Recreational Cannabis - Nordics

Nordics

Revenue in the 0 market in Nordics is forecasted to reach 0.00 in 2024.
Revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-0.00) of [globalrevenue_currentlayer_yeartoday_currentcountryvalue], culminating in a market volume of 0.00 by [globalrevenue_currentlayer_yeartoday_currentcountryvalue].
When compared globally, the United States will generate the highest revenue (US$24.96bn in 2024).
Concerning total population figures, per person revenues of 0.00 are expected to be generated in 2024.
In the Nordics, the recreational cannabis market is seeing a surge in demand for high-quality, sustainably sourced products.

Key regions: Spain, South Africa, Europe, Netherlands, Australia

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Analyst Opinion

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

Customer preferences: Customers in the Nordic region are increasingly seeking out high-quality and diverse cannabis products. They are showing a preference for products that are organically grown, sustainably sourced, and offer unique flavors and experiences. Additionally, there is a growing demand for innovative consumption methods such as edibles, concentrates, and topicals.

Trends in the market: In Sweden, there is a rising trend towards the decriminalization of cannabis for personal use, which is driving a shift in attitudes towards recreational cannabis. Norway is seeing a surge in the popularity of CBD products, with consumers looking for natural remedies and wellness products. Denmark is experiencing a trend towards cannabis tourism, with an increase in visitors seeking out cannabis-related experiences.

Local special circumstances: The Nordic region is known for its strict regulations and conservative attitudes towards cannabis. However, there is a gradual shift towards more liberal policies, with several countries exploring the possibility of legalizing recreational cannabis. This changing landscape is creating opportunities for both local and international cannabis companies to enter the market and cater to the evolving consumer preferences.

Underlying macroeconomic factors: The growing acceptance and legalization of cannabis for recreational use in other parts of Europe and North America are influencing the attitudes and policies towards cannabis in the Nordic region. Additionally, the potential economic benefits of a regulated cannabis market, including tax revenues and job creation, are prompting governments to reconsider their stance on recreational cannabis. The increasing public awareness of the medicinal properties of cannabis is also contributing to the changing perceptions of cannabis in the region.

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.