Wilmington, Delaware, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Global Cultivation and Processing of Cannabis Market was valued at US$ 32.1 billion in 2023 and is expected to grow at a significant CAGR of over 16.8% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
The increasing trend toward cannabis legalization and decriminalization around the world has been a major driver for the market. As more countries and states legalize or decriminalize cannabis for medical or recreational use, it opens up new opportunities for cultivation and processing businesses.
Further, Cannabis has gained recognition for its potential medical applications. It is being used to treat various medical conditions such as chronic pain, epilepsy, multiple sclerosis, and nausea associated with chemotherapy, among others. The growing acceptance of cannabis as a medical treatment has led to increased cultivation and processing to meet the demand for medical cannabis products.
- According to a deep-dive market assessment by RationalStat, the global cultivation and processing of cannabis market has been analyzed on the basis of market segments, including type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global cultivation and processing of cannabis market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global cultivation and processing of cannabis market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
Request A Customization- https://store.rationalstat.com/store/global-cultivation-processing-cannabis-market/#tab-ux_global_tab
Global Cultivation and Processing of Cannabis Market: Segmental and Market Share Analysis
- On the basis of type, in 2022, hemp is anticipated to dominate the market owing to its use in a variety of products including medicines and cosmetics.
- On the basis of end users, the medical consumption segment led the market in terms of revenue, dominating the global market.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 32.1 billion |
| Market Size Forecast | US$ 95.4 billion |
| Growth Rate | 16.8% |
| Key Market Drivers |
|
| Companies Profiled |
|
Explore more about this report- https://store.rationalstat.com/store/global-cultivation-processing-cannabis-market/#tab-ux_global_tab\
Competition Analysis and Market Structure
These players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global cultivation and processing of cannabis market include,
- In September 2023, Aurora Cannabis Inc. and Coca-Cola HBC AG partnered to develop and commercialize non-alcoholic cannabis-infused beverages in Europe.
- In August 2023, Cronos Group Inc. and Altria Group, Inc. partnered to develop and commercialize cannabis-related products for the Canadian market.
- In July 2023, Canopy Growth Corporation and Constellation Brands Inc. expanded their partnership to include the development and commercialization of cannabis-infused beverages in the United States.
Some of the prominent players and suppliers operating and contributing significantly to the global cultivation and processing of cannabis market growth include Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Tilray, The Cronos Group, Organigram Holding, Inc., Better Holdings, Pacific Cannabis Growers, Atlas Growers, and CannTrust Holdings, among others.
Get A Free Sample- https://store.rationalstat.com/store/global-cultivation-processing-cannabis-market/#tab-ux_global_tab
RationalStat has segmented the global cultivation and processing of cannabis market based on type, application, and region
- Global Cultivation and Processing of Cannabis Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Type
- Hemp
- Marijuana
- Global Cultivation and Processing of Cannabis Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Application
- Medical Consumption
- Recreational Consumption
- Industrial Consumption
- Global Cultivation and Processing of Cannabis Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region
- North America Cultivation and Processing of Cannabis Market
- US
- Canada
- Latin America Cultivation and Processing of Cannabis Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Cultivation and Processing of Cannabis Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Cultivation and Processing of Cannabis Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Cultivation and Processing of Cannabis Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Cultivation and Processing of Cannabis Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Cultivation and Processing of Cannabis Market
For more information about this report- https://store.rationalstat.com/store/global-cultivation-processing-cannabis-market/#tab-ux_global_tab
Key Questions Answered in the Cultivation and Processing of Cannabis Report:
- What will be the market value of the global cultivation and processing of cannabis market by 2030?
- What is the market size of the global cultivation and processing of cannabis market?
- What are the market drivers of the global cultivation and processing of the cannabis market?
- What are the key trends in the global cultivation and processing of cannabis market?
- Which is the leading region in the global cultivation and processing of cannabis market?
- What are the major companies operating in the global cultivation and processing of cannabis market?
- What are the market shares by key segments in the global cultivation and processing of cannabis market?
Explore Our Trending Reports
- Global Plant-based Food Market- Global plant-based food market is estimated to witness a strong CAGR of over 12.5% over the period of 2019-2030.
- Global Food Sorting and Grading Market- Global food sorting and grading market is expected to grow at a CAGR of around 4.4% during the forecast period of 2023-2030 and was valued at US$ 2.0 billion in 2022.
- Australia Gluten-Free Products Market- Australia gluten-free products market is anticipated to attain a value of US$ 548 million by 2030, growing at a compound annual growth rate (CAGR) of 7.0% during the forecast period.
- Australia Beer Market- Australia beer market is anticipated to attain a value of US$ 17.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period.
- Australia Alcoholic Drinks Market- Australia alcoholic drinks market is anticipated to attain a value of US$ 30.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.2% during the forecast period.
- Australia Coconut Products Market- Australia Coconut Products market is anticipated to attain a value of US$ 1,342 million by 2030, growing at a compound annual growth rate (CAGR) of 8.4% during the forecast period.
- Australia Gluten Free Bakery Market- Australia gluten free bakery market is anticipated to attain a value of US$ 135.3 million by 2030, growing at a compound annual growth rate (CAGR) of 11.3% during the forecast period.
- Global Dark Rum Market- Global Dark Rum Market is expected to grow at a significant CAGR over the forecast period of 2022-2028.
- Global Brewery Equipment Market- Global Brewery Equipment Market is expected to grow at a CAGR of 5.8% over the forecast period of 2022-2028
- Global Micro Irrigation Market- Global Micro Irrigation Market is expected to grow at a CAGR of 11.4% over the forecast period of 2022-2028
Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Download Key Insights and Market Data - Raise a Query
About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
Contact
RationalStat LLC
Kimberly Shaw,
Content and Press Manager
US Phone: +1 302 803 5429
UK Phone: +44 203-287-1245
LinkedIn | Facebook | Twitter | Instagram | Pinterest
