Cannabis Cultivation Market Size Worth $1,844.1 Billion By 2030
Cannabis Cultivation Industry Overview The global cannabis cultivation market size is expected to reach USD 1,844.1 billion, expanding at a CAGR of 21.4% from 2022 to 2030, according to a new report by Grand View Research, Inc., Growing legalization and adoption of cannabis for the treatment of chronic diseases is positively impacting the market growth. Furthermore, the liberalization of laws related to hemp and marijuana by various countries is further bolstering revenue growth in the forecast period. Cannabis Cultivation Market Segmentation Grand View Research has segmented the global cannabis cultivation market based on biomass, application, and region: Based on the Biomass Insights, the market is segmented into Hemp, Marijuana. The hemp segment dominated the market for cannabis cultivation and accounted for a revenue share of around 80% in 2021. The high share is attributable to the increasing adoption of hemp and derived products and its growing accepta...