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Exploring Industry Trends and Forecasting the Global Cannabis Seeds Market up to 2031

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Kind Seed Co
Exploring Industry Trends and Forecasting the Global Cannabis Seeds Market up to 2031

Trends and Projections for the Global Cannabis Seeds Market through 2031

During the forecast period from 2023 to 2031, the global cannabis seeds market is projected to experience substantial growth, with a CAGR of 14.70%. In 2023, the market size stood at USD 404.62 million, and it is anticipated to reach USD 1,212.13 million by 2031.

 

The market encompasses various seed types, including Regular Seeds, Feminized Seeds, and Autoflowering Seeds, catering to diverse consumer preferences. Product types within the market include Flowers, Concentrates, Edibles, Topicals and Tinctures, among others, offering a wide range of consumption options.

 

Strains play a crucial role in the cannabis market, with options such as Indica, Hybrid, and Sativa appealing to different user needs and preferences. Additionally, compounds like THC Dominant, CBD Dominant, and Balanced THC and CBD further diversify product offerings, addressing specific therapeutic or recreational requirements.

 

The market is categorized into Inorganic and Organic segments, reflecting consumer demand for both conventional and sustainable cultivation practices. Distribution channels include Store-Based Retailing and Online/E-Commerce Retailing, providing consumers with convenient access to cannabis products.

 

Various types of vendors operate within the market, including Resellers, Breeders, and Seeds Manufacturing Companies, each contributing to the market's growth and innovation. Applications for cannabis seeds extend across the Medical Industry and Recreational sectors, highlighting the versatile nature of cannabis as a therapeutic agent and leisure product.

 

Overall, the global cannabis seeds market is characterized by its dynamic product offerings, diverse consumer base, and evolving regulatory landscape, positioning it for continued growth and expansion in the coming years.


Seeds of Change: Analyzing and Sizing Up the Cannabis Seeds Market

The cannabis seeds market offers a diverse array of strains tailored to meet both recreational and medicinal needs across sectors such as pharmaceuticals, wellness, and agriculture. With their rich cannabinoid profiles, these seeds hold promise for alleviating conditions like pain and anxiety, among others. Moreover, breeders leverage genetic diversity to craft innovative hybrids with distinct characteristics, driving market innovation.

 

For instance, depression, affecting approximately 280 million individuals globally as of 2021 according to the WHO, remains a significant concern, with millions impacted worldwide. Given the growing recognition of cannabis's potential therapeutic benefits, the industry is poised for continued expansion.

 

Data Bridge Market Research projects robust growth in the global cannabis seeds market, with a valuation of USD 404.62 million in 2023 and an anticipated increase to USD 1,212.13 million by 2031, reflecting a CAGR of 14.7% during the forecast period from 2024 to 2031. Alongside market insights such as value, growth rate, segmentation, and geographical coverage, Data Bridge Market Research reports offer comprehensive expert analysis, detailed production and capacity data for companies by region, distributor and partner network layouts, and thorough price trend and supply chain deficit analyses.


Unveiling the Dynamics of the Global Cannabis Seeds Market

Drivers

Rising Demand in Ancillary Industries

The CBD industry growth extends beyond consumption, including ancillary sectors such as cultivation equipment, fertilizers, and consulting services. Growth in these areas fuels demand for cannabis seeds as cultivation facilities require a steady supply to maintain production. This symbiotic relationship between ancillary industries and seed demand contributes to the overall expansion of the cannabis market.

Growing Acceptance and Demand for Medical Cannabis

The increasing acceptance of medical cannabis fuels the demand for specialized strains rich in therapeutic compounds such as CBD. This trend propels the need for premium cannabis seeds optimized to cultivate plants with targeted medicinal properties, catering to the growing demand for effective and reliable medical cannabis products.

For instance, a study from Michigan University, published in June 2021, found that among 878 fibromyalgia patients, 72% reported using CBD to alleviate their pain. CBD was reported to be more effective in reducing pain compared to other drug therapies.

Opportunities

Emergence of New Strains and Varieties

Breeders continuously develop new cannabis strains with unique flavors, effects, and cannabinoid profiles to meet consumer demands. This constant innovation fuels the demand for cannabis seeds as consumers seek novel experiences and therapeutic benefits. The growth of the cannabis seeds market is propelled by the emergence of new strains and varieties, meeting changing preferences and cannabis trends in the industry.

