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Worldwide Horticultural Grow Light Industry to 2031 – Rising Need Among Food Producers to Adopt Advanced Farming Methods is Driving Growth – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Horticultural Grow Light Market Analysis 2021-2031” report has been added to ResearchAndMarkets.com’s offering.

The global horticultural grow light market is anticipated to grow with a CAGR of 18.4% during the forecast period, i.e., 2022 – 2031.

The market is estimated to garner a revenue of near to USD 39250 Million by the end of 2031, up from a revenue of about USD 7280 Million in the year 2021.

Companies Mentioned

  • Signify Holding (Philips)
  • Fluence Bioengineering Inc.
  • GE Lighting (SAVANT TECHNOLOGIES LLC)
  • Hubbell Incorporated
  • California Lightworks
  • Gavita International B.V.
  • Heliospectra AB
  • Valoya
  • LumiGrow Inc.
  • Hortilux Schreder
  • Lemnis Oreon BV
  • Black Dog Grow Technologies Inc.
  • Agnetix
  • Thrive Agritech
  • Hyperion Grow Lights Limited
  • Hydrofarm Holdings Group Inc.
  • MechaTronix Co. Ltd.
  • Felio Sylvania Group
  • SANANBIO
  • PL Light Systems
  • Tungsram Operations Ltd.
  • ams-OSRAM International GmbH
  • Lumileds Holding B.V.
  • Cree LED (SMART Global Holdings Inc.)
  • SAMSUNG
  • Bridgelux Inc.
  • Luminus Inc.

Factors such as the surge in government initiatives that are aimed to promote the adoption of controlled environment agriculture (CEA) practices, along with the growing need amongst the producers of food to adopt advanced farming methods, and the increasing demand for different types of food crops globally, and therefore the need amongst the food producers to adopt sustainable production processes are projected to drive the growth of the market.

The global horticultural grow light market is segmented into numerous segments which include segmentation by product, application, connection, technology, watt, cultivated plant, distribution channel, and by region. By cultivated plant, the market is segmented into fruits & vegetables, floriculture, cannabis, crops, and others. The fruits & vegetables segment, out of all the other segments, is projected to garner the largest revenue of more than USD 30340 Million by the end of 2031. Additionally, in the year 2021, the segment generated a revenue of over USD 5670 Million.

On the basis of regional analysis, the global horticultural grow light market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The market in the Asia Pacific, out of the market in all the other regions, is projected to garner the largest revenue of around USD 18090 Million by the end of 2031. Additionally, in the year 2021, the market in the region generated a revenue of close to USD 3420 Million.

Key Topics Covered:

1. Market Definition

2. Assumptions and Acronyms

3. Research Methodology

4. Executive Summary – Global Horticultural Grow Light Market

5. Market Dynamics

5.1. Drivers

5.2. Trends

6. Key Market Opportunities

7. Major Roadblocks for the Market Growth

8. Regulatory & Standards Landscape

9. Industry Risk Analysis

10. Market Attractiveness Analysis

11. Technological Outlook

12. Horticulture Grow Light Market Ecosystem

13. Value Chain Analysis

14. Raw Material Analysis

15. Customer Preference Analysis

16. Industry Growth Outlook

17. Impact of COVID-19 on the Horticulture Grow Light Market

18. Cost Analysis

19. Competitive Positioning

19.1. Horticulture Grow Light Products (LED Fixture)

19.2. LED Chip

20. Competitive Structure

20.1. Market Share Analysis

20.2. Competitive Benchmarking

20.3. Company Profiles – Horticulture Grow Light Products (LED Fixture)

21. Global Horticulture Grow Light Market

21.1. Market Overview

21.2. Market Size (2021-2031)

21.3. Market Segmentation

21.3.1. By Product Offering

21.3.2. By Application

21.3.3. By Connection

21.3.4. By Technology

21.3.5. By Watt

21.3.6. By Cultivated Plant

21.3.7. By Distribution Channel

21.3.8. By Region

22. North America Horticulture Grow Light Market

23. Europe Horticulture Grow Light Market

24. Asia Pacific Horticulture Grow Light Market

25. Rest of the World Horticulture Grow Light Market

For more information about this report visit https://www.researchandmarkets.com/r/md3pum

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./ CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

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Columbia Care Releases First Corporate Social Responsibility Report

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Impact Report Showcases Company and Community Initiatives Across the U.S.

NEW YORK–(BUSINESS WIRE)–Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest and most experienced cultivators, manufacturers and providers of cannabis products in the U.S., announced it has released its first-ever Corporate Social Responsibility (CSR) report, Cultivate Impact. The report, which reflects on the past year, highlights local, national and industry initiatives that have made a positive impact specific to the Company’s focus areas: opportunity, inclusion, access and sustainability.

