Cannabis

Malta is a country where revenue in the Cannabis market is projected to reach US$21.42m in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.65%, resulting in a market volume of US$26.88m by 2029.
In global comparison, most revenue will be generated the United States (US$42.98bn in 2024).
In relation to total population figures, per person revenues of US$194.60 are generated in 2024.
Malta's cannabis market is experiencing a surge in investment interest, positioning the country as a key player in the European cannabis 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

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

Customer preferences: Customers in Malta are increasingly showing a preference for high-quality cannabis products that are sourced from reputable suppliers. With a growing awareness of the potential health benefits of cannabis, consumers are seeking products that are lab-tested and certified for quality and safety. Additionally, there is a rising demand for a variety of cannabis products, including oils, edibles, and topicals, reflecting a shift towards alternative consumption methods.

Trends in the market: One notable trend in the Maltese cannabis market is the increasing number of licensed producers and distributors entering the industry. This trend is fueled by the government's efforts to establish Malta as a hub for medical cannabis production and export. As a result, there is a growing presence of international companies setting up operations in Malta to take advantage of its strategic location and favorable regulatory environment. Another trend is the rising popularity of CBD products, driven by their non-intoxicating properties and potential therapeutic benefits.

Local special circumstances: Malta's strategic location in the Mediterranean region plays a significant role in shaping its cannabis market. The country's proximity to Europe and North Africa provides opportunities for trade and collaboration with neighboring countries. Additionally, Malta's progressive stance on medical cannabis legalization has created a supportive environment for industry growth. The government's initiatives to attract foreign investment and expertise have further contributed to the development of the cannabis market in Malta.

Underlying macroeconomic factors: The growth of the cannabis market in Malta is also influenced by broader macroeconomic factors, such as increasing disposable income and changing consumer attitudes towards cannabis. As the economy continues to expand, consumers have more purchasing power to spend on cannabis products. Moreover, shifting perceptions towards cannabis as a legitimate medical treatment have contributed to the normalization of its use in Malta. These underlying macroeconomic factors are expected to sustain the growth and evolution of the cannabis market in the country.

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.