One-Third of Worldwide Hashish Customers Are in Africa

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New examine examines regional and world cannabis and hemp alternatives for Africa

Washington (Might 23, 2019) – New Frontier Information, the authority in information analytics and enterprise intelligence on the worldwide cannabis business, broadcasts its newest report the Africa Regional Hemp and Hashish Report: 2019 Trade Outlook, estimating Africa’s complete addressable cannabis market at $37.Three billion USD; greater than 11% of the overall world cannabis market. The report will likely be launched at the InterCannAlliance Africa Symposium, Africa’s premier hemp and cannabis occasion, on Might 24-25 in Victoria Falls, Zimbabwe, and made public at no cost obtain shortly thereafter.

Since Lesotho turned the primary African nation to legalize medical cannabis in 2017, Africa’s annual cannabis use price has been practically twice the worldwide common use price of 6%.

“Demand for CBD merchandise continues to surge throughout Europe, and lots of together with Canada, which now imports from Colombia to assist meet this rising demand, wish to capitalize on it. Will probably be attention-grabbing to see if Africa’s proximity to the previous continent and its many agro-based economies could also be higher positioned to offer a cheaper provide,” famous New Frontier Information Founder and CEO Giadha Aguirre de Carcer. “Not solely is hemp a possible low tech, excessive revenue margin, new crop to invigorate African economies; it might additionally assist United Nations’ present Sustainable Improvement Objectives corresponding to fostering regional inclusive financial progress and creating sustainable jobs.”

Key takeaways from the report embrace:

  • This report covers 13 African nations which embody greater than 565.four million folks, and throughout which practically 42.eight million are estimated to make use of cannabis at the very least yearly.
  • By 2050 Africa’s inhabitants is anticipated to double; representing 58% of complete world inhabitants progress over this time.
  • Africa’s largest cannabis markets are these with the biggest populations with Nigeria ($15.Three billion USD) and Ethiopia ($9.eight billion USD) main the way in which.

To request an advance copy of the Africa Regional Hemp and Hashish Report: 2019 Trade Outlook or to obtain the complimentary report as soon as it’s obtainable, go to https://newfrontierdata.com/africa2019.

About New Frontier Information:

New Frontier Information is an unbiased, technology-driven analytics firm specializing within the cannabis business. It presents vetted information, actionable enterprise intelligence and danger administration options for traders, operators, researchers and policymakers. New Frontier Information’s reviews and information have been cited in over 80 nations world wide to tell business leaders. Based in 2014, New Frontier Information is headquartered in Washington, D.C. with further workplaces in Denver, CO, and London, UK.

New Frontier Information doesn’t take a place on the deserves of cannabis legalization. Moderately, its mission and mandate are to tell cannabis-related coverage and enterprise selections via rigorous, issue-neutral and complete evaluation of the authorized cannabis business worldwide. For extra details about New Frontier Information, please go to: http://www.NewFrontierData.com.

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