The New Zealand Medical Cannabis Market
Puro New Zealand commissioned The AgriBusiness Group to provide an analysis of the New Zealand medical cannabis market and predict its expected size in the coming years. Internationally, several countries and American states have established medical cannabis industries. The global medical cannabis market is growing rapidly and has been predicted to exceed $55 billion USD by 2024. The lack of information on how the New Zealand medical cannabis scheme will operate means that there is a high degree of uncertainty in predicting the potential size of the market. To mitigate this uncertainty, we used two methods to forecast the potential New Zealand market both of which provide an ambitious and conservative estimate of size. The results suggest that there is the potential for a significant medical cannabis market to develop in New Zealand. In this project The AgriBusiness Group applied robust economic analysis to value an emerging market. Through this analysis we were able to provide a solid evidence base for the client.
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