The global Cannabis Cultivation Market size was valued at USD 125.2 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.6% from 2020 to 2027.
Major Players in the Cannabis Cultivation market contains Aphria, Aurora Cannabis, Maricann, Tilray, GW Pharmaceuticals, Tikun Olam and Cannabis Sativa.
Nov 2020-Daniel Yi, managing partner and chief strategy officer of Bellflower said -The complexity and cost of obtaining cannabis licenses has many brands turning to white-label branding. White labeling, a practice common among mainstream businesses, is when a product is produced by one company but packaged and branded to make it appear as if another company made it. For example, many products sold at Whole Foods Market under the 365 brand were not made by Whole Foods at all. Instead, the national grocery chain has various companies that produce the items for Whole Foods to sell under its 365 label.
Tilray, Inc. May 2020- a global pioneer in cannabis research, cultivation, production and distribution, announced its wholly-owned subsidiary High Park Gardens will close its doors over the course of the next six weeks. , Which has since operated as High Park Gardens. The High Park Gardens facility contains 406,000 square feet of Health Canada licensed space for cannabis cultivation and manufacturing. High Park Gardens has worked collaboratively with Tilray’s existing operational sites to primarily serve the adult-use market in Canada.
Nov 2, 2020-The Oglala Sioux tribe voted to implement laws and regulations for tribal members to develop legal cannabis businesses on the Pine Ridge Reservation in South Dakota. According to NORML, the tribal council passed a law on an 11-8 vote that will allow tribal members to sell and grow cannabis and allows for social consumption lounges for both tribal members and non-members. The law also allows the use of cannabis for both patients and non-patient-adults 21 or older.
Washington State University – Oct 2020 People with obsessive-compulsive disorder (OCD) report that the severity of symptoms was reduced by about half within four hours of smoking cannabis. After smoking cannabis, users with OCD reported it reduced their compulsions by 60%, intrusions, or unwanted thoughts, by 49% and anxiety by 52%. The study also found that higher doses and cannabis with higher concentrations of CBD were associated with larger reductions in compulsions.
Aphria reported on Nov 2020 profits on strong sales growth in its fiscal third quarter ended February. Cash flow from the company’s cannabis operations rose by more than 75%, leaving Aphria with over 500 million Canadian dollars (or US$365 million) on its balance sheet for future operations and acquisitions.
Cannabis cultivation market segmentation by type includes Crude Product and fashioning. On the basis of application are Medical Consumption, Recreational Consumption and Industrial Cons. The Asia Pacific dominated the market with a revenue share of 41.6% in 2019 owing to the presence of the largest cultivation markets in the region such as China, South Korea, India, and Australia. Furthermore, favorable climatic conditions, increasing awareness about the plant and its medical benefits, and growing patient pool eligible for medical marijuana treatments are the other factors boosting the growth of the market in the region.