Cannabis - Industry - MEA Market, Share and Trends 2023-2028

Summary of Cannabis

The MEA region encompasses diverse legal, cultural, economic and political environments that will each impact how cannabis commercialization progresses locally. Pioneering nations like Lebanon and Lesotho have established limited medical cannabis programs, with others exploring reform more cautiously.

Middle east and Africa’s regional cannabis market size is projected to grow from $3.18 billion in 2023 to $6.02 billion by 2029, at a CAGR of 10.88 % during the forecast period.

Regardless of short-term trajectories, several MEA countries show long-term potential as the industry matures. With a population of over 1.3 billion and some of the world’s fastest growing economies, the region represents an untapped market opportunity on a massive scale.

For businesses seeking to engage MEA responsibly – nuanced understanding and partnership-driven approaches will be paramount. Regulatory compliance, cultural sensitivity and community benefit must underpin all activities. Medical cannabis likely provides the clearest near-term avenue – with research – import/export and specialized manufacturing opportunities available.

Looking further ahead, recreational and wellness segments may emerge in receptive nations. Mainstream CPG companies and regional agricultural firms are well-positioned to engage strategically as regulations allow. Ancillary technology providers will also find demand as programs scale.

While navigating complexity– those who establish themselves as valued partners can gain first-mover advantages. Continued monitoring of evolving social, regulatory and commercial landscapes will help chart sensible engagement strategies in this emerging international sector. With care and responsibility– the MEA region shows long-term promise for the global cannabis industry.

Recent Trends and Insights

Lesotho has established itself as a leader in the region through its cultivation and export-focused medical cannabis program. The country supplies international markets and is exploring new partnerships.

Neighboring South Africa is advancing legislation to legalize cannabis for personal use and establish a commercial industry. This could open significant opportunities if implemented. Morocco has a long history of cannabis cultivation and is undertaking research on medical applications. The nation may pilot limited therapeutic programs or export initiatives.

Other North African countries like Algeria and Egypt are monitoring developments cautiously but have not enacted reforms to date. Public opinion appears mixed. The UAE has emerged as a hub for cannabis research in the Gulf region through facilities like the Emirates Academy of Hospitality Management’s Cannabis Research Center.

Regional interest in the wellness applications of CBD is growing, representing a potential initial market segment before broader reforms. While regulatory landscapes differ significantly across MEA– continued policy reforms seem inevitable as global trends progress. Early engagement appears prudent for businesses seeking a foothold in this emerging international sector.

Product Insights

Medicinal cannabis has also been proven to have greater efficacy in some disease conditions than the present medicinal agents use in their management and has been suggested as an alternative therapy for these diseases. Although most countries available the world – including some African countries – have a restriction on the recreational and medicinal use of cannabis.6 There are emergent facts on the safety and efficacy of medicinal cannabis in pharmacotherapy. With the increasing role of pharmacists in public health— the roles of pharmacists in the successful use and access to medical marijuana is therefore important.

In many nations— marijuana is illegal under federal law and health officials have no say in how the drug is made, prescribed, dispensed, labelled or tested for purity. This suggests that patients can only obtain or possess marijuana from unapproved sources, which adds to the uncertainty regarding the safety of the product and the potential for widespread abuse.

With expanding media awareness on the potential benefits of cannabis in pharmacotherapy, it is only a matter of time before patients start obtaining illegal means to access and use cannabis for their medical concerns. Increasing awareness will in the long run increase threat posed by cannabis use to public health in Africa.

The likelihood of adverse impact abuse cases will rise as more people fail to receive appropriate counselling and guidance from a healthcare provider. Therefore— evaluating the growing responsibilities that pharmacists are playing in Africa’s successful use of cannabis in pharmacotherapy becomes crucial.

Key Companies

Some major players within this vast domain of industry are

• Canntab Therapeutics Limited
• Insys Therapeutics, Inc.
• Green Organic Dutchman
• Medreleaf Corporation
• MGC Pharmaceuticals Limited
• Canopy Growth Corporation
• Tilray
• Aphria Inc.
• VIVO Cannabis Inc.
• Cannatre
• penVAPE Shop.
• The Cronos Group

Regional Analysis

In the Middle East and North Africa, penalties associated with the possession and use of cannabis remain harsh given global movement toward depenalization. The death penalty is allowed for drug offenses in 14 of the 19 countries in the region (though only a handful of those countries regularly carry out such executions). Like Tunisia, many countries also experience prison overcrowding.

The public’s increasing acceptance of medical cannabis as a respectable alternative to pharmaceuticals is something that African pharmacists need to be aware of. In-depth inquiries concerning the patient’s medical and social history, as well as their usage of illicit substances such as— marijuana for either medicinal or recreational purposes, might be made by pharmacists. Pharmacists must to assume a proactive role in supplying sufficient, neutral information regarding the advantages and disadvantages of cannabis use.

Industrial pharmacists are able to actively participate in the local medical cannabis industry. Pharmacists can work with other healthcare stakeholders to monitor, manage, and design the cannabis supply chain in order to prevent unauthorised access and guarantee a transparent supply.

Like hospital pharmacists — community pharmacists have roles in medication regulation, dispensing, counseling, health promotion, identifying possible drug interactions, pharmacovigilance and research towards its ultimate successful and safe use. The dispensing of medical cannabis in community pharmacies should be done under close supervision of a registered pharmacist.

Market Segmentation

By Type:

• Medical cannabis
• Recreational cannabis
• Hemp-derived products (CBD, fiber, seeds, etc.)
• Cannabis-infused products (edibles, beverages, topicals, etc.)

By End user:

• Patients seeking medical treatment.
• Adult consumers for recreational use
• Industrial users (hemp-based products for various industries)
• Wellness and lifestyle consumers (CBD products)

By Vertical:

• Cultivation and growing operations
• Processing and extraction facilities
• Retail and dispensaries
• Ancillary services (consulting, software, packaging, etc.)
• Research and development

By Country:

• Saudi Arabia
• Iran
• United Arab Emirates
• Israel
• Egypt
• Iraq
• Qatar

Our Methodology

We have offered a well-founded review of Middle east and Africa’s regional cannabis market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.