“It is our responsibility as an industry leader to create a mission-driven framework for our company and demonstrate what cannabis and its workforce can do for the world. This report just scratches the surface of how we have strived to do just that,” said Nicholas Vita, CEO and Co-founder, Columbia Care. “I am so proud of the tremendous work our teams have put in across the country to make a difference not only in the cannabis industry but also in the local communities where we operate.”

Columbia Care’s CSR work centers around four key principles: “opportunity”, which focuses on bringing social justice, education and entrepreneurship opportunities to cultivate the inclusive cannabis industry of the future; “inclusion”, which celebrates authenticity and different perspectives that drive the Company and industry forward; “access”, which is a commitment to ending stigmas and ensuring that cannabis is made available to those who need it; and “sustainability”, which creates more sustainable practices through innovation and working with environmentally-responsible partners.

“From social justice to medical accessibility and beyond, we’ve worked diligently from the local neighborhood dispensary level to a multi-state scale to help bring about positive change,” said Ngiste Abebe, VP of Public Policy, Columbia Care. “In addition to our mission-driven employees, we’ve also been really lucky to find strategic partners and vendors who have helped make this work possible. This report is just a start; we look forward to continuing this important work in the future.”

For more information, visit www.columbia.care/about-us/our-impact.

About Columbia Care

Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 17 U.S. jurisdictions. Columbia Care operates 132 facilities including 99 dispensaries and 33 cultivation and manufacturing facilities, including those under development. Columbia Care is one of the original multi-state providers of medical cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the company launched Cannabist, its new retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, Amber and Platinum Label CBD. For more information on Columbia Care, please visit www.columbia.care.

Caution Concerning Forward-Looking Statements

This press release contains certain statements that constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to the Company’s ability to execute on corporate initiatives. These forward-looking statements or information, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. These risks, uncertainties and other factors include, among others, favorable operating and economic conditions; obtaining and maintaining all required licenses and permits; favorable production levels and sustainable costs from the Company’s operations; and the level of demand for cannabis products, including the Company’s products sold by third parties. In addition, securityholders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Form 10 dated May 9, 2022, filed with the applicable securities regulatory authorities and described from time to time in documents filed by the Company with Canadian and U.S. securities regulatory authorities.

Contacts

Investor
Lee Ann Evans

Capital Markets

ir@col-care.com

Media
Lindsay Wilson

Communications

+1.978.662.2038

media@col-care.com

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Global Horticulture Lighting Market Report 2022: Strong Government Support for Controlled-Environment Agriculture (CEA) Practices and Adoption of SSL Technology Drives Growth – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Horticulture Lighting Market with COVID-19 Impact Analysis by Technology (Fluorescent, HID and LED), Application (Greenhouses, Vertical Farms, Indoor Farms), Cultivation, Lighting Type, Offering, Installation and Region – Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The global horticulture lighting market is projected to grow from USD 3.1 billion in 2022 to USD 9.4 billion by 2027; it is expected to grow at a CAGR of 24.5% from 2022 to 2027. The market has a promising growth potential due to several factors, including the technological advancements in LED technology, rising number of government initiatives to promote the adoption of CEA practices, growing demand for food owing to the continuously increasing population, and ongoing legalization of cannabis cultivation. Moreover, increasing the adoption of CEA facilities to meet the growing demand for fresh produce due to COVID-19, and increasing awareness regarding benefits provided by LED technology to grow crops through the year amid the COVID-19 pandemic could play a key role in driving the growth of the horticulture lighting market.

Rising penetration of LED lights in indoor farming due to their long lifespan, spectrum adjustability, and energy efficiency

The LED technology segment is projected to grow at the highest CAGR from 2022 to 2027 for horticulture lighting market, by technology. Energy efficiency continues to be a key factor for the adoption of LED technology in the horticulture sector, along with additional benefits in the form of low heat, long lifespan, light weight, and enhanced controllability. This is expected to boost their adoption across various applications during the forecast period.

Fruits and vegetables is estimated to hold the largest share of the market during the forecast period

The fruits and vegetables segment is projected to account for the largest size of the horticulture lighting market from 2022 to 2027, by cultivation. Increasing demand for quick and fresh horticultural produce owing to population growth and loss of arable land is a key factor driving the growth of this segment of the market. The surging number of vertical farms and greenhouses is also expected to contribute to the growth of this segment of the market.

Asia Pacific is projected to become the fastest geographical market between 2022 and 2027

APAC is projected to grow at the highest CAGR for horticulture lighting market during the forecast period. The growth of the market in this region can be attributed to its continuously increasing population, which leads to rising demand for food from APAC. This has led to an increase in the adoption of advanced farming technologies such as CEA to enable the supply of fresh fruits and vegetables throughout the year. Moreover, high pressure on cultivators to improve agricultural yields with limited available resources and increased requirements to protect crops from unexpected climatic changes are also contributing to the adoption of horticulture lighting in APAC during the forecast period.

