Key regions: Spain, South Africa, Europe, Netherlands, Australia
The Recreational Cannabis market in South America is experiencing a notable surge in demand and growth, driven by evolving customer preferences, changing regulations, and unique local circumstances.
Customer preferences: Customers in South America are increasingly seeking out a wider variety of recreational cannabis products, including edibles, concentrates, and topicals, reflecting a global trend towards diversification in consumption. This shift in preferences is influenced by a growing acceptance of cannabis use for recreational purposes and a desire for more convenient and discreet consumption methods.
Trends in the market: In countries like Uruguay and Argentina, there is a growing trend towards the legalization and regulation of recreational cannabis, which has opened up new opportunities for businesses and investors in the market. Additionally, the rise of online platforms and delivery services is making it easier for consumers to access a wider range of products and brands, driving competition and innovation in the market.
Local special circumstances: Each country in South America has its own unique set of regulations and cultural attitudes towards cannabis, shaping the development of the recreational market in different ways. For example, Uruguay was the first country in the world to fully legalize recreational cannabis, leading to a more established market with a focus on quality and sustainability. In contrast, countries like Brazil and Colombia are still navigating the complexities of legalization, creating opportunities for both local and international players to enter the market.
Underlying macroeconomic factors: The economic landscape in South America, including factors such as inflation, currency devaluation, and political stability, can significantly impact the growth and development of the recreational cannabis market. Economic challenges in certain countries may hinder investment and consumer spending, while more stable economies can provide a conducive environment for market expansion and innovation. Overall, the interplay between customer preferences, regulatory trends, local circumstances, and macroeconomic factors is shaping the dynamic landscape of the recreational cannabis market in South America.
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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