CBD Products - Finland

Finland

In Finland, revenue in the CBD Products market is forecasted to reach US$29.62m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.34%, leading to a market volume of US$30.13m by 2029.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$2,575.00m in 2024.
In terms of per capita figures, US$23.87 in revenue is generated per person in 2024.
In Finland, the rising demand for CBD products in the cannabis market reflects a growing acceptance of alternative wellness solutions.

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

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Analyst Opinion

The demand for CBD products in Finland has been steadily increasing in recent years, reflecting a growing trend towards natural health and wellness products in the country.

Customer preferences: Finnish consumers are showing a preference for CBD products due to their perceived health benefits and holistic approach to well-being. The trend towards natural remedies and alternative medicine has driven the demand for CBD products, as people seek out non-pharmaceutical solutions for various health issues.

Trends in the market: One of the key trends in the CBD products market in Finland is the diversification of product offerings. Companies are introducing a wide range of CBD-infused products, including oils, edibles, skincare products, and beverages, to cater to different consumer preferences. This diversification is attracting a broader customer base and driving market growth.

Local special circumstances: Finland's strict regulations on CBD products have played a significant role in shaping the market. The country has specific rules regarding the THC content in CBD products, ensuring that they comply with legal requirements. This regulatory framework has helped build trust among consumers and has contributed to the overall growth of the market.

Underlying macroeconomic factors: The overall economic stability in Finland has also had a positive impact on the CBD products market. With a strong economy and high disposable income levels, Finnish consumers have the purchasing power to invest in premium CBD products. This favorable economic environment has created opportunities for both domestic and international CBD brands to expand their presence in the Finnish 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.