DUBLIN–(BUSINESS WIRE)-The “Cannabis Seeds Market Forecast to 2028 – Impact of COVID-19 and Global Analysis” report has been added to from ResearchAndMarkets.com offer.
Global Cannabis Seeds Market was valued at USD 1,217.4 Million in 2020 and is projected to reach USD 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 Cannabaceae family. Its three species are Cannabis sativa, Cannabis indica and Cannabis ruderalis. Cannabis seeds are high in protein; fiber; and healthy fatty acids, such as omega-3 and omega-6. The seeds are rich in arginine (amino acid) and gamma-linolenic acid (fatty acid).
These substances help reduce the risk of heart disease, cure chronic pain, and improve neurological and other conditions. Other nutrients found in these seeds are calcium, potassium, vitamin E, sulfur, phosphorus, magnesium, and zinc. These are high in vitamin E and can be consumed by those intolerant of nuts, gluten, lactose or sugar. The growing demand for cannabis from the medical industry and for recreational use is driving the growth of the cannabis seed market.
Based on type, the cannabis seeds market is segmented into regular seeds, feminized seeds, and autoflower 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 main advantage for growers using feminized cannabis seeds is that they don’t have to identify or eliminate pollinating male plants. Growers have several advantages of using feminized cannabis seeds.
Feminized seeds make the growing process easier and save a lot of effort by eliminating the hassle of determining male and female cannabis plants. These seeds help growers create clone plants. Based on variety, the cannabis seeds market is segmented into hybrid, sativa, and indica. Based on the 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 in the region owing to the increasing legalization of cannabis for medical and recreational purposes in North America. Additionally, the medical application of cannabis is growing rapidly as consumers become aware of its medicinal benefits.
The presence of companies such as Medical Marijuana Inc.; Aphria Inc.; and Tilray, Inc. in North America is contributing to the growth of the cannabis seeds market in the region. Moreover, these companies are interested in mergers and acquisitions, as well as expanding their production areas, which will help improve the cannabis seed industry in the region in the coming years.
Key Players Operating in the Global Cannabis Seeds Market:
Barney’s Souvenirs Bv
Mountain Top Seed Bank
Seeds of Paradise family
The seed cellar
Key market dynamics
Growing use of cannabis for medicinal and therapeutic purposes
Increase in the legalization of cannabis in various countries
Complex regulatory structure
Growing Adoption of Cannabis Seeds for Recreational Use
For more information on this report, visit https://www.researchandmarkets.com/r/5gazjf
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