Cannabis Growing Market Scope
A group of flowering plants in the Cannabaceae family are referred to as cannabis. More than 100 cannabinoids can be found in all cannabis species, which are many. Throughout the body, cannabinoid receptors are found in cannabinoid-binding substances called cannabinoids. These substances may have a variety of effects, including euphoria and the easing of pain. Since marijuana use has been mostly prohibited in many places, it has become a contentious issue all over the United States. Currently, it is allowed, approved for medical use, or decriminalized in a number of states, however it is still completely outlawed in eight states. As a Schedule I medication with a high potential for abuse, it continues to be categorized by the federal government as having no accepted medicinal purpose.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Canopy Growth Corporation (Canada), Ultra Health (United States), Mammoth Farms (United States), Palo Verde Center (United States), Hexo Corp (Canada), Village Farms International Inc. (Canada), Aurora Europe GmbH. (Germany), Bright Green Corporation (United Kingdom), Copperstate Farms (United States) and FlowerOne (United States) |
CAGR | % |
The market for Cannabis Growing is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Cannabis Growing market throughout the predicted period.
Canopy Growth Corporation (Canada), Ultra Health (United States), Mammoth Farms (United States), Palo Verde Center (United States), Hexo Corp (Canada), Village Farms International Inc. (Canada), Aurora Europe GmbH. (Germany), Bright Green Corporation (United Kingdom), Copperstate Farms (United States) and FlowerOne (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Los Suenos Farms (United States), Canna (Canada) and Solaris Farms (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Cannabis Growing market by Type , by Application (Medical and Recreational) and Region with country level break-up.
On the basis of geography, the market of Cannabis Growing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
On 02 March 2021 - Canopy Growth (Leading Diversified Cannabis, Hemp, and Vaporization Device Company) Launched CBD Beverage Brand Quatreau in the US Market. The New Quatreau Is a Line of Premium Ready-To-Drink CBD-Infused Sparkling Water That Was Created to Address the Changing CBD Market Dynamics in The United States.
On 30 September, 2022.The New Jersey Cannabis Regulatory Commission has submitted updated rules for the state’s personal-use cannabis market for public comment. New Jersey residents are being invited to give their feedback on the proposed rules up on September 30, 2022. The rules, which amend the initial regulations adopted by the NJ-CRC in August 2021, establish licensing instructions for cannabis wholesale, distribution, and delivery businesses. They also clarify the working space for microbusinesses to exclude the square footage of bathrooms, enshrine the adopted Universal Symbol, and simplifiy labeling requirements for cannabinoids to ensure consumers can make informed choices.
Cannabis Growing Market Dynamics:
Attributes | Details |
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Trends Influencing Market | - High Investment In Cannabis R&D
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Key Restraints | - High Cost And Government’s Stringent Regulations Or Ban In Some Countries Can Hamper The Market Growth
- Complex Regulatory Structure For The Usage Of Cannabis
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Challenges | - Increasing Health Risks Due To Over consumption Of Cannabis Product
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Market Opportunities | - Growth Across Medicinal Cannabis Sales
- Rise In Adoption Of Cannabis In Healthcare Sector
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Key Target Audience
New Entrants and Investors, Legalized Cannabis Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others