Canada Cannabis Extract Market Size & Outlook, 2023-2030
Canada Cannabis Extract Market, 2018-2030 (US$M)
Global Market
Related Markets
Canada cannabis extract market highlights
- The Canada cannabis extract market generated a revenue of USD 350.2 million in 2023 and is expected to reach USD 1,136.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 18.3% 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 350.2 million |
| Market revenue in 2030 | USD 1,136.3 million |
| Growth rate | 18.3% (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, Canada accounted for 8.1% 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 North America, U.S. cannabis extract market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,136.3 million by 2030.
Key players in the market include Canopy Growth Corporation, Apharia, Inc. (Tilray Brands), Aurora Cannabis, Inc., Maricann Inc., Organigram Holdings Inc., The Cronos Group, and Isodiol International Inc. These players engage in mergers & acquisitions, collaborations, partnerships, new product launches, and expansions to strengthen their market position.
For instance, in June 2023, Canopy Growth Corporation partnered with VASCO Cannabis Inc., a cannabis cultivator company. The partnership aimed to expand its cannabis offerings to consumers in Quebec and expand its geographical footprint.
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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 |
Canada 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 57.11% in 2023.
Horizon Databook has segmented the Canada cannabis extract market based on oils, tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
Key players in the market include Canopy Growth Corporation, Apharia, Inc. (Tilray Brands), Aurora Cannabis, Inc., Maricann Inc., Organigram Holdings Inc., The Cronos Group, and Isodiol International Inc. These players engage in mergers & acquisitions, collaborations, partnerships, new product launches, and expansions to strengthen their market position.
For instance, in June 2023, Canopy Growth Corporation partnered with VASCO Cannabis Inc., a cannabis cultivator company. The partnership aimed to expand its cannabis offerings to consumers in Quebec and expand its geographical footprint.
- Canada Cannabis Extract Market Product Type Outlook (Revenue, USD Million , 2018-2030)
- Oils
- Tinctures
- Canada Cannabis Extract Market Extract Type Outlook (Revenue, USD Million , 2018-2030)
- Full Spectrum
- Isolates
- Canada 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 Canada Cannabis Extract Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Canada Cannabis Extract Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Canada Cannabis Extract Market, 2018-2030 (US$M)
Canada cannabis extract market statistics, by product, 2018-2030 (US$M)
