CBD Products - Argentina

Argentina

Argentina is expected to witness a revenue of US$56.33m in the CBD Products market by 2024.
The market is projected to experience a compound annual growth rate (CAGR 2024-2029) of -2.45%, reaching a market volume of US$49.76m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue of US$2,575.00m in 2024.
In terms of per capita figures, US$21.36 in revenue is expected to be generated per person in Argentina by 2024.
Argentina's growing interest in CBD products is reflected in the expanding market presence of cannabis-derived commodities in the country.

Key regions: Netherlands, Spain, United States, Europe, Australia

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Analyst Opinion

The CBD Products market in Argentina has been experiencing a significant growth trajectory in recent years.

Customer preferences: Consumers in Argentina are increasingly turning to CBD products due to a growing awareness of their potential health benefits and therapeutic properties. The shift towards natural and holistic remedies has driven the demand for CBD-infused products across various demographics in the country.

Trends in the market: One notable trend in the CBD Products market in Argentina is the diversification of product offerings. Companies are introducing a wide range of CBD products, including oils, topicals, edibles, and beverages, to cater to different consumer preferences. This trend reflects the evolving consumer needs and the desire for innovative CBD solutions in the market.

Local special circumstances: Argentina's regulatory environment plays a crucial role in shaping the CBD Products market in the country. The legalization of medical cannabis in 2017 has paved the way for the legal sale of CBD products for medicinal purposes. This regulatory framework has provided a foundation for the growth of the CBD market and has encouraged both domestic and international companies to enter the market.

Underlying macroeconomic factors: The economic landscape in Argentina, characterized by fluctuations in the exchange rate and inflation rates, has influenced the CBD Products market in the country. As consumers seek alternative healthcare options amidst economic uncertainties, the demand for CBD products has continued to rise. Additionally, the increasing disposable income and changing lifestyle trends have contributed to the expansion of the CBD market in Argentina.

Methodology

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.