Cannabis Cultivation Market 2027 - Investigation by Application, Technology and Product type

Cannabis Cultivation Industry Overview

The global cannabis cultivation market size was valued at USD 123.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.3% from 2020 to 2027.

Growing legalization and the adoption of cannabis for the treatment of chronic diseases are the key factors driving the growth of the market. In addition, the liberalization of laws related to cannabis cultivation, especially for hemp cultivation by various countries due to low THC content is further increasing its adoption. Furthermore, the legalization of marijuana in various geographies and its increasing adoption for medical purposes are factors driving the market for cannabis cultivation. For instance, after the legalization of marijuana for medical purposes in Germany in 2017, there was a significant increase in the number of patients. According to the 2019 report published by Bank of Montreal, the number of patients post-legalization of medical marijuana in Germany increased from 1,000 to around 30,000-50,000.

In addition, the demand for hemp is rapidly growing, as many developed countries have legalized the cultivation and processing of hemp after recognizing the levels of CBD present in it, which is leading to an increased demand for hemp extracts for various application in several sectors, including pharmaceuticals, cosmetics, nutraceuticals, and food & beverage. Hemp is regarded as an agricultural commodity produced in over 40 countries. It is a strain of cannabis Sativa, part of the genus cannabis, with THC content as low as 0.3%. Countries such as China, Canada, France, Chile, South Korea, Ecuador, Croatia, Czech Republic, Mongolia, Romania, and Russia are some of the major producers of hemp across the world.

Gather more insights about the market drivers, restrains and growth of the Global Cannabis Cultivation Market

The U.S. cannabis cultivation market size

Although medical cannabis has been legalized in various countries, several countries have legalized it only for certain indications. For instance, in Croatia, the usage of marijuana is legal among patients suffering from AIDS, cancer, multiple sclerosis, and epilepsy. Moreover, in Queensland, Australia, medical marijuana can be only used for indications such as severe muscle spasms, chemotherapy-induced nausea & vomiting, and epilepsy with severe seizures & palliative care. This limited scope of application in several countries is likely to hinder market growth and limit the cultivation.

Moreover, the high demand for medical cannabis has led to a bottleneck in the supply chains in various countries. This is primarily due to a significant increase in demand and the cultivation restriction in various countries. For instance, lucrative markets such as Germany face a shortage of medicinal cannabis, which compels patients to pay high prices. According to the Bank of Montreal, in 2019, patients in Germany are paying higher average prices than Canadian patients, which has further restrained the growth of the market for cannabis cultivation.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

  • Nutraceuticals Market - The global nutraceuticals market size was valued at USD 454.55 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.0% from 2021 to 2030. The growing demand for dietary supplements and functional food is expected to be a key driving factor for the market over the forecast period.
  • Medical Marijuana Market - The global medical marijuana market size was valued at USD 11.4 billion in 2015 and is projected to grow with CAGR of 17.1% during the forecast period. The market is experiencing growth due to rising awareness regarding various medical applications such as pain management, appetite enhancement, and reducing eye pressure.

Cannabis Cultivation Market Segmentation 

Grand View Research has segmented the global cannabis cultivation market based on biomass, application, and region: 

  • Cannabis Cultivation Biomass Outlook (Revenue, USD Million, 2016 - 2027)
    • Hemp
    • Marijuana 
  • Cannabis Cultivation Application Outlook (Revenue, USD Million, 2016 - 2027)
    • Medical Consumption
    • Recreational Consumption
    • Industrial Consumption 
  • Cannabis Cultivation Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa 

Market Share Insights

  • December 2019: Tilray completed the acquisition of Privateer Holdings-an equity firm that invests exclusively in the legal marijuana industry. This acquisition is anticipated to provide the company with greater control and operational flexibility.
  • August 2021: The launch of medicinal hemp is declared by the Tilary Inc, a global pioneer in the research, production, and distribution, which edibles in varieties of chocolates and soft chewing gums rich in THC and CBD. The new Tilray brand provides a wide variety of medicinal marijuana products, along with whole flowers, oils, vaporizers, and pre-rolls designed with the health and wellness of the patient.

Key Companies profiled:

Some prominent players in the global cannabis cultivation market include

  • Pacific Cannabis Growers, Inc.
  • Atlas Growers
  • CannTrust Holdings, Inc
  • The Hydropothecary Corporation
  • Better Holdings
  • Canopy Growth Corporation
  • Aphria, Inc.
  • Aurora Cannabis
  • Tilray
  • Organigram Holdings, Inc.
  • The Cronos Group

Order a free sample PDF of the Cannabis Cultivation Market Intelligence Study, published by Grand View Research.

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