Global Cannabis Cultivation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

“Global Cannabis Cultivation Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global cannabis cultivation market has been segmented on the basis of biomass, application, as well as regions and countries.

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Overview:

Cannabis cultivation is a term that refers to growing cannabis, either in a commercial facility or in a home garden. Cannabis cultivation can occur outdoors, but is more likely to be indoors in a hydroponic (soilless) set-up.

Dynamics:

The gradual increase in the legalization of cannabis and its increasing adoption as a form of treatment for chronic diseases across the world is a primary factor that is expected to continue to fuel the revenue growth of the global cannabis cultivation market in the foreseeable future. Moreover, the liberalization laws concerning cannabis cultivation, more specifically, those with regards to hemp cultivation in several countries or regions on account of their low Tetrahydrocannabinol (THC) content, is also a factor that is expected to compliment market growth of this global industry in the coming years.

Furthermore, the demand for hemp and its extracts from various industries such as cosmetics, pharmaceuticals, nutraceuticals, F&B, etc., in several countries like Canada, China, Chile, France, Ecuador, Croatia, South Korea, Romania, Russia, Czech Republic, etc., is gradually increasing on account the same aforementioned reason, is another factor that is slated to have a profound impact on the revenue growth of the global cannabis cultivation market over the next 10 years.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have been either temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global cannabis cultivation industry is no different, and this factor is expected to negatively impact on market growth in the years to come. Moreover, with the upcoming US elections, certain candidates have suggested that their respective party would amend the existing laws surrounding the cannabis cultivation industry which could detrimentally affect small and medium-sized businesses involved in this industry. This factor could potentially restrain the market growth of the global cannabis cultivation industry in the coming years.

Nonetheless, the increasing efforts by industry players and governing organizations to ensure better transparency and adherence to nation-specific laws in the coming years is a factor that is expected to increase trust levels concerning this sector, and subsequently improve its revenue growth opportunities in the process.

Segmentation of the global cannabis cultivation market is as follows:

In terms of biomass, the hemp segment accounted for the maximum number of revenue shares of the global cannabis cultivation market in 2020, and is indicative of continuing to do so in the years to come. This can be attributed to the increasing adoption and acceptance of hemp and other related products due to their low THC content. However, the marijuana segment is also slated to index the fastest rate of revenue growth over the forecast period, due to its increasing legalization across various countries in the world.

On the basis of application, the industrial consumption segment constituted the majority number of revenue shares of the global cannabis cultivation market in 2020, due to the increasing adoption of cannabis for various applications in industries as pharmaceutical, cosmetic, F&B, etc. However, the medical consumption segment is slated to register the highest CAGR over the forecast period, on account of the increasing use of marijuana for medical purposes such as the treatment of diseases such as cancer, chronic pain, mental disorders, etc.

Regional Segmentation and Analysis:

The markets in the Asia Pacific region accounted for the highest number of revenue shares of the global cannabis cultivation market in 2020, and is slated to continue to do so over the forecast period.  This can be attributed to the presence of vast cultivation players, as well as patient pool in this region. The markets in the Middle East & Africa are also anticipated to register high revenue growth over the next 10 years.

Segmentation of the Global Cannabis Cultivation Market:

Segmentation by Biomass:

• Hemp
• Marijuana

Segmentation by Application:

• Medical Consumption
• Recreational Consumption
• Industrial Consumption

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA