Skip to main content
  1. Market Insights
  2. Health

Cannabis - South Africa

South Africa
  • South Africa is expected to see a revenue of US$314.90m in the Cannabis market by 2025.
  • The revenue is forecasted to display an annual growth rate (CAGR 2025-2029) of 0.94%, leading to a market volume of US$326.88m by 2029.
  • When compared globally, the United States is anticipated to generate the highest revenue of US$45.35bn in 2025.
  • In terms of per person revenues in 2025, US$99.07 are generated concerning the total population figures.
  • South Africa sees a growing trend in the Cannabis market with increasing investment in cannabis-related financial commodities.

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.

In-Scope
  • Recreational Cannabis
  • Medical Cannabis
  • Pharmaceutical Cannabis
  • CBD Products
Out-Of-Scope
  • Illegal cannabis
  • Cannabis cultivated for private use
Cannabis: market data & analysis - Cover

Market Insights report

Cannabis: market data & analysis
CONTENTBOX_CAPTION_STUDY_DETAILS

    Revenue

    Created with Highcharts 11.4.8ValuesTotalCBD ProductsMedical CannabisPharmaceutical CannabisRecreational Cannabis201820192020202120222023202420252026202720282029100200300400500600700

    NOTES: Data was converted from local currencies using average exchange rates of the respective year.

    MOST_RECENT_UPDATE: Mar 2024

    SOURCE: Statista Market Insights

    Created with Highcharts 11.4.8ValuesTotalCBD ProductsMedical CannabisPharmaceutical CannabisRecreational Cannabis20182019202020212022202320242025202620272028202910k20k30k40k50k60k70k80k90k100k110k

    MOST_RECENT_UPDATE: Mar 2024

    SOURCE: Statista Market Insights

    Users

    MOST_RECENT_UPDATE: Mar 2024

    SOURCE: Statista Market Insights

    Analyst Opinion

    The Cannabis market in South Africa has seen significant growth and development in recent years.

    Customer preferences:
    Consumers in South Africa are increasingly turning to Cannabis products for both medicinal and recreational purposes. There is a growing acceptance and demand for alternative forms of treatment and relaxation, driving the popularity of Cannabis-based products in the market.

    Trends in the market:
    One notable trend in the South African Cannabis market is the increasing number of companies entering the industry to meet the rising demand. This has led to a wide variety of products being offered to consumers, ranging from oils and tinctures to edibles and topicals. Additionally, there is a noticeable shift towards more sophisticated cultivation techniques and product formulations to cater to different consumer preferences.

    Local special circumstances:
    South Africa's unique climate and growing conditions present both opportunities and challenges for the Cannabis market. The country's diverse geography allows for the cultivation of a wide range of Cannabis strains, contributing to the production of high-quality products. However, regulatory restrictions and licensing requirements have posed obstacles for businesses looking to fully capitalize on the market potential.

    Underlying macroeconomic factors:
    The evolving regulatory landscape surrounding Cannabis in South Africa plays a significant role in shaping the market dynamics. As laws and attitudes continue to change, there is a growing sense of optimism among industry players and investors. Economic factors, such as job creation and tax revenue generation, are also driving the expansion of the Cannabis market in the country.

    Global Comparison

    MOST_RECENT_UPDATE: Mar 2024

    SOURCE: Statista Market Insights

    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.

    Health

    XMO_REPORT_PROMO_HEADLINE

    Cannabis: market data & analysis - BackgroundCannabis: market data & analysis - Cover

    Key Market Indicators

    NOTES: Based on data from IMF, World Bank, UN and Eurostat

    MOST_RECENT_UPDATE: Jan 2025

    SOURCE: Statista Market Insights

    OUTLOOK_EXPLORE_RELATED_TOPICS

    Cannabis market worldwide - Statistics & Facts

    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.
    OUTLOOK_MORE_DATA_ON_TOPIC

    Contact

    Get in touch with us. We are happy to help.