Brazil Cannabis Extract Market Size & Outlook, 2023-2030
Brazil Cannabis Extract Market, 2018-2030 (US$M)
Global Market
Related Markets
Brazil cannabis extract market highlights
- The Brazil cannabis extract market generated a revenue of USD 25.4 million in 2023 and is expected to reach USD 88.0 million by 2030.
- The Brazil market is expected to grow at a CAGR of 19.4% 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.
Cannabis extract market data book summary
| Market revenue in 2023 | USD 25.4 million |
| Market revenue in 2030 | USD 88.0 million |
| Growth rate | 19.4% (CAGR from 2023 to 2030) |
| Largest segment | Oils |
| Fastest growing segment | Tinctures |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Brazil accounted for 0.6% of the global cannabis extract market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Mexico cannabis extract market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 101.0 million by 2030.
Key players in the market are Aurora Cannabis, Inc., MediPharm Labs Corp., and PharmaCielo Ltd. among others. These players are investing in product development to cater to the rising demand for cannabis extracts in the region. Moreover, market players are undertaking strategic initiatives to strengthen their market position and capitalize on the untapped market.
For instance, in January 2023, PharmaCielo Ltd., the Canadian company that oversees Colombia's leading producer of dried cannabis flower and high-quality medicinal cannabis extracts, announced that it has received its initial commercial purchase order for Active Pharmaceutical Ingredients (APIs).
This order comes from Ease Labs Pharma, a multinational pharmaceutical company based in Brazil with GMP certification. PharmaCielo and Ease Labs have entered into a continuous sales agreement, under which PharmaCielo will be responsible for delivering regular shipments of CBD Isolate as an API.
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Cannabis Extract Market Scope
Cannabis Extract Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Aurora Cannabis Inc | View profile | 1,130 | 3498 63 Avenue, Leduc, AB, Canada, T9E 0G8 | www.auroramj.com |
| Canopy Growth Corp | View profile | 1,621 | 1 Hershey Drive, Smiths Falls, ON, Canada, K7A 0A8 | www.canopygrowth.com |
| Tilray Brands Inc | View profile | 1,600 | 265 Talbot Street West, Leamington, ON, Canada, N8H 5L4 | www.tilray.com |
| The Cronos Group | View profile | 1001-5000 | Kontich, Antwerpen, Belgium, Europe | cronos-groep.be/ |
| OrganiGram Holdings Inc | View profile | 987 | 145 King Street West, Suite 1400, Toronto, ON, Canada, M5H 1J8 | www.organigram.ca |
| Aphria Inc | View profile | 501-1000 | Leamington, Ontario, Canada, North America | aphriainc.com/ |
| Tikun Olam Cannbit Pharmaceuticals Ltd | View profile | 51 | The Fourteenth, Tel Aviv, Israel | www.cannbit.com |
| Maricann Group | View profile | 51-100 | Burlington, Ontario, Canada, North America | www.maricann.com |
Brazil 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 Outlook will help companies and investors design strategic landscapes.
Oils was the largest segment with a revenue share of 58.27% in 2023.
Horizon Databook has segmented the Brazil cannabis extract market based on oils, tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
Key players in the market are Aurora Cannabis, Inc., MediPharm Labs Corp., and PharmaCielo Ltd. among others. These players are investing in product development to cater to the rising demand for cannabis extracts in the region. Moreover, market players are undertaking strategic initiatives to strengthen their market position and capitalize on the untapped market.
For instance, in January 2023, PharmaCielo Ltd., the Canadian company that oversees Colombia's leading producer of dried cannabis flower and high-quality medicinal cannabis extracts, announced that it has received its initial commercial purchase order for Active Pharmaceutical Ingredients (APIs).
This order comes from Ease Labs Pharma, a multinational pharmaceutical company based in Brazil with GMP certification. PharmaCielo and Ease Labs have entered into a continuous sales agreement, under which PharmaCielo will be responsible for delivering regular shipments of CBD Isolate as an API.
- Brazil Cannabis Extract Market Product Type Outlook (Revenue, USD Million , 2018-2030)
- Oils
- Tinctures
- Brazil Cannabis Extract Market Extract Type Outlook (Revenue, USD Million , 2018-2030)
- Full Spectrum
- Isolates
- Brazil Cannabis Extract Market Source Outlook (Revenue, USD Million , 2018-2030)
- Hemp
- Marijuana
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil Cannabis Extract Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Brazil Cannabis Extract Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Brazil Cannabis Extract Market, 2018-2030 (US$M)
Brazil cannabis extract market statistics, by product, 2018-2030 (US$M)
