Cannabis Seed Market Trends and Forecast
The future of the global cannabis seed market looks promising with opportunities in the medical and recreational markets. The global cannabis seed market is expected to reach an estimated $1 billion by 2030 with a CAGR of 14.2% from 2024 to 2030. The major drivers for this market are increasing use of cannabis for medical and recreational use and rise of cannabis-infused products industry.
• Lucintel forecasts that regular seed is expected to witness the highest growth over the forecast period.
• Within this market, medical is expected to witness the higher growth.
• North America is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Cannabis Seed Market
• United States: In the United States, companies such as Canopy Growth Corporation and Aurora Cannabis are leading initiatives in the cannabis seeds market. These companies are focusing on developing new strains with specific cannabinoid profiles to meet diverse consumer demands for medicinal and recreational use. Initiatives include partnerships with research institutions to enhance seed genetics and cultivation techniques. Government targets include regulatory frameworks for cannabis cultivation and sales, varying by state. Data can be sourced from industry reports by organizations like New Frontier Data and state regulatory agencies overseeing cannabis markets.
• India: In India, the cannabis seeds market is relatively nascent due to legal restrictions on cannabis cultivation. However, companies like Indian Hemp Company (Ind Hemp) are advocating for regulatory reforms to legalize industrial hemp cultivation, including seeds. Initiatives include lobbying efforts for policy changes to allow hemp cultivation for fiber and seed production. Government targets are focused on exploring the potential of hemp for industrial use while ensuring regulatory oversight. Sources of data include reports from industry associations and advocacy groups promoting hemp legalization.
• China: In China, companies like Yunnan Hemp Bio-Industry Development Co., Ltd. are involved in the cannabis seeds market, primarily focusing on industrial hemp cultivation. These initiatives target hemp seeds for fiber and seed oil production, adhering to strict government regulations on THC content. Government targets include promoting hemp cultivation for industrial purposes while strictly regulating cannabis for recreational use. Data on industrial hemp production and policies can be sourced from government publications and industry reports from ChinaÄX%$%Xs National Bureau of Statistics and agricultural departments.
• Germany: In Germany, companies such as HANF FARM GmbH and Dinafem Seeds are active in the cannabis seeds market, catering to the growing demand for medical cannabis. Initiatives include breeding high-CBD strains and ensuring compliance with stringent European Union regulations on cannabis cultivation and distribution. Government targets include expanding access to medical cannabis through licensed cultivation and distribution channels. Sources of data include reports from the Federal Institute for Drugs and Medical Devices (BfArM) and market research firms tracking cannabis market trends in Europe.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Cannabis Seed Market by Segment
The study includes a forecast for the global cannabis seed market by type, application, and region.
Cannabis Seed Market by Type [Value from 2018 to 2030]:
• Regular Seed
• Feminized Seed
• Autoflowering Seed
Cannabis Seed Market by Application [Value from 2018 to 2030]:
• Medical
• Recreational
• Others
Cannabis Seed Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Cannabis Seed Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies cannabis seed companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cannabis seed companies profiled in this report include-
• Barney’s Souvenirs BV
• Mountain Top Seed Bank
• Paradise Seeds Family
• Seed Supreme
• Sensi Seeds
• Serious Seeds
• Sweet Seeds
Recent Development in the Cannabis Seed Market
• Canopy Growth Corporation: Canopy Growth Corporation has been actively expanding its footprint in the cannabis seeds market globally. They have focused on strategic partnerships and acquisitions to enhance their seed genetics and cultivation capabilities. Initiatives include investing in research and development to breed new cannabis strains with specific cannabinoid profiles tailored for medicinal and recreational use.
• Aurora Cannabis: Aurora Cannabis has prioritized innovation in seed genetics within the cannabis seeds market. They have launched initiatives aimed at developing high-yield cannabis strains with optimized cannabinoid content and enhanced disease resistance. Their efforts also include sustainable cultivation practices and research collaborations to advance seed technology.
• Dinafem Seeds: Dinafem Seeds specializes in breeding CBD-rich cannabis varieties for the medical cannabis market. Their initiative includes developing seeds that produce plants with high levels of cannabidiol (CBD) and low levels of tetrahydrocannabinol (THC), meeting regulatory requirements for medicinal use across different markets.
• Dutch Passion: Dutch Passion emphasizes sustainability and heritage preservation in the cannabis seeds market. They have initiatives focused on preserving heirloom cannabis strains through seed bank projects. Their efforts include promoting biodiversity and ensuring the availability of rare and traditional cannabis genetics for future generations.
Features of the Global Cannabis Seed Market
Market Size Estimates: Cannabis seed market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Cannabis seed market size by type, application, and region in terms of value ($B).
Regional Analysis: Cannabis seed market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the cannabis seed market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the cannabis seed market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the cannabis seed market size?
Answer: The global cannabis seed market is expected to reach an estimated $1 billion by 2030.
Q2. What is the growth forecast for cannabis seed market?
Answer: The global cannabis seed market is expected to grow with a CAGR of 14.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the cannabis seed market?
Answer: The major drivers for this market are increasing use of cannabis for medical and recreational use and rise of cannabis-infused products industry.
Q4. What are the major segments for cannabis seed market?
Answer: The future of the cannabis seed market looks promising with opportunities in the medical and recreational markets.
Q5. Who are the key cannabis seed market companies?
Answer: Some of the key cannabis seed companies are as follows:
• Barney’s Souvenirs BV
• Mountain Top Seed Bank
• Paradise Seeds Family
• Seed Supreme
• Sensi Seeds
• Serious Seeds
• Sweet Seeds
Q6. Which cannabis seed market segment will be the largest in future?
Answer: Lucintel forecasts that regular seed is expected to witness the highest growth over the forecast period.
Q7. In cannabis seed market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the cannabis seed market by type (regular seed, feminized seed, and autoflowering seed), application (medical, recreational, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Cannabis Seed Market Market, Cannabis Seed Market Market Size, Cannabis Seed Market Market Growth, Cannabis Seed Market Market Analysis, Cannabis Seed Market Market Report, Cannabis Seed Market Market Share, Cannabis Seed Market Market Trends, Cannabis Seed Market Market Forecast, Cannabis Seed Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.