Cannabis sativa is a versatile plant with a wide range of applications, including fiber production, pharmaceuticals, and construction materials. It is rich in phytochemicals, including cannabinoids, terpenes, and phenolic compounds, which have various biological activities. This review discusses the biosynthetic pathways of these compounds and their potential for industrial and pharmaceutical use. The plant's trichomes are important sources of secondary metabolites, and biotechnological approaches such as cell suspension and hairy root cultures are being explored to enhance the production of these compounds. The review also highlights the potential of -omics technologies to accelerate the identification and large-scale production of lead compounds from bioengineered Cannabis cell cultures. The plant's ability to produce a variety of bioactive compounds makes it a valuable resource for the bio-economy. The review emphasizes the importance of understanding the biosynthetic pathways of these compounds and the potential of genetic engineering to improve their production. The study also discusses the challenges and prospects of Cannabis biotechnology, including in vitro propagation and transformation, and the use of hairy root cultures for the production of cannabinoids. The review concludes that Cannabis has significant potential for industrial and pharmaceutical applications, and further research is needed to fully harness its potential.Cannabis sativa is a versatile plant with a wide range of applications, including fiber production, pharmaceuticals, and construction materials. It is rich in phytochemicals, including cannabinoids, terpenes, and phenolic compounds, which have various biological activities. This review discusses the biosynthetic pathways of these compounds and their potential for industrial and pharmaceutical use. The plant's trichomes are important sources of secondary metabolites, and biotechnological approaches such as cell suspension and hairy root cultures are being explored to enhance the production of these compounds. The review also highlights the potential of -omics technologies to accelerate the identification and large-scale production of lead compounds from bioengineered Cannabis cell cultures. The plant's ability to produce a variety of bioactive compounds makes it a valuable resource for the bio-economy. The review emphasizes the importance of understanding the biosynthetic pathways of these compounds and the potential of genetic engineering to improve their production. The study also discusses the challenges and prospects of Cannabis biotechnology, including in vitro propagation and transformation, and the use of hairy root cultures for the production of cannabinoids. The review concludes that Cannabis has significant potential for industrial and pharmaceutical applications, and further research is needed to fully harness its potential.