Asia-Pacific Cannabis Seeds Market – Industry Trends and Forecast to 2030

Asia-Pacific Cannabis Seeds Market, By Seed Type (Regular, Feminized, Auto Flowering), Strain (Indica, Hybrid, Sativa), Compound (Tetrahydrocannabinol (THC) Dominant, Cannabidiol (CBD) Dominant, Balanced THC and CBD), Category (Inorganic/ Conventional, Organic), Distribution Channel (Store-Based Retailing, Online/E-Commerce Retailing), Type of Vendors (Resellers, Breeders, Seeds Manufacturing Companies) - Industry Trends and Forecast to 2030.

Asia-Pacific Cannabis Seeds Market Analysis and Size

The acceptance of cannabis for both medical and recreational use has increased as a result of the wave of legalization and decriminalization initiatives that are spreading across many states. As a result, more people are looking for cannabis-related products to treat various health issues or for recreational uses. Vendors in the cannabis industry have a great opportunity to increase their market share because of this growing demand. Vendors can better serve customers' needs and preferences by providing a wide variety of high-quality cannabis seeds, giving them the genetic basis to grow cannabis plants with desired characteristics like potency, flavor, and therapeutic properties. In addition to satisfying changing consumer demands, this cannabis seed market expansion also boosts overall growth.

Data Bridge Market Research analyses that the cannabis seeds market, valued at USD 34,35,464.79 thousand in 2022, will reach USD 1,07,30,500.04 thousand by 2030, growing at a CAGR of 15.3% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Asia-Pacific Cannabis Seeds Market Scope and Segmentation  

Market Definition

The cannabis plant's tiny, spherical, hard-shelled seeds are its reproductive organs. New cannabis plants are created from these seeds, and those plants can be used for a variety of things, including medical and recreational purposes. Depending on the strain and variety of the cannabis plant, cannabis seeds come in a variety of shapes, sizes, and colors. They include all of the genetic material required to produce a new cannabis plant, including details about its flavor, aroma, potency, and effects. Depending on the local or international laws and regulations, it is possible to obtain cannabis seeds either legally or illegally.

Asia-Pacific Cannabis Seeds Market Dynamics

Drivers

• Legalization of cannabis seeds drive the market growth

There is an increasing need for cannabis seeds for both medical and recreational purposes as a result of the legalization of cannabis in many nations and regions. Cannabis seeds are more popular and more people are interested in growing their own cannabis plants as more nations legalize cannabis. A new market for cannabis seeds has also emerged as a result of the legalization of cannabis for medical purposes, and this has increased demand for premium cannabis seeds that can produce plants with particular cannabinoid and terpene profiles. The legalization of cannabis has also made it simpler for businesses to enter the market and create high-quality cannabis products, fostering more innovation and competition in the cannabis seed industry. Growing cannabis legalization is anticipated to drive the market of cannabis seeds.

• Increasing awareness creates expansion in the market

As the potential benefits of cannabis become more widely known, more people are looking for high-quality cannabis seeds that can produce plants with particular traits and effects. Specific cannabinoid and terpene profiles determine a plant's characteristics, such as flavor, aroma, and effects, there is an increase in demand for cannabis seeds that can produce plants with those characteristics. Through the development of new breeding techniques and the expansion of the cannabis market, such cannabis seeds are now more widely accessible. The demand for high-quality cannabis seeds with specific traits and effects is anticipated to rise as more people become aware of the potential benefits of cannabis and work to incorporate it into their lives.

Opportunities

• Increasing demand for high-quality cannabis seeds drives the market

With the rising market for cannabis-derived goods, the demand for high-quality cannabis seeds is also growing. Customers seek specific characteristics and effects in their cannabis products, such as pain relief and relaxation. Businesses that can produce premium seeds with desired terpene and cannabinoid profiles gain a competitive edge. Such seeds enable the cultivation of recognizable strains that attract repeat customers. Furthermore, companies developing innovative and distinctive strains establish themselves as market leaders by capturing consumer attention and preference.

• Product diversification creates expansion

The availability of diverse cannabis strains allows businesses to offer a range of products using cannabis seeds. Different cannabis strains have different physiological effects, which are explained by their different terpene and cannabinoid profiles. By creating a range of cannabis seeds with unique cannabinoid and terpene profiles, businesses can create a product portfolio that caters to a variety of consumer needs and preferences. This can include types that improve mood, reduce anxiety, ease discomfort, and promote relaxation. Additionally, diversifying product offerings can assist businesses in standing out from rivals and creating a distinctive brand identity in the marketplace.

Restraints/Challenges

• Stigma and social acceptance limit the market growth

Cannabis use is still socially stigmatized in many nations and regions despite its increasing legalization. This could reduce the market potential for cannabis products and make it more difficult to market and promote them to a larger audience. The stigma surrounding cannabis use can hinder customer adoption, necessitating efforts to destigmatize and educate potential customers. This may reduce the market's potential for growth for cannabis seeds, particularly in places where stigma is a problem. Furthermore, social stigma can make it difficult for businesses to advertise and promote their goods because it may restrict their ability to use conventional marketing channels. In general, the stigma associated with cannabis use can be a significant barrier for the cannabis seeds industry.

• Legal and regulatory barriers restrict the market growth

The cannabis industry faces complicated and ever-changing legal and regulatory restrictions. Cannabis laws can vary greatly between different nations or regions, which makes it challenging for businesses to grow and limits the market's potential growth. Regulator non-compliance can result in hefty fines or other repercussions, and obtaining licenses to operate legally can be a time-consuming and expensive process. Additionally, abrupt regulatory changes can occur, making it challenging for businesses to remain compliant and quickly adapt. The market for cannabis seeds may not be able to grow as much as it could as a result of these legal and regulatory restrictions, especially for smaller businesses that may not have the resources to deal with the complex regulatory environment.

This cannabis seeds market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cannabis seeds market contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In 2021, One of the biggest marijuana businesses in the world, Canopy Growth, completed its takeover of Supreme Cannabis Company and now owns all of the company's issued common shares. Canopy's position in the recreational market in Canada is strengthened by this acquisition. Furthermore, the $30 million in synergies expected to be realized within the next two years make this acquisition an immediate opportunity for value growth.
• In 2021, Through a partnership with MediPharm Labs, STADA Arzneimittel AG entered the medical cannabis market and will soon release six additional flower products. As part of the collaboration, MediPharm will give STADA GMP-certified medical cannabis products as well as logistical, manufacturing, and regulatory support.

Asia-Pacific Cannabis Seeds Market Scope

The cannabis seeds market is segmented on the basis of seed type, strain, compound, category, distribution channel and type of vendors. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Seed Type

• Regular
• Feminized
• Auto Flowering

Strain

• Indica
• Hybrid
• Sativa

 Compound

• Tetrahydrocannabinol (THC) Dominant
• Cannabidiol (CBD) Dominant
• Balanced THC and CBD

Category

• Inorganic/ Conventional
• Organic

 Distribution Channel

• Store Based Retailing
• Speciality stores
• Convenience Stores
• Departmental Stores
• Direct Sales
• Online/E-Commerce Retailing

 Type of Vendors

• Resellers
• Breeders
• Seeds Manufacturing Companies

Cannabis Seeds Market Regional Analysis/Insights

The cannabis seeds market is analysed and market size insights and trends are provided by seed type, strain, compound, category, distribution channel and type of vendors as referenced above.

The countries covered in the cannabis seeds market report are Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC).

China is dominating in the Asia-Pacific cannabis seeds market since the demand for the cannabis seeds are more in the country as the country is legalized for medicinal and recreational use.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Cannabis Seeds Market Share Analysis

The cannabis seeds market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cannabis seeds market.

Some of the major players operating in the cannabis seeds market are:

• Humboldt Seed Company (U.S.)
• Tropical Seeds Company (India)
• Green House Seed Co. (Netherlands)
• DeliciousSeeds (Spain)
• Christiania Seeds (Denmark)
• T.H.Seeds (Netherlands)
• Dutch Passion (Netherlands)
• The Cronos Group (Canada)
• Tilray Brands (U.S.)
• AURORA CANNABIS INC. (Canada)
• Cara Therapeutics (U.S.)
• Aruma Labs Pty Ltd (Australia)
• Medcan Australia (Australia)
• SNDL INC. (Canada)
• Sensi Seeds (Netherlands)
• Barney's Souvenirs BV (Netherlands)
• Canuk Seeds (Canada)
• CrockettFamilyFarms (U.S.)