax, oils, and in vaporizers. Cannabis extract are widely used in healthcare and pharmaceutical sector.
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Increase in, usage of cannabis extract for treatment of chronic diseases like arthritis, Alzheimer, and caner is expected to fuel the growth of global cannabis extract market. For instance, in 2018, according to WHO (World Health Organization) around 9.6 million people are dead due to cancer, worldwide. Furthermore, legalization of cannabis is the major driving factor which is expected to boost the global cannabis extract market growth. Moreover, rise in awareness about medical benefits of cannabis extract is expected to drive the global cannabis extract market growth.
However, stringent government regulation and policies of various regions is the major restraining factor which is expected to hamper the growth of global cannabis extract market.
Global Cannabis Extract Market Segmentation
Global Cannabis Extract Market is segmented into types such as Oils, and Tinctures. Further, Global Cannabis Extract Market is segmented into extract type such as Full Spectrum, and Isolates.
Also, Global Cannabis Extract Market is segmented on the basis of five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
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Global Cannabis Extract Market Key Players
Various key players are discussed into Global Cannabis Extract Market report such as Aphria Inc, Maricann Inc, Organigram Holdings Inc, The Cronos Group, TilrayTikun Olam,Ltd, Aurora Cannabis, and Canopy Growth Corporation.
The global Global Cannabis Extract Market has been examined for the forecast period by considering Porter’s Five Force Model for the review period of 2021to 2028 In addition, a detailed SWOT analysis has been conducted for an accurate understanding of the various factors influencing the global Global Cannabis Extract Market.
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