Cannabis Cultivation Trends: The Changing World of Cannabis Cultivation

The cannabis cultivation market is expected to grow during the forecast period due to rising prevalence of cannabis cultivation, legalization of cannabis for medical & recreational purposes across the globe and increasing demand for marijuana-based products among patients has created numerous opportunities for new as well as existing players in the market. The tax associated with this is important for driving revenue in the consumer market and improvement of the legal cannabis market. The rapid advancement of genetic development and intellectual property of cannabis has also been the main key driver for the growth of the cannabis cultivation market.

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Cannabis is a medicinal, recreational and fiber plant consisting of a psychoactive element-tetrahydrocannabinol (THC). This has originated from Central Asia and now cultivated worldwide through outdoor and also indoor by hydroponic technology. The most common uses of cannabis include severe or long-term pain, nausea and vomiting due to chemotherapy (cancer treatments), and painful muscle spasms as a medical drug. These are also used to produce hemp fiber for use in paper, textiles and clothing.

The global cannabis cultivation market is segmented on the basis of type and applications. On the basis of product, the market is classified as buds, oils and tinctures. On the basis of applications, the market is classified as medical, recreational and industrial hemp.

Top Key Players:

• Canopy Growth
• Aphria
• Aurora Cannabis
• Tilray
• GW Pharmaceuticals Plc.
• Tikun Olam
• Cannabis Sativa, Inc.
• Canntrust
• Vivo Cannabis Inc.
• The Cronos Group

Source: The Insight Partners