Key regions: United States, Canada, Netherlands, Germany, Thailand
The Cannabis market in Benelux has been experiencing significant growth and development in recent years.
Customer preferences: Customers in the Benelux region have shown a growing interest in cannabis products, particularly those that offer a variety of consumption methods such as edibles, oils, and topicals. This shift in preferences is driven by a desire for convenience, discretion, and alternative consumption options.
Trends in the market: One notable trend in the Benelux Cannabis market is the increasing acceptance and legalization of medical cannabis. This trend has opened up new opportunities for companies to develop and market medical cannabis products to meet the growing demand from patients seeking alternative treatment options. Additionally, there is a rising trend towards premium and high-quality cannabis products, as consumers become more discerning and willing to pay a premium for products that offer superior quality and consistency.
Local special circumstances: In the Benelux region, the Netherlands has long been known for its liberal cannabis policies, with the famous coffee shops in Amsterdam attracting tourists from around the world. This unique cultural attitude towards cannabis has influenced the market dynamics in the region, creating a more open and accepting environment for cannabis businesses to operate. Additionally, the proximity and interconnectedness of Belgium, the Netherlands, and Luxembourg have facilitated cross-border trade and collaboration in the Cannabis industry, leading to a more integrated market in the Benelux region.
Underlying macroeconomic factors: The growing trend towards cannabis legalization and decriminalization across Europe has created a favorable regulatory environment for the Cannabis market in Benelux. This, coupled with increasing public acceptance and awareness of the potential benefits of cannabis, has fueled market growth and investment in the region. Moreover, the economic stability and high levels of disposable income in the Benelux countries have contributed to the growing demand for cannabis products, driving market expansion and innovation in the region.
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.
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