We are proud to be a part of #WTAsia2023, the only Asian tobacco event designed specifically for the next generation of smokers on 21-22 September 2023 in Surabaya, Indonesia.
The impact of regulation across both the tobacco and the cannabis industries is immense, with the former experiencing ever-tightening frameworks, often even on newer, perceived less harmful forms of consumption, and the latter going through a period of rapid, if uneven, liberalisation. This theme examines the key elements of regulatory mechanics in each industry, analysing where one may influence the other in the longer term.
Euromonitor International's Shane MacGuill, Head of Nicotine and Cannabis research, spoke recently to leading independent podcast The Cannabis Review about how we developed our research and analysis on the emerging legal cannabinoid space, how it interacts with other CPG industries and the future evolution of the European market.
The global market for legalised cannabis was worth USD41 billion in 2022 and is projected to generate USD100 billion by 2027, according to Euromonitor International. Due to its small customer base, the Czech Republic accounts for just 0.1% of the total worth of European value.
After a booming summer for socialising, things are starting to cool off. Inflation and the cost of living crisis are catching up with consumers who might still have some pent-up desire to go out. These conflicting desires leave consumers dangling between spend and save, while still looking for ways to continue their social lives.