Cannabis Cultivation Market

Global Cannabis Cultivation Market

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Anuradha

Author:

Anuradha B. More

Vaibhav

Fact-checked by:

Vaibhav Chandola

Aman

Editor:

Aman Singh

The global cannabis cultivation market size was USD 27.7 Billion in 2022 and is likely to reach USD 196.21 Billion by 2031 , expanding at a CAGR of 24.3% during 2023 – 2031. Rise in the adoption of cannabis for the treatment of several diseases has led to the rise in the cannabis cultivation. Legalization of cannabis in several countries is fueling cannabis cultivation.

Cannabis is cultivated for the manufacturing of cannabis-based products. Cannabidiol (CBD) levels are analyzed in the cannabis-based products, which has led to the use of cannabis in several industries including cosmetics, pharmaceuticals, food &beverages, and nutraceuticals. Rising demand for cannabis for recreational and medicinal purposes drives the growth of the market.

Cannabis Cultivation Market Outlook

Market Trends, Drivers, Restraints, and Opportunities

  • Increase in the adoption of marijuana for medical purposes is driving the cannabis cultivation market.

  • Rise in investments in research & development of cannabis compounds is fueling the market.

  • Implementation of rigid regulations on the cultivation of cannabis is expected to hamper the market.

Scope of Cannabis Cultivation Market Report

The report on the global cannabis cultivation market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Cannabis Cultivation Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Biomass (Hemp and Marijuana), and Applications (Medicinal Consumption, Recreational Consumption, and Industrial Consumption),

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

Canopy Growth Corporation; Aphria, Inc.; AURORA CANNABIS INC.; Maricann Inc.; Tilray Brands; The Cronos Group; Organigram Holdings Inc.; ABcann Medicinals, Inc.; Jazz Pharmaceuticals, Inc.; and Lexaria Bioscience.

Cannabis Cultivation Market Segment Insights

Based on biomass, the cannabis cultivation market can be segmented into hemp and marijuana. The marijuana segment is projected to grow at a significant pace during the forecast period owing to the increasing medicinal applications of marijuana and rising legalization of cannabis. Marijuana is used to provide relief to cancer patients.

Conversely, the hemp segment is anticipated to expand at a significant CAGR between 2020 and 2027. The growth of this segment is attributed to the increase in consumption of hemp-based products owing to its several health benefits and the use of hemp-based products for providing relief during the treatment of diseases such as epilepsy and sleeping disorders.

Cannabis Cultivation Market  Biomass

In the terms of applications, the market can be divided into medicinal consumption, recreational consumption, and industrial consumption. The industrial consumption segment is projected to grow at a significant pace during the forecast period due to rising use of marijuana and hemp in several industries, including pharmaceuticals, personal care & cosmetics, nutraceuticals, and food &beverages.

Growing use of cannabis-based products and its derivatives as raw materials by companies to produce innovative cannabis-infused products is expected to propel the segment growth.

On the basis of regions, the global cannabis cultivation market can be categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a considerable share of the global market. The USis expected to constitute a significant share of the market during the forecast period. Legalization of cannabis for medicinal use in the US and Canada drives the cannabis cultivation market in the country.

Cannabis Cultivation Market Region

Segments

Biomass

  • Hemp
  • Marijuana

Applications

  • Medicinal Consumption
  • Recreational Consumption
  • Industrial Consumption

Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Key Players

  • Canopy Growth Corporation
  • Aphria, Inc.
  • AURORA CANNABIS INC.
  • Maricann Inc.
  • Tilray Brands
  • The Cronos Group
  • Organigram Holdings Inc.
  • ABcann Medicinals, Inc.
  • Jazz Pharmaceuticals, Inc.
  • Lexaria Bioscience.

Competitive Landscape

Key players in the global cannabis cultivation market include CCanopy Growth Corporation; Aphria, Inc.; AURORA CANNABIS INC.; Maricann Inc.; Tilray Brands; The Cronos Group; Organigram Holdings Inc.; ABcann Medicinals, Inc.; Jazz Pharmaceuticals, Inc.; and Lexaria Bioscience. They are engaged in mergers& acquisitions, collaborations, agreements, and partnerships as growth strategies to strengthen their geographical presence and market share.

Cannabis Cultivation Market Keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cannabis Cultivation Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Cannabis Cultivation Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Cannabis Cultivation Market - Supply Chain
  4.5. Global Cannabis Cultivation Market Forecast
     4.5.1. Cannabis Cultivation Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Cannabis Cultivation Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Cannabis Cultivation Market Absolute $ Opportunity
5. Global Cannabis Cultivation Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Cannabis Cultivation Market Size and Volume Forecast by Applications
     5.3.1. Medicinal Consumption
     5.3.2. Recreational Consumption
     5.3.3. Industrial Consumption
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Cannabis Cultivation Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Cannabis Cultivation Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Cannabis Cultivation Demand Share Forecast, 2019-2026
7. North America Cannabis Cultivation Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Cannabis Cultivation Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Cannabis Cultivation Market Size and Volume Forecast by Applications
     7.4.1. Medicinal Consumption
     7.4.2. Recreational Consumption
     7.4.3. Industrial Consumption
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Cannabis Cultivation Demand Share Forecast, 2019-2026
8. Latin America Cannabis Cultivation Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Cannabis Cultivation Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Cannabis Cultivation Market Size and Volume Forecast by Applications
     8.4.1. Medicinal Consumption
     8.4.2. Recreational Consumption
     8.4.3. Industrial Consumption
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Cannabis Cultivation Demand Share Forecast, 2019-2026
9. Europe Cannabis Cultivation Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Cannabis Cultivation Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Cannabis Cultivation Market Size and Volume Forecast by Applications
     9.4.1. Medicinal Consumption
     9.4.2. Recreational Consumption
     9.4.3. Industrial Consumption
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Cannabis Cultivation Demand Share Forecast, 2019-2026
10. Asia Pacific Cannabis Cultivation Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Cannabis Cultivation Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Cannabis Cultivation Market Size and Volume Forecast by Applications
     10.4.1. Medicinal Consumption
     10.4.2. Recreational Consumption
     10.4.3. Industrial Consumption
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Cannabis Cultivation Demand Share Forecast, 2019-2026
11. Middle East & Africa Cannabis Cultivation Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Cannabis Cultivation Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Cannabis Cultivation Market Size and Volume Forecast by Applications
     11.4.1. Medicinal Consumption
     11.4.2. Recreational Consumption
     11.4.3. Industrial Consumption
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Cannabis Cultivation Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Cannabis Cultivation Market: Market Share Analysis
  12.2. Cannabis Cultivation Distributors and Customers
  12.3. Cannabis Cultivation Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Canopy Growth Corporation
     12.4.2. Aphria, Inc.
     12.4.3. AURORA CANNABIS INC.
     12.4.4. Maricann Inc.
     12.4.5. Tilray Brands
     12.4.6. The Cronos Group
     12.4.7. Organigram Holdings Inc.
     12.4.8. ABcann Medicinals, Inc.
     12.4.9. Jazz Pharmaceuticals, Inc.
     12.4.10. Lexaria Bioscience.

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