Cannabis - Poland

Poland

The Cannabis market in Poland is expected to experience significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$134.80m PLN by 2024.
Furthermore, the market is anticipated to exhibit a compound annual growth rate (CAGR 2024-2029) of 3.56%, leading to a market volume of US$160.60m PLN by 2029.
When compared to other countries globally, it is worth noting that in the United States is expected to generate the highest revenue in the Cannabis market, with an estimated value of US$42.98bn PLN in 2024.
In terms of per capita revenue, in Poland is projected to generate approximately US$0.04k PLN per person in 2024.
This indicates the potential profitability of the Cannabis market in relation to the country's population.
Poland's cannabis market is experiencing a surge in demand as the country's medical marijuana program gains traction.

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

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Analyst Opinion

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

Customer preferences: Customers in Poland are increasingly showing interest in cannabis products for both medicinal and recreational purposes. The growing awareness of the potential health benefits of cannabis is driving demand among consumers. Additionally, the changing societal attitudes towards cannabis are influencing customer preferences, leading to a shift towards more accepting views on its use.

Trends in the market: One notable trend in the Polish Cannabis market is the increasing availability of CBD products. As CBD is non-psychoactive and legal in Poland, there has been a surge in the popularity of CBD-infused products such as oils, edibles, and cosmetics. This trend is in line with the global movement towards natural and alternative health remedies. Another trend is the emergence of a domestic cannabis cultivation industry in Poland, as more companies are investing in local production to meet the growing demand.

Local special circumstances: Poland's strict regulations on THC-containing cannabis products have created a unique market environment. While CBD products are widely available, THC products are heavily regulated, limiting the variety of products in the market. This has led to a focus on CBD-based offerings and innovative product development within the legal boundaries. Additionally, the cultural perceptions of cannabis in Poland play a role in shaping the market, with traditional attitudes towards cannabis slowly evolving.

Underlying macroeconomic factors: The economic growth and rising disposable income in Poland have contributed to the expansion of the Cannabis market. As consumers have more purchasing power, they are increasingly willing to explore new products and trends, including those in the cannabis industry. Furthermore, the regulatory framework around cannabis in Poland is gradually evolving, creating opportunities for market growth and investment. These macroeconomic factors are likely to continue supporting the development of the Cannabis market in Poland in the coming years.

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.