At CAGR 8.1% Globally Cannabis Cultivation Market Growth

NEW YORK – As per the findings of Zion Market Research study, Cannabis Cultivation industry garnered profits worth US$ 147.3 billion in 2020 and is set to amass revenue of approximately US$ 359.6 billion by 2028. Moreover, Cannabis Cultivation market is expected to register a CAGR of approximately 8.1% in 2021-2028. Growth of cannabis cultivation market over assessment period can be credited to legalization of cannabis for treating chronic ailments as well as provide relief from pain to patients suffering from these diseases. In addition to this, liberalization of laws pertaining to cannabis cultivation will provide new growth avenues for cannabis cultivation market. Apparently, rise in demand for hemp derivatives across food & beverages, pharmaceuticals, cosmetics, and nutraceuticals will drive growth of cannabis cultivation market in upcoming years. Additionally, legalization of cannabis in countries such as the U.S., Uruguay, and Canada will promulgate scope of growth of cannabis cultivation market in near future.

Zion Market Research published the latest report titled as “Cannabis Cultivation Market- By Biomass (Hemp and Marijuana), By Application (Medical Consumption And Recreational Consumption), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” into their research database.

Cannabis Cultivation Market: Overview

Legalization of cannabis cultivation along with acceptance of cannabis therapy for treating chronic ailments will drive growth of cannabis cultivation market. Cultivation of cannabis is gaining popularity owing to its wide application in nutraceuticals, personal care & cosmetics, and food & beverages. Moreover, liberalization of legislations pertaining to cultivation of cannabis in some of the developed countries will contribute majorly towards business landscape. Large-scale acceptance of cannabis for medicinal use will prop up demand for cannabis cultivation in coming years.

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Industry Dynamics:

Cannabis Cultivation Market: Growth Drivers

Surge in acceptance of cannabis for treating chronic disorders will culminate into humungous growth of cannabis cultivation market. Furthermore, escalating demand for pain-relieving medicines from pharmaceutical industry is likely to result into massive growth in size of cannabis cultivation market. In addition to this, liberalization of laws pertaining to marijuana & hemp will bolster expansion of cannabis cultivation industry over ensuing years. Large-scale use of cannabis in pharmaceuticals, cosmetics, and personal care industries will create new growth avenues for cannabis cultivation market in upcoming years. Apart from this, rise in utilization of hemp & marijuana in food & beverages and nutraceuticals will steer industry growth.

Furthermore, growing use of cannabis & derivatives as raw materials by firms will proliferate expansion of cannabis cultivation industry over upcoming years. Rise in use of marijuana for medicinal purpose and treating myriad health conditions including cancer, chronic pain, and mental disorders will steer industry expansion over forecasting years.

List of Key Players of Cannabis Cultivation Market:

• Canopy Growth Corporation
• The Cronos Group
• The Hydropothecary Corp.
• Aphria Inc.
• Organigram Holding Inc.
• Aurora Cannabis Inc.
• CannTrust Holdings
• Tilray
• Pacific Cannabis Growers Inc.
• Better Holdings LTD
• Atlas Growers Ltd.

Key Industry Insights & Finding of the Cannabis Cultivation Market Reports:

• As per the analysis shared by our research analyst, the Cannabis Cultivation Market is expected to grow annually at a CAGR of around 8.1% (2021-2028).
• Through the primary research, it was established that the Cannabis Cultivation Market was valued approximately USD 147.3 billion in 2021 and is projected to reach to roughly USD 359.6 billion by 2028.

Key questions answered in this report:

• What are the growth rate forecast and market size for Cannabis Cultivation Market?
• What are the key driving factors propelling the Cannabis Cultivation Market forward?
• What are the most important companies in the Cannabis Cultivation Market Industry?
• What segments does the Cannabis Cultivation Market cover?
• How can I receive a free copy of the Cannabis Cultivation Market sample report and company profiles?

Regional Dominance:

North America To Make Notable Contributions Towards Global Cannabis Cultivation Market Share By 2028  

Growth of regional market over forecast timespan is subject to liberalization of laws related to use of cannabis in many of states of the U.S. and also government support for use of cannabis for medicinal purpose in Canada. In addition to this, increase in number of product approvals in countries such as Canada and the U.S. will promulgate growth of cannabis cultivation market in region. 

Global Cannabis Cultivation Market is segmented as follows:

Cannabis Cultivation Market: By Biomass Outlook (2021-2028)

• Hemp
• Marijuana

Cannabis Cultivation Market: By Application Outlook (2021-2028)

• Medical Consumption
• Recreational Consumption

Cannabis Cultivation Market: By Region Outlook (2021-2028)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

Browse Other Related Research Reports from Zion Market Research

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• Healthcare Regulatory Affairs Outsourcing Market: The global Healthcare Regulatory Affairs Outsourcing Market accrued earnings worth approximately 5.23 (USD Billion) in 2020 and is predicted to gain revenue of about 12.14 (USD Billion) by 2028, is set to record a CAGR of nearly 11.7% over the period from 2021 to 2028.
• Legal Marijuana Market: The global Legal Marijuana Market accrued earnings worth approximately 10.1 (USD Billion) in 2020 and is predicted to gain revenue of about 70.7(USD Billion) by 2028, is set to record a CAGR of nearly 27.1% over the period from 2021 to 2028.

(This information is primarily sourced from Zion Market Research.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).