About Cannabis Plant Nutrients
Cannabis, also known as marijuana, is used in various medical applications. The nutrients of the cannabis plant include essential nutrients such as carbohydrates, protein, fat, water, vitamins, minerals, trace amounts of calcium, sodium, etc., which help with the growth and development of cannabis plants. Advances in agricultural technology and the development of innovative nutrient formulations contribute to the growth of the market. Growers may adopt new technologies and products that promise improved efficiency and higher yields; this may have accelerated the growth of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Market conditions can change rapidly, and analysing the strategies, product offerings, and market positioning of key players can provide valuable insights into the dynamics of competition within the industry. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CF Industries Holdings, Inc. (United States), Nutrien Ltd. (Canada), Advanced Nutrients (United States), EuroChem Group (Switzerland), Zuari Agro Chemicals LT (India), General Hydroponics (United States), PhosAgro Group of Companies (Russia), Haifa Negev technologies LTD (Israel), Mosaic (United States), ICL (Israel), Yara (Norway), Dyna-Gro (United States), K+S Aktiengesellschaft (Germany), AURORA CANNABIS INC (Canada) and Hydrofarm (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Cannabis Plant Nutrients market by , Application (Soil drenching, Foliar feeding, Hydroponics and Others) and Region.
On the basis of geography, the market of Cannabis Plant Nutrients 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). If we see Market by Category, the sub-segment i.e. Conventional will boost the Cannabis Plant Nutrients market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Nutrient Type, the sub-segment i.e. Macronutrients (Phosphorus, Potassium, Others) will boost the Cannabis Plant Nutrients market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing demand for organic and sustainable nutrients.
Market Growth Drivers:
The increasing legalization of cannabis for medical use in various countries is opening up a vast new market for cultivators.
Challenges:
Achieving consistent and standardized nutrient formulations can be challenging
Restraints:
Lack of comprehensive research in cannabis industry
Opportunities:
Develop specialized nutrient formulations tailored to different stages of the cannabis plant's life cycle
Market Leaders and their expansionary development strategies
In May 2021, Hydrofarm Holdings Group, Inc. acquired of Field 16, LLC, the acquisition enhances robust portfolio of high-performance, innovative and proprietary branded products in the lighting, climate control, nutrients and growing media categories.
In February 2023, Aurora Cannabis Inc. and Med ReLeaf launched of CraftPlant, a new medical cannabis brand for patients. The new launch is developed from ultra-premium cultivars and are THC-dominant with high percentages of terpenes.
The regulation Good Production Practices of the Cannabis and Regulations SOR/2018-144 If the product is manufactured in accordance with the European Union GMP standard, the required evidence is both a Certificate of Good Manufacturing Practice issued to the manufacturer of the product by a licensing authority of one of the EU member states and written confirmation from Health Canada that the manufacturing site operates.
Key Target Audience
Supplier, Manufacturer, Research organization, Government Regulatory, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.