With home grow on the rise and a growing understanding of cannabis genetics, the cannabis seed market is undergoing its glory days. Allied Market Research provides a report showing the growth backed by data gathered by its team of analysts, who focus on multiple markets.
The global cannabis seed market size was valued at $1.3 billion in 2021, and is estimated to reach $6.5 billion by 2031, representing a compound annual growth rate (CAGR) of 18.4% from 2022 to 2031, according to a new report published by Allied Market Research titled, “Cannabis Seeds Market,” demonstrated the projected growth of the market.
“The cannabis seeds market faced a period of short-term negative growth due to COVID-19 pandemic,” Allied Market Research representatives wrote. “Factors such as a decline in the product demand from major end-users, limited operations in most of the industries, inadequate funding to research and academic institutes, and disrupted supply chain has restricted the overall growth of the market during [the] pandemic period. However, [the] market is now slowly recovering from the negative impact and is expected to capture the growth momentum post 2022.
The Cannabaceae family of flowering plants includes the genus Cannabis, traditionally broken down to Cannabis sativa, Cannabis indica, and Cannabis ruderalis, though some have dropped the sativa/indica terminology.
The cannabis seed market is divided into three categories: feminized, regular, and autoflowering seeds. The regular seeds segment dominates in terms of market size.
The feminized seeds segment is also making an impact, growing at a moderate rate during the forecast period. Wild seeds grow at a 50/50 male-female rate. But feminized seeds are genetically modified using a handful of methods, designed to become only female plants. This has several advantages for growers, but the main one is that pollinating male plants won’t be able to devastate a crop and turn flower to seed. This helps facilitate growth and save a great deal of time and help farmers produce plants with clones.
Autoflowering seeds contain ruderalis genetics crossed with potent strains to induce flowering regardless of light cycles, when normally plants do not flower until they receive a 12/12-hour lighting regime.
These tactics help growers tailor plants to their needs based on several outside factors.
In the report, distribution channels were classified as specialty stores, wholesalers and distributors, and online sales channels. Regional markets were analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East and Africa.)
Wholesalers and distributors make up the lion’s share of distribution channel size. The specialty stores segment, however, exhibits the fastest-growing distribution channel. These are the stores that provide expert guidance and detailed product specifications.
Cannabis Seed Benefits
Beyond growing, the seed market also includes the supplement market.
The seeds are great sources of protein, fiber, and healthy fatty acids including omega-3s and omega-6s. They also have significant levels of gamma-linolenic acid and arginine—compounds that help treat chronic pain, lower the risk of heart disease, and help control neurological and other problems.
They also contain calcium, potassium, vitamin E, sulphur, phosphorus, magnesium, and zinc. Those who can’t consume nuts, gluten, lactose, or sugar, however, can eat them because they are high in vitamin E, Allied Market Research adds. The market for cannabis seeds is expanding as a result of the increasing cannabis seed market demand in both the medical and recreational markets.
Cannabis seeds also have been marketed to promote digestion, weight loss, and several other benefits, some of which have yet to be proven. As time rolls on, data will provide more insight into proven benefits.
To learn more about the cannabis seed market, read the full report here.
Credit: Source link