The Cannabis Cultivation Market involves the planting, growing, harvesting, and selling of the cannabis plant for medical and recreational use. Cannabis, also known as marijuana, contains compounds calle cannabinoids that bind to receptors in the brain and central nervous system to create psychoactive effects. The two main psychoactive compounds in cannabis include tetrahydrocannabinol (THC) and cannabidiol (CBD).
There is growing Cannabis Cultivation Market Demand due to its medical benefits in treating conditions such as chronic pain, anxiety, depression, epilepsy, and insomnia. An increasing number of countries and states in the US are also legalizing both medical and recreational use of cannabis which is expanding the addressable market.
The Cannabis Cultivation Market Size Is Expected To Reach US$ 136 Bn By 2030, From US$ 42.9 Bn In 2023, At A CAGR Of 17.9% During The Forecast Period.
.
Key Takeaways
Key players operating in the Cannabis Cultivation Market are Pacific Cannabis Growers, Inc., Atlas Global Brands, Canntrust Holdings, Inc., The Hydropothecary Corporation, Better Holdings, Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Tilray, Organigram Holdings Inc., The Cronos Group, Maricann Group, Inc., ABcann Medicinals, Inc. and GW Pharmaceuticals plc. These players are focusing on innovations and expanding their production facilities as well as international operations to capitalize on opportunities in new markets.
The legalization of medical and recreational marijuana in more countries has opened up new opportunities for cannabis cultivators. Australia, Canada, Germany, Italy, Mexico, South Africa, Uruguay, Britain, Thailand and Israel have legalized medical cannabis in recent years. Favorable regulations and growing acceptance of cannabis for medical use is encouraging cultivators to expand globally.
To address the growing global demand, cannabis companies are increasing investments in cultivating facilities around the world. For instance, Canopy Growth opened cultivation and processing sites in Canada, Spain, Denmark and Colombia. Similarly, Aurora Cannabis has production capacity across 24 countries. It is expanding to Germany, Italy, Mexico and the UK. Such global expansion allows companies to diversify supply and access new consumer bases.
Market Drivers
The main driver fueling the growth of the Cannabis Cultivation Market is large-scale legalization of cannabis globally for both medical and recreational purposes. As regulations relax, more people are able to access and consume cannabis legally, expanding the potential market size. Between 2015 to 2022, nationwide legalization has spread rapidly in Canada and certain US states. This has encouraged many new cultivators and producers to enter the market.
Market Restraints
One of the major challenges in the Cannabis Cultivation Marketis lack of standardization. Proper farming techniques, plant strains, harvesting processes and product quality assurance measures are yet to achieve global standardization. This leads to inconsistencies and issues related to potency and safety of cultivated cannabis products. Stringent regulations and licensing processes across countries also discourage smaller players due to high entry barriers. Such regulatory challenges can slow down the overall market growth rate.
Segment Analysis
The Cannabis Cultivation Market is divided into medical cannabis and recreational cannabis. Medical cannabis is currently dominating the cultivation market as more states and countries are legalizing medical marijuana. Many patients are turning to medical cannabis for conditions such as chronic pain, anxiety, and Parkinson's disease. The acceptance of marijuana for medical use is driving more individuals and companies to grow cannabis for these medical applications.
Global Analysis
North America is expected to continue dominating the global Cannabis Cultivation Market during the forecast period. Countries such as the U.S. and Canada have legalized both medical and recreational use of cannabis which has spurred significant market growth. In the U.S., states such as California, Colorado and Florida have emerged as major cannabis cultivators. Meanwhile, Canada fully legalized cannabis nationally in 2018 which has attracted many producers. However, the Europe region is projected to witness the fastest growth during 2024-2031. Countries across Europe have increasingly liberalized their policies regarding medical cannabis in recent years. Germany, Italy, Netherlands, Portugal and Switzerland currently have thriving medical cannabis industries.
Get This Report In Japanese Language
Get This Report In Korean Language
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
(https://www.linkedin.com/in/money-singh-590844163)
Becoming A Licensed Commercial ProducerCannabis Consulting assists your business in acquiring a license issued by Health Canada for the cultivation of medical marijuana.
The seven-stage application process is not a small task but we act on behalf of your company with Health Canada for your application every step of the way.
For businesses to cultivate, extract, experiment, and sell cannabis in Canada.Cannabis Cultivation License CA: Getting a license for a marijuana cultivation business is one of the most difficult early steps in doing business in the evolving cannabis industry.
The biggest issue is understanding the complex, and often confusing, rule-making of a state licensing board that is unfamiliar with the industry.
We stay on top of industry trends so you don’t have too.COMMERCIAL CANNABIS CULTIVATION LICENSING (LP)There is only one option on how to become a licensed marijuana grower and how to get a license to sell medical marijuana in Canada, that is that you must obtain a license that of which is only issued by Health Canada.
The focus is really on the completeness of the application as that’s what Cannabis Cultivation License is based upon.
Global Cannabis Cultivation Market : OverviewThe wave behind commercialization of cannabis cultivation largely pivots on legalization of recreational cannabis, most notably in the U.S. and Canada.
The exorbitant large return on investment is essentially what drives their interest in the cannabis cultivation.Request Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=73416Spending on legal cannabis are swelling at a marked pace, spurring companies in expanding the size of cannabis farms.
In crux, the cannabis cultivation is a fast growing industry, and emerging markets such as in North America will witness the rise of numerous large-scale greenhouse production facilities.
The potential use of cannabinoids as medicine is fast gathering steam among worldwide populations.The report on the cannabis cultivation market presents a deep-dive assessment of several of the aforementioned trends behind its evolution.
The authors of the report aim to scrutinize the various issues encompassing the legalizing wave, especially the rules and regulations on product safety and labelling.Request COVID Analysis on Cannabis Cultivation Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=73416 Global Cannabis Cultivation Market: Trends and OpportunitiesSeveral states of America have witnessed the rapid increase in numbers of cultivation permits.
CBD, a key cannabinoid obtained from the marijuana plant, has been used in FDA-approved medications.Coupled with this, the colossal interest of researchers in the science behind the cannabinoid chemicals is also helping propelling opportunities in the cannabis cultivation market.
Innodez facilitates cultivation facilities, processing facility design, and dispensary design.
The planning group at InnoDez is engaged with the business development room plans for cannabis and hemp offices for clinical, mechanical, development, extraction, assembling, and retail purposes.
Regardless of whether the venture is another ground-up building or an occupant improvement in a current structure, we have the legitimate information and experience to create all that is important for an effective and utilitarian office.Email: hello@innodez.comAdd: 5777 West Century Boulevard #1110 Los Angeles, CA 90045Ph: (424) 414-0997
