Cannabis Cultivation Market 2023 Supply-Demand, Production Cost and Share Analysis
Cannabis Cultivation Industry The global cannabis cultivation market size is expected to reach USD 1,844.1 billion, expanding at a CAGR of 21.3% from 2023 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 projected to further bolster revenue growth during the forecast period. Furthermore, while the authorities imposed lockdown measures during COVID-19, European consumers hoarded supplies. Between January and March 2020, the value of items sold on Cannazon, a platform for hemp products, reached roughly USD 5.04 million reflecting a volume of 1.6 metric tonnes. In the U.S., a similar increase in sales was observed, with people stockpiling in anticipation of government-mandated shelters. As a result, increased stocks and strong co...