For entrepreneurs and investors interested in European health-related cannabis markets, a new report from Marijuana Small business Everyday gives a realistic snapshot of present possibilities and how future demand could evolve.
The report – “Medical Cannabis in Europe: The Markets & Opportunities” – was written by MJBizDaily‘s international analyst, Alfredo Pascual.
For organizations to make forecasts with any semblance of certainty, Pascual stated it is additional vital than ever to initially get a clear, precise image of what is taking place now.
“It’s the initially report that estimates for the year 2018 how substantially was sold in every relevant nation, the sorts of goods, how these had been distributed and exactly where they had been made,” Pascual stated.
Only 3 nations in Europe – Germany, Italy and the Netherlands – had meaningful sales of health-related cannabis that year, according to the report.
Year-more than-year sales doubled in Europe from 2017 to 2018, underpinned by robust demand in Germany and Italy, even though the quantity of MMJ prescriptions decreased in the Netherlands in that time.
Other nations in the European Union took actions in the ideal path, either advancing legislation or introducing (or enhancing) regulations.
Tracking the regulatory progress of these markets is vital because it requires years to create a functional health-related cannabis business – and some markets get snagged more than poor, or slow-moving, regulations.
“The quantity of nations with some health-related cannabis legislation and their population numbers need to be interpreted with caution,” Pascual stated. “To have a comprehensive image, organizations and investors interested in the European market place need to also look at how substantially it is essentially becoming sold and how restrictive regulations