Cannabis - Pakistan

Pakistan

In Pakistan, revenue in the Cannabis market is projected to reach US$149.10m in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.78%, resulting in a market volume of US$136.30m by 2029.
When looking at 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$0.11k are generated in 2024.
Pakistan's cannabis market is experiencing a surge in demand for medical cannabis products amid evolving regulatory frameworks.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Cannabis market in Pakistan has been experiencing notable growth and development in recent years.

Customer preferences: Customers in Pakistan are increasingly showing interest in Cannabis products for medicinal and recreational purposes. The growing awareness about the potential health benefits of Cannabis is driving consumer preferences towards these products. Additionally, the cultural acceptance of Cannabis in certain regions of Pakistan is also influencing customer choices.

Trends in the market: One of the key trends in the Cannabis market in Pakistan is the shift towards legalizing and regulating the production and sale of Cannabis products. This trend is in line with global movements towards decriminalization and legalization of Cannabis. As more countries around the world embrace Cannabis legalization, Pakistan is also exploring opportunities in this market.

Local special circumstances: In Pakistan, the cultural and religious norms play a significant role in shaping the Cannabis market. While Cannabis remains illegal for recreational use in the country, there is a long history of Cannabis consumption for medicinal and traditional purposes. This unique cultural background creates a complex environment for the Cannabis market to operate in Pakistan.

Underlying macroeconomic factors: The economic landscape in Pakistan is also impacting the Cannabis market in the country. With a large population and increasing urbanization, there is a growing market potential for Cannabis products. Moreover, the government's focus on economic development and job creation could lead to considerations for the legalization of Cannabis to boost the economy.

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.