Cannabis Cultivation Market Analysis: Opportunities and Challenges
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Increasing legalization of cannabis in various parts of the world is one of the key factors driving market revenue growth
VANCOUVER, BC, CANADA, May 9, 2023 /EINPresswire.com/ -- The cannabis cultivation market size was USD 322.50 Billion in 2021 and is expected to register a revenue CAGR of 21.9% during the forecast period, according to the latest analysis by Emergen Research. Increasing legalization of cannabis in various parts of the globe and rising demand for hemp-infused edibles are key factors driving growth of the market. The market continues to see strong demand for beverages, candies, and chocolates made from hemp. Such edibles take one to two hours to start producing a euphoric "high," but the impact lasts longer than when smoke or vapor is inhaled. The downsides of edibles, such as unpredictable effects of marijuana after intake, are starting to be resolved because of advances in scientific research and commercial innovation.
The latest market intelligence report broadly assesses this ever-evolving business sphere and simultaneously elaborates on the production and consumption aspects. The study analyzes numerous indispensable factors, including market growth drivers, opportunities, restraints, and challenges, which are presumed to impact the global market growth in the next few years. The SWOT and Porter’s Five Forces analyses performed in this report assist the reader in understanding the competitive hierarchy of the cannabis cultivation market. Furthermore, the latest document is furnished with the current market scenario impacted by the COVID-19 pandemic. It gradually unfolds the pandemic’s adverse economic effects on this business sector. The lethal viral outbreak has cost countless lives worldwide, alongside causing major disruptions to the global economy and this particular industry.
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Competitive Landscape
The report presents a holistic investigation of the Cannabis Cultivation business mechanism and growth-oriented approaches undertaken by the leading companies operating in this market. The report highlights the numerous strategic initiatives, such as new business deals and collaborations, mergers & acquisitions, joint ventures, product launches, and technological upgradation, implemented by the leading market contenders to set a firm foot in the market. Hence, this section is inclusive of the company profiles of the key players, total revenue accumulation, product sales, profit margins, product pricing, sales & distribution channels, and industry analysis.
Leading Players Profiled in the Report Include:
Tilray, Atlas Growers, Canopy Growth Corporation, Aurora Cannabis, Better Holdings, Jazz Pharmaceuticals, Lexaria Corp., Cronos Group Inc., Vivo Cannabis Inc. and OrganiGram Holdings
Some Key Highlights From the Report
The medical segment is expected to register a steady growth rate. THC, marijuana's primary psychoactive ingredient, slows progression of Alzheimer's disease. THC slows growth of amyloid plaques by blocking brain enzyme that causes them. Alzheimer's disease may develop as a result of these plaques harming brain tissue. Marijuana may be used to treat glaucoma, which gets worse as eye pressure increases and harms optic nerve and vision. According to the National Eye Institute, marijuana lowers intraocular pressure and helps to prevent negative neurological effects and muscle spasms caused by multiple sclerosis.
The Middle East & Africa market is expected to register a considerable growth. The area dominated cannabis cultivation business in terms of revenue share because of quickly evolving laws surrounding cannabis production, consumption, and economic development. Additionally, it is anticipated that growth would be fueled during the forecast period by region's expanding support for hemp and marijuana cultivation through governmental improvements.
In October 10, 2020, STADA Arzneimittel AG partnered with MediPharm Labs, one of the biggest pharmaceutical companies in Germany, to enter the medical cannabis market with debut of two flower products and subsequent release of six more.
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Segmentation
Type Outlook (Revenue, USD Billion; 2019–2030)
Cannabis Indica
Cannabis Sativa
Application Outlook (Revenue, USD Billion; 2019–2030)
Recreational
Medical
Industrial Hemp
Regional Outlook (Revenue, USD Billion; 2019–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
The global Cannabis Cultivation market is classified into the following regions:
North America (the U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (the U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
The Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
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Key Points Covered in This Section:
Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
Report Highlights:
Besides offering a vivid depiction of the global Cannabis Cultivation business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2030).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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