Cannabis - Greece

Greece

Greece is projected to reach a revenue of US$39.09m in the Cannabis market by 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 2.34%, leading to a market volume of US$43.88m by 2029.
When compared globally, most revenue will be generated the United States with US$42.98bn in 2024.
In terms of per person revenues in 2024, in Greece generates US$0.04k.
Greece is experiencing a growing demand for cannabis-related investments, signaling a promising future in the cannabis market.

Key regions: United States, Canada, Netherlands, Germany, Thailand

Market

Region

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Currency

Analyst Opinion

The Cannabis market in Greece has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Greece are increasingly showing interest in cannabis products for both medicinal and recreational purposes. The shift in preferences towards natural and alternative remedies has contributed to the growing demand for cannabis-based products in the market. Additionally, the increasing awareness about the potential health benefits of cannabis has attracted a wider customer base.

Trends in the market: One of the notable trends in the Greek cannabis market is the gradual legalization of medical cannabis. The government's efforts to regulate and legalize the production and sale of medical cannabis have opened up new opportunities for businesses in the market. As a result, there has been a surge in the number of companies entering the market and offering a variety of cannabis products to meet the growing demand.

Local special circumstances: Greece's geographical location and climate provide ideal conditions for cannabis cultivation. The country's warm climate and ample sunlight create favorable growing conditions for cannabis plants, allowing for high-quality production. This advantage has positioned Greece as a potential hub for cannabis cultivation in Europe, attracting investments and boosting the local economy.

Underlying macroeconomic factors: The evolving regulatory landscape and government support have played a crucial role in shaping the cannabis market in Greece. The legalization of medical cannabis and the establishment of licensing frameworks have provided a clear path for businesses to operate legally in the market. Additionally, the potential economic benefits associated with the cannabis industry, such as job creation and tax revenues, have encouraged further growth and investment in the sector.

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.