According to the most recent analysis by Emergen Research, the cannabis cultivation market had a value of USD 322.50 billion in 2021 and is projected to grow at a rate of 21.9% during the forecast period. The market is expanding as a result of growing cannabis legalisation around the world and rising consumer demand for products flavoured with hemp. Hemp-based beverages, sweets, and chocolates are still in high demand on the market. The euphoric “high” from such edibles takes one to two hours to begin, but it lasts longer than when smoke or vapour is consumed. Due to advancements in scientific research and business innovation, the drawbacks of edibles, such as the unpredictable effects of marijuana after consumption, are beginning to be solved.
The Global Cannabis Cultivation market drivers and restraints Market report provides vital information that prepares market players to give fierce competition to their toughest competitors based on growth, sales, and revenue, among other essential factors. The study has been conducted on the basis of inputs from the industry leaders. Thus, a conscious effort to dive deep and unearth hard to find information pertaining to the growing market landscape and growth prospects over the next few years is clearly visible in the study. The market intelligence report further comprises of discussions about the major vendors operating in the Cannabis Cultivation market drivers and restraints space
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Some major companies operating in the market include Tilray, Atlas Growers, Canopy Growth Corporation, Aurora Cannabis, Better Holdings, Jazz Pharmaceuticals, Lexaria Corp., Cronos Group Inc., Vivo Cannabis Inc., and OrganiGram Holdings.
Highlights of the Cannabis Cultivation Market Report
- Due to the increasing legalisation and use of hemp and marijuana for the treatment of chronic ailments, the industry is expected to experience significant expansion.
- Due to growing consumer demand and the low THC concentration of hemp and its derivative products, the hemp category dominated the market in 2021.
- Due to the increasing use of marijuana and hemp in numerous industries, the industrial consumption category took the lead in the market in 2021.
- Aurora Cannabis Inc. completed the acquisition of TerraFarma Inc. in May 2022, which will strengthen their Canadian recreational cannabis business and Aurora's global cannabis industry experience.
- Two leaders in the Canadian cannabis industry, HEXO and Tilray Brands, collaborate to form a strategic alliance in March 2022.
- As part of its strategy for ongoing growth, the company acquired Laurentian Holdings Inc. in December 2021, expanding its reach into the second-most populous province of Quebec.
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Emergen Research has segmented the Cannabis Cultivation market based on type, application, and region:
- 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
- North America
About Emergen Research
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 analyze 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 trend’s 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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