The global cannabis cultivation market size is expected to reach USD 45.4 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 13.5% during the forecast period.
Key suggestions from the report:
Buds dominated the market in 2018, owing to a high consumer pool already smoking buds. Moreover, it is a readily usable form and, hence, is considered as a primary product that has more potency as it contains the necessary levels of THC and CBD content. However, the ill effects of smoking buds are likely to impede growth over the forecast period and drive production of cannabis-based oils & tinctures as these products are safe to consume & have a faster onset of action.
North America dominated the marijuana cultivation market in 2018 owing to the presence of
Canada and the U.S. collectively produced the highest quantity of cannabis, accounting for almost the whole share of the total produce. This is due to
Some of the major marijuana cultivators are Canopy Growth Corporation; Aurora Cannabis; Maricann Group, Inc.; Tilray; Aphria, Inc.; The Cronos Group; ABcann Medicinals, Inc.; GW Pharmaceuticals plc.; and Organigram Holding, Inc. Several new cultivators are expected to enter the market due to ongoing legalization in various countries, rising technological advancements in equipment, and growing funding for new startups.
Hemp, Inc., a global leader in the industrial hemp industry with bi-coastal processing centers, announced The National Credit Union Administration (NCUA) will
The cannabis industry is becoming increasingly dominated by big firms, but there is still room for small, craft marijuana producers who peddle high-end
Green Thumb Industries Inc. announced it has closed on a transaction to acquire New York-based Fiorello Pharmaceuticals, one of only 10 companies approved to
Driven Deliveries Inc. (DRVD), the online cannabis sales platform, marketing and home delivery leader announced that it has executed a Letter of Intent to
Sundial Growers Inc. announced that it has entered into a syndicated credit agreement with ATB Financial ("ATB") and Bank of Montreal ("BMO") as co-lead
Fyllo, the world's first MarTech platform for the cannabis industry, announced it has raised $16 million in startup financing from a list of premier