Cannabis is a global emerging market. This report presents a classification for emerging cannabis markets that allows us to understand the market context and opportunities. The classification is based on several factors and is not exclusionary. We analyze advantages and disadvantages of each bucket beyond demographics. We also explore current and future opportunities and potential pitfalls in developing markets.
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Currently, the most promising opportunities for countries that produce cannabis lie in the hemp-derived and medical-use cannabis markets. These countries can focus on exporting medical products or CBD-based products to other markets. In the future, with a more standardised regulation of adult-use cannabis and international trade for it, these countries could transition into becoming producers and exporters for this segment as well.
The demand for cannabis products will continue to increase. However, the establishment of a cannabis industry will largely depend on how legal access frameworks to cannabis get established and how this will affect the availability of products for consumers. Moving forward, companies need to consider the potential for growth of the cannabis industry in each country and pay attention to the regulatory landscape.
The cannabis industry is facing considerable uncertainty due to the constantly changing legal landscape. To survive in this industry, companies must have a long-term plan and be able to adapt to legislative changes, whether they are intentional or not. As more countries legalise cannabis, the barrier for others looking to follow suit will decrease.
Innovation in the cannabis market can enable companies to try out new opportunities. Companies and countries that are quick to adopt these innovations will benefit from early insight into what works and what does not for the different cannabis consumers around the world. Moreover, the nascent cannabis industry offers many opportunities for outsiders to disrupt in non-traditional ways.
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