Recreational Cannabis - Spain

Spain

Revenue in the Recreational Cannabis market market in Spain is forecasted to reach €1.42bn in 2024.
Revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 5.09%, leading to a market volume of €1.82bn by 2029.
When compared globally, the United States will generate the most revenue (€23.15bn in 2024).
In terms of total population figures, per person revenues of €630.00 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.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

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.

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.