Cannabis Cultivation Market Size, Share, And Forecast Report by 2032

Cannabis Cultivation Market Size

Zion Market Research has published a report on the global Cannabis Cultivation Market, estimating its value at USD 52.87 Billion in 2023, with projections indicating that it will reach USD 250.19 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 16.8% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Cannabis Cultivation Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Cannabis Cultivation Market: Overview

Legalization of cannabis cultivation along with acceptance of cannabis therapy for treating chronic ailments will drive growth of cannabis cultivation market. The cultivation of cannabis is gaining popularity owing to its wide application in nutraceuticals, personal care & cosmetics, and food & beverages. Moreover, the liberalization of legislation pertaining to the cultivation of cannabis in some developed countries will contribute majorly towards the business landscape. Large-scale acceptance of cannabis for medicinal use will prop up demand for cannabis cultivation in coming years.

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Cannabis Cultivation Market: Growth Factors

Surge in acceptance of cannabis for treating chronic disorders will culminate into humungous growth of cannabis cultivation market. Furthermore, escalating demand for pain-relieving medicines from pharmaceutical industry is likely to result into massive growth in size of cannabis cultivation market. In addition to this, liberalization of laws pertaining to marijuana & hemp will bolster expansion of cannabis cultivation industry over ensuing years. Large-scale use of cannabis in pharmaceuticals, cosmetics, and personal care industries will create new growth avenues for the cannabis cultivation market in upcoming years. Apart from this, rise in utilization of hemp & marijuana in food & beverages and nutraceuticals will steer industry growth.

Furthermore, the growing use of cannabis & derivatives as raw materials by firms will proliferate the expansion of the cannabis cultivation industry over the upcoming years. Rise in use of marijuana for medicinal purpose and treating myriad health conditions including cancer, chronic pain, and mental disorders will steer industry expansion over forecasting years.

Cannabis Cultivation Market: Report Scope

Cannabis Cultivation Market: Regional Landscape

North America To Make Notable Contributions Towards Global Cannabis Cultivation Market Share By 2032

Growth of regional market over forecast timespan is subject to liberalization of laws related to use of cannabis in many of states of the U.S. and also government support for use of cannabis for medicinal purpose in Canada. In addition to this, increase in number of product approvals in countries such as Canada and the U.S. will promulgate growth of cannabis cultivation market in region.  

Cannabis Cultivation Market: Competitive Landscape

Key players influencing growth of cannabis cultivation market and profiled in report are

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

The global Cannabis Cultivation Market is segmented as follows:

By Biomass

• Hemp
• Marijuana

By Application

• Medical Consumption
• Recreational Consumption

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa