CBD Plant Nutrients Market to be worth USD 4857.8 Million by 2030 at a CAGR of 48.46% – Report by Market Research Future (MRFR)

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Information on CBD plant nutrients market size and trends by type (macronutrients and micronutrients), category (organic and conventional), mode of application (dripping, fertigation and foliar) and region (North America, Europe, Asia -Pacific and Rest of the World) – Forecast to 2030

New York, U.S., June 14, 2022 (GLOBE NEWSWIRE) — CBD Plant Nutrients Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “CBD plant nutrients market Information by Type, Category, Form, Mode of Application and Region – Forecast to 2030”, the market is expected to acquire a size of over 4857.8 million by the end of 2030. The report further predicts that the market will flourish at a healthy CAGR of over 48.46% during the period of exam.

Market scope:

Cannabis plants are sensitive to nutrition, and there is a fine line between feeding them properly and destroying them with toxins. CBD plant nutrients are important macro and micronutrients for the healthy growth and excellent yield of a plant. These nutrients improve the overall development of the plant. The basic nutrients are nitrogen, phosphorus and potassium, and the secondary nutrients are calcium and sulphur. Among the micronutrients are zinc, boron and iron. The pharmaceutical industry uses these CBD plants to treat chronic diseases. Even these nutrients are used in the cosmetics industry.

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Report Scope:

Report attribute

Details

Market size 2030

$4857.8 million

CAGR

48.46% (2022-2030)

base year

2021

Forecast period

2022-2030

Historical data

2020

Forecast units

Value (USD million)

Report cover

Revenue forecasts, competitive landscape, growth factors and trends

Segments Covered

By type, category, mode of application, region

Geographical areas covered

North America, Europe, Asia-Pacific and Rest of the World (RoW)

Key Market Drivers

Legalization of the cannabinoid (CBD) in several countries around the world

Increased application of cannabinoids (CBD) in the medical industry

Competitive dynamics:

The main market players are

  • EuroChem Group

  • Sociedad Quimica y Minera de Chile

  • Nutrien Ltd.

  • CF Industries Holdings, Inc.

  • ZuariAgroChemicals Ltd.

  • PhosAgro

  • Haifa Chemicals Ltd.

  • The Mosaic Company

  • Israel Chemicals Limited

  • Yara International ASA

  • HEXGRO

Market dynamics:

Market factors:

Due to the legality of CBD in the majority of countries, the global CBD plant nutrient market is growing at a rapid pace. Therefore, the demand for CBD nutrition has increased significantly in recent years. The nutritional requirements of CBD are comparable to those of corn, with a high demand for nitrogen and potassium at different phases of their life cycle. This has increased the need for these nutrients among cannabis growers. The evolving perspective of farmers, hemp growers and growers on hemp nutrition is the main driver of the market. The inclusion of CBD in commercial, industrial and animal foods will benefit the market.

CBD plant nutrients are in high demand in the pharmaceutical industry due to their proven effectiveness in treating multiple chronic diseases. In addition, they are used in the cosmetics sector. The legalization of hemp production in the majority of countries in the world should contribute to the expansion of the world market. Additionally, ongoing cannabinoid research and the improving position of cannabis in Asian countries should provide exciting growth opportunities for CBD cultivators.

In recent years, the demand for CBD nutrition has increased significantly. The nutritional requirements of CBD are comparable to those of corn, having a high demand for nitrogen and potassium at different phases of its life cycle. However, the growth of the global CBD plant nutrient market is mainly attributable to the support of CBD in the majority of countries. This has increased the need for these nutrients among cannabis growers. Additionally, the continued research and development of cannabinoids, along with the growing status of cannabis in Asian countries, has created new prospects for market players. accumulating data suggests that macro and micronutrients are involved in secondary metabolism. Using the proper nutritional measures, such as organic fertilizers, vitamins, and biostimulants, is a crucial part of growing cannabis plants.

Browse the in-depth (111 pages) CBD plant nutrient market research report: https://www.marketresearchfuture.com/reports/cbd-plant-nutrients-market-8205

Market Limits:

On the other hand, strict laws regarding the manufacture of CBD by synthetic methods are expected to inhibit the future expansion of the global market. Due to legal restrictions on cannabis research, little is known about the impact of nutritional supplements on the physiological and chemical characteristics of cannabis and their possible function in normalizing active chemicals in plant material delivered to patients. .

COVID-19 Analysis:

Due to the COVID outbreak, the demand for nutrients has skyrocketed. The high demand for CBD and its use in the pharmaceutical industry has prompted the manufacture of CBD plant nutrients. As it is used to treat chronic diseases, there was a need for the nutrient to treat the disease. But the lockdown limits and blocking of transport triggered the request from the pharmaceutical company. This demand in the CBD industry has increased the market value of CBD plant nutrients.

Market segmentation :

By type

In 2018, the macronutrients segment held the largest market share by type. At every stage of CBD plant development, macronutrients are essential. However, different phases require different combinations of NPK ratios. Hemp’s high growth and yield requirements for nitrogen and potassium are the primary driver of macronutrients. Nevertheless, the micronutrient segment is expected to exhibit a higher CAGR during the projection period. Improved knowledge on the benefits of micronutrients on yield is expected to contribute to the growth of the segment.

By category

In 2018, the conventional segment held the largest market share by category due to conventional farming methods. However, the organic segment is expected to have a higher CAGR owing to the growing demand for organic foods and products.

By mode of application

In 2018, the dipping segment held the largest market share. Due to the short stems of the CBD plant, this technique is used to deliver nutrients directly to the base of the stem. Growing awareness among farmers of the benefits of foliar application has led to the expansion of this market segment. Therefore, the category is expected to register the highest CAGR over the projection period.

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Regional assessment:

During the forecast period, the CBD plant nutrient market in Asia Pacific is expected to be the largest geographically. In 2018, the region accounted for 40.44% of the global market share. China, Australia, and New Zealand are among the major market growth drivers.

The North America CBD plant nutrient market accounts for a notable share of the global market and is expected to grow at a significant CAGR during the forecast period. Canada is expected to hold the largest market share over the projection period. Additionally, its widespread use has prompted hemp industry executives to expand their hemp bud cultivation facilities.

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