Cannabis

Switzerland's revenue in the Cannabis market is projected to reach US$138.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.07%, resulting in a market volume of US$153.90m by 2029.
In global comparison, most revenue will be generated the United States (US$42.98bn in 2024).
In relation to total population figures, per person revenues of US$35.74 are generated in 2024.
Switzerland's Cannabis market is seeing a surge in demand for CBD products due to the country's progressive regulations and growing acceptance of alternative therapies.

Definition:
The Cannabis market covers products derived from the cannabis plant used for medical or recreational purposes. These products may include dried flowers, oils, edibles, tinctures, and topicals. Depending on the regulations in each country or state, these products are provided by dispensaries, pharmacies, and/or online platforms. They may be consumed in the form of smoking, vaporizing, eating, or applying topically.

Structure:
The market includes Medical, Pharmaceutical, and Recreational Cannabis as well as CBD Products. The Medical and Pharmaceutical Cannabis markets include products used to treat conditions such as chronic pain, mental disorders, and other medical conditions. The Recreational Cannabis and the the CBD Products markets include products used for personal enjoyment or leisure purposes. All cannabis markets include various forms of cannabis such as flowers, concentrates, edibles, and topicals.

Additional information:
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), companies (B2B), and governments (B2G).

Company examples: Canopy Growth Corporation, Aurora Cannabis, Curaleaf Holdings, Tilray, Green Thumb Industries, Trulieve Cannabis, Verano Holdings.

Recreational Cannabis
Medical Cannabis
Pharmaceutical Cannabis
CBD Products

Illegal cannabis
Cannabis cultivated for private use

Switzerland, known for its picturesque landscapes and high quality of life, has seen a notable evolution in its Cannabis market in recent years.

Customer preferences: In Switzerland, there is a growing trend towards organic and sustainably sourced Cannabis products. Consumers are increasingly seeking out products that are not only of high quality but also produced in an environmentally friendly manner. This shift in consumer preferences is driving the market towards more sustainable practices and products.

Trends in the market: One of the key trends in the Swiss Cannabis market is the increasing acceptance and legalization of Cannabis for both medical and recreational use. This changing regulatory landscape has opened up new opportunities for businesses operating in the Cannabis industry. As a result, there has been a proliferation of Cannabis-related products and services in the market, catering to a diverse range of consumer needs and preferences.

Local special circumstances: Switzerland's unique position as a global financial hub has also had an impact on the Cannabis market in the country. The presence of a well-established banking sector has facilitated investment in Cannabis businesses and startups, leading to further growth and innovation in the market. Additionally, Switzerland's reputation for quality and precision has positioned it as a leader in the production of high-quality Cannabis products, attracting consumers both domestically and internationally.

Underlying macroeconomic factors: The stable and prosperous economy of Switzerland has provided a conducive environment for the growth of the Cannabis market. With high levels of disposable income and a strong culture of entrepreneurship, the country has seen a rise in Cannabis startups and businesses looking to capitalize on the expanding market. Moreover, the country's progressive stance on Cannabis regulation and legalization has created a favorable business environment, encouraging investment and innovation in the industry.

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.