ID: MRFR/AGR/6733-CR | August 2019 | Region: Global | 111 pages
Global CBD Plant Nutrients Market is expected to register a CAGR of 28.36% to reach USD 453,208.5 Thousand by 2025. CBD plant nutrients are macro- and micro-nutrients required for the healthy growth of a plant and gain high yield. These nutrients enhance the overall growth of the CBD plant. The growth of the global CBD plant nutrients industry is majorly due to the legalization of CBD in most of the countries. Thus, the demand for CBD nutrients has increased significantly in the last few years. The nutritional requirement of CBD is considered similar to that of corn with high requirement of nitrogen and potassium in various stages of their life cycle. This has boosted the demand for these nutrients from the cultivators of cannabis.
The global CBD plant nutrients market is expected to register significant growth during the forecast period. CBD plant nutrients are fertilizers used during the hemp cultivation for CBD. Besides, the application of CBD plant nutrients is increasing in the pharmaceutical industry, owing to the increasing prevalence of chronic diseases. Also, the ongoing R&D on cannabinoid, along with the improving status of cannabis in Asian Countries, has created growth opportunities for the market players.
Global CBD Plant Nutrients Market Share, by Nutrient Type, 2025 (USD Thousand)
Sources: MRFR Analysis
The macronutrient segment is expected to be the largest, registering a substantial CAGR to reach USD 316,012.4 thousand by the end of 2025. Macronutrients are important at each stage of the CBD plant’s growth. Different phases, however, require different combinations of the NPK ratio. The high need for nitrogen and potassium resulted in high demand for macronutrients. However, the micronutrients is projected to be the fastest-growing segment during the forecast period.
Global CBD Plant Nutrients Market Share, by Region, 2018 (%)
Sources: MRFR Analysis
The Asia-Pacific CBD plant nutrients market is expected to be the largest during the forecast period. The region accounted for 40.44% of the total market share in 2018. China, Australia & New Zealand are among the major contributors to the growth of the market. The North American market also holds a prominent share of the global CBD plant nutrients industry and is projected to exhibit a significant CAGR during the forecast period. Canada is estimated to hold the majority market share during the forecast period.
The prominent players in the global CBD plant nutrients market are EuroChem Group (Switzerland), Sociedad Química y Minera de Chile (Chile), Nutrien Ltd (Canada), CF Industries Holdings, Inc (US), ZuariAgroChemicals Ltd (India), PhosAgro (Russia), Haifa Chemicals Ltd (Israel), The Mosaic Company (US), Israel Chemicals Limited (Israel), and Yara International ASA (Norway) The international players are expanding their presence worldwide through strategic acquisitions, expansion, and launching new and innovative products.
Global CBD Plant Nutrients Market, by Type
Global CBD Plant Nutrients Market, by Category
Global CBD Plant Nutrients Market, by Mode of Application
Global CBD Plant Nutrients Market, by Region
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Frequently Asked Questions (FAQ) :
CBD plant nutrients market is projected to grow at a 28.36% CAGR between 2017-2025.
CBD plant nutrients market is predicted to touch USD 453, 208.5 thousand by 2025.
The Asia Pacific is projected to lead the CBD plant nutrients market.
The macronutrient segment will have the largest share in the CBD plant nutrients market.
Strict regulations regarding CBD production through synthetic methods may limit the CBD plant nutrients market growth.