CBD Plant Nutrients Market Revenue, Emerging Trends and Business Strategy Until 2030
Cannabidiol (CBD) plants are hemp or marijuana
plants from which CBD is extracted. The legalization of marijuana cultivation
has led to a rush of procurement of CBD plants. The high demand of marijuana
for therapeutic and recreational purposes is assured to encourage the large
scale growth of these plants. The global CBD Plant Nutrients Market report by
Market Research Future (MRFR) considers the impact of the legalization of CBD
and the nutrients ensured to maintain its quality. The drivers, opportunities,
and challenges for the forecast period are explained in detail with respect to
the various regions.
Market Outlook
The global CBD Plant Nutrients Market size can
inflate to USD 453,208.5 thousand by 2025. It can display a CAGR of 28.36% over
the forecast period. The changing attitude of farmers, hemp growers, and
producers towards hemp nutrition is the major driver of the market. Application
of CBD in commercial, industrial, and animal feed will work in favor of the
market. Legalization of hemp cultivation will also be an important catalyst in
the demand for essential plant nutrients for growing plants with only 0.3% THC
concentration levels.
The increased funding for research on
cannabidiol for application in personal care products, protein supplements, and
others will drive the need for nutrient-rich fertilizers. Huge prevalence of
chronic diseases is driving the need for CBD in pain alleviating medicines. The
dash between organic and synthetic nutrient producers will be pivotal in the
coming years.
Segmentation Analysis
The global CBD Plant
Nutrients Market is segmented by type, category, and
mode of application.
By type, it is segmented into micronutrients
and macronutrients. The former is further segmented into boron, iron,
manganese, and others, while the latter is segmented into potassium, nitrogen,
phosphorus, and others. The macronutrients segment is expected to garner high
revenues for the market owing to NPK being pivotal in the healthy growth of
hemp. The quality of the soil can influence the level of macronutrients
required by the plant. It can reach a value of USD 316,012.4 thousand by 2025.
By category, it is segmented into organic and conventional.
By mode of application, it is segmented into
foliar, fertigation, and drenching.
Regional Analysis
Geographically the chemotherapy market is
divided into Europe, North America, Asia Pacific (APAC), and Rest-of-the-World
(RoW).
North America is expected to control a major
share of the global Plant
Nutrients industry owing to the legalization of
cultivation of marijuana made possible by the passing of the 2018 farm bill. In
addition, its wide application has led to hemp industry leaders expanding their
facilities for developing hemp buds. Recently, Hemp Inc. announced the sale of
10,000 hemp buds. In addition, fertilizer experts are developing nutrient formulations
based on moisture levels, soil quality, and efficient irrigation methods for
successful yields. The region is deemed to score 28.52% CAGR during the
forecast period.
APAC accounted for 40.44% market share in
2018. New Zealand, China, and Australia were the biggest revenue generators of
the region. The legalization of cannabis cultivation in Thailand has opened up
the region for investment.
Competition Outlook
ZuariAgroChemicals Ltd, The Mosaic Company, CF
Industries Holdings, Inc, Nutrien Ltd, PhosAgro, Sociedad QuÃmica y Minera de
Chile, Israel Chemicals Limited, EuroChem Group, Yara International ASA, and
Haifa Chemicals Ltd are key players of the global CBD Plant Nutrients Market.
Industry News
Netafim Ltd. has launched PioneerLine, a
dripline designed to be used in the cultivation of hemp. The cultivation of
hemp for seed, oil, or fiber can allow hemp growers to control the water flow
and cater to the plant’s needs.
NOTE: Our Team of Researchers are Studying Covid19 and
its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013,
United States of America
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