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Key regions: United States, Canada, Netherlands, Germany, Thailand
The Cannabis market in Estonia is showing promising signs of growth and development.
Customer preferences: Customers in Estonia are increasingly seeking out cannabis products for both recreational and medicinal purposes. The growing awareness of the potential health benefits of cannabis products is driving demand in the market. Additionally, the shift towards natural and organic products is also influencing customer preferences towards cannabis-based offerings.
Trends in the market: One of the notable trends in the Estonian cannabis market is the increasing availability of a wide range of products. From CBD oils and edibles to skincare products infused with cannabis extracts, consumers in Estonia now have access to a variety of options. Furthermore, there is a growing trend towards the acceptance and normalization of cannabis use in the country, leading to a more open and receptive market environment.
Local special circumstances: Estonia's relatively small population size and unique regulatory environment play a significant role in shaping the cannabis market in the country. The strict regulations surrounding the sale and distribution of cannabis products have created barriers to entry for businesses, leading to a limited number of players in the market. However, the progressive attitude towards cannabis use among the population indicates potential for further market expansion in the future.
Underlying macroeconomic factors: Estonia's stable economy and increasing disposable income levels are contributing to the growth of the cannabis market in the country. As consumers become more willing to spend on wellness and lifestyle products, the demand for cannabis offerings is expected to rise. Additionally, Estonia's strategic location within the European Union provides opportunities for market expansion and exportation of cannabis products to other EU countries.
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)