Medical Cannabis - Zimbabwe

Zimbabwe

In Zimbabwe, revenue in the Medical Cannabis market market is forecasted to reach US$21.05m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 2.40%, leading to a market volume of US$23.70m by 2029.
When compared globally, the United States is expected to generate the most revenue (US$14,530.00m in 2024).
In terms of per person revenues in 2024, US$9.71k are generated concerning the total population figures.
Zimbabwe's medical cannabis market is experiencing rapid growth, attracting investors seeking opportunities in the emerging industry.

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

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Currency

Analyst Opinion

Zimbabwe, a country known for its rich agricultural heritage, is experiencing a significant shift in the Medical Cannabis market.

Customer preferences: Consumers in Zimbabwe are increasingly turning to Medical Cannabis products due to growing awareness of its potential health benefits. The shift towards natural and alternative remedies is driving demand for Medical Cannabis products among a wide range of demographics, including those seeking relief from various medical conditions.

Trends in the market: One notable trend in the Zimbabwean Medical Cannabis market is the increasing number of local companies entering the industry. These companies are not only focusing on cultivation and production but also on research and development to create innovative products tailored to the local market. Additionally, there is a rising trend of partnerships between local Medical Cannabis companies and international players, aiming to leverage expertise and expand market reach.

Local special circumstances: Zimbabwe's conducive climate and fertile land make it an ideal location for Medical Cannabis cultivation. The country's history of agriculture provides a strong foundation for the development of the Medical Cannabis industry. Furthermore, the government's efforts to regulate and formalize the sector are creating opportunities for local businesses to thrive in a controlled and supportive environment.

Underlying macroeconomic factors: The economic landscape in Zimbabwe, characterized by a need for diversification and foreign investment, is playing a significant role in the development of the Medical Cannabis market. The potential for job creation, export revenue, and overall economic growth is driving policymakers to support the industry's growth through favorable regulations and incentives. Additionally, the global trend towards the legalization and acceptance of Medical Cannabis is creating opportunities for Zimbabwe to position itself as a key player in the industry.

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.