The global cannabis seed market is expected to experience substantial growth over the coming years, with a projected value of $6.5 billion by 2031, according to Allied Market Research. As Cannabis & Tech reported, the market was valued at $1.3 billion in 2021 with the sector’s compound annual growth rate estimated at 18.4%.
Global Market Tailwind
This expansion is fueled by changing legislation worldwide, making cannabis seeds more accessible. In Germany, where laws now allow adults to cultivate up to three cannabis plants at home, consumer demand is rising. A YouGov poll revealed that 7% of respondents in Germany have already purchased cannabis seeds or clones since legalization, and an additional 11% plan to do so in the future. The surge in demand has positively impacted European seed banks.
In the U.S., where 24 states and Washington D.C. have legalized adult-use cannabis, home cultivation is also gaining traction. Following the DEA’s clarification in 2022 that cannabis seeds are legal under U.S. law due to their low THC content, seed sales have experienced significant growth. Seeds are classified as hemp under the 2018 Farm Bill, making them legal nationwide.
Seeds: The Top Choice For Cultivation
A Harris Poll survey indicates that 61% cannabis cultivators prefer to grow their plants from seeds. Additionally, 81% of consumers believe all Americans should have the right to grow cannabis at home and 62% say they would rather cultivate their own plants than purchase marijuana from a store. Of those who have grown cannabis at home, 34% cited feeling safer consuming home-grown flower compared to store-bought products.
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