Cannabis Cultivation Market Industry 2020 Includes The Major Application Segments And Size In The Global Market To 2027

By Author: Himanshi Arya
Total Articles: 68
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The global cannabis cultivation market is anticipated to expand at substantial CAGR during the forecast period, between 2020 and 2027. Rise in the adoption of cannabis for the treatment of several diseases has led to the rise in the cannabis cultivation. Legalization of cannabis in several countries is fueling cannabis cultivation. Cannabis is cultivated for the manufacturing of cannabis-based products. Cannabidiol (CBD) levels are analyzed in the cannabis-based products, which has led to the use of cannabis in several industries including cosmetics, pharmaceuticals, food &beverages, and nutraceuticals. Rising demand for cannabis for recreational and medicinal purposes drives the growth of the market.

Market Trends, Drivers, Restraints and Opportunities
• Increase in the adoption of marijuana for medical purposes is driving the cannabis cultivation market.
• Rise in investments in research & development of cannabis compounds is fueling the market.
• Implementation of rigid regulations on the cultivation of cannabis is expected to hamper the market.

Scope of the Report
The ...
... report on the global cannabis cultivation market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

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Cannabis Cultivation Market Segment Insights:
The marijuana segment to hold significant market share
Based on product types, the cannabis cultivation market can be segmented into hemp and marijuana. The marijuana segment is projected to grow at a significant pace during the forecast period owing to the increasing medicinal applications of marijuana and rising legalization of cannabis. Marijuana is used to provide relief to cancer patients. Conversely, the hemp segment is anticipated to expand at a significant CAGR between 2020 and 2027.The growth of this segment is attributed to the increase in consumption of hemp-based products owing to its several health benefits and the use of hemp-based products for providing relief during the treatment of diseases such as epilepsy and sleeping disorders.

The industrial consumption segment is expected to grow at a rapid pace
In the terms of applications, the market can be divided into medicinal consumption, recreational consumption, and industrial consumption. The industrial consumption segment is projected to grow at a significant pace during the forecast period due to rising use of marijuana and hemp in several industries, including pharmaceuticals, personal care & cosmetics, nutraceuticals, and food &beverages. Growing use of cannabis-based products and its derivatives as raw materials by companies to produce innovative cannabis-infused products is expected to propel the segment growth.

North America dominates the global market
On the basis of regions, the global cannabis cultivation market can be categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a considerable share of the global market. The USis expected to constitute a significant share of the market during the forecast period. Legalization of cannabis for medicinal use in the US and Canada drives the cannabis cultivation market in the country.

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