Definition:
The Cannabis market covers products derived from the cannabis plant used for medical or recreational purposes. These products may include dried flowers, oils, edibles, tinctures, and topicals. Depending on the regulations in each country or state, these products are provided by dispensaries, pharmacies, and/or online platforms. They may be consumed in the form of smoking, vaporizing, eating, or applying topically.
Structure:
The market includes Medical, Pharmaceutical, and Recreational Cannabis as well as CBD Products. The Medical and Pharmaceutical Cannabis markets include products used to treat conditions such as chronic pain, mental disorders, and other medical conditions. The Recreational Cannabis and the the CBD Products markets include products used for personal enjoyment or leisure purposes. All cannabis markets include various forms of cannabis such as flowers, concentrates, edibles, and topicals.
Additional information:
Market values represent the revenues generated by retail prices paid to vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).
Company examples: Canopy Growth Corporation, Aurora Cannabis, Curaleaf Holdings, Tilray, Green Thumb Industries, Trulieve Cannabis, Verano Holdings.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Lebanon, known for its rich history and cultural heritage, has seen a growing interest in the Cannabis market in recent years.
Customer preferences: Customers in Lebanon have shown a preference for high-quality Cannabis products, driving the market towards more premium offerings. With a growing awareness of the potential health benefits of Cannabis, consumers are increasingly seeking products that are organic and sustainably sourced.
Trends in the market: One notable trend in the Lebanese Cannabis market is the increasing legalization and regulation of medical Cannabis. This shift has opened up new opportunities for both domestic cultivation and export, attracting investment and spurring growth in the industry. Additionally, the rising popularity of Cannabis-based wellness products has created a niche market for beauty and health supplements infused with Cannabis extracts.
Local special circumstances: Lebanon's unique geographical position and climate make it well-suited for Cannabis cultivation, leading to the country's reputation for producing high-quality Cannabis strains. The long history of Cannabis cultivation in certain regions of Lebanon has also contributed to the development of specialized expertise in the industry.
Underlying macroeconomic factors: The economic challenges facing Lebanon, including high unemployment rates and a struggling agricultural sector, have prompted policymakers to explore the potential of the Cannabis industry as a source of revenue and job creation. The legalization of Cannabis for medical and industrial purposes is seen as a way to stimulate economic growth and attract foreign investment in the country.
Most recent update: Mar 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights