CBD Products - Lebanon

Lebanon

Lebanon is expected to witness a significant increase in revenue within the CBD Products market, with projections indicating a figure of US$2.09m by 2024.
The sector is poised for steady growth, with an estimated Compound Annual Growth Rate (CAGR 2024-2029) of -1.08%, leading to a market volume of US$1.98m by 2029.
When compared on a global scale, the United States is anticipated to dominate in revenue generation, with a substantial amount of US$2,575.00m forecasted for 2024.
In terms of per capita income, in Lebanon is set to generate revenues of US$18.77 per person in 2024.
Lebanon's growing interest in CBD products reflects a shifting consumer mindset towards alternative wellness solutions in the cannabis market.

Key regions: Netherlands, Spain, United States, Europe, Australia

Market

Region

Region comparison

Currency

Analyst Opinion

The CBD Products market in Lebanon has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Lebanon are increasingly turning to CBD products due to their perceived health and wellness benefits. The growing trend towards natural and alternative remedies has fueled the demand for CBD products among health-conscious consumers in the country.

Trends in the market: One of the key trends in the CBD Products market in Lebanon is the expanding product variety and availability. Local retailers and online stores are offering a wide range of CBD products, including oils, tinctures, edibles, and skincare items, to cater to the diverse preferences of consumers. This trend reflects the global shift towards mainstream acceptance and usage of CBD products.

Local special circumstances: Lebanon's unique geographical location and climate provide ideal conditions for cultivating cannabis plants, including those with high CBD content. This has led to a burgeoning local industry focused on the production of CBD extracts and products. Additionally, Lebanon has a long history of cannabis cultivation for medicinal and industrial purposes, which has laid the foundation for the current market growth in CBD products.

Underlying macroeconomic factors: The economic challenges facing Lebanon, including high inflation and currency devaluation, have also played a role in driving the demand for CBD products. As consumers seek affordable healthcare alternatives and ways to alleviate stress and anxiety, CBD products have emerged as a relatively accessible and cost-effective option. The uncertain economic environment has further incentivized local entrepreneurs to invest in the CBD industry as a potential source of revenue and growth.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.