Cannabis - Lebanon

Lebanon

Lebanon is a country where revenue in the Cannabis market is projected to reach US$24.67m in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.51%, resulting in a market volume of US$27.93m by 2029.
When compared globally, most revenue will be generated the United States (US$42.98bn in 2024).
In relation to total population figures, per person revenues of US$0.22k are generated in 2024.
Lebanon's cannabis market is poised for growth amid ongoing legalization discussions and potential economic benefits.

Key regions: United States, Canada, Netherlands, Germany, Thailand

Market

Region

Region comparison

Currency

Analyst Opinion

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.

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.