Cannabis sativa, a herbaceous species originating from Central Asia, has gained renewed interest due to its multifaceted applications. This plant is rich in phytochemicals and fibers, making it valuable in pharmaceuticals, construction, and bioplastics production. The review highlights the diverse spectrum of phytochemicals in hemp, focusing on cannabinoids, terpenes, and phenolic compounds, including their biosynthetic routes. Cannabinoids, particularly THC and CBD, are extensively studied for their pharmaceutical effects, while terpenes and phenolic compounds also exhibit potent bioactivities. The review discusses the potential of genetic engineering, such as plant cell suspension and hairy root cultures, to enhance the production of these compounds. Additionally, it emphasizes the importance of hemp trichomes as factories for phytochemicals and explores the use of -omics technologies to accelerate the identification and large-scale production of lead agents from bioengineered Cannabis cell cultures.Cannabis sativa, a herbaceous species originating from Central Asia, has gained renewed interest due to its multifaceted applications. This plant is rich in phytochemicals and fibers, making it valuable in pharmaceuticals, construction, and bioplastics production. The review highlights the diverse spectrum of phytochemicals in hemp, focusing on cannabinoids, terpenes, and phenolic compounds, including their biosynthetic routes. Cannabinoids, particularly THC and CBD, are extensively studied for their pharmaceutical effects, while terpenes and phenolic compounds also exhibit potent bioactivities. The review discusses the potential of genetic engineering, such as plant cell suspension and hairy root cultures, to enhance the production of these compounds. Additionally, it emphasizes the importance of hemp trichomes as factories for phytochemicals and explores the use of -omics technologies to accelerate the identification and large-scale production of lead agents from bioengineered Cannabis cell cultures.