The Asia-Pacific Cannabis Seeds Market Overwhelming hike in the forecast period 2022 to 2029
The world class Asia-Pacific Cannabis Seeds Market market survey report identifies the consumers’ needs and wants to deliver it more sincerely, effectively, and efficiently than the competition. Easy to understand research methods and employment of excellent tools and techniques make this market research report exceptional. The study takes into account drivers and restraints for the market along with the impact they have on the demand over the forecast period. Clients get fluency with a nice combination of best industry insight, practical solutions, talent solutions and latest technology while using an excellent Asia-Pacific Cannabis Seeds Market report for the business growth.
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Market Analysis and Insights - Asia-Pacific Cannabis Seeds Market
The cannabis seeds market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 14.8% in the forecast period of 2020 to 2027 and is expected to reach USD 7,000,548.00 million by 2027. The rising awareness about the benefits of cannabis seeds and increasing number of health conscious consumers is helping the cannabis seeds market to grow in the region.
The cannabis seeds market is growing tremendously with the legalization of cannabis in 33 out of 50 states. The cannabis seeds are instrumental to the type of cannabis plants grown. These seeds can be of various types including regular, auto-flower and feminized depending on the type of plant to be grown. The breeding of strains is done to produce the desired quality of strains. The cannabis seeds have two very important chemicals in them namely, cannabidiol (CBD) which is a non-psychoactive element and tetrahydrocannabinol (THC) which is the psychoactive element. Depending on them, there are two seed varieties which are cannabidiol (CBD) and tetrahydrocannabinol (THC) dominant.
Seed banks provide seeds to the companies that use them for medicinal purposes which means that they should ensure that the seeds are of the best quality. This creates a demand for good quality cannabis seeds. Hence, increased medicinal use of cannabis acts as a driver for the cannabis seeds market. The trading, manufacturing and prescription of cannabis is a very complex process as the laws are different for every state. This acts as an obstacle for the companies and hence, the complex regulatory structure for the usage of cannabis acts as a restraint for the cannabis seeds market.
As the strains are improved, this will lead to the production of better quality cannabis and this will create more demand for good quality seeds. Hence, novel product development acts as an opportunity for the cannabis seeds market. It can be seen that the black market for marijuana still holds an upper hand even with the legalization of marijuana for recreational purposes. This acts as a problem for the legal marijuana market as the growers will not take the good quality seeds from the authentic sources and hence, the rise of marijuana black market acts as a challenge for the cannabis seeds market.
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The Asia-Pacific Cannabis Seeds Market Size
The cannabis seeds market is segmented into six notable segments which are bifurcated on the basis of seed type, strain, compound, category, distribution channel and type of vendors. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of seed type, the cannabis seeds market is segmented into regular seeds, feminized seeds and autoflowering seeds. In 2020, feminized seeds segment is dominating the cannabis seeds market as majority of the companies are manufacturing regular seeds and also they don’t require many effort and are easy to grow.
- On the basis of strain, the cannabis seeds market is segmented into indica, hybrid and sativa. In 2020, indica segment is dominating the market as the majority of the manufacturers have strains of indica and it is preferred more by people.
- On the basis of compound, the cannabis seeds market is segmented into THC dominant, CBD dominant and balanced THC CBD. In 2020, the THC dominant segment is dominating because THC is the psychoactive element of cannabis and it is highly required for medicinal purposes.
- On the basis of category, the cannabis seeds market is segmented into inorganic and organic. In 2020, inorganic segment is dominating as inorganic agriculture is increasing but in future the organic segment is set to increase as people are shifting towards organic products and also inorganic farming makes use of chemicals which may not be good for health.
- On the basis of distribution channel, the cannabis seeds market is segmented into store based retailing and online/e-commerce retailing. In 2020, store based retailing segment is dominating as people find it easy to purchase from stores and they can check the quality of products they are purchasing.
- On the basis of type of vendors, the cannabis seeds market is segmented into resellers, breeders and seeds manufacturing companies. In 2020, resellers segment is dominating as there is large number of resellers as compared to breeders and seeds companies.
The Asia-Pacific Cannabis Seeds Market Country Level Analysis
Asia-Pacific cannabis seeds market is analysed and market size information is provided by the country, seed type, strain, compound, category, distribution channel and type of vendors as referenced above.
The countries covered in the Asia-Pacific cannabis seeds market report are China, Japan, India, Australia, Rest of Asia-Pacific.
China is dominating in the Asia-Pacific cannabis seeds market since the demand for the cannabis seeds are more in the country as the country is legalized for medicinal and recreational use.
The country section of the cannabis seeds market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Asia-Pacific Cannabis Seeds Market Share Analysis
The cannabis seeds 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, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and source lifeline curve. The above data points provided are only related to the company’s focus related to cannabis seeds market.
Key Players Asia-Pacific Cannabis Seeds Market
The major player covered in the Asia-Pacific cannabis seeds market report is Green House Seed Co. among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the cannabis seeds market.
Asia-Pacific Cannabis Seeds Market Report Answers the Following Questions:
- How much revenue will the Asia-Pacific Cannabis Seeds Market generate by the end of the forecast period?
- Which market segment is expected to have the maximum market share?
- What are the influencing factors and their impact on the Asia-Pacific Cannabis Seeds Market?
- Which regions are currently contributing the maximum share of the overall Asia-Pacific Cannabis Seeds Market?
- What indicators are likely to stimulate the Global Identity Document (ID) Barcode Reading in the Factory Automation Market?
- What are the main strategies of the major players in the Asia-Pacific Cannabis Seeds Market to expand their geographic presence?
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A market research study of the first class Asia-Pacific Cannabis Seeds Market market report helps businesses in gaining knowledge about what is already there in the market, what market looks forward to, the competitive background and steps to take to outshine the rivals. This report leads to systematic problem analysis, model building and fact-finding for the purpose of decision-making and control in the marketing of goods and services. This market report searches and analyses data which are relevant to marketing problems. By completely understanding the client's requirements and following them strictly, the Asia-Pacific Cannabis Seeds Market research report has been structured.
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