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At CAGR 8.1% Globally Cannabis Cultivation Market Growth | Size, Shares, Key Players, COVID19 Impact | to USD 359.6 Bn Revenue By 2028: Industry Size, Trends, Forecast Report by Zion Market Research
Legalization of cannabis cultivation along with acceptance of cannabis therapy for treating chronic ailments will drive growth of cannabis cultivation market. Cultivation of cannabis is gaining popularity owing to its wide application in nutraceuticals, personal care & cosmetics, and food & beverages. Moreover, liberalization of legislations pertaining to cultivation of cannabis in some of the developed countries will contribute majorly towards business landscape. Large-scale acceptance of cannabis for medicinal use will prop up demand for cannabis cultivation in coming years.
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Surge in acceptance of cannabis for treating chronic disorders will culminate into humungous growth of cannabis cultivation market. Furthermore, escalating demand for pain-relieving medicines from pharmaceutical industry is likely to result into massive growth in size of cannabis cultivation market. In addition to this, liberalization of laws pertaining to marijuana & hemp will bolster expansion of cannabis cultivation industry over ensuing years. Large-scale use of cannabis in pharmaceuticals, cosmetics, and personal care industries will create new growth avenues for cannabis cultivation market in upcoming years. Apart from this, rise in utilization of hemp & marijuana in food & beverages and nutraceuticals will steer industry growth.
Furthermore, growing use of cannabis & derivatives as raw materials by firms will proliferate expansion of cannabis cultivation industry over upcoming years. Rise in use of marijuana for medicinal purpose and treating myriad health conditions including cancer, chronic pain, and mental disorders will steer industry expansion over forecasting years.
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