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 ...