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The cannabis cultivation market is set to grow by 15%

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LONDON, Oct 20, 2022 (The Globe Newswire) – According to Research report of a business research company about cannabis cultivation MarketThe adoption of cannabis for the treatment of chronic diseases is expected to drive the growth of the cannabis cultivation market in the future. Chronic illness refers to a medical condition that lasts for a year or more and requires ongoing medical care and restriction of daily activities. Certification of cannabis for the treatment of chronic diseases helps the cultivation of cannabis by demonstrating safety, efficacy, and sufficient consistency for regulatory approval in spastic conditions in chronic diseases such as multiple sclerosis, Dravet syndromes, and Lennox-Gastaut. For example, in March 2022, according to data published in the annual report of Jazz Pharmaceuticals plc, an Ireland-based biopharmaceutical company, the company generated a net sale of $463.6 million for Epidiolex, in 2021, on an annualized basis. Sales growth of 29% compared to the previous year, i.e. 2020. Therefore, the adoption of cannabis for the treatment of chronic diseases is driving the cannabis cultivation market.

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Global hemp cultivation market size It is expected to grow from $114.66 billion in 2021 to $132.55 billion in 2022 compound annual growth rate (CAGR) of 15.6%. The Russian-Ukrainian war has disrupted the global economy’s recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries led to economic sanctions on many countries, soaring commodity prices, and disruption of the supply chain, affecting many markets around the world. The cannabis cultivation market is expected to grow to $235.74 billion in 2026 compound annual growth rate (CAGR) 15.5%.

Product innovations are a major trend gaining popularity in the cannabis cultivation market. Major companies operating in the cannabis cultivation market focus on developing innovative products to strengthen their position in the cannabis cultivation market. For example, in January 2022 Prospiant, a US-based Greenhouse Solutions (CEA) company and provider of cannabis cultivation and extraction technologies, launched Delta Ethanol Extraction CUP-5 to meet prototype requirements for laboratories, educational research centers and facilities Small scale cannabis production. During the cannabis cultivation process, it can handle plant material in small batches of up to 3.5 pounds and finish the extraction process in 2 to 12 minutes. It combines mechanical centrifugation and closed-loop cold alcohol extraction technology to produce a high purity end product. Its innovative features also include the ability to operate without a C1D2 environment or Hazardous Site Requirements (HazLoc).

The major players in the market are Pacific Cannabis Growers Inc, Atlas Growers, 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 and ABcann Inc. Medicinals, GW Pharmaceuticals plc, and Vivo Cannabis Inc.

Global cannabis cultivation market Analytics Divided by type into cannabis, hemp, cannabis sativa; by source to flower, bud, leaf or other sources; Through the applied view in medical consumption, recreational consumption and industrial consumption.

Asia Pacific It was largest area in the hemp cultivation market in 2021. The regions covered in the hemp cultivation market research report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.

Global Cannabis Cultivation Market Report 2022 – Market Size, Trends and Global Forecast 2022-2026 It is one of a series of new reports from business research company which provides cannabis cultivation market size and growth forecasts, cannabis cultivation market segments and geographies, cannabis cultivation market trends, cannabis cultivation market drivers and restraints, leading competitors revenue, profiles, market shares in over 1000 industry reports, covering over 2500 market segments and 60 geographical regions.

The report also provides an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 data sets, extensive secondary research, and exclusive insights from interviews with industry leaders.

A team of highly experienced and expert analysts and designers provides market analysis and forecasts. The reports identify top countries and divisions for opportunities and strategies based on market trends and the approaches of leading competitors.

Not the market you are looking for? Check out some similar market information reports:

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