The global cannabis seeds market is already a massive industry, and the worldwide market for cannabis seeds is set to experience significant growth in the coming years. According to a recent market analysis by Allied Analytics, the global cannabis seeds market is projected to reach an estimated $6.5 billion in value by 2031.
“The cannabis seeds market size was valued at $1.3 billion in 2021, and is estimated to reach $6.5 billion by 2031, growing at a CAGR of 18.4% from 2022 to 2031.” the company stated in a press release. “The region that dominated the global cannabis seeds market in 2021 was North America, and this dominance is anticipated to continue throughout the forecast period.”
Another area that is going to contribute to overall global cannabis seed sales is in Germany where adults can now cultivate up to three plants in their private residences. Adult-use cannabis cultivation is also legal in Malta and Luxembourg, as well as in Uruguay, South Africa, Canada, and in several states in the U.S.
The market analysis by Allied Analytics also determined the following:
- By nature, the conventional segment was the highest revenue contributor to the market, with $690.1 million in 2021, and is estimated to reach $3,623.2 million by 2031, with a CAGR of 18.7%.
- By type, the regular seeds segment was the highest revenue contributor to the market, with $601.2 million in 2021, and is estimated to reach $3,000.5 million by 2031, with a CAGR of 18.1%.
- Depending on distribution channel, the wholesalers and distributors segment was the highest revenue contributor to the market, with $695.5 million in 2021, and is estimated to reach $3,439.0 million by 2031, with a CAGR of 18.0%.
- Region wise, North America was the highest revenue contributor, accounting for $1,105.7 million in 2021, and is estimated to reach $4,589.0 million by 2031, with a CAGR of 16.0%.
According to the results of a separate recent survey published by New Frontier Data, 49% of people who cultivate their own cannabis turn to the internet for guidance and information. The rest of the survey participants indicated that they “lean on friends, family, or their own green thumbs.”
“Seeds are slightly more popular than clones, with 44% opting for seeds and 13% for clones—but 40% of adventurous growers use both.” New Frontier data stated. “Most growers (72%) stick to the tried-and-true soil or compost method, proving that sometimes, you just can’t beat the classics. When it comes to stocking up on supplies, 59% head to their local hardware or garden store, while others take the high-tech route, ordering from online cannabis cultivation shops (32%).
“Despite the love for DIY, many are keen on automation—74% would likely use an automated system to take the guesswork out of growing. But it’s not all smooth sailing; pests (37%) and producing top-quality buds (29%) remain the biggest headaches.” New Frontier Data also reported.