CBD Plant Nutrients Market Size was valued at USD 0.15 Billion in 2022. The CBD Plant Nutrients market industry is projected to grow from USD 0.22 Billion in 2023 to USD 5.25 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 48.46% during the forecast period (2023 - 2032). Growing adoption of CBD (cannabidiol) across applications such as clinical, beverages, skin improvement, and others are the key market drivers enhancing the growth of the studied market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The growing adoption of CBD across various applications and the rise in R&D-related activities is driving Market CAGR for CBD plant nutrients. The macro- and micronutrients in CBD plant nutrients are crucial for a plant's healthy growth and excellent output. These nutrients help the CBD plant develop more robustly overall. Due to the legalization of CBD in most countries, the market for CBD plant nutrients is expanding rapidly. As a result, the need for CBD nutrition has grown significantly during the past few years. CBD's nutritional needs are compared to those of maize, which has a high demand for potassium and nitrogen throughout much of its life cycle. This has increased the demand for these minerals from cannabis growers.
Due to their success in treating a number of chronic ailments, CBD plant nutrients are in great demand in the pharmaceutical sector. They are gradually being applied in the cosmetics sector as well. The approval of hemp farming in the majority of the world's nations is anticipated to aid in the expansion of the market. Additionally, the ongoing study of cannabinoids and the advancement of cannabis law in Asian nations are predicted to create prosperous expansion prospects for CBD growers.
CBD plant nutrients are in high demand in the pharmaceutical industry as a result of their success in treating a range of chronic illnesses. The cosmetics industry is gradually implementing them as well. It is projected that the approval of hemp farming in the vast majority of countries would aid in the growth of the worldwide market. Additionally, CBD farmers are expected to benefit from the ongoing research into cannabinoids and the development of cannabis legalization in Asian countries.
CBD plant nutrition is experiencing phenomenal market expansion. Because more fertilizers are being used on plants, it is harmful to people. The crop yield has grown as a result. Therefore, the treatment for chronic illness uses both macronutrients and micronutrients. Even so, it has generated expansion prospects for the CBD Plant Nutrients Market. Thus, driving the CBD Plant Nutrients market revenue.
The CBD Plant Nutrients market segmentation, based on type, includes macronutrients, and micronutrients. The market share that belonged to macronutrients segment was highest. At every stage of the development of the CBD plant, macronutrients are crucial. However, different phases need for various NPK ratio combinations. The main force behind macronutrient demand is hemp's high yield and high requirement for nitrogen and potassium for growth. However, it is anticipated that the micronutrients category would exhibit a greater CAGR throughout the forecast period. The growing understanding of the advantages of micronutrients on yield is anticipated to aid in the segment's expansion.
Based on category, the CBD Plant Nutrients market segmentation includes Organic, and Conventional. The conventional segment accounted for the greatest market share, mostly as a result of conventional agricultural methods. The increased consumer desire for organic food and products, however, is expected to increase the CAGR for the organic segment.
The CBD Plant Nutrients market segmentation, based on the mode of application, includes drenching, fertigation, and foliar. The highest percentage share was held by fertigation segment, followed by drenching. An automatic nutrient injection device that works with any irrigation system is called fertilization. The automation is precise and shortens the time required to mix nutrients, allowing cultivators to focus more on the plants themselves.
Figure 1: CBD Plant Nutrients Market, by Mode of Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. During the projected period, the North American CBD Plant Nutrients market is expected to dominate over the course of the forecasted period. The market is growing due to rising consumer awareness of cannabis' enhanced benefits.
Further, the major countries studied in the market report are The US, Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CBD PLANT NUTRIENTS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Asia Pacific CBD Plant Nutrients market accounts for the fastest market share. Due to reasons including greater CBD legalization in numerous nations and pro-CBD government actions by Thailand, South Korea, and Australia, the region's CBD pet sector is growing. Moreover, Australia’s CBD Plant Nutrients market held the largest market share, and the South Korean CBD Plant Nutrients market was the quickest-growing market in the Asia-Pacific region.
The Europe CBD Plant Nutrients Market is expected to expand at the quickest CAGR from 2023 to 2032. Growth in the healthcare industry and technological developments in cannabidiol (CBD) medicinal treatments are additional factors propelling the European region. Further, the Canada CBD Plant Nutrients market was the fastest-growing region in the market, and the German CBD Plant Nutrients market held a substantial share of the market.
