Rising Use of Cannabis for Medicinal and Therapeutic Purposes
According to our latest market study on “Cannabis Seeds Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Regular Seeds, Feminized Seeds, and Autoflowering Seeds), Category (Organic and Conventional), Strain (Hybrid, Sativa, and Indica), and Distribution Channel (Specialty Stores, Online Retail, and Others),” the market was valued at US$ 1,217.4 million in 2020 and is projected to reach US$ 4,642.6 million by 2028; it is expected to grow at a CAGR of 18.7% from 2021 to 2028.
Cannabis is a genus of flowering plants in the Cannabaceaem family. Cannabis seeds are rich in protein; fiber; and healthful fatty acids, such as omega-3s and omega-6s. The seeds are high in arginine (amino acid) and gamma-linolenic acid (fatty acid) content. These substances help reduce the risk of heart diseases, cure chronic pain, and improve neurological and other conditions. Other nutrients found in these seeds are calcium, potassium, vitamin E, sulphur, phosphorous, magnesium, and zinc. These are rich in vitamin E and can be eaten by those who are unable to tolerate nuts, gluten, lactose, or sugar. The rising demand for cannabis from the medical industry and for recreational use drive the growth of the cannabis seeds market.
The medical application of cannabis is witnessing tremendous growth as consumers are becoming more aware of the medicinal benefits of cannabis. Cannabis helps cure chronic pain and improves neurological and other conditions. It also helps with chemotherapy-induced nausea and vomiting. Nausea and vomiting associated with chemotherapy are a significant burden for affected patients. Cannabinoids have been shown to be useful as antiemetics for cancer patients undergoing chemotherapy. While the exact mechanisms of action are not well understood, researchers believe that the ability of cannabinoids to act on non-serotonergic receptors such as the CB1 receptor is responsible for their ability to delay nausea and vomiting in patients. In addition, cannabis has been used as a possible treatment for several neurological disorders, including epilepsy, amyotrophic lateral sclerosis (ALS), Huntington's disease, Parkinson's disease, dementia, and traumatic brain injury.
Moreover, cannabis seeds boost the immune system, help eliminate toxins, and aid in the healing process. Cannabis seeds are high in omega-3 and omega-6 fatty acids, which are beneficial for health. Moreover, they have a high concentration of vitamin E, minerals, trace elements (such as zinc, iron, magnesium, calcium, and phosphorus), digestive fiber, antioxidants, chlorophyll, and immune-boosting secondary plant substances. Cannabis seeds contain a variety of compounds that are good for heart health. One of these compounds, the amino acid arginine, is known to help improve blood flow in the body and help maintain optimal blood pressure. Nitric oxide, which is derived from compounds found in these seeds, is also responsible for helping to relax the muscles of the body and widen the blood vessels to allow free blood flow. The seeds can help lower blood pressure significantly and reduce the likelihood of blood clots and provide speedy recovery from a heart attack. Whole cannabis seeds can aid digestive health, owing to the soluble and insoluble fiber contained in the seeds. Thus, the rising use of cannabis for medicinal and therapeutic purposes has increased the demand for cannabis seeds, driving the cannabis seeds market.
A few key players operating in the cannabis seeds market are Christiania Seeds, Barney’s Souvenirs Bv, Mountain Top Seed Bank, Paradise Seeds Family, Seed Supreme, Sensi Seeds, Serious Seeds, Sweet Seeds, The Seed Cellar, and Dutch Passion.
Impact of COVID-19 Pandemic on Cannabis Seeds Market
The ongoing COVID-19 pandemic has had a relatively moderate impact on the cannabis seeds market. For instance, according to the 2021 World Drug Report, during the pandemic in 2020, more than half (56%) of people who had used cannabis in the past 12 months said that they had used the same amount of cannabis before the pandemic. Almost a third (31%) of cannabis users aged 24 and under reported using more cannabis than those aged 25 and above (19%).
The pandemic helped to develop more awareness and interest in the medical sector of cannabis. Various research has also been carried out during the COVID-19 pandemic, which focuses on the use of cannabis for the treatment of COVID-19. For instance, cannabis has shown great potential in the fight against COVID-19, largely due to its anti-inflammatory properties. The study published recently in Aging shows that cannabis could significantly improve the condition of COVID-19 patients by reducing a cytokine storm and protecting lung tissue from inflammatory damage. Research also shows that cannabis and its compounds have other important therapeutic properties, such as pain relief and anxiety reduction. While these may provide treatment to COVID-19 patients, more research into cannabis's pain-relieving and anxiety-reducing qualities on COVID-19 patients is required before any conclusions. Along with this, a lot of countries during this pandemic have been hit with tax shortfalls. The government of countries are looking for various sources of tax income. A potential source of tax income can be the legalization of cannabis, which could become progressively engaging. An increase in the sale of cannabis by legal sellers would provide a potential tax income gain in the coming years.
Cannabis Seeds Market Breakdown – by Region, 2020
Cannabis Seeds Market to Grow at a CAGR of 18.7% to reach US$ 4,642.6 million from 2021 to 2028
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Cannabis Seeds Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Regular Seeds, Feminized Seeds, and Autoflowering Seeds), Category (Organic and Conventional), Strain (Hybrid, Sativa, and Indica), and Distribution Channel (Wholesalers and Distributors, Specialty Stores, and Online Retail)
Cannabis Seeds Market to Grow at a CAGR of 18.7% to reach US$ 4,642.6 million from 2021 to 2028
Download Free SampleCannabis Seeds Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Regular Seeds, Feminized Seeds, and Autoflowering Seeds), Category (Organic and Conventional), Strain (Hybrid, Sativa, and Indica), and Distribution Channel (Wholesalers and Distributors, Specialty Stores, and Online Retail)
The report segments the cannabis seeds market as follows:
Based on type, the cannabis seeds market is segmented into regular seeds, feminized seeds, and autoflowering seeds. Based on category, the market is bifurcated into organic and conventional. Based on strain, the cannabis seeds market is segmented into hybrid, sativa, and indica. Based on distribution channel, the market is segmented into wholesalers and distributors, specialty stores, and online retail. Based on geography, the cannabis seeds market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).
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