DUBLIN–(BUSINESS WIRE)–The “Cannabis Seeds Market Forecast to 2028 – COVID-19 Impact and Global Analysis” report has been added to ResearchAndMarkets.com’s offering.
The global cannabis seeds market was valued at US$ 1,217.4 million in 2020 and is projected to reach US$ 4,642.6 million by 2028; it is expected to grow at a CAGR of 18.2% from 2020 to 2028.
Cannabis is a genus of flowering plants in the Cannabaceaem family. Its three species are cannabis sativa, cannabis indica, and cannabis ruderalis. Cannabis seeds are rich in protein; fiber; and healthful fatty acids, such as omega-3s and omega-6s. The seeds are high in arginine (amino acid) and gamma-linolenic acid (fatty acid) content.
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These substances help reduce the risk of heart diseases, cure chronic pain, and improve neurological and other conditions. Other nutrients found in these seeds are calcium, potassium, vitamin E, sulphur, phosphorous, magnesium, and zinc. These are rich in vitamin E and can be eaten by those who are unable to tolerate nuts, gluten, lactose, or sugar. The rising demand for cannabis from the medical industry and for recreational use drive the growth of the cannabis seeds market.
Based on type, the cannabis seeds market is segmented into regular seeds, feminized seeds, and autoflowering seeds. The feminized seeds segment is expected to register the highest CAGR during the forecast period. Feminized cannabis seeds are genetically modified to produce exclusively female plants. The primary benefit for producers that utilize feminized cannabis seeds is that they do not have to identify or eliminate pollinating male plants. Growers have several advantages of using feminized cannabis seeds.
Feminized seeds make the growth process easy and save a lot of effort by eliminating the trouble of determining the male and female cannabis plants. These seeds help the growers to create clones plants. Based on strain, the cannabis seeds market is segmented into hybrid, sativa, and indica. Based on distribution channel, the market is segmented into wholesalers and distributors, specialty stores, and online retail.
In 2020, North America held the largest revenue share of the market. The market is growing across the region due to the increasing legalization of cannabis for medical and recreational purposes in North America. Furthermore, the medical application of cannabis is rapidly expanding as consumers become aware of its medicinal benefits.
The presence of firms such as Medical Marijuana Inc.; Aphria Inc.; and Tilray, Inc. in North America contributes to the growth of the cannabis seeds market in the region. Furthermore, these businesses are interested in mergers and acquisitions, as well as expanding their production areas, all of which will help to enhance the cannabis seed industry in the region in the coming years.
Major players operating in the global cannabis seeds market:
- Christiania Seeds
- Barney’s Souvenirs Bv
- Mountain Top Seed Bank
- Paradise Seeds Family
- Seed Supreme
- Sensi Seeds
- Serious Seeds
- Sweet Seeds
- The Seed Cellar
- Dutch Passion
Key Market Dynamics
Market Drivers
- Rising Use of Cannabis for Medicinal and Therapeutic Purposes
- Increasing Legalization of Cannabis in Various Countries
Market Restraints
- Complex Regulatory Structure
Market Opportunities
- Rising Adoption of Cannabis Seeds for Recreational Purpose
Future Trend
- New Technologies
For more information about this report visit https://www.researchandmarkets.com/r/5gazjf
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