Global Cannabis Cultivation Market
Dublin, Nov. 29, 2022 (GLOBE NEWSWIRE) -- The "Cannabis Cultivation Global Market Report 2022: Ukraine-Russia War Impact" report has been added to ResearchAndMarkets.com's offering.
The global cannabis cultivation market is expected to grow from $114.66 billion in 2021 to $132.55 billion in 2022 at a compound annual growth rate (CAGR) of 15.6%. The cannabis cultivation market is expected to grow to $235.74 billion in 2026 at a compound annual growth rate (CAGR) of 15.5%.
Asia Pacific was the largest region in the cannabis cultivation market in 2021. The regions covered in the cannabis cultivation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 i.e., 2020. Therefore, the adoption of cannabis for the treatment of chronic diseases is driving the cannabis cultivation market.
Product innovations are a key trend gaining popularity in the cannabis cultivation market. Major companies operating in the cannabis cultivation market are focused on developing innovative products to strengthen their position in the cannabis cultivation market.
For instance, in January 2022, Prospiant, a US-based controlled environment agriculture (CEA) greenhouse solutions and cannabis cultivation and extraction technologies provider, launched Delta Ethanol Extraction CUP-5 to specifically meet the requirements of prototype labs, educational research centers, and small-scale cannabis processing facilities. During the process of cannabis cultivation, it can handle plant material in batches as small as 3.5 pounds and finish the extraction process in 2 to 12 minutes. It combines mechanical centrifugation with closed-loop cold alcohol extraction technology to produce a high-purity final product. Its innovative features also include the ability to operate without a C1D2 environment or a hazardous location (HazLoc) requirement.
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
Key Topics Covered:
1. Executive Summary
2. Cannabis Cultivation Market Characteristics
3. Cannabis Cultivation Market Trends And Strategies
4. Cannabis Cultivation Market - Macro Economic Scenario
5. Cannabis Cultivation Market Size And Growth
6. Cannabis Cultivation Market Segmentation
7. Cannabis Cultivation Market Regional And Country Analysis
8. Asia-Pacific Cannabis Cultivation Market
9. China Cannabis Cultivation Market
10. India Cannabis Cultivation Market
11. Japan Cannabis Cultivation Market
12. Australia Cannabis Cultivation Market
13. Indonesia Cannabis Cultivation Market
14. South Korea Cannabis Cultivation Market
15. Western Europe Cannabis Cultivation Market
16. UK Cannabis Cultivation Market
17. Germany Cannabis Cultivation Market
18. France Cannabis Cultivation Market
19. Eastern Europe Cannabis Cultivation Market
20. Russia Cannabis Cultivation Market
21. North America Cannabis Cultivation Market
22. USA Cannabis Cultivation Market
23. South America Cannabis Cultivation Market
24. Brazil Cannabis Cultivation Market
25. Middle East Cannabis Cultivation Market
26. Africa Cannabis Cultivation Market
27. Cannabis Cultivation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cannabis Cultivation Market
29. Cannabis Cultivation Market Future Outlook and Potential Analysis
Pacific Cannabis Growers Inc
Canntrust Holdings Inc
The Hydropothecary Corporation
For more information about this report visit https://www.researchandmarkets.com/r/nw8wq
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