Cannabis - Malawi

Malawi

in Malawi, a country in Southeast Africa, is projected to witness a revenue of US$14.03m in the Cannabis market by 2024.
The revenue is anticipated to experience a Compound Annual Growth Rate (CAGR 2024-2029) of 2.89%, leading to a market volume of US$16.18m by 2029.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$42.98bn in 2024.
In terms of per capita figures, each person is estimated to generate revenues of US$0.27k in 2024.
Malawi's Cannabis market is flourishing as the country explores legalizing the industry, attracting investment and boosting economic growth prospects.

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

Market

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Analyst Opinion

The Cannabis market in Malawi has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Malawi are increasingly showing a preference for locally grown and organic cannabis products. This trend is in line with the global movement towards natural and sustainable products in the cannabis industry.

Trends in the market: One of the notable trends in the Malawian cannabis market is the shift towards export-oriented cultivation. The country's favorable climate and growing conditions make it an attractive location for cannabis cultivation for export purposes. This trend is driven by the increasing global demand for medical and recreational cannabis products.

Local special circumstances: Malawi has a long history of cannabis cultivation, with the plant being traditionally grown for various purposes. The legalization of cannabis for medical and industrial use in the country has opened up new opportunities for local farmers and businesses. The government's support for the cannabis industry and the establishment of regulatory frameworks have also contributed to the growth of the market.

Underlying macroeconomic factors: The development of the cannabis market in Malawi is also influenced by macroeconomic factors such as foreign investment and trade partnerships. The country's efforts to attract foreign investment in the cannabis sector and establish trade agreements with other countries have played a significant role in driving the market growth. Additionally, the potential economic benefits of a thriving cannabis industry, including job creation and export revenue, are key factors driving the market development in Malawi.

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.