Cannabis - Argentina

Argentina

Argentina is expected to see a revenue of €129.30m in the Cannabis market by 2024.
The revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 0.32%, leading to a market volume of €131.40m by 2029.
When compared globally, the United States is projected to generate the most revenue, reaching €39,440.00m in 2024.
In terms of per person revenues in 2024, €0.05k are generated based on total population figures.
Argentina's cannabis market is experiencing a surge in investment and regulatory changes, positioning it as a key player in the global cannabis industry.

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

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Región

Comparación de regiones

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Analyst Opinion

Argentina is experiencing a significant growth in its Cannabis market, driven by changing customer preferences, evolving trends, and unique local circumstances.

Customer preferences: Consumers in Argentina are increasingly turning to Cannabis products for both medicinal and recreational purposes. The growing awareness of the potential health benefits of Cannabis is driving demand for medical marijuana products. Additionally, there is a shift in consumer preferences towards alternative and natural remedies, leading to a rise in the consumption of Cannabis-based products.

Trends in the market: One of the key trends in the Cannabis market in Argentina is the legalization of medical marijuana. The government's decision to legalize the use of Cannabis for medical purposes has opened up new opportunities for companies operating in the market. This trend is expected to continue as more research highlights the therapeutic benefits of Cannabis. Moreover, there is a growing trend towards the decriminalization of recreational marijuana in Argentina. As attitudes towards Cannabis continue to evolve globally, there is increasing pressure on policymakers to reconsider existing laws and regulations related to recreational marijuana use. This trend is likely to shape the future of the Cannabis market in Argentina.

Local special circumstances: Argentina's unique agricultural landscape and favorable climate make it well-suited for Cannabis cultivation. The country's rich agricultural tradition and expertise position it as a potential leader in Cannabis production. Additionally, the presence of a skilled workforce and supportive government policies further contribute to the growth of the Cannabis market in Argentina. Furthermore, the cultural acceptance of Cannabis in Argentina plays a significant role in shaping the market. With a long history of Cannabis consumption in the country, there is a level of social acceptance that is conducive to the growth of the market. This cultural factor distinguishes Argentina's Cannabis market from others in the region.

Underlying macroeconomic factors: The economic landscape in Argentina, characterized by periods of volatility and inflation, has also influenced the Cannabis market. As traditional industries face challenges, the Cannabis sector presents new opportunities for economic growth and investment. The potential for job creation and revenue generation has attracted interest from both domestic and international investors, further driving the development of the 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.