The cannabis homegrow market is expected to grow significantly in the next decade. A new report from Brightfield Group projects that the market could be worth nearly $4 billion by 2030. This would represent a major increase from the current estimated value of $1 billion.
The projected growth is driven by a number of factors, including the increasing legalization of cannabis and the growing demand for high-quality product. Homegrown cannabis is often seen as being higher quality than store-bought product, and it can also be more affordable. As more states legalize cannabis, and more people become interested in trying it, the demand for homegrow supplies is expected to increase.
The cannabis homegrow market could soar to nearly $4 billion by 2030, according to a new report from Brightfield Group.
With more and more states legalizing cannabis for recreational use, the demand for homegrowing equipment and supplies is expected to increase exponentially. Currently, only about 5% of cannabis users grow their own at home, but that number is expected to jump to 20% in the next decade.
This increase in demand will create a huge market for growers, with an estimated value of $3.7 billion by 2030. That’s a lot of green!
If you’re thinking about getting into the cannabis growing business, now is the time to do your research and start planning.
The potential for profit is huge, and there’s no better time than the present to get started.
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What is the Cannabis Homegrow Market
In the past decade, there has been a rise in the number of people growing their own cannabis at home. This is due to a number of factors, including the legalization of cannabis in some states and the increased availability of information on how to grow cannabis.
The homegrow market for cannabis is estimated to be worth billions of dollars.
This includes both legal and illegal grows. In states where cannabis is legal, the homegrow market is expected to continue to grow as more people learn about the benefits of growing their own cannabis. In addition, the homegrow market provides an alternative source of income for those who are unable or unwilling to work in the traditional workforce.
There are a number of reasons why someone might choose to grow their own cannabis at home. Some people do it for personal use, while others do it for medicinal purposes. There are also those who choose to grow their own cannabis because they believe it is better quality than what is available on the black market.
Whatever the reason, there is a growing demand for information on how to grow Cannabis at home.
If you are thinking about starting your own Cannabis grow operation at home, there are a few things you should know before getting started. First, you will need to obtain seeds or clones from a reputable source.
Once you have your seeds or clones, you will need to set up some type of growing space – this can be anything from a closet to a dedicated room in your house. Next, you will need to purchase some basic supplies like soil, pots, and nutrients. Finally, you will need to make sure that your grow space has adequate ventilation and lighting.
Growing Cannabis at home can be a fun and rewarding experience – but it’s important that you do your research before getting started!
What is the Projected Value of the Cannabis Homegrow Market by 2030
The legal cannabis homegrow market is projected to be worth $2.7 billion by 2030, according to a new report from Brightfield Group.
This is based on the assumption that federal legalization of cannabis will occur by 2025 and that states will continue to allow home cultivation.
The report says that the majority of consumers who buy cannabis for homegrowing are doing so for personal use, rather than for profit.
However, there is a growing trend of people using cannabis for medical purposes, which is projected to increase the value of the homegrow market.
Medical cannabis patients are more likely to grow their own plants or purchase them from a licensed producer, rather than buying illegally from a dispensary or dealer.
This trend is expected to continue as more states legalize medical cannabis and as the stigma surrounding its use continues to dissipate.
What Factors are Driving the Growth of the Cannabis Homegrow Market
The cannabis homegrow market is growing for a number of reasons. First, the legalization of recreational cannabis in many states has made it easier for people to grow their own at home. Second, the rise of the internet and online retail has made it easier for people to purchase equipment and supplies needed to grow cannabis at home.
Finally, the increasing availability of high-quality strains of cannabis seeds has made it possible for people to grow superior crops at home.
Credit: www.forbes.com
Conclusion
The cannabis homegrow market is expected to soar to nearly $4 billion by 2030, according to a new report from Prohibition Partners.
The report estimates that the global legal cannabis market will be worth $146.4 billion by 2025, with the homegrow market accounting for 2.7% of that total. The majority of the growth is expected to come from North America, where the legal cannabis market is projected to be worth $47.3 billion by 2025.
“As more jurisdictions legalize cannabis and as consumer demand for high-quality product increases, we expect the homegrow market to continue to grow,” said prohibition partners co-founder and CEO Steve Moore in a statement.
