Cannabis - Greece

Greece

The Cannabis market in Greece is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$39.09m in 2024.
Furthermore, it is anticipated that this revenue will experience a compound annual growth rate (CAGR) of 2.34% between 2024 and 2029, resulting in a market volume of US$43.88m by the end of 2029.
When compared globally, it is noteworthy that in the United States is projected to generate the highest revenue in the Cannabis market, with an estimated value of US$42.98bn in 2024.
This indicates the significant scale of the market in the US.
In terms of per capita revenue, in Greece is expected to generate approximately US$0.04k per person in 2024.
This figure demonstrates the economic impact of the Cannabis market on the Greek population.
Greece's cannabis market is burgeoning as the government embraces the potential economic benefits of legalization.

Key regions: United States, Canada, Netherlands, Germany, Thailand

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Analyst Opinion

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

Customer preferences: Customers in Greece are increasingly showing interest in cannabis products for both medicinal and recreational purposes. The shift in preferences towards natural and alternative remedies has contributed to the growing demand for cannabis-based products in the market. Additionally, the increasing awareness about the potential health benefits of cannabis has attracted a wider customer base.

Trends in the market: One of the notable trends in the Greek cannabis market is the gradual legalization of medical cannabis. The government's efforts to regulate and legalize the production and sale of medical cannabis have opened up new opportunities for businesses in the market. As a result, there has been a surge in the number of companies entering the market and offering a variety of cannabis products to meet the growing demand.

Local special circumstances: Greece's geographical location and climate provide ideal conditions for cannabis cultivation. The country's warm climate and ample sunlight create favorable growing conditions for cannabis plants, allowing for high-quality production. This advantage has positioned Greece as a potential hub for cannabis cultivation in Europe, attracting investments and boosting the local economy.

Underlying macroeconomic factors: The evolving regulatory landscape and government support have played a crucial role in shaping the cannabis market in Greece. The legalization of medical cannabis and the establishment of licensing frameworks have provided a clear path for businesses to operate legally in the market. Additionally, the potential economic benefits associated with the cannabis industry, such as job creation and tax revenues, have encouraged further growth and investment in the sector.

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.