The global cannabis seed market is projected to undergo remarkable growth, increasing from $1.3 billion in 2021 and $2.15 billion in 2024, to an estimated $6.5 billion by 2031, reflecting a compound annual growth rate (CAGR) of 18.4%.
This forecast, highlighted in a recent report by Allied Market Research, underscores a shift in consumer behavior driven by evolving legal frameworks worldwide.
The rising demand for cannabis seeds can be attributed largely to the modernization of laws permitting their sale and cultivation, states the report. A notable example is Germany, which began allowing adults to cultivate up to three cannabis plants in their homes on April 1, 2024. A YouGov poll shows that 7% of respondents have already bought cannabis seeds or clones since legalization, while another 11% plan to do so in the future. The resulting surge in demand has significantly boosted sales at seed banks across Europe.
“Region wise, North America dominated the cannabis seeds market trends with the largest share during the forecast period”, notes the report. “The majority of the states in the U.S. have either legalized or decriminalized cannabis, and have allowed consumers to purchase and grow cannabis at their discretion. Many consumers averse to purchasing cannabis from stores have started growing their own cannabis to ensure the products’ quality and freshness.”
Recent findings from a survey by The Harris Poll indicate that 61% of cannabis cultivators prefer starting their gardens with seeds. The study also revealed that 81% of cannabis consumers believe all Americans should have the right to grow cannabis at home, while 62% would rather grow their cannabis than purchase it. Moreover, 34% of home growers feel more secure consuming their own home-grown cannabis compared to store-bought options.
The types of seeds in the market include feminized, regular, and autoflowering varieties, with “regular seeds” leading the market.
For more information on this report, click here.