Leading market players are investing capital and resources across research and development in order to extend their product offerings, this is expected to help the CBD Plant Nutrients market, grow even more. Market leaders and manufacturers are also adopting various strategies to expand their worldwide footprint, with important market developments including new product developments & launches, contracts & agreements, mergers & acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, CBD Plant Nutrients industry must offer cost-effective items.
The manufacturers are making use of locally available resources to minimize the production costs which will aid the growth of the CBD Plant Nutrients industry to benefit clients and increase the market sector. In recent years, the CBD Plant Nutrients industry has offered some of the most significant advantages to medicine. Major players in the CBD Plant Nutrients market, including EuroChem Group, Sociedad Química 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, and others, are attempting to increase market demand by investing in research and development operations.
Nitrogen and hydrogen products are produced and distributed by CF Industries Holdings Inc (CF Industries) for use in fertilizer, reducing emissions, and other industrial purposes. In addition to ammonia, the company also sells granular urea, urea ammonium nitrate solution (UAN), ammonium nitrate, diesel exhaust fluid (DEF), urea liquor, nitric acid, and aqua ammonia. It offers the goods for sale to cooperatives, independent fertilizer dealers, farmers, and commercial customers. The business maintains distribution centers in the UK, Canada, and the US. The business also exports nitrogen fertilizer goods from its production sites in Billingham, the UK, Yazoo City, Mississippi, and Donaldsonville, Louisiana. The US city of Deerfield, Illinois, is home to CF Industries' main office. In May 2023, By producing and distributing low-carbon nitrogen fertilizer, CF Industries is collaborating with CHS Inc. to hasten the decrease of agricultural and food system greenhouse gas (GHG) emissions. As a component of the U.S.-UAE Agriculture Innovation Mission for Climate (AIM for Climate) program, which aims to spur worldwide innovation in climate-smart agriculture, this initiative was created.
Pharmaceuticals and consumer wellness are the two primary business divisions of the pharmaceutical technology company Innocan Pharma. Innocan focuses on creating cutting-edge drug delivery platform technologies using the science of cannabinoids in the pharmaceuticals sector in order to treat a variety of illnesses and enhance patients' quality of life. Innocan creates and produces a diverse range of cutting-edge self-care products to support healthy living in the consumer wellness industry. Innocan has created a joint venture within this section called BI Sky Ltd., which specializes in creating sophisticated targeted online sales. In June 2020, A funded research partnership between Ramot at TAU and InnoCan Pharma Ltd. of Herzliya, Israel, was announced by InnoCan Pharma Corporation. This arrangement aims to establish a ground-breaking novel method of treating COVID-19 by employing cannabidiol (CBD) loaded exosomes ("CLX").
CBD Plant Nutrients Industry Developments
January 2023: The US Food and Drug Administration formed a high-level internal working group to examine potential regulatory avenues for CBD products in light of the expanding market for cannabidiol (CBD) products.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.15 Billion |
| Market Size 2023 | USD 0.22 Billion |
| Market Size 2032 | USD 5.25 Billion |
| Compound Annual Growth Rate (CAGR) | 48.46% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Category, Mode of Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | EuroChem Group, Sociedad Química y Minera de Chile, Nutrien Ltd., CF Industries Holdings, Inc., ZuariAgroChemicals Ltd., PhosAgro, Haifa Chemicals Ltd., The Mosaic Company |
| Key Market Opportunities | Rise in research & development activities for CBD |
| Key Market Dynamics | Growing use of CBD across various applications |
CBD Plant Nutrients Market Highlights:
Frequently Asked Questions (FAQ) :
The CBD Plant Nutrients market size was valued at USD 0.15 Billion in 2022.
The market is projected to grow at a CAGR of 48.46% during the forecast period, 2023-2032.
North America had the largest share of the market
The key players in the market are EuroChem Group, Sociedad Química y Minera de Chile, Nutrien Ltd., CF Industries Holdings, Inc., ZuariAgroChemicals Ltd., PhosAgro, Haifa Chemicals Ltd., The Mosaic Company)
The macronutrients category dominated the market in 2022.
The conventional had the largest share in the market.
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