Medical Cannabis - Malawi

Malawi

Malawi is expected to witness a significant growth in revenue within the Medical Cannabis market market, with projections indicating a figure of US$12.45m by 2024.
The sector is anticipated to display a Compound Annual Growth Rate (CAGR 2024-2029) of 3.17%, leading to a market volume of US$14.55m by 2029.
Among global counterparts, the United States is poised to dominate in revenue generation, with an estimated value of US$14,530.00m in 2024.
When considering the total population, the per capita revenue stands at US$8.40k in 2024 for Malawi.
Malawi's Medical Cannabis market is burgeoning, attracting investment interest and paving the way for potential industry growth in the country.

Key regions: Australia, Europe, South Africa, United States, Netherlands

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Analyst Opinion

Amidst the evolving landscape of the global medical cannabis market, Malawi has been making significant strides in the industry.

Customer preferences: Consumers in Malawi are increasingly leaning towards medical cannabis products due to growing awareness about the potential health benefits associated with its use. The shift in consumer preferences towards natural and alternative remedies has been a key driver in the increasing demand for medical cannabis in the country.

Trends in the market: One notable trend in the Malawian medical cannabis market is the gradual shift towards legalizing and regulating the cultivation, production, and sale of medical cannabis. This trend is in line with global movements towards decriminalization and legalization of cannabis for medical purposes. As a result, more local players are entering the market, leading to increased competition and product innovation.

Local special circumstances: Malawi's conducive climate and fertile soil present ideal conditions for cannabis cultivation, making it a cost-effective and lucrative venture for local farmers. The country's rich history of cannabis cultivation also plays a significant role in shaping the local market, with traditional knowledge and practices being passed down through generations.

Underlying macroeconomic factors: The growing medical cannabis market in Malawi is also influenced by macroeconomic factors such as the need for economic diversification and job creation. The industry has the potential to provide a new revenue stream for the country and create employment opportunities, especially in rural areas where agriculture is a primary source of livelihood. Additionally, the potential for export opportunities in the global medical cannabis market further drives the development of the industry 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.