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Key regions: United States, Canada, Netherlands, Germany, Thailand
The Cannabis market in Baltics has been experiencing significant growth and development in recent years.
Customer preferences: Customers in the Baltics are increasingly favoring a shift towards more liberal cannabis regulations, aligning with the global trend of growing acceptance and legalization of cannabis. This shift in preferences is driven by changing attitudes towards cannabis for both medical and recreational use.
Trends in the market: In the Baltics, there is a noticeable trend towards the legalization of medical cannabis, with several countries in the region taking steps to allow for the use of cannabis for medicinal purposes. This trend is in line with broader movements across Europe towards recognizing the potential therapeutic benefits of cannabis.
Local special circumstances: Each Baltic country has its own unique regulatory framework and cultural attitudes towards cannabis, which influences the market dynamics in the region. For example, Estonia has been more progressive in exploring the potential of cannabis for medical use compared to other Baltic states. Latvia and Lithuania, on the other hand, have been more cautious in their approach to cannabis legalization.
Underlying macroeconomic factors: The growing cannabis market in the Baltics can also be attributed to broader macroeconomic factors such as increasing disposable income and a desire for new economic opportunities. The cannabis industry has the potential to create jobs and stimulate economic growth in the region, which is particularly appealing given the relatively small size of the Baltic economies.
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.Modeling approach / Market size:
Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)