Research Nester published a report titled Cannabinoid Biosynthesis Market: Global Demand Analysis & Opportunity Outlook 2031which delivers a detailed overview of the global cannabinoid biosynthesis market in terms of market segmentation by type, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.

The global cannabinoid biosynthesis market is projected to grow at a CAGR of ~15% by attaining a robust revenue during the forecast period, i.e., 2022 – 2031. Factors such as, escalating legalization of the additive and the growing utilization of cannabinoids for medical and recreational purposes are anticipated to propel the growth of the market during the forecast period. Based on a report published by World Health Organization (WHO)in 2021, it was known that about 55 million individuals were suffering from dementia globally.

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Additionally, by type, the global cannabinoid biosynthesis market is segmented into CBD, CBG, THC, and others. Out of these sub-segments, the CBD segment is estimated to obtain a notable share in the market during the forecast period. The growth of the segment can be accounted to its requirement in treatment of the multiple disorders and diseases, for instance, epilepsy, dystonia, anxiety, Parkinson’s, and Crohn’s diseases.

Furthermore, the global cannabinoid biosynthesis market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the Asia Pacific region is estimated to grow at a noteworthy pace over the forecast period on the back of the growing prevalence of autoimmune disorders and significant growth in the disposable income in the region. According to the report published by the National Library of Medicine (NLM), the prevalence of depression in 2021 was stated to be 59.2% in the region.

The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.

Rising Consumption of Drugs to Foster the Growth of the Market

United Nations Office on Drugs and Crime released data in 2021 showing that about 275 million people consumed drugs worldwide.

Cannabinoids have active agents of cannabis, and marijuana, since it is synthetically acquired from those drugs. The administration of cannabinoids can be done by combusting and inhalation. In such circumstances, some people are found to absorb cannabinoids for recreational activities which are claimed to be illegal in various countries. Yet the convenient availability of related medicine is encouraging such acts. Hence, such factors are anticipated to propel the growth of the market.

However, the possibility of harmful side effects and abuse of cannabinoids for recreational activities are expected to operate as a key restraint to the growth of the global cannabinoid biosynthesis market over the forecast period.

This report also provides the existing competitive scenario of some of the key players in the global cannabinoid biosynthesis market which includes company profiling of Amyris, Inc., Willow Bioscience Inc., Cronos Group, Zymergen Inc., Constellation Brands, Inc., Jazz Pharmaceuticals plc, Canopy Growth Corporation, InMed Pharmaceuticals Inc., Hyasynth Biologicals Inc., and Renew Biopharma, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global cannabinoid biosynthesis market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.     

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