Key regions: United States, Canada, Netherlands, Germany, Thailand
The Cannabis market in Malta has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Malta are increasingly showing a preference for high-quality cannabis products that are sourced from reputable suppliers. With a growing awareness of the potential health benefits of cannabis, consumers are seeking products that are lab-tested and certified for quality and safety. Additionally, there is a rising demand for a variety of cannabis products, including oils, edibles, and topicals, reflecting a shift towards alternative consumption methods.
Trends in the market: One notable trend in the Maltese cannabis market is the increasing number of licensed producers and distributors entering the industry. This trend is fueled by the government's efforts to establish Malta as a hub for medical cannabis production and export. As a result, there is a growing presence of international companies setting up operations in Malta to take advantage of its strategic location and favorable regulatory environment. Another trend is the rising popularity of CBD products, driven by their non-intoxicating properties and potential therapeutic benefits.
Local special circumstances: Malta's strategic location in the Mediterranean region plays a significant role in shaping its cannabis market. The country's proximity to Europe and North Africa provides opportunities for trade and collaboration with neighboring countries. Additionally, Malta's progressive stance on medical cannabis legalization has created a supportive environment for industry growth. The government's initiatives to attract foreign investment and expertise have further contributed to the development of the cannabis market in Malta.
Underlying macroeconomic factors: The growth of the cannabis market in Malta is also influenced by broader macroeconomic factors, such as increasing disposable income and changing consumer attitudes towards cannabis. As the economy continues to expand, consumers have more purchasing power to spend on cannabis products. Moreover, shifting perceptions towards cannabis as a legitimate medical treatment have contributed to the normalization of its use in Malta. These underlying macroeconomic factors are expected to sustain the growth and evolution of the cannabis market in the country.
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.
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