CBD Plant Nutrients Market Worth USD 4857.8 Million by 2030 at 48.46% CAGR
New York, US – CBD Plant Nutrients Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “CBD Plant Nutrients Market Information by Type, Category, Form, Mode of Application, and Region- Forecast till 2030”, the market is estimated to acquire a size of over 4857.8 Million by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 48.46% during the review timeframe.
Cannabis plants are sensitive to nutrition, and there is a narrow line between feeding them properly and destroying them with toxins. CBD plant nutrients are important macro- and micronutrients for a plant’s healthy growth and excellent output. These nutrients enhance the plant’s overall development. The basic nutrients are nitrogen, phosphorus, and potassium, and the secondary nutrients are calcium and sulphur. Included among the micronutrients are zinc, boron, and iron. The pharmaceutical industry uses these CBD plants to treat chronic diseases. Even these nutrients are utilized within the cosmetics industry.
|2030 Market Size||USD 4857.8 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Category, Mode of Application, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Legalization Of Cannabinoid (CBD) In Several Countries Across The Globe|
|Increasing Application Of Cannabinoid (CBD) In The Medical Industry|
The major market players are
- EuroChem Group
- Sociedad Química y Minera de Chile
- Nutrien Ltd.
- CF Industries Holdings, Inc.
- ZuariAgroChemicals Ltd.
- Haifa Chemicals Ltd.
- The Mosaic Company
- Israel Chemicals Limited
- Yara International ASA
Due to CBD’s legality in the majority of nations, the global CBD plant nutrients market is expanding at a rapid rate. Consequently, the demand for CBD nutrition has expanded significantly in recent years. The nutritional needs of CBD are comparable to those of maize, with a significant demand for nitrogen and potassium at various phases of their life cycle. This has increased the need for these nutrients among cannabis farmers. Farmers, hemp growers, and producers’ evolving perspective on hemp nutrition is the market’s primary driver. CBD’s inclusion in commercial, industrial, and animal feed will benefit the market.
CBD plant nutrients are in high demand in the pharmaceutical business due to their demonstrated efficacy in the treatment of multiple chronic conditions. Additionally, they are being used in the cosmetics business. The legalization of hemp production in the majority of the world’s nations is anticipated to assist to the expansion of the global market. In addition, ongoing research on cannabinoids and the improvement of cannabis’s standing in Asian nations are anticipated to offer attractive growth chances for CBD cultivators.
In recent years, the demand for CBD nutrition has expanded dramatically. CBD’s nutritional requirements are comparable to those of corn, having a strong demand for nitrogen and potassium at various phases of its life cycle. However, the growth of the worldwide CBD plant nutrients market is mostly attributable to CBD’s support in the majority of countries. This has increased the need for these nutrients among cannabis farmers. In addition, the continued research and development on cannabinoids, as well as the rising status of cannabis in Asian countries, have created new prospects for market participants. accumulating data suggests that macro and micronutrients are involved in secondary metabolism. Utilizing the proper nutritional measures, such as organic fertilizers, vitamins, and biostimulants, is a crucial part of cannabis plant cultivation.
On the other hand, tight laws regarding the manufacture of CBD by synthetic methods are anticipated to inhibit the future expansion of the global market. Due to legal restrictions on cannabis research, little is known about the impact of nutritional supplements on the physiological and chemical features of cannabis and their possible function in standardizing the active chemicals in the plant material delivered to patients.
Due to the COVID outbreak, the demand for nutrients has skyrocketed. The high demand for CBD and its use in the pharmaceutical industry prompted the manufacture of CBD plant nutrients. As this is utilized to treat chronic illness, there was a need for the nutrient to treat the illness. But the lockdown limits and transportation blockage sparked the pharmaceutical company’s demand. This demand in the CBD industry has increased the market value of CBD plant nutrients.
In 2018, the segment for macronutrients held the biggest market share by Type. At each stage of CBD plant development, macronutrients are essential. However, various phases require different NPK ratio combinations. Hemp’s high growth and yield requirements for nitrogen and potassium are the primary driver for macronutrients. Nevertheless, the micronutrients segment is anticipated to exhibit a greater CAGR over the projection period. Increasing knowledge of the benefits of micronutrients on yield is anticipated to contribute to the segment’s growth.
In 2018, the conventional segment held the biggest market share by category due to conventional agricultural methods. However, the organic segment is anticipated to have a higher CAGR due to the growing demand for organic food and products.
By Mode of Application
In 2018, the segment of drenching had the biggest market share. Due to the short stems of the CBD plant, this technique is employed to feed nutrients directly to the stem’s base. Farmers’ increasing awareness of the benefits of foliar application has led to the expansion of this market segment. Consequently, the category is anticipated to record the greatest CAGR over the projection period.
During the forecast period, the Asia-Pacific CBD plant nutrients market is anticipated to be the largest geographically. In 2018, the region represented 40.44 percent of the worldwide market share. China, Australia, and New Zealand are among the leading market growth drivers.
The CBD plant nutrients market in North America represents a notable part of the worldwide market and is anticipated to grow at a significant CAGR during the forecast period. It is anticipated that Canada would hold the largest market share over the projection period. In addition, its widespread use has prompted hemp industry executives to expand their facilities for cultivating hemp buds.
(This information is primarily sourced from Market Research Future. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).
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