CBD Plant Nutrients Market Size, Share & Industry Analysis By Type (Micronutrients and Macronutrients), By Application (Fertigation, Foliar, and Others), and Regional Forecast, 2024-2032

CBD plant nutrients are macro and micro-nutrients necessary for a plant's healthy growth and high yield. Nutrients such the nitrogen, phosphorous, and potassium enhance the CBD plant's overall development. CBD consumption is increasing in the market as it helps to relieve anxiety, pain, inflammation, and depression. Thus the need for plant nutrients that boost the yield of CBD plants has increased significantly. The nutritional requirements of CBD are comparable to those of corn, requiring critical nitrogen and potassium during various stages of its life cycle. This has enlarged the need for these nutrients among cannabis growers. The inclusion of CBD in commercial, industrial, and pet food benefits the market's growth. The legalization of hemp production in most of the world's nations is anticipated to assist in expanding the global market. In addition, ongoing research on cannabinoids and improving cannabis's acceptance in Asian nations offer attractive growth opportunities for CBD cultivators.

• In 2018, the U.S. farm bill passed for the legalization of CBD products, considered one of the most supportive government policies for boosting the demand for CBD.

Impact of COVID-19 on the CBD Plant Nutrient Market 

The supply chain disruptions induced by the COVID-19 pandemic disrupted the CBD plant nutrient industry. It impacted the hemp growers as they postponed seed purchases and plant nutritional products and delayed or decreased their spring planting activities. On the demand side, the trend of stockpiling products among consumers increased significantly. The COVID-19 outbreak and disruptions in normal activities of society increased anxiety, mental health, and insomnia; CBD products were found to be effective in reducing stress levels, thereby increasing the demand for CBD products. As the trade activities were hampered, the price and availability of CBD plant nutrients significantly varied from region to region, hampering its product price in the consumer market.  

Key Insights

The report will cover the following key insights:

• Product launches by key market players


• Supply chain analysis


• Overview of CBD Plant Nutrients market


• Regulatory Analysis


• Impact of COVID-19 on the CBD Plant Nutrients Market

Analysis by Type

The macronutrient segment is expected to hold a major share as it is most popular among growers. Macronutrients are important at every stage of CBD plant growth. However, different phases require different combinations of nitrogen, phosphorus, potassium (NPK) ratios. High nitrogen and potassium requirements for hemp growth and high yields are important factors that influence the market's growth.

Analysis by Application 

The fertigation segment is anticipated to witness significant growth in the future. Fertigation is an application method in which fertilizer is injected into the crops through drip irrigation. The drip irrigation system evenly distributes the fertilizer solution during irrigation. It uses both liquid and water-soluble fertilizers, increasing fertilizer efficiency. Moreover, this application uses less water and fertilizer, thus saving time, labor, and energy required for producing CBD crops.

Regional Analysis

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The Asia Pacific region is expected to exhibit strong growth in the future, owing to the growing demand for CBD plants. Australia, China, and New Zealand are among the key contributors to the market's growth, and CBD in medicine is legal. Moreover, gluten-free, sugar-free, vegan, and organic gummies made from non-GMO hemp plants are providing further opportunities for the region's market to grow significantly.

Key Players Covered

The report will include the profiles of key players such as ZuariAgroChemicals Ltd., Haifa Chemicals Ltd., CF Industries Holdings Inc., The Mosaic Company, Sociedad Química y Minera de Chile, Yara International ASA, EuroChem Group, and others.

Segmentation

Key Industry Developments

• In December 2019, Advanced Nutrients launched three new products: True Organic Products, Advanced Hemp, and Nutrients Water Soluble Powders. It is one of the first-ever cannabis brands to employ augmented reality technology to manufacture cannabis-related products.


• In February 2019, Monty's Plant Food Company introduced nutritional products to enhance hemp production. It introduced a product named Monty's Hemp Pro to provide plant nutrition and maximize hemp production.