Global Cannabis Cultivation Market : Overview
The wave behind commercialization of cannabis cultivation largely pivots on legalization of recreational cannabis, most notably in the U.S. and Canada. Producers of commercial-scale cannabis are enamored by the groundswell of interest that legalized medical marijuana has made among consumers. In numerous parts of the U.S. and Canada, producers have forked out large sums on getting cultivation licenses. Cultivators in a few developed regions have been investing colossally on greenhouse farming methods for the cannabis cultivation. The exorbitant large return on investment is essentially what drives their interest in the cannabis cultivation.
Spending on legal cannabis are swelling at a marked pace, spurring companies in expanding the size of cannabis farms. In crux, the cannabis cultivation is a fast growing industry, and emerging markets such as in North America will witness the rise of numerous large-scale greenhouse production facilities. The ecosystem will also attract home growers who are attracted by medical marijuana. The potential use of cannabinoids as medicine is fast gathering steam among worldwide populations.
The report on the cannabis cultivation market presents a deep-dive assessment of several of the aforementioned trends behind its evolution. The insights offered in the study strives to weigh in the size the global cannabis cultivation market is expected to assume in the face of intense interest of commercial cultivators in reaping the profits of medical or recreational marijuana. The authors of the report aim to scrutinize the various issues encompassing the legalizing wave, especially the rules and regulations on product safety and labelling.
Global Cannabis Cultivation Market: Trends and Opportunities
Several states of America have witnessed the rapid increase in numbers of cultivation permits. A host of large purported medicinal benefits of marijuana drives interest of companies in cannabis cultivation, world over. Some of the therapeutic areas where cannabis cultivation holds great promise are in the treatment of pain and inflammation, in controlling epileptic seizures, and in managing mental illnesses. CBD, a key cannabinoid obtained from the marijuana plant, has been used in FDA-approved medications.
Coupled with this, the colossal interest of researchers in the science behind the cannabinoid chemicals is also helping propelling opportunities in the cannabis cultivation market. A number of public health research institutes, such as in the U.S., have been exploring this space. This is evident in the growing numbers of animal studies on the clinical role of marijuana extracts in treating cancer and a host of diseases.
The report on the global cannabis cultivation market provides an in-depth insight into various trends that will spur interest among growers. The study also highlights how zealous commercial growers are benefitting from advances in plant science and analytical chemistry that has been used in hemp production.
Global Cannabis Cultivation Market: Regional Landscape
The report provides an assessment of key growth areas in various regions and offers projections on the size of key regional markets. The study on the cannabis cultivation also takes a closer look at the prevailing regulatory frameworks and the recent changes that impact the key market dynamics.
Of the various key regions, North America has held an extraordinary revenue potential in the cannabis cultivation market. The growth of the regional market is on the back of the presence of large numbers of companies in the U.S. and Canada who have bagged licenses in recent years. Further, relentless efforts of researchers to investigate the therapeutic effect of cannabis compounds has also added momentum to the expansion. Cannabis growers in the region are also benefiting from the presence of high-tech labs for testing and calibration. Plus, they are leveraging large greenhouse complexes for large-scale cannabis production.
The wave of legalizing cannabis cultivation has touched other geographies, most notably countries in Asia Pacific. A case in point is India.
Global Cannabis Cultivation Market: Companies Profiled in the Report
The study presents a critical assessment of the player ecosystem that includes the intensity of competition, promising investment pockets for new entrants, and degree of fragmentation. Some of the prominent players the study has stress upon are Canopy Growth Corporation, Aurora Cannabis, GW Pharmaceuticals plc., Sativa, Inc., and TruTrace Technologies Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.