South Africa Cannabis Extract Market Size & Outlook
South Africa Cannabis Extract Market, 2018-2030 (US$M)
Global Market
Related Markets
South Africa cannabis extract market highlights
- The South Africa cannabis extract market generated a revenue of USD 268.0 million in 2023 and is expected to reach USD 2,560.9 million by 2030.
- The South Africa market is expected to grow at a CAGR of 38% from 2024 to 2030.
- In terms of segment, oils was the largest revenue generating product in 2023.
- Oils 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 268.0 million |
| Market revenue in 2030 | USD 2,560.9 million |
| Growth rate | 38% (CAGR from 2023 to 2030) |
| Largest segment | Oils |
| Fastest growing segment | Oils |
| 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, South Africa accounted for 6.2% 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 Middle East & Africa, South Africa cannabis extract market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 2,560.9 million by 2030.
Experts have suggested that South Africa has the potential to become the region's largest cannabis market, majorly medical cannabis, in the coming years. To capitalize on the growing market in the country, major North American and European players are entering or have already entered into the cannabis market of the country through strategic initiatives.
In March 2023, Afriplex, a manufacturing facility located in Paarl, collaborated with the Cannabis Research Institute to develop an innovative technology for extracting pure cannabidiol isolate from cannabis cultivated locally.
In May 2023, Pharma Cielo Ltd., a Canadian firm responsible for supervising the primary cultivator of dried cannabis flower and medical-grade cannabis extracts in Colombia, Pharma Cielo Colombia Holdings S.A.S., announced the first delivery of cannabidiol Isolate to a specialized biotechnology company based in South Africa.
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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 |
South Africa 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 70.45% in 2023.
Horizon Databook has segmented the South Africa cannabis extract market based on oils, tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
Experts have suggested that South Africa has the potential to become the region's largest cannabis market, majorly medical cannabis, in the coming years. To capitalize on the growing market in the country, major North American and European players are entering or have already entered into the cannabis market of the country through strategic initiatives.
In March 2023, Afriplex, a manufacturing facility located in Paarl, collaborated with the Cannabis Research Institute to develop an innovative technology for extracting pure cannabidiol isolate from cannabis cultivated locally.
In May 2023, Pharma Cielo Ltd., a Canadian firm responsible for supervising the primary cultivator of dried cannabis flower and medical-grade cannabis extracts in Colombia, Pharma Cielo Colombia Holdings S.A.S., announced the first delivery of cannabidiol Isolate to a specialized biotechnology company based in South Africa.
- South Africa Cannabis Extract Market Product Type Outlook (Revenue, USD Million , 2018-2030)
- Oils
- Tinctures
- South Africa Cannabis Extract Market Extract Type Outlook (Revenue, USD Million , 2018-2030)
- Full Spectrum
- Isolates
- South Africa 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 South Africa Cannabis Extract Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Africa Cannabis Extract Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
South Africa Cannabis Extract Market, 2018-2030 (US$M)
South Africa cannabis extract market statistics, by product, 2018-2030 (US$M)
