Cannabis

Revenue in Lesotho's Cannabis market is forecasted to reach US$3.67m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 1.44%, leading to a market volume of US$3.95m by 2029.
When compared globally, the United States is expected to generate the most revenue (US$42.98bn in 2024).
In terms of per person revenues in relation to the total population, US$302.80 are generated in 2024.
Lesotho's Cannabis market is gaining traction with its favorable regulations attracting international investors seeking to capitalize on the growing industry.

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.

Recreational Cannabis
Medical Cannabis
Pharmaceutical Cannabis
CBD Products

Illegal cannabis
Cannabis cultivated for private use

Lesotho, a small country in southern Africa, has been making strides in the Cannabis market in recent years.

Customer preferences: Customers in Lesotho are showing a growing interest in Cannabis products for both medicinal and recreational purposes. The increasing awareness about the potential health benefits of Cannabis has driven this trend. Moreover, the cultural acceptance of Cannabis in the region has also contributed to the rising demand among consumers.

Trends in the market: One notable trend in the Cannabis market in Lesotho is the emphasis on quality and compliance with international standards. As the country aims to position itself as a key player in the global Cannabis industry, local companies are focusing on producing high-quality products that meet the regulatory requirements of international markets. Additionally, there is a growing trend towards sustainable and environmentally friendly practices in Cannabis cultivation.

Local special circumstances: Lesotho's unique geographical location and climate provide ideal conditions for Cannabis cultivation. The country's high altitude, abundant sunshine, and fertile soil make it well-suited for growing Cannabis plants. This natural advantage has attracted investors and cultivators to establish operations in Lesotho, further boosting the development of the Cannabis market in the country.

Underlying macroeconomic factors: The Cannabis industry in Lesotho is also influenced by macroeconomic factors such as government regulations and foreign investment. The government's progressive stance on Cannabis legalization and regulation has created a conducive environment for industry growth. Additionally, foreign investment in the sector has brought in expertise and capital, driving innovation and expansion within the market.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Cannabis or marijuana, the psychoactive drug from the cannabis plant is growing in popularity around the globe, both for recreational and medicinal uses. While there are many countries that have legalized cannabis in some capacity for medical purposes, only a handful have done so for recreational use. Even though cannabis is not federally legal in the United States, the combined legal states represent the largest market in the world. After the U.S., Canada, which legalized cannabis nation-wide in 2018 represents the next largest market. In 2021, a new coalition government was formed in Germany that indicated that the legalization of cannabis was on their agenda. Germany would be the largest legal adult-use market in Europe and would act as a test case for other countries on the continent considering the merits of legalization.