Global CBD Plant Nutrients | Market Type, Application and Category Analysis with Forecast to 2025
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The Global CBD Plant Nutrients Market is projected to register a CAGR of 28.36% to reach USD 453,208.5 Thousand by the year 2025. CBD plant nutrients are fertilizers used during the hemp cultivation for CBD. The global CBD plant nutrients market is supposed to register substantial growth during the forecast period. Besides, the application of CBD plant nutrients is increasing in the pharmaceutical industry, owing to the rising occurrence of chronic diseases. The largest projected segment is macronutrient segment that is expected to register the significant CAGR to attain USD 316,012.4 thousand by the end of the year 2025.
Micronutrients is projected to be the fastest-growing segment during the forecast period as it is important at each stage of the CBD plant’s growth. Various phases, however, require different combinations of the NPK ratio.
The high need for nitrogen and potassium resulted in high demand for macronutrients. CBD plant nutrients are macro- and micro-nutrients required for the healthy growth of a plant and gain high yield.These nutrients boost the overall growth of the CBD plant. 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. However, he development of the global CBD plant nutrients market is majorly due to the support of CBD in most of the countries. Thus, this has boosted the demand for these nutrients from the cultivators of cannabis. Also, the ongoing R&D on cannabinoid, along with the increasing status of cannabis in Asian Countries, has generated evolution of opportunities for the market players.
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Global CBD Plant Nutrients Market has been segmented on the basis of Macronutrients micronutrients, Category, application and region. The Macronutrients is again classified into Nitrogen, Phosphorous, Potassium and others. Micronutrients has been classified into Iron, Manganese, Boron and Others. Based on category the CBD plant nutrients market has been classified into conventional and organic.
On the basis of mode of application, the market has been segmented into drenching, fertigation and foliar. Based on region, CBD Plant Nutrients Market has been segmented into different regions like North America, Europe, Asia-Pacific, Rest of the World (RoW). North America covering different countries like US, Canada and Mexico. Europe including Germany, UK, France, Spain, Italy and Rest of Europe.
Asia-Pacific including China, India, Japan, Australia & New Zealand and Rest of Asia-Pacific and rest of the world like Middle East, South America and Africa. The largest expected segment is macronutrient segment that is expected to register the significant CAGR to attain USD 316,012.4 thousand by the end of the year 2025. micronutrients is projected to be the fastest-growing segment during the forecast period as it is important at each stage of the CBD plant’s growth. Various phases, however, require different combinations of the NPK ratio. The high need for nitrogen and potassium resulted in high demand for macronutrients.
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Last Update : 24 January 2020
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