Cannabis Cultivation Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028

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Cannabis Cultivation Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028

Status : September, 2020 | Pharmaceutical | PPT format

Report Digest


Global Cannabis Cultivation Market: Overview 

Since Uruguay became the first country to legalize Marijuana in 2013, many others like Canada have followed suit. Still others who haven’t yet legalized it, like Netherlands and Portugal, are moving to a much relaxed framework. Denmark for instance, has allowed limited sales of low-strength cannabis through cafes and in Poland, people can now buy it for medical purpose through few pharmacies. All this along with a growing demand for the product across age groups for either medical or recreational purposes is leading to a stellar CAGR (Compound Annual Growth Rate) for the global cannabis cultivation market over the forecast period of 2018 to 2028. 

There is also a growing celebrity endorsement, like that by Laganja Estranja that is boosting demand for cannabis further. Even influencers like Rachel Brathen, who have a 2.1 mn follower base, are not behind in promoting CBD oil and related products on social media, generating demand among followers. 

Global Cannabis Cultivation Market: Notable Development 

  • This year, TruTrace Technologies Inc. partnered with Deloitte to launch ‘StrainSecure’, a product that can track cannabis from production to sale, providing consumers and retailers with accurate history of the product. In June, TruTrace also partnered with the Canadian Pharmacy, Shoppers Drug Mart, to track strains of medical cannabis. This would help physicians to write better prescriptions. The pilot is not yet done but with move, the company has expanded its presence beyond recreational, to medical use market.
  • University of Guelph has created a study programme that teaches growing superior cannabis. It aims at both home growers and commercial cultivation. The course that starts in September 2019 is already booked full. Another course starts from January 2020. It explains how strong is the foothold of the cannabis cultivation market – its demand and the quality of effort that is going towards making the global cannabis cultivation market a success on the coming period. This is also a sign of increase in competition in the future 

The market is fragmented and with an increase in new players joining in the landscape, it expected to be more fragmented. 

Prominent players in the global Cannabis Cultivation Market are: 

  • Sativa, Inc.
  • GW Pharmaceuticals plc.
  • Maricann, Inc.
  • Aurora Cannabis
  • Aphria, Inc.
  • Canopy Growth Corporation 

Global Cannabis Cultivation Market:  Key trends and driver 

The growth in global cannabis cultivation market is fuelled by a number of trends and drivers. Some of the key ones are elaborated below. 

  • Use of pot by people in diseases like cancer and major injuries is leading to growth in demand in the global cannabis cultivation market.  The Food and Drug administration has approved it for treatment of two rare and severe forms of epilepsy - Dravet syndrome and Lennox-Gastaut syndrome. To add on, in a recent study – The Health Effects of Cannabis and Cannabinoids – by National Academics of Sciences, Engineering, and Medicine,  researchers have found a positive correlation of cannabis with many conditions such as dementia. In another research - “In vivo Evidence for Therapeutic Properties of Cannabidiol for Alzheimer’s Disease,” by Georgia Watt and Tim Karl -  a relation between the product and treatment of Alzheimer’s is established. 
  • As pot tourism is catching on with people, so is demand for high quality cannabis, leading to an upward growth in the Global Cannabis Cultivation Market. States such as Colorado and Washington are seeing rise in the trend by as much as 51% since 2014. In 2016 alone, Colorado registered four million visitors (approximately). Canada is also witnessing a steady increase in pot tourism. 

Global Cannabis Cultivation Market:  Regional Analysis 

North America is set to demonstrate remarkable growth in the Global Cannabis Cultivation market owing to the presence of two of the largest legalized markets (Canada and United States of America). Another factor contributing here is presence of major businesses such as Canopy Growth Corporation. The Ontario-based business tripled cultivation in 2018 and is set to increase it to 5 mn sq. ft. by beginning of 2020. 

Global Cannabis Cultivation Market is segmented based on: 

Product Outlook

  • Buds
  • Oils
  • Tinctures

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?