According to Allied Market Research, the global cannabis seeds market is expected to grow significantly in the coming years and is expected to reach a value of $6.5 billion by 2031. As reported by Cannabis & Tech, the market is valued at $1.3 billion in 2021, and the sector's compound annual growth rate is estimated at 18.4%.
Global market tailwinds
This expansion is being fueled by changes in laws around the world that are making cannabis seeds more accessible. In Germany, it is now legal for adults to grow up to three cannabis plants at home, increasing consumer demand. A YouGov poll revealed that 7% of German respondents have already bought cannabis seeds or clones since legalization, and a further 11% plan to do so in the future. The surge in demand is having a positive impact on European seed banks.
Home cultivation is also gaining traction in the United States, where 24 states and Washington, D.C., have legalized marijuana for adult use. Seed sales increased significantly in 2022 after the DEA clarified that cannabis seeds are legal under U.S. law due to their low THC content. The 2018 Farm Bill classifies the seed as hemp, making it legal nationwide.
Seeds: the best choice for cultivation
According to the Harris Poll, 61% of cannabis growers prefer to grow plants from seeds. Additionally, 81% of consumers believe all Americans should have the right to grow marijuana at home, and 62% would rather grow their own marijuana than buy it at a store. Masu. Among those who have grown cannabis at home, 34% said they felt safer consuming home-grown flower compared to store-bought products.
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