The global cannabis cultivation market is witnesssed significant growth in recent years. Cannabis refers to marijuana plants that are grown for their psychotropic and medicinal properties. Cannabis contains over 100 cannabinoids, including tetrahydrocannabinol (THC) and cannabidiol (CBD). THC is the primary psychoactive constituent and produces the high feeling, while CBD does not cause any psychoactive effects but provides various medical benefits. With the legalization of cannabis for both medical and recreational use in various countries, the demand for cannabis cultivation has increased tremendously. Cannabis farmers are scaling up their operations and adopting advanced greenhouse technologies and farming practices to meet the rising market demand.
Market Dynamics:
The global cannabis cultivation market is primarily driven by the growing legalization of cannabis across countries and its increasing adoption for both medical and recreational purposes. The rising awareness about various medical benefits of cannabis, such as relief from chronic pain, inflammation, insomnia, epilepsy, and neurological diseases, is fueling market growth. Cannabis extracts containing THC and CBD are being explored for their effectiveness in cancer treatment and alleviating chemotherapy side effects. Various state governments are removing restrictions and allowing licensed cultivators to scale up production capacity to meet domestic demand and export opportunities. However, regulatory barriers and high initial investment required for large-scale, mechanized cannabis farms pose challenges to the market. Outdoor farming is also restricted in some regions due to climatic conditions. Market players must adopt advanced farming technologies to improve yield and quality as price competition intensifies in maturing cannabis markets.
Key features of the study:
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