Cannabis Cultivation Market Size, Revenue Analysis, Industry Outlook, Forecast, 2021-2028

 


According to the most recent analysis by Emergen Research, the cannabis cultivation market had a value of USD 322.50 billion in 2021 and is projected to grow at a rate of 21.9% during the forecast period. The market is expanding as a result of growing cannabis legalisation around the world and rising consumer demand for products flavoured with hemp. Hemp-based beverages, sweets, and chocolates are still in high demand on the market. The euphoric "high" from such edibles takes one to two hours to begin, but it lasts longer than when smoke or vapour is consumed. Due to advancements in scientific research and business innovation, the drawbacks of edibles, such as the unpredictable effects of marijuana after consumption, are beginning to be solved.

Additionally, while lockdown procedures were in place during COVID-19, European consumers stocked up on goods. A marketplace for hemp goods called Cannazon recorded sales worth around USD 5.04 million between January and March 2020, which corresponds to a volume of 1.6 metric tonnes. Similar increases in sales were seen in the US as consumers stocked up in anticipation of mandatory shelter requirements. As a result, it is anticipated that the market will continue to expand over the course of the projection period due to rising inventories, robust consumer demand, and an increase in regions that view the product as an essential commodity for both recreational and medical uses.

In 2021, the hemp sector led the market in terms of biomass. The expanding popularity of hemp and goods produced from it, as well as its growing acceptance among consumers due to its low THC concentration, are factors that are driving up demand. People who want to benefit from the plant's medicinal properties without getting inebriated are the main users of this method. The business is also expanding as a result of favourable government regulations allowing the use of hemp in several nations.

To learn about additional key drivers, trends, and challenges - Read our Sample Report right now! https://www.emergenresearch.com/request-sample/1192

Some major companies operating in the market include Tilray, Atlas Growers, Canopy Growth Corporation, Aurora Cannabis, Better Holdings, Jazz Pharmaceuticals, Lexaria Corp., Cronos Group Inc., Vivo Cannabis Inc., and OrganiGram Holdings.

Highlights of the Cannabis Cultivation Market Report

·       Due to the increasing legalisation and use of hemp and marijuana for the treatment of chronic ailments, the industry is expected to experience significant expansion.

·       Due to growing consumer demand and the low THC concentration of hemp and its derivative products, the hemp category dominated the market in 2021.

·       Due to the increasing use of marijuana and hemp in numerous industries, the industrial consumption category took the lead in the market in 2021.

·       Aurora Cannabis Inc. completed the acquisition of TerraFarma Inc. in May 2022, which will strengthen their Canadian recreational cannabis business and Aurora's global cannabis industry experience.

·       Two leaders in the Canadian cannabis industry, HEXO and Tilray Brands, collaborate to form a strategic alliance in March 2022.

·       As part of its strategy for ongoing growth, the company acquired Laurentian Holdings Inc. in December 2021, expanding its reach into the second-most populous province of Quebec.

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/cannabis-cultivation-market

Emergen Research has segmented the Cannabis Cultivation market based on type, application, and region:

  • Type Outlook (Revenue, USD Billion; 2019–2030)
    • Cannabis Indica
    • Cannabis Sativa
  • Application Outlook (Revenue, USD Billion; 2019–2030)
    • Recreational
    • Medical
    • Industrial Hemp
  •  Regional Outlook (Revenue, USD Billion; 2019–2030)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa

 

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Emergen Research Media Citations: https://www.emergenresearch.com/media-citations

Visit for More Insights: https://www.emergenresearch.com/insights

Explore Our Custom Intelligence services | Growth Consulting Services

Read our Press Release @ https://www.emergenresearch.com/press-releases

Latest reports| Iris Recognition Market | Chromatography Resins Market

Trending Titles| Embedded Sim Market| Solar Energy Market

 

Comments

Post a Comment

Popular posts from this blog

Biofuels Market Size Worth USD 247.38 Billion by 2027

Image
  Advancing research and development for the production of cost-effective liquid biofuels is augmenting the demand for the industry. The Global  Liquid biofuels Market  report, released by Emegen research, provides the target audience with the key information pertaining to the global Liquid biofuels Market industry. We provide detailed product mapping and investigation of various market scenarios. Our expert analysts provide a thorough analysis and breakdown of the market presence of key market leaders. We strive to stay updated with the recent developments and follow the latest company news related to the industry players operating in the global Liquid biofuels market. This helps us to comprehensively analyse the individual standing of the companies as well as the competitive landscape. Our vendor landscape analysis offers a complete study to help you gain the upper hand in the competition. Growing environmental awareness and increasing government supportive pol...
Read more

Electric Aircraft Market: A Comprehensive Overview of the Industry's Players and Trends

  The latest report, titled ‘Global   Electric Aircraft   Market,’ comprises a profound analysis of the fundamental parameters contributing to the global Electric Aircraft market scenario. The report’s authors have offered necessary details on the latest Electric Aircraft market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Electric Aircraft industry entails useful insights into the estimated Electric Aircraft market size, revenue share, and sales & distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future. Those are further intended to assist businesses involved in this sector in sound decision-making and formulating lucrative business plans. The primary addressees of this report include some of the globally renowned venture capitalists. The report offers these individuals a vivid description of the competitive spectrum of t...
Read more

Lithium Mining Market Size, Strategies, Competitive Landscape, Trends & Factor Analysis, 2021–2028

Image
  The latest market intelligence report offers valuable insights into the prevailing growth opportunities for the global  Lithium Mining market  and its intensely competitive scenario. The insightful data and information in the report have been gathered from a wide range of primary and secondary sources. This market report on Lithium Mining provides detailed information about the latest developments, trade regulations, import-export analyses, production analysis, and value chain optimization. It also analyses the impact of localized market players. Global lithium mining market size was USD 3.33 Billion in 2020 and is expected to register a revenue CAGR of 6.8%, during the forecast period, according to latest analysis by Emergen Research. Rising demand for consumer electronics products and increasing use of lithium-ion batteries in grid-scale energy storage systems are among some of the key factors driving market revenue growth. Increasing focus on Research & Develo...
Read more