Recreational Cannabis - Spain | Statista Market Forecast

Revenue in the Recreational Cannabis market market in Spain is forecasted to reach US$1.53bn in 2024.
Revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.94%, leading to a market volume of US$1.94bn by 2029.
When compared globally, the United States will generate the most revenue (US$24.96bn in 2024).
In terms of total population figures, per person revenues of US$679.40 are generated in 2024.
Spain's recreational cannabis market is blossoming with a surge in boutique dispensaries, catering to a growing demand for premium products.

Definition:
The Recreational Cannabis market encompasses products derived from the cannabis plant that are used for leisure or personal enjoyment. These products can include dried flowers, oils, edibles, tinctures, and topicals. The availability of these products is subject to the regulations in each country or state, and they can be obtained from dispensaries, retail stores, or online platforms. Consumption methods vary, and can include smoking, vaporizing, eating, or applying topically.

Structure:
The Recreational Cannabis market is a subset of the broader cannabis market, which also includes medical and pharmaceutical cannabis as well as CBD products. The Recreational Cannabis market specifically pertains to products used for personal enjoyment, as opposed to the medical and pharmaceutical markets which focus on products used for treating medical conditions. The market includes various forms of cannabis such as flowers, concentrates, edibles, and topicals.

Additional information:
The market values represent the revenues generated by retail prices paid to vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C).

Cannabis containing THC used for recreational purposes
Extracts
Dried cannabis
Edibles
Beverages

Medical cannabis
Pharmaceutical cannabis
CBD Products

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

Customer preferences: Customers in Spain are increasingly drawn to the recreational cannabis market due to a shift in societal attitudes towards cannabis consumption. The growing acceptance of cannabis for recreational use, coupled with a desire for alternative forms of relaxation and socialization, has fueled the demand for recreational cannabis products in the country.

Trends in the market: One notable trend in the Spanish recreational cannabis market is the rise of specialized cannabis clubs. These clubs provide a social and legal space for individuals to consume cannabis in a controlled environment, catering to the preferences of consumers who value community and responsible consumption practices. Additionally, the market has seen an increase in the availability of diverse cannabis products, such as edibles and concentrates, reflecting evolving consumer preferences and demands.

Local special circumstances: Spain's unique regulatory landscape has also influenced the development of the recreational cannabis market. The country has a decentralized approach to cannabis legislation, with regions like Catalonia and the Basque Country implementing their own regulations regarding cannabis cultivation and consumption. This decentralized framework has allowed for experimentation and innovation within the market, contributing to its dynamic growth.

Underlying macroeconomic factors: From a macroeconomic perspective, Spain's economic recovery following the global financial crisis has played a role in the expansion of the recreational cannabis market. As disposable incomes have increased and unemployment rates have declined, consumers have shown a greater willingness to spend on recreational activities, including cannabis consumption. This economic stability has created a favorable environment for the growth of the market, attracting both domestic and international investors looking to capitalize on the evolving cannabis industry in Spain.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Cannabis or marijuana, the psychoactive drug from the cannabis plant is growing in popularity around the globe, both for recreational and medicinal uses. While there are many countries that have legalized cannabis in some capacity for medical purposes, only a handful have done so for recreational use. Even though cannabis is not federally legal in the United States, the combined legal states represent the largest market in the world. After the U.S., Canada, which legalized cannabis nation-wide in 2018 represents the next largest market. In 2021, a new coalition government was formed in Germany that indicated that the legalization of cannabis was on their agenda. Germany would be the largest legal adult-use market in Europe and would act as a test case for other countries on the continent considering the merits of legalization.