As cannabis starts to appear in the headlines around the world, both consumers and companies have started to show interest in experimenting with cannabis products.
The tobacco and nicotine market is changing rapidly and the environment in which it operates is more turbulent than ever. Euromonitor is delighted to introduce a new tool, the Tobacco Forecast Model, that can assist in plotting a course through this disruption and navigate future market evolution.
In 2022, Euromonitor researched the Japanese cannabis market for the first time. While only in its initial stages, there are high growth opportunities, particularly among health-conscious Japanese consumers, given inherent demand for better sleep and pain relief.
What are need states, and why do they matter? Read on to understand the concept, its impact on product development, and crucially, why it cannot be ignored.
The US dominates the global cannabis market, generating 81% total value share in 2021. At the same time, European countries account for 8% share of worldwide value following Canada with 9%. Poland is responsible for an 8% value share of European countries; adult-use is prohibited by law, medical cannabis is only legal with a prescription, while CBD is freely available.
Indonesia is the second largest cigarette market in the world, and is the largest market meaningfully accessible to international companies, given trading restrictions in China. Smoking levels remain high and despite economic and regulatory threats to demand, this remains a key market to watch for tobacco.