Medical Cannabis - Benelux

Benelux

Revenue in the Medical Cannabis market market in Benelux is forecasted to reach US$114.60m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.73%, leading to a market volume of US$137.60m by 2029.
When compared globally, the United States is expected to generate the most revenue (US$14,530.00m in 2024).
In terms of per person revenues in relation to the total population, US$2.09k is generated in 2024.
The Benelux region is witnessing a growing acceptance and demand for medical cannabis products in the evolving Cannabis market.

Key regions: Australia, Europe, South Africa, United States, Netherlands

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Analyst Opinion

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

Customer preferences: Consumers in Benelux are increasingly turning to medical cannabis as an alternative form of treatment for various health conditions. There is a growing awareness and acceptance of the potential benefits of medical cannabis among patients and healthcare professionals in the region.

Trends in the market: One of the key trends in the Medical Cannabis market in Benelux is the increasing legalization and regulation of medical cannabis products. This has led to a wider availability of medical cannabis products and a growing number of patients seeking these treatments. Additionally, there is a trend towards research and development in the field of medical cannabis, leading to the introduction of innovative products and treatment options.

Local special circumstances: Benelux countries, including Belgium, the Netherlands, and Luxembourg, have unique regulatory frameworks governing the use of medical cannabis. Each country has its own laws and policies regarding the cultivation, distribution, and use of medical cannabis products. This can create challenges for businesses operating in the region, but also opportunities for those able to navigate the regulatory landscape effectively.

Underlying macroeconomic factors: The growth of the Medical Cannabis market in Benelux is also influenced by broader macroeconomic factors. Factors such as increasing healthcare costs, an aging population, and a growing focus on holistic and natural treatments are driving demand for medical cannabis products in the region. Additionally, the economic stability and relatively high levels of disposable income in Benelux countries contribute to the growth of the 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.