cannabis seeds industry
The global cannabis seeds market is set for substantial expansion, projected to grow at an impressive CAGR of 18.4% from 2022 to 2031.
— Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE 19801 USA, UNITED STATE, February 4, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Cannabis Seeds Market,” The cannabis seeds market size was valued at $1.3 billion in 2021, and is estimated to reach $6.5 billion by 2031, growing at a CAGR of 18.4% from 2022 to 2031.
𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 @
The Cannabaceae family of flowering plants includes the genus Cannabis. Cannabis sativa, cannabis indica, and cannabis ruderalis are its three species. Protein, fiber, and healthy fatty acids like omega-3s and omega-6s are all abundant in cannabis seeds. The seeds have significant levels of gamma-linolenic acid and arginine. These compounds help treat chronic pain, lower the risk of heart disease, and enhance neurological and other problems. These seeds also contain calcium, potassium, vitamin E, Sulphur, phosphorus, magnesium, and zinc among other minerals. Those who can’t consume nuts, gluten, lactose, or sugar can eat them because they are high in vitamin E. The market for cannabis seeds is expanding as a result of the increasing cannabis seeds market demand in both the medical and recreational markets.
𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 @
According to cannabis seeds market analysis, the global cannabis seeds market is analyzed on the basis of nature, type, distribution channel, and region. By nature, the market is divided into organic and conventional. Among these, the conventional segment occupied the major cannabis seeds market share of the market in 2021, and is projected to maintain its dominance during the cannabis seeds market forecast period. Cannabis that is produced conventionally employs chemical fertilizers and pesticides to help fight disease and prevent pest infestations, assuring healthy plant growth and output. Additionally, hybridizing traditional cannabis seeds results in plants with the best traits of both parent species.
By type, the market is divided into feminized seeds, regular seeds, and autoflowering seeds. The feminized seeds segment is growing at a moderate rate during the forecast period. Cannabis seeds that have undergone genetic modification to become only female plants are known as feminized seeds. Utilizing feminized cannabis seeds has several advantages for growers, but the main one is that pollinating male plants do not need to be found or removed. Feminized cannabis seeds have various benefits for growers. By removing the hassle of identifying the male and female cannabis plants, feminized seeds facilitate growth and save a great deal of time. The farmers can produce plants with clones due to these seeds. These cannabis seeds market trends is creating lucrative cannabis seeds market opportunity for the cannabis seeds market growth.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 @
By distribution channel, it is classified into specialty stores, wholesalers and distributors, and online sales channel. The wholesalers and distributors segment dominates the market during the forecast period. Cannabis seed wholesalers and distributors are committed to providing cannabis seeds to authorized merchants and dispensaries. They might be dealers or licensed third-party distributors as well as growers or seed manufacturers of cannabis. The third-party distributors are in charge of providing cannabis seeds to authorized retail establishments and dispensaries after purchasing them in bulk from industrial farmers.
The region that dominated the global cannabis seeds market in 2021 was North America, and this dominance is anticipated to continue throughout the forecast period. Due to the growing legalization of cannabis in North America for both medical and recreational purposes, the industry is expanding throughout the area. Additionally, as more people become aware of cannabis’ therapeutic advantages, its use in medicine is fast growing. These companies also want to extend their production regions and engage in mergers and acquisitions, all of which will benefit the cannabis seed market in the region in the upcoming years.
Exporters in both developed and developing nations faced a number of difficulties as a result of the COVID-19 epidemic. The implementation of lockdown and curfew procedures on a global scale had an impact on both domestic and foreign manufacture of cannabis seeds, which in turn hindered cannabis seeds industry expansion. As a result, the COVID-19 epidemic had a negative influence on the cannabis seeds market in 2020 as a result of decreased company sales and operations being suspended.
𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 @
The major players analyzed for global cannabis seeds industry are Barney’s Souvenirs BV, Christiania Seeds, DELICIOUSSEEDS, Dinafem Seeds, Dutch Passion, Green House Seed Co., I Love Growing Marijuana, Mountain Top Seed Bank, Paradise Seeds, Seed Cellar, Seed Supreme, Sensi Seeds, Tropical Seeds Co., and Royal Queen Seeds.
KEY FINDINGS OF STUDY
— By nature, the conventional segment was the highest revenue contributor to the market, with $690.1 million in 2021, and is estimated to reach $3,623.2 million by 2031, with a CAGR of 18.7%.
— By type, the regular seeds segment was the highest revenue contributor to the market, with $601.2 million in 2021, and is estimated to reach $3,000.5 million by 2031, with a CAGR of 18.1%.
— Depending on distribution channel, the wholesalers and distributors segment was the highest revenue contributor to the market, with $695.5 million in 2021, and is estimated to reach $3,439.0 million by 2031, with a CAGR of 18.0%.
— Region wise, North America was the highest revenue contributor, accounting for $1,105.7 million in 2021, and is estimated to reach $4,589.0 million by 2031, with a CAGR of 16.0%.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Article originally published on www.einpresswire.com as Cannabis Seeds Market Projected to Reach $6.5 Billion by 2031, Fueled by Legalization and Health Benefits.