Expansion of Cultivation Facilities

The legalization and normalization of cannabis led to a surge in licensed cultivation facilities. These facilities depend on a steady supply of high-quality seeds to sustain production, stimulating market growth. As the demand for cannabis increases, so does the need for reliable seed sources, driving the expansion of the cannabis seeds market.

For instance, in January 2021, Pure Extracts Technologies finalized an agreement to acquire 220 kilograms of high-potency cannabis dried flower from a major Canadian licensed producer, alongside 1,000 kilograms of high-potency CBD biomass from a leading Western Canadian cultivator. This move aims to bolster the production of both THC and CBD extracts.

Restraints/Challenges

Issues Associated with Banking and Financial Services

The legal complexities of the cannabis industry often deter banks and financial institutions from offering services to related businesses. This reluctance poses significant challenges for cannabis companies seeking essential financial services such as loans and merchant accounts. It hinders their ability to operate smoothly and access necessary resources for growth and development.

Disruption in Supply Chain Management

Managing the cannabis seeds supply chain presents challenges in sourcing raw materials, transportation, storage, and distribution. Maintaining efficiency and reliability is vital for meeting customer demand and profitability. Regulatory complexities add further hurdles. Effective management is essential to navigate these challenges and ensure a smooth production and distribution flow.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

In January 2023, Royal Queen Seeds became the pioneer in supplying true F1 cannabis hybrids, offering uniformity, stability, and high yield quality for the emerging legal cannabis market. Their RQS F1 seeds, derived from inbred lines, aim to revolutionize the industry by ensuring consistent crops and standardized final products

In September 2022, CBD Seed Europe, a Bulgarian company, registered two genotypes on the European Seed Register, boasting record levels of cannabidiol. These cultivars, "Midwest" and "Northwest," promise CBD concentrations of up to 12%, exceeding the typical 5% to 6% found in most registered CBD seeds

In 2021, Germany's STADA Arzneimittel AG ventured into the medical cannabis market through a strategic partnership with Canadian firm MediPharm Labs. This collaboration underscores the pharmaceutical industry's recognition of the expanding market for medical cannabis products, adapting to evolving consumer demands and regulatory frameworks in Germany

In 2020, MedPharm collaborated with CBD Vida, Ltda to launch CBD CALM in Brazil, showcasing the global expansion of the medical cannabis market. Through partnerships like these, companies aim to address the increasing demand for medical cannabis worldwide while diversifying their product offerings to cater to different regions

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.


Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Rooted Insights: Regional Analysis of the Cannabis Seeds Market

The cannabis seeds market is meticulously analyzed, offering insights and trends across various parameters such as country, seed type, product type, strain, compound, category, distribution channel, vendor type, and application. Countries covered in the report span across regions including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa, encompassing major markets like the U.S., Canada, Germany, China, India, Brazil, and the U.A.E., among others.

 

North America is poised to lead the cannabis seeds market, buoyed by a robust consumer base and the presence of key industry players. The region benefits from extensive research efforts, fostering a mature and expanding cannabis industry that solidifies its market dominance.

 

Each country section of the report delves into specific market influencers and regulatory changes impacting domestic market trends. Factors such as downstream and upstream value chain analysis, technical trends, Porter's Five Forces analysis, and case studies contribute to forecasting the market scenario for individual countries. Additionally, the report considers the presence and accessibility of global brands and their challenges, including competition from local and domestic brands, as well as the impact of domestic tariffs and trade routes on market forecasts.


Competitive Landscape and Cannabis Seeds Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the cannabis seeds market are:

T.H.Seeds (Netherlands)

Delicious Seeds (Spain)

Royal Queen Seeds (Spain)

Dutch Passion (Netherlands)

Sweet Seeds (Spain)

Aswartha Traders (India)

Serious Seeds (Netherlands)

DNA Genetics (Netherlands)

Sensi Seeds (Netherlands)

Green House Seed Company (Netherlands)

Kind Seed Co (U.S.)

Crop King Seeds (U.S.)

Amsterdam Marijuana Seeds | Online Seedbank (Netherlands)

Paradise Seeds (Netherlands)

Mountain Top Seed Bank (India)

Kannabia (Spain)

Samridhi Herbs (India)

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