Cannabis Lighting Market Size (2024 - 2029)

Cannabis Lighting Market Analysis

The cannabis lighting market is expected to grow at a CAGR of 7.6% over the forecast period. The cannabis market has been driven by an increase in interest in the medical use of cannabis for patient treatment, accompanied by a scientific interest in the medical use of cannabis plants. As a result, growing indoor cannabis has experienced a positive impact, driving the cannabis lighting business. For example, the NHS in England authorized two cannabis-based medicines to treat epilepsy and multiple sclerosis.

• Increased patient interest in the medical usage of cannabis has been accompanied by a scientific interest in the medical use of cannabis plants, which has driven the cannabis market. As a result, the cannabis lighting market has grown.
• Increased patient interest in the medical use of cannabis has been accompanied by a scientific interest in the medical use of cannabis plants which has driven the cannabis market. This, in turn, has increased the indoor cultivation of cannabis, which drives the cannabis lighting market.
• In December 2021, Pfizer, an American multinational pharmaceutical and biotechnology corporation, entered the medical cannabis industry in the hopes of developing a promising cannabinoid-based bowel disease treatment. Arena Pharmaceuticals, a clinical-stage company, and the company signed an agreement for a total equity value of around USD 6.7 billion.
• Moreover, the increasing phase of the second legalization of cannabis, which states that cannabis-based products such as edibles, extracts, and topicals are expected to be commercialized, is expected to increase the cultivation of cannabis, which in turn, will drive the cannabis lighting market during the forecast period.
• Further, with legislation moving rapidly, the cannabis industry in Europe has already received positive feedback in 2021. The first patients were treated as part of a pilot medical program in France. Switzerland has adopted new medical cannabis regulations that have made it easier for patients to obtain it. It was to legalize the sale of adult-use cannabis under pilot programs by May 15, 2021. Portugal, too, approved its first medical cannabis product for marketing.
• However, since LEDs are more efficient than HIDs, less wattage means less heat is emitted in the area, potentially lowering HVAC loads and operating costs for cannabis growers. The high cost of indoor cannabis growing, on the other hand, is likely to stifle market expansion during the forecast period.

Cannabis Lighting Industry Segmentation

Cannabis can be seen in several forms, and the health advantages of cannabis are increasing. Lighting is crucial during cannabis cultivation, whether indoor or outdoor. The light cycle for flowering cannabis directly correlates to a crop's quality and overall yield. Cannabis is a photosensitive plant, which means that the amount of light it receives in 24 hours causes it to respond. There are different types of Lighting Technology such as Light Emitting Diodes (LEDs), T5 High Output Fluorescent Light, Ceramic Metal Halide Light, Compact Fluorescent Light, and Magnetic Induction Light that include different Applications such as Greenhouse, Indoor, Vertical Farming, multiple geographies. The impact of Covid-19 on the market and affected segments are also covered under the scope of the study.