Cannabis Concentrate Market was valued at USD 7.05 Billion in 2022 and is projected to reach USD 24.18 Billion by 2030, growing at a CAGR of 17.0% from 2024 to 2030.
The cannabis concentrate market is growing at a rapid pace, driven by increasing demand across various applications, including pharmaceuticals, the food industry, and recreational use. Cannabis concentrates are extracted from the cannabis plant to provide potent, concentrated forms of cannabinoids and terpenes, offering a wide range of therapeutic and recreational benefits. As the market matures, the demand for cannabis concentrates continues to rise, driven by factors such as legalization, consumer interest in alternative health products, and the increasing awareness of the potential benefits of cannabis-based treatments. This report will explore the cannabis concentrate market by application, delving into the pharmaceuticals, food industry, and recreational subsegments in greater detail.
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The pharmaceutical sector remains one of the most significant drivers of growth for the cannabis concentrate market. Cannabis concentrates, particularly those rich in cannabidiol (CBD), are being increasingly incorporated into medical treatments for a variety of health conditions. CBD-based concentrates are being used for managing chronic pain, epilepsy, anxiety, and other conditions where traditional medications may fall short. With growing scientific research supporting the efficacy of cannabis-derived products in treating certain medical conditions, the pharmaceutical industry is expected to continue its adoption of cannabis concentrates. Regulatory approval of these products is a key factor in expanding their presence in the market. The potential for cannabis concentrates to offer alternatives to opioid-based medications is another factor propelling growth in this subsegment.
As the market for pharmaceutical-grade cannabis concentrates expands, the focus on product purity, consistency, and quality control becomes more critical. Pharmaceutical companies require high-quality concentrates that meet rigorous standards for both safety and efficacy. This demand has led to a surge in the development of advanced extraction technologies, ensuring that concentrates are free from harmful contaminants. The shift toward cannabis-based pharmaceuticals is supported by the increasing recognition of the therapeutic benefits of cannabinoids, paving the way for future innovation in treatments. Moreover, with a growing number of countries legalizing medical cannabis, the global market for cannabis concentrates in the pharmaceutical industry is poised for continued growth.
The use of cannabis concentrates in the food industry has seen significant growth in recent years, driven by the rise of cannabis-infused edibles. These products include a variety of consumables such as gummies, chocolates, beverages, and baked goods that contain cannabis concentrates, typically in the form of THC or CBD extracts. Consumers are increasingly seeking out edible products as a discreet and easy way to consume cannabis, without the need for smoking or vaping. This trend is especially prevalent in regions where cannabis use is legal, and as the market expands, there is a growing demand for new and innovative cannabis-infused food products. The food industry’s shift towards cannabis concentrates is fueled by the growing consumer interest in natural and plant-based products, as well as the potential health benefits of cannabinoids such as CBD.
In addition to offering health-conscious consumers alternatives to traditional cannabis consumption methods, the use of cannabis concentrates in the food industry also provides manufacturers with greater precision in dosing. The ability to infuse products with exact amounts of cannabinoids enhances the consistency and safety of edible products. The increasing acceptance of cannabis as a mainstream ingredient in food products is also contributing to the expansion of this market. As consumer preferences shift toward premium, artisanal, and high-quality edibles, cannabis concentrates will continue to play an essential role in the food industry’s growth. Furthermore, the regulatory environment surrounding cannabis-infused foods is becoming more defined, with many jurisdictions introducing clearer guidelines for producers, creating new opportunities in this space.
The recreational cannabis concentrate market has witnessed a surge in popularity as legalization efforts continue to unfold globally. Cannabis concentrates, including products such as wax, shatter, and oil, offer recreational users a more potent and effective way to experience the effects of cannabis. The demand for these products is especially strong among seasoned cannabis users who prefer higher-potency options for a more intense experience. Additionally, concentrates provide quicker onset times compared to other forms of cannabis, which appeals to recreational users seeking a faster and more predictable experience. The recreational cannabis concentrate market is also benefiting from the growing acceptance of cannabis use for both medicinal and recreational purposes in many parts of the world.
As the recreational market expands, manufacturers are introducing new and innovative products to cater to evolving consumer preferences. Concentrates are being increasingly incorporated into a variety of recreational products, including vape pens, edibles, and tinctures. Furthermore, the development of extraction technologies and improvements in concentrate purity are fueling this market segment's growth. Increased consumer education on the benefits and proper use of concentrates is also driving demand, as users become more knowledgeable about the different types of concentrates available. In regions where recreational cannabis is legal, the market for cannabis concentrates is expected to continue growing, with an emphasis on quality, innovation, and consumer choice.
One of the key trends in the cannabis concentrate market is the increasing preference for cannabis concentrates over traditional methods of consumption. With the rise of cannabis legalization, consumers are becoming more interested in concentrated forms of cannabis, which offer higher potency and more discreet consumption. Another notable trend is the shift towards solventless extraction methods, which are perceived as a cleaner and safer option compared to traditional solvent-based methods. Solventless concentrates such as rosin are gaining popularity due to their purity and minimal chemical residue, catering to the growing demand for natural and organic cannabis products.
Additionally, there is an increasing demand for personalized cannabis experiences. As consumers become more knowledgeable about cannabis and its effects, they are seeking products that cater to their specific needs, whether for medical or recreational use. This shift has led to the development of more tailored cannabis concentrates, such as those formulated for particular health conditions or designed to provide specific effects. In the recreational market, the popularity of vaping products is also on the rise, with concentrates being a key ingredient in these products. As the market matures, innovation in product offerings and extraction techniques will continue to be a driving force for the growth of the cannabis concentrate industry.
The cannabis concentrate market presents numerous opportunities for growth, particularly as legal frameworks around cannabis use continue to evolve. As more countries legalize medical and recreational cannabis, new markets are opening up for cannabis concentrate producers and distributors. There is a significant opportunity for companies to expand their presence in emerging markets, such as Europe and Latin America, where the adoption of cannabis is growing rapidly. Moreover, the demand for high-quality, consistent cannabis concentrates is increasing, providing an opportunity for producers to differentiate themselves by offering premium products that meet rigorous quality standards.
Another key opportunity lies in the innovation of new products and consumption methods. As consumer preferences evolve, companies have the chance to create new types of cannabis concentrates, such as those with specific cannabinoid profiles or those designed to cater to niche consumer segments, including wellness and beauty products. There is also significant potential in the development of cannabis-infused beverages, with concentrates being used to create innovative drinks that offer both recreational and therapeutic benefits. Finally, as consumers become more health-conscious, there is a growing opportunity to develop cannabis concentrates that are organic, solvent-free, and sustainably produced, appealing to environmentally aware consumers.
What are cannabis concentrates?
Cannabis concentrates are highly concentrated forms of cannabis that contain a high level of cannabinoids and terpenes. These are extracted from the cannabis plant using various methods such as solvent-based and solventless techniques.
How are cannabis concentrates consumed?
Cannabis concentrates can be consumed through various methods, including smoking, vaping, or infusing into edibles or beverages. Some concentrates are also used in topicals or tinctures.
Are cannabis concentrates legal?
The legality of cannabis concentrates varies by jurisdiction. In regions where cannabis is legalized for medical or recreational use, concentrates are typically legal under regulated conditions.
What is the difference between cannabis oil and cannabis concentrate?
Cannabis oil is a type of concentrate, but not all concentrates are oils. Cannabis concentrates can come in various forms, including wax, shatter, and rosin.
What are the benefits of using cannabis concentrates?
Cannabis concentrates offer higher potency, faster onset times, and more discreet consumption compared to traditional cannabis products like flower.
Can cannabis concentrates be used for medicinal purposes?
Yes, cannabis concentrates, especially those rich in CBD, are often used for medicinal purposes, including the treatment of conditions like chronic pain, anxiety, and epilepsy.
What extraction methods are used for cannabis concentrates?
Common extraction methods for cannabis concentrates include solvent-based techniques (e.g., butane or CO2 extraction) and solventless methods like rosin pressing.
What is rosin in cannabis concentrates?
Rosin is a type of cannabis concentrate made using heat and pressure to extract cannabinoids and terpenes, without the use of solvents.
How potent are cannabis concentrates?
Cannabis concentrates are much more potent than traditional cannabis flower, with THC concentrations often reaching 70-90% or higher, depending on the product.
What are the risks of consuming cannabis concentrates?
Overconsumption of cannabis concentrates can lead to intense effects, such as dizziness, paranoia, or anxiety. It is important to consume concentrates responsibly and start with small doses.
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Canopy Growth Corporation
Aurora Cannabis
Tikun Olam
Cannabis Science
Aphria
Maricann Group
Tilray
VIVO Cannabis
Medical Marijuana
STENOCARE
Canopy Growth Corporation
Terra Tech
MedMen
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Cannabis Concentrate Market
Pharmaceuticals
Food Industry
Recreational
Based on Types the Market is categorized into Below types that held the largest Cannabis Concentrate market share In 2023.
Hashish
Cannabis Budder
Cannabis Oil
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Cannabis Concentrate Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Cannabis Concentrate Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Cannabis Concentrate Market, By Type
6. Global Cannabis Concentrate Market, By Application
7. Global Cannabis Concentrate Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Cannabis Concentrate Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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