European Cannabis market – an overview
European Cannabis market – an overview
Marijuana is growing at an exponential pace around the world. In this video, you can get a perspective of the growth in Europe.
European CBD market, which is expected to be worth $416 million by the end of 2019, is projected to be worth $1.7 billion by 2023. The cannabis market in general — which includes all cannabis products, including recreational — is also set to experience rapid growth, from $318 million in 2018 to nearly $8 billion by 2023.
According to Prohibition Partners and the Davos World Economic Forum, Europe’s medical cannabis market could double in size in 2019.
The European cannabis market’s value soared last year, with 500 million euros invested in the market – and most of this was being funnelled into distribution and cultivation licenses. However, such investments could be just the beginning for the medical cannabis market, as according to the Davos report, many combined European countries are now forecasted to become the world’s largest federally regulated medical cannabis market over the next five years.
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