Strong movements across Western European markets towards the legalisation of medical and recreational cannabis are expected to reshape the undeveloped Western European cannabis market, and accelerate the migration from the massive illicit cannabis market to the legal one.
This report comes in PPT.
The cannabis market in Western Europe is forecast to grow by a 25% CAGR over 2021-2026, driven by the legalisation of medical cannabis in several European markets and the positive development of CBD in the region. Although illicit cannabis will retain a strong presence and will still represent the bulk of value sales by the end of the forecast period, the wider availability of CBD and medical cannabis products will sustain legal cannabis growth and accelerate the migration away from the illicit market.
Although there is partial legalisation or decriminalisation of cannabis growing in the region, this is yet to transform into real development of the industry. While many countries have legalised medical cannabis, access is restricted to certain products and medical conditions. At the same time, innovation within the CBD industry is constrained by low THC limits across countries.
No country in Western Europe has yet legalised recreational cannabis, but the region has some of the most developed cannabis cultures in the world, such as in the Netherlands and Spain. However, great differences persist among consumers, with older generations typically being more reluctant to allow cannabis use. Clear generational and social gaps still exist that make legalisation and development of the market a slow process, although the potential legalisation of adult-use cannabis in Germany is likely to accelerate the cannabis debate within the EU and promote the development of the industry at a regional level.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!