In 2023, the global legal cannabis market was valued at approximately USD 28.5 billion, and it is projected to reach USD 197.7 billion by 2028, exhibiting a CAGR of 32.9% during the forecast period. This surge in demand is primarily attributed to the increasing acceptance of cannabis for medical and recreational purposes.

Medical Marijuana

In the medical realm, cannabis has proven beneficial in treating various ailments, including chronic pain, nausea, and anxiety. As more research emerges, the therapeutic potential of cannabis continues to expand. In countries like Canada and the United States, medical marijuana is now widely accessible to patients with qualifying conditions.

Recreational Cannabis

Recreational cannabis use is also gaining traction. Several countries, including Uruguay, Canada, and several US states, have legalized the possession and consumption of cannabis for adults. This has created a thriving recreational market, leading to increased investment in cannabis cultivation and distribution.

Cultivation Techniques

Cannabis cultivation has evolved significantly over the years. Indoor growing facilities utilize advanced lighting, ventilation, and temperature control systems to optimize plant growth. Outdoor cultivation remains popular in areas with suitable climates, but emerging technologies like vertical farming offer space-efficient alternatives.

The future of cannabis cultivation looks promising. As legalization continues to spread, the industry is poised for further growth. Innovation in cultivation techniques, product development, and distribution channels will drive the industry forward. Despite the growing acceptance of cannabis, it is crucial to note that regulations vary by jurisdiction. Individuals should always adhere to local laws and consult with qualified professionals before getting into commercial cannabis cultivation.