Dublin, Dec. 03, 2020 (GLOBE NEWSWIRE) -- The "Cannabis Cultivation Market Size, Share & Trends Analysis Report by Biomass (Hemp, Marijuana), by Application (Medical Consumption, Recreational Consumption), by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global cannabis cultivation market size is expected to reach USD 358.8 billion by 2027, expanding at a CAGR of 14.3% from 2020 to 2027.
Growing legalization and adoption of cannabis for the treatment of chronic diseases is positively impacting the market growth. Furthermore, the liberalization of laws related to hemp and marijuana by various countries is further bolstering revenue growth over the forecast period.
Based on biomass, the hemp segment dominated the market in 2019. Factors contributing to increase in demand include increasing adoption of hemp and derived products and its growing acceptance among the users due to its low THC content. It is mainly used by people who intend to reap the medical benefits of the plant without getting intoxicated. In addition, positive government reforms regarding the utilization of hemp in many countries is further propelling the market growth.
In 2019, the industrial consumption segment accounted for the highest revenue share. This growth is attributed to the growing application of marijuana and hemp in various industries such as pharmaceuticals, personal care and cosmetics, nutraceuticals, and food and beverages. In addition, the growing usage of cannabis and its derivatives as raw material by companies to produce their products is further fueling the growth. For instance, CBD oil and tinctures obtained from the plant are used by pharmaceutical companies for the production of cannabis-infused drugs. Hence, its consumption for various applications boosts the overall growth of the market.
The Asia Pacific dominated the market with a revenue share of 41.2% in 2019 owing to the presence of the largest cultivation markets in the region such as China, South Korea, India, and Australia. Furthermore, favorable climatic conditions, increasing awareness about the plant and its medical benefits, and growing patient pool eligible for medical marijuana treatments are the other factors boosting the growth of the market in the region.
Cannabis Cultivation Market Report Highlights
The market is anticipated to witness significant growth owing to the growing legalization and adoption of the hemp and marijuana for the treatment of chronic diseases
The hemp segment dominated the market in 2019, owing to the increasing adoption of hemp and derived products due to low THC content
Industrial consumption segment dominated the market in 2019, owing to the growing application of marijuana and hemp in various industries
The Asia Pacific dominated the market with a revenue share of 41.2% in 2019, owing to the presence of the largest hemp cultivation markets in the region such as China, South Korea, India, and Australia.
Key Topics Covered:
Chapter 1 Research Methodology
Chapter 2 Executive Summary
Chapter 3 Global Cannabis Cultivation Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Penetration & Growth Prospects Mapping
3.2.1 Market Driver Analysis
220.127.116.11 Growing legalization of cannabis in various countries
18.104.22.168 Increasing demand of cannabis driving cannabis cultivation across the globe
22.214.171.124 Growing legalization of medical cannabis in various countries
3.2.2 Market Restraints Analysis
126.96.36.199 Legalization of medical cannabis only for selected indications
188.8.131.52 Supply shortage of medical cannabis in various countries
3.2.3 Market Challenges
184.108.40.206 Illicit cananbis trade
220.127.116.11 The widening demand and supply gap
3.3 Global Cannabis Cultivation Regulatory Scenario, by country
3.3.1 The U.S.
18.104.22.168 Regulatory Bodies Involved
3.3.3 The U.K.
3.3.6 The Netherlands
3.3.7 Czech Republic
3.3.13 New Zealand
3.3.16 South Korea
3.3.24 South Africa
3.4 Global Cannabis Cultivation Market - PESTLE Analysis
3.5 Industry Analysis - Porter's
3.6 Opportunity Analysis (2016-2020-2027)
3.7 Producer/Cultivator Selling Price Analysis, 2019 and Future Trends
Chapter 4 Cannabis Cultivation Market: Biomass Estimates & Trend Analysis
4.1 Cannabis Cultivation Market: Biomass Movement Analysis
4.2 Cannabis Cultivation Market: Biomass Analysis
22.214.171.124 Hemp Market Estimates and Forecasts, 2016 - 2027 (USD Million)
Chapter 5 Cannabis Cultivation Market: Application Estimates & Trend Analysis
5.1 Cannabis Cultivation Market: Application Movement Analysis
5.2 Cannabis Cultivation Market: Application Analysis
5.2.1 Recreational Consumption
126.96.36.199 Recreational Consumption Market Estimates and Forecasts, 2016 - 2027 (USD Million)
5.2.2 Medical Consumption
5.2.3 Industrial Consumption
Chapter 6 Cannabis Cultivation Market: Regional Estimates & Trend Analysis, by Biomass Type & Application
6.1 Global Cannabis Cultivation Market Share, By Region, 2019 & 2027
Chapter 7 Competitive Landscape
7.1 Company overview
7.2 Strategic Initiatives
7.3 Financial performance
Pacific Cannabis Growers, Inc.
Canntrust Holdings, Inc.
The Hydropothecary Corporation
Canopy Growth Corporation
Organigram Holdings Inc.
The Cronos Group
For more information about this report visit https://www.researchandmarkets.com/r/i76yzu
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