South Africa Cannabidiol Market Size & Outlook, 2023-2030
South Africa cannabidiol market, 2018-2030 (US$M)
Related Markets
South Africa cannabidiol market highlights
- The South Africa cannabidiol market generated a revenue of USD 31.8 million in 2023 and is expected to reach USD 71.2 million by 2030.
- The South Africa market is expected to grow at a CAGR of 12.2% from 2024 to 2030.
- In terms of segment, hemp was the largest revenue generating product in 2023.
- Hemp is the most lucrative product segment registering the fastest growth during the forecast period.
Cannabidiol market data book summary
| Market revenue in 2023 | USD 31.8 million |
| Market revenue in 2030 | USD 71.2 million |
| Growth rate | 12.2% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Hemp |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hemp, Marijuana |
| Key market players worldwide | Medical Marijuana Inc, Canopy Growth Corp, Elixinol Wellness Ltd Ordinary Shares, The Cronos Group, Isodiol International Inc, Endoca, Folium Biosciences, NuLeaf Naturals, PharmaHemp |
Other key industry trends
- In terms of revenue, South Africa accounted for 0.4% of the global cannabidiol market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Israel cannabidiol market is projected to lead the regional market in terms of revenue in 2030.
- Israel is the fastest growing regional market in Middle East & Africa and is projected to reach USD 443.2 million by 2030.
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Cannabidiol Market Scope
Cannabidiol Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Africa cannabidiol market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cannabidiol market will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 77.36% in 2023. Horizon Databook has segmented the South Africa cannabidiol market based on hemp, marijuana covering the revenue growth of each sub-segment from 2018 to 2030.
In South Africa, cannabis for personal and private use is decriminalized in 2018. The country defines regulations for the cultivation of cannabis for scientific, medical, and research purposes. Owing to legalization in the country, cannabis-derived CBD products have gained popularity and have attracted companies to invest in the market.
In South Africa, the regulatory authority (SAHPRA) has authorized patients to access cannabis containing products in exceptional circumstances and has to be subscribed by a physician first to obtain permission to import the required product.
South African Department of Health and SAHPRA has delivered guidelines for the cultivation of Cannabis, and to ensure the accessibility of superior quality- Cannabis, for medical, scientific, and clinical research purposes.
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Our clientele includes a mix of cannabidiol market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa cannabidiol market , including forecasts for subscribers. This country databook contains high-level insights into South Africa cannabidiol market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa cannabidiol market size, by product, 2018-2030 (US$M)
South Africa Cannabidiol Market Outlook Share, 2023 & 2030 (US$M)
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