The European Cannabis Report: 6th Edition, published today by Prohibition Partners, is now available for download in Atalis™ Beta. Both Lite and Premium subscribers can download the report free of charge.
The report takes a detailed look at the progress of adult-use cannabis legalisation across Europe, trade flows on the continent, business opportunities, medical products available on the market, and the patients who benefit from using them. Also considered and explored is the effect of COVID-19 on the European market, and what this means for the year ahead.
Last year was a massive year for cannabis: not just in Europe, but all over the world. Q4 2020 in particular saw a slew of significant developments. The European Court of Justice emphatically ruled that CBD was not to be considered a narcotic, under EU Law. A matter of weeks later, the United Nations removed cannabis and its derivatives from Schedule IV of the Single Convention on Narcotic Drugs: a move which officially recognised the medical potential of cannabis.
In The European Cannabis Report: 6th Edition, Prohibition Partners estimates that over 60,000 people were able to access cannabis medications for the first time in Europe last year, bringing the total to 185,000 patients accessing medical cannabis treatment in the region during 2021. Overall, the report estimates the value of the market for medical cannabis to be worth €230.7 million as of the end of 2020.
The value of European cannabis, the report predicts, will grow with a Compound Annual Growth Rate (CAGR) of 67.4%, reaching some €3.2 billion by the end of 2025. Prohibition Partners’ approach to forecasting the European cannabis industry has its foundation in the database of historical data points (sales, patients, volumes, imports, prices etc.) – all available in Atalis™ Beta.
As the patient access to medical cannabis advances across Europe, so too do the opportunities for businesses to embed themselves in niches of the value chain, before the market becomes more established. The European Cannabis Report: 6th Edition is designed to support businesses in doing so.
Key highlights from the report include:
● The European cannabis market will be worth €403.4 million by the end of 2021. We expect the market to grow with a CAGR of 67.4% from 2021 to reach €3.2 billion by 2025.
● By the end of the forecast period, Prohibition Partners expects several nations to introduce legal access to adult-use cannabis including Netherlands, Switzerland, Germany and others. We estimate these sales could be worth over €500 million by 2025.
● Germany will constitute over half of the European market until 2024 and will be worth over €840 million by the end of the forecast period. By 2025, large countries like France and the UK will have developed their patient access considerably and will represent a significant share of the European market.
Download the Report in Atalis™ Beta
Both Atalis™ Beta Lite and Atalis™ Beta Premium subscribers can download The European Cannabis Report: 6th Edition free of charge by logging into their account. The report is available for direct download in the Reports section.