The global cannabis industry is expected to reach US$97.35 billion by 2026 with a CAGR of 32.92 percent over that period. However, while cannabis (and its by-products) are used in a variety of recreational and medical capacities, from medicinally prescribed flower and oils to single dose edibles — initial sector growth has demonstrated that the real profits will be made through products that require additional processing and specialized techniques to manufacture, such as edibles, oils, and beverages.
The accessibility of cannabis products and the seemingly limitless range of applications continue to push this growing industry forward every year. Some of the biggest companies are exploring, researching, and partnering with cannabis companies to create new product lines in both the recreational and medical segments of this industry.
As more regulatory changes through Health Canada and supportive federal legislative action in the cannabis space take place, cannabis extraction companies are paving the way for extraordinary innovation and creativity to bring consumers of all backgrounds products never seen before.
What are cannabis extracts?
Cannabis extracts refer to a broad range of products containing higher THC and CBD levels than typical levels found in the cannabis plant. THC and CBD levels in cannabis extracts can vary widely, with extracts reaching 99 percent THC or high CBD.
THC, or tetrahydrocannabinol, is a cannabinoid that gives the user a high, euphoric and intoxicating experience. On the other hand, CBD, or cannabidiol, is a non-intoxicating cannabinoid that has become increasingly popular as a therapeutic solution for pain, mental health issues and more. Research is needed to confirm its potential medical use and benefits.
In the market of cannabis edibles, cannabis extracts present an incredible opportunity for infusion that is efficient, cost-effective and offers controlled potency. Not only can extracts be ingested through edibles, but they can also be smoked, vaped and infused into topicals, which only adds to its versatility.
Its increased potency also means edible producers and manufacturers need less actual cannabis extract infusion than traditional cannabis plant incorporation. With the global cannabis edibles market promising to become a significant piece of the overall cannabis market, investing in these cost-effective, high-potency alternatives could become the new norm of nutraceuticals.