Market Dynamics

Drivers

  • Strong Government Support for Controlled-Environment Agriculture (CEA) Practices and Adoption of SSL Technology
  • Heightened Demand for Fresh Food and Loss of Arable Land
  • Increased Investments in Vertical Farms and Greenhouses, Along with Legalization of Cannabis Cultivation
  • Extensive Deployment of Led Fixtures in Controlled Agricultural Environment
  • Widespread Use of Automated and Energy-Efficient Lighting Fixtures to Minimize Energy Costs and Regulate Plant Growth

Restraints

  • High Setup and Installation Costs of Led Horticulture Lights
  • Complex Requirement for Varied Light Spectra for Different Crops

Opportunities

  • Consolidating Trend of Farm-To-Table Concept
  • Promising Growth Opportunities for Vertical Farming Offered by Asian and Middle Eastern Markets
  • Year-Round Crop Production, Irrespective of Weather Conditions
  • Gradual Emergence of Horticulture Lighting Software and Calculators

Challenges

  • Complexities Associated with Deployment of Controlled Environment Agriculture Technology in Large Fields and High Need for Technical Know-How
  • Lack of Standard Testing Practices for Accessing Product Quality of Horticulture Lights and Their Fixtures
  • Effective Integration of Different Components and Technologies Used in CEA Facilities

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Horticulture Lighting Market, by Application

7 Horticulture Lighting Market, by Installation Type

8 Horticulture Lighting Market, by Lighting Type

9 Horticulture Lighting Market, by Offering

10 Horticulture Lighting Market, by Cultivation Type

11 Horticulture Lighting Market, by Technology

12 Geographic Analysis

13 Competitive Landscape

14 Company Profiles

15 Appendix

Companies Mentioned

  • Signify
  • Gavita International B.V.
  • Heliospectra Ab
  • Osram (Part of Ams Ag)
  • California Lightworks
  • Analyst’s View
  • Valoya
  • Lumigrow, Inc.
  • Hortilux Schreder (Dool Industries)
  • Eye Hortilux (An Eye Lighting Division)
  • Iluminar Lighting
  • GE Current, a Daintree Company
  • Parsource
  • GE Lighting, a Savant Company
  • Hubbell
  • Agrolux
  • Econolux
  • Oreon
  • Glaciallight – Lighting Division of Glacialtech
  • Black Dog Grow Technologies Inc.
  • Viparspectra
  • Active Grow LLC
  • Agnetix
  • Thrive Agritech
  • Bridgelux
  • Kroptek

For more information about this report visit https://www.researchandmarkets.com/r/84p5d4

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T. Office Hours Call 1-917-300-0470

For U.S./ CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

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Wellbeing Subsidiary KGK Science Awarded Cannabis Research License from Health Canada

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The Research License greatly reduces the timelines required for conducting cannabis research as it eliminates the need for obtaining a project specific cannabis research license

VANCOUVER, British Columbia–(BUSINESS WIRE)–$KONEF #psychedelics–Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics as supported by clinical research, announced today that its wholly owned subsidiary KGK Science Inc. (“KGK”), has been awarded an institution wide cannabis research license (the “Research License”) for their new state-of-the-art facility by Health Canada under the Cannabis Act and Cannabis Regulations, allowing the Company to possess cannabis for the purpose of research and development (“R&D”).

The Research License greatly reduces the timelines required for conducting cannabis research and facilitates the ability for KGK to apply for cannabis import permits without first having to obtain project-specific research licenses.

“The Research License allows KGK to conduct clinical trials investigating cannabis for both non-therapeutic and therapeutic purposes, as well as on-site sensory assessments of cannabis products, without having to obtain project specific cannabis research licenses, ultimately accelerating our research programs and reducing the time to market,” added Najla Guthrie, CEO of Wellbeing Digital and KGK Science.

ABOUT KGK SCIENCE

Subsidiary of Wellbeing Digital Sciences, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on nutraceutical and emerging health care products. Founded in 1997, the business has successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. Furthermore, the company has produced over 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database and collected 10 million data points. For additional information, please visit kgkscience.com.

ABOUT WELLBEING DIGITAL SCIENCES

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical treatment solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. For additional information, please visit wellbeingdigital.co.

On behalf of:

Najla Guthrie

Chief Executive Officer

WELLBEING DIGITAL SCIENCES

Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

Contacts

Natalie Dolphin
VP of Marketing & Investment Relations

Email: ndolphin@wellbeingdigital.co
Twitter: @Wellbeing_IR

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