Cannabis Cultivation Global Market to Reach $235.74 Billion by 2026 from $132.55 Billion in 2022

DUBLIN, Dec. 8, 2022 /PRNewswire/ -- 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.

Scope

Markets Covered:

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

30. Appendix

Companies Mentioned

• Pacific Cannabis Growers Inc
• Atlas Growers
• Canntrust Holdings Inc
• The Hydropothecary Corporation
• Better Holdings

For more information about this report visit https://www.researchandmarkets.com/r/hmi2ge

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SOURCE Research and Markets