The state of medical cannabis in Europe according to PP

A Short Summary

“The European Cannabis Report: 9th Edition" (2023) by Prohibition Partners provides a comprehensive analysis of the European cannabis market, covering medical, adult-use, and CBD sectors. The report highlights significant regulatory advancements, market growth, emerging trends, and future projections across various European countries.

Previous editions of "The European Cannabis Report" have consistently provided valuable insights into the evolving cannabis landscape in Europe. The 8th edition detailed the market size and growth trajectory for medical cannabis across 29 European countries, while the 7th edition emphasized the progress in CBD legislation and the growing investments from North American companies in the European market​.

8th Edition vs. 9th Edition

The 9th Edition of The European Cannabis Report brings several significant updates and new insights that were absent in the previous edition. One of the most notable developments is Germany's legalization of adult-use cannabis in April 2024, allowing for possession, cultivation, and consumption. This move marks a pivotal shift in Europe's largest economy and is expected to have far-reaching implications for the industry.

In addition to that, it also covers the major transition France is currently undergoing, moving from its pilot program to a fully integrated cannabis treatment system and set to be operational by early 2025. This shift represents a significant advancement in the country's approach to medical cannabis. Additionally, Ukraine has entered the scene by legalizing medical cannabis in February 2024, with a regulatory framework expected by August 2024, adding a new player to the European cannabis landscape which is discussed in this new Prohibition Partners report along with covering ongoing developments in Spain and Malta.

The report provides updated market size estimates, projecting the European medical cannabis market to be worth €834 million in 2024, the adult-use cannabis market at €255 million, and the CBD market at €1.97 billion. These figures offer a fresh perspective on the industry's economic potential.

The 9th Edition places a strong emphasis on innovations in product formulations and dosage forms, which are enhancing treatment options and improving patient outcomes. This focus on innovation and new product development is more pronounced compared to the previous edition.

Additionally, the report incorporates valuable lessons from the North American market, particularly in managing overproduction and price compression, providing a comparative analysis that was not featured before. The need for increased education and access for both patients and healthcare professionals is underscored, highlighting the importance of fully realizing the potential of cannabis treatments.

The regulatory landscape is examined in greater detail, identifying persistent barriers and the opportunities they present for businesses that can effectively navigate these challenges. This comprehensive and current analysis sets the 9th Edition apart, offering a detailed look at the evolving European cannabis industry and its future trajectory.

A Sneak Peek into American Wisdom

As a cannabis business owner in Europe, understanding the North American market offers invaluable lessons that can help you navigate and thrive in the evolving European landscape. The North American cannabis industry has faced and managed challenges such as overproduction, price compression, and regulatory complexities that Europe is beginning to encounter. Additionally, North American businesses have pioneered innovative product formulations and efficient distribution models that can inspire and potentially improve the approach of emerging European cannabis actors.

In this report, Prohibition Partners gets specific about how the North American cannabis market, a decade ahead of the Old Continent, The 9th Edition of The European Cannabis Report emphasizes the importance of learning from the North American cannabis market, which offers valuable lessons for European business owners. The North American market, which is over a decade ahead of Europe, provides insights into what works and what doesn't, particularly in terms of lighting and cultivation practices, as well as state-by-state legalization dynamics. For instance, the report highlights how North American growers have benefited significantly from transitioning to high-intensity LED lighting, which reduces energy consumption and increases yields. This technology shift has shown to improve quality and result in higher prices from buyers, a crucial lesson for European cultivators.

The rise and subsequent fall of massive operators in North America serve as a cautionary tale. Initially, the 'green rush' promised unparalleled profits, but overproduction led to severe price compression. Cannabis prices dropped drastically, forcing cultivators to adapt to survive. The report emphasizes that North America's largest operators struggled to dominate the market, whereas smaller, more specialized companies and craft growers thrived due to their ability to pivot quickly. This suggests that European businesses should focus on agility and specialization to avoid similar pitfalls.

Moreover, North American experiences underscore the importance of controlling production costs from the start, rather than waiting for market pressures to force changes. The report points out that some North American growers made costly mistakes by choosing low-priced, unproven suppliers, which ultimately led to significant losses. European growers can avoid these errors by partnering with trusted suppliers who have extensive experience and a proven track record.

Finally, the report suggests that Europe's evolving market could benefit from adopting North American strategies for consumer-driven product development. In North America, consumer preferences have shifted towards edibles, gummies, disposable cartridges, and small pre-rolls. While European markets, such as Germany, are starting with home grows and pharmacy prescriptions, understanding and anticipating consumer demands will be crucial for long-term success.

Should You Buy It ?

All in all, the 9th edition of this detailed cannabis analytical saga is an indispensable resource for anyone involved in the cannabis industry, offering a wealth of information and insights that make it well worth the investment. The report provides a comprehensive analysis of the current state and future prospects of the European cannabis market, covering key regulatory changes, market growth, and valuable lessons from North American experiences.

For those looking to delve deeper, several packages are available. The European Medical Market Sizing & Analysis (2024-2028) package, priced at £949, offers detailed forecasts and trends specific to the medical cannabis sector. The Full Market Sizing & Analysis package, covering Medical, CBD, and Adult-Use markets from 2024 to 2028, is available for £1,795 and provides a more extensive overview, making it ideal for businesses looking to understand the entire market landscape. For the most comprehensive insight, the Full Market Sizing, Analysis & Market Intelligence Briefing Consultation package, priced at £2,695, includes detailed analysis and a consultation service, offering personalized market intelligence to help navigate the complexities of the cannabis industry.

Even without opting for these detailed packages, the report itself is a valuable read, offering critical insights and thorough analysis that can help businesses stay informed and competitive in this rapidly evolving market. Whether you are looking to stay ahead of regulatory changes, understand market dynamics, or draw lessons from North American markets, this report is a worthwhile investment for anyone serious about succeeding in the European cannabis industry.

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