Cannabis

Revenue in the Cannabis market in Czechia is forecasted to reach US$44.63m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 2.77%, leading to a market volume of US$51.15m by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$42.98bn in 2024).
In terms of per person revenues in relation to the total population, US$33.61 are generated in 2024.
Czechia's Cannabis market is flourishing with a growing demand for CBD products and a rising number of innovative startups entering the industry.

Definition:
The Cannabis market covers products derived from the cannabis plant used for medical or recreational purposes. These products may include dried flowers, oils, edibles, tinctures, and topicals. Depending on the regulations in each country or state, these products are provided by dispensaries, pharmacies, and/or online platforms. They may be consumed in the form of smoking, vaporizing, eating, or applying topically.

Structure:
The market includes Medical, Pharmaceutical, and Recreational Cannabis as well as CBD Products. The Medical and Pharmaceutical Cannabis markets include products used to treat conditions such as chronic pain, mental disorders, and other medical conditions. The Recreational Cannabis and the the CBD Products markets include products used for personal enjoyment or leisure purposes. All cannabis markets include various forms of cannabis such as flowers, concentrates, edibles, and topicals.

Additional information:
Market values represent the revenues generated by retail prices paid to vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Canopy Growth Corporation, Aurora Cannabis, Curaleaf Holdings, Tilray, Green Thumb Industries, Trulieve Cannabis, Verano Holdings.

Recreational Cannabis
Medical Cannabis
Pharmaceutical Cannabis
CBD Products

Illegal cannabis
Cannabis cultivated for private use

The Cannabis market in Czechia has been experiencing significant growth in recent years.

Customer preferences: Consumers in Czechia are increasingly leaning towards cannabis products for both medicinal and recreational purposes. The shift in preferences can be attributed to the growing awareness of the potential health benefits of cannabis products. Additionally, the changing social attitudes towards cannabis use have also contributed to the increasing demand among consumers.

Trends in the market: One notable trend in the Czech cannabis market is the rising popularity of CBD products. CBD, a non-psychoactive compound found in cannabis, has gained traction for its perceived therapeutic properties. As more consumers seek natural remedies and wellness products, the demand for CBD products such as oils, edibles, and topicals continues to rise in Czechia. Moreover, the increasing number of specialized cannabis shops and online retailers indicates a growing market for cannabis products in the country.

Local special circumstances: Czechia has relatively lenient regulations surrounding the use of cannabis compared to some other European countries. The decriminalization of small-scale cannabis possession for personal use has created a more permissive environment for cannabis consumers in Czechia. This legal landscape has contributed to the growth of the cannabis market in the country, attracting both domestic and international players to enter the market.

Underlying macroeconomic factors: The overall economic stability and increasing disposable income levels in Czechia have also played a role in driving the growth of the cannabis market. As consumers have more purchasing power, they are more inclined to spend on premium cannabis products and accessories. Additionally, the thriving tourism industry in Czechia has further boosted the demand for cannabis products, particularly among visitors looking to explore the local cannabis culture.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Cannabis or marijuana, the psychoactive drug from the cannabis plant is growing in popularity around the globe, both for recreational and medicinal uses. While there are many countries that have legalized cannabis in some capacity for medical purposes, only a handful have done so for recreational use. Even though cannabis is not federally legal in the United States, the combined legal states represent the largest market in the world. After the U.S., Canada, which legalized cannabis nation-wide in 2018 represents the next largest market. In 2021, a new coalition government was formed in Germany that indicated that the legalization of cannabis was on their agenda. Germany would be the largest legal adult-use market in Europe and would act as a test case for other countries on the continent considering the merits of legalization.