Market Research Report
Global Cannabis Cultivation Market Size study by Biomass (Hemp and Marijuana), by Application (Medical Consumption, Recreational Consumption and Industrial Consumption), and Regional Forecasts 2021-2027
|Published by||Bizwit Research & Consulting LLP||Product code||1019279|
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|Global Cannabis Cultivation Market Size study by Biomass (Hemp and Marijuana), by Application (Medical Consumption, Recreational Consumption and Industrial Consumption), and Regional Forecasts 2021-2027|
|Published: July 17, 2021||Content info:||
Global Cannabis Cultivation Market is valued approximately at USD 141.62 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 14.5% over the forecast period 2021-2027. Cannabis plants have psychoactive properties, each part of the plant (seed, dried leaves and other parts) are useful and generally used for medicinal and recreational purposes. Growing trend of legalizing cultivation and processing of hemp in various countries is growing the application of cannabis in various products such as pharmaceuticals. Growing legalization and adoption of cannabis for the treatment of chronic disease, rising use of cannabis in pharmaceuticals, nutraceuticals, food and beverages and cosmetics and rising cultivation area for cannabis is growing the market of cannabis worldwide. For instance, in June 2021, governor of Connecticut (United States), signed a legislation for legalizing the adult-use of cannabis in Connecticut. The law includes provisions such as, possession of cannabis among adults age 21 and over will be legal in Connecticut from July 1, 2021, from October 2021, patients participating in Connecticut's medical marijuana program will be permitted to cultivate up to six cannabis plants and others. Furthermore, rising prevalence of chronic diseases such as cancer, diabetes and others are expected to fuel the demand for cannabis in pharmaceuticals market. For instance, according to American Cancer Society, the number of new cancer cases in United States was 1,762,450 which was expected to reach 1.8 million in 2020. However, demand and supply gap and legalizing medical cannabis for only selected indications may hamper the growth during forecast period.
Among Asia Pacific, North America, Europe, Latin America, and Rest of the World, Asia Pacific is the dominating region across the world in terms of revenue and is also expected to grow at a fastest pace during forecast period due to rising awareness about cannabis, growing patient pool for the marijuana treatment and its medical benefits coupled with suitable climatic condition in the region.
Major market player included in this report are:
Canopy Growth Corporation
The Cronos Group
Organigram Holdings, Inc.
Pacific Cannabis Growers
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Cannabis Cultivation Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
a. Market Snapshot
b. Market Snapshot
List of figures