The state of the worldwide cannabis business exhibits us that in January 2019, a complete of 19 nations within the European Union and/or the Council of Europe have legalized some sort of cannabis rising, manufacturing, gross sales, and use. Cannabiz Media is actively including worldwide cannabis licenses into the Cannabiz Media License Database, together with licenses in Europe.
The 19 European nations which have legalized some type of cannabis use and/or gross sales are:
- Czech Republic
- San Marino
- United Kingdom
Analysis from the Brightfield Group studies that authorized medical cannabis gross sales in Europe throughout 2018 totaled $316 million, and that market is predicted to develop to just about $Eight billion by 2023 with the quickest rising markets projected to be the UK and France.
The European cannabis market remains to be small compared to U.S. and Canadian markets, however it’s poised for important development. Of the medical cannabis offered in Europe throughout 2018, 76% of these gross sales got here from Germany, adopted by Italy (16%), The Netherlands (4%), and all different nations in Europe (3%).
Hashish Imports and Exports in Europe
Imports and exports are nonetheless the norm in Europe. The most important producer of medical cannabis offered in Europe in 2018 was The Netherlands (61%), adopted by Canada (35%) and Italy (4%).
The 4 firms supplying the vast majority of cannabis to nations in Europe are Aurora Hashish, Cover Development, Tilray, and Cronos Group (all out of Canada) in addition to Bedrocan (the one grower in The Netherlands).
For instance, in 2018, Germany (the biggest European cannabis market) imported the vast majority of the medical cannabis flower offered within the nation from Bedrocan, adopted by Cover Development, Aurora Hashish, and Cronos Group. In truth, the overwhelming majority of medical cannabis flower exported from the Netherlands goes to Germany (73%), adopted by Italy (20%) and all different nations (7%).
Hashish Gross sales in Europe
Whereas Germany received’t have a home harvest till 2020, that hasn’t stopped gross sales. In 2018, extra authorized medical marijuana gross sales occurred in Germany ($73 million) than another European nation. The Brightfield Group estimates that authorized medical cannabis gross sales in Germany will attain $2.7 billion by 2023.
Italy ranked because the second largest medical cannabis market in Europe in 2018 based mostly on gross sales, however a lot of the cannabis offered throughout the nation is imported, primarily from The Netherlands.
Apparently, the cannabis market in The Netherlands remains to be fairly small, however the nation is testing legalization of leisure marijuana. Brightfield Group estimates that the home market might develop to $1 billion by 2023.
The Czech Republic ranks as one other massive European cannabis market. Just one small cultivator is in operation, so the nation depends on imports to fulfill demand.
With all the importing and exporting of cannabis occurring in Europe, Portugal is gaining traction as a key distribution hub in response to the Brightfield Group.
The Way forward for the Hashish Trade in Europe
All indicators level to important development of the cannabis business in Europe, however with that development will come adjustments.
In February of this yr, the European Parliament accepted a movement for decision on cannabis for medicinal functions that will prioritize scientific analysis of cannabis and have the members of the European Union rethink home legalization.
When it comes to importing and exporting, the image of the cannabis business will change when Germany begins harvesting its personal cannabis on the market. In The Netherlands, the nation is working to extend medical cannabis cultivation by making a cultivation software course of, which might finish Bedrocan’s monopoly.
Within the meantime, the massive Canadian gamers are shopping for land in strategic European places in an effort to increase their very own operations within the area. Canada’s Aurora Hashish and Aphria have been two of the businesses chosen to develop cannabis in Germany for a interval of 4 years. Berlin-based Demecan additionally obtained a four-year contract to develop cannabis in Germany.
In keeping with The European Hashish Report, 4th Version by Prohibition Companions, there’s a 60% to 70% probability that cannabis shall be authorized in Europe throughout the subsequent three years with the vast majority of Europe projected to legalize cannabis by 2020. The market sizes of 5 key European cannabis markets by 2020 (post-legalization) are estimated within the report as follows:
- France: €18.6 billion (€9.5 billion medical and €9.7 billion leisure)
- United Kingdom: €18.Four billion (€8.Eight billion medical and €9.6 billion leisure)
- Germany: €16.2 billion (€7.7 billion medical and €8.5 billion leisure)
- Italy: €15.7 billion (€7.5 billion medical and €8.2 billion leisure)
- Spain: €8.Three billion (€Three billion medical and €5.Three billion leisure)
Key Takeaways in regards to the European Hashish Trade
Development potential – that’s the key takeaway when speaking in regards to the European cannabis business. Whether or not you’re referring to cultivation, manufacturing, distribution, or gross sales, the fact is that the potential for development within the European cannabis market is important.
If you happen to’re interested by connecting with European cannabis license holders to leverage the alternatives on this a part of the world, schedule a free demo of the Cannabiz Media License Database the place you could find all the information it’s good to make it occur.
Susan Gunelius, Lead Analyst for Cannabiz Media and writer of Marijuana Licensing Reference Information: 2017 Version, can be President & CEO of KeySplash Inventive, Inc., a advertising communications firm providing, copywriting, content material advertising, e-mail advertising, social media advertising, and strategic branding companies. She spent the primary half of her 25-year profession directing advertising applications for AT&T and HSBC. At present, her purchasers embody family manufacturers like Citigroup, Cox Communications, Intuit, and extra in addition to small companies around the globe. Susan has written 11 marketing-related books, together with the extremely common Content material Advertising and marketing for Dummies, 30-Minute Social Media Advertising and marketing, Kick-ass Copywriting in 10 Straightforward Steps, The Final Information to Electronic mail Advertising and marketing, and he or she is a well-liked advertising and branding keynote speaker. She can be a Licensed Profession Coach and Founder and Editor in Chief of Girls on Enterprise, an award-winning weblog for enterprise ladies. Susan holds a B.S. in advertising and an M.B.A in administration and technique.