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PALM BEACH, Fla., Dec. 21, 2022 /PRNewswire/ -- The global cannabis cultivation market has grown significantly during the COVID-19 pandemic. The demand for hemp is rapidly growing, as many developed countries have legalized the cultivation and processing of hemp after recognizing the levels of CBD present in it, which is leading to an increased demand for hemp extracts for various applications in several sectors, including pharmaceuticals, cosmetics, nutraceuticals, and food & beverage. Hemp is regarded as an agricultural commodity produced in over 40 countries. A report from Grand View Research projected that the global cannabis cultivation market size, which was valued at USD 323.9 billion in 2021 is expected to expand at a compound annual growth rate (CAGR) of 21.4% from 2022 to 2030. The report said: "Growing legalization and the adoption of cannabis for the treatment of chronic diseases are the key factors driving the growth of the market. In addition, the liberalization of laws related to cannabis cultivation, especially for hemp cultivation by various countries due to low THC content is further increasing its adoption. Furthermore, the legalization of marijuana in various geographies and its increasing adoption for medical purposes are factors driving the market for cannabis cultivation… And that figure is certain to climb as more individuals come around to the concept of legalizing marijuana across the U.S." Active Cannabis stocks in news today include: CannaPharmaRx, Inc. (OTCPK:CPMD), Trulieve Cannabis Corp. (OTCQX: TCNNF) (CSE: TRUL), Curaleaf Holdings, Inc. (OTCQX:CURLF) (CNSX:CURA.CN), Tilray Brands, Inc. (NASDAQ:TLRY) (TSX:TLRY.TO), Aurora Cannabis Inc. (NASDAQ:ACB) (TSX:ACB.TO).
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