The cannabis cultivation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cannabis Cultivation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cannabis cultivation market size has grown rapidly in recent years. It will grow from $155.33 billion in 2023 to $180.66 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to legalization trends, medical use acceptance, consumer awareness, investment inflow.
The cannabis cultivation market size is expected to see rapid growth in the next few years. It will grow to $340.63 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%. The growth in the forecast period can be attributed to research and development, sustainable practices, consumer education. Major trends in the forecast period include technological advancements, global expansion, brand development, product diversification, strain customization, consolidation and competition.
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Scope Of Cannabis Cultivation Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
Adoption of cannabis for the treatment of chronic diseases is expected to propel the growth of the cannabis cultivation market going forward. Chronic disease refers to a medical condition that lasts for a year or longer and necessitates continuing medical care and restricts daily activities. Adoption of cannabis for the treatment of chronic diseases helps cannabis cultivation by demonstrating safety, efficacy, and consistency sufficient for regulatory approval in spasticity in chronic diseases such as multiple sclerosis, and Dravet and Lennox-Gastaut Syndromes. For instance, in March 2022, according to the data published in the annual report of Jazz Pharmaceuticals plc, an Ireland-based biopharmaceutical company, the company generated a net sale of $463.6 million for Epidiolex, in 2021, with a year-on-year sales growth of 29% as compared to previous year. Therefore, the adoption of cannabis for the treatment of chronic diseases is driving the cannabis cultivation market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The cannabis cultivation market covered in this report is segmented –
1) By Type: Cannabis Indica, Cannabis Sativa
2) By Source: Flower or Buds, Leaves, Other Sources
3) By Application Outlook : Medical Consumption, Recreational Consumption, Industrial Consumption
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Regional Insights –
Asia-Pacific was the largest region in the cannabis cultivation market in 2023. The regions covered in the cannabis cultivation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the cannabis cultivation market report are Pacific Cannabis Growers Inc., Atlas Growers Ltd., Canntrust Holdings Inc, The Hydropothecary Corporation, Better Holdings Inc., Canopy Growth Corporation, Aurora Cannabis Inc., Aphria Inc., Cronos Group Inc., Tilray Inc., GW Pharmaceuticals plc, Organigram Holdings Inc., Harvest Health & Recreation Inc., Green Thumb Industries Inc., Trulieve Cannabis Corp., Curaleaf Holdings Inc., Cresco Labs Inc., TerrAscend Corp., MedMen Enterprises Inc., Acreage Holdings Inc., Columbia Care Inc., Vireo Health International Inc., Liberty Health Sciences Inc., Harvest One Cannabis Inc., Emerald Health Therapeutics Inc., Aleafia Health Inc., The Green Organic Dutchman Holdings Ltd., Supreme Cannabis Company Inc., CannTrust Holdings Inc., Cannara Biotech Inc., Auxly Cannabis Group Inc., MediPharm Labs Corp., Neptune Wellness Solutions Inc., Zenabis Global Inc.
Table of Contents
1. Executive Summary
2. Cannabis Cultivation Market Report Structure
3. Cannabis Cultivation Market Trends And Strategies
4. Cannabis Cultivation Market – Macro Economic Scenario
5. Cannabis Cultivation Market Size And Growth
…..
27. Cannabis Cultivation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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