Cannabis - Luxembourg

Luxembourg

Luxembourg is projected to reach a revenue of US$15.00m in the Cannabis market by 2024.
The revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 1.99%, leading to a market volume of US$16.55m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue in 2024, amounting to US$42.98bn.
In terms of per person revenues in 2024, US$0.05k are generated in relation to Luxembourg's total population figures.
Luxembourg's Cannabis market is poised for exponential growth with increasing investor interest in Cannabis-related commodities trading on the Luxembourg Stock Exchange.

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

Market

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Currency

Analyst Opinion

Luxembourg, a small European country known for its high standard of living and strong economy, has seen significant developments in its Cannabis market in recent years.

Customer preferences: In Luxembourg, there is a growing trend towards the acceptance and use of Cannabis for both medical and recreational purposes. Consumers are increasingly seeking out high-quality products with specific strains and potency levels. Additionally, there is a rising demand for a variety of consumption methods, including edibles, oils, and vaping products.

Trends in the market: The Cannabis market in Luxembourg is experiencing a shift towards more liberal regulations and attitudes. With increasing legalization and decriminalization efforts across Europe, Luxembourg is following suit by exploring the potential benefits of Cannabis legalization. This trend is driving investment and innovation in the market, leading to a wider range of products and brands becoming available to consumers.

Local special circumstances: Luxembourg's unique position as a financial hub in Europe has contributed to the growth of the Cannabis market in the country. The presence of a well-developed financial sector has attracted investors looking to capitalize on the expanding Cannabis industry. Additionally, Luxembourg's small size and progressive attitudes towards Cannabis have created a favorable environment for businesses looking to enter the market.

Underlying macroeconomic factors: The economic stability and high disposable income levels in Luxembourg have played a significant role in shaping the Cannabis market in the country. As consumers have more purchasing power, they are willing to spend on premium Cannabis products and accessories. Furthermore, the government's focus on diversifying the economy and attracting new industries has opened up opportunities for Cannabis businesses to thrive in Luxembourg's market.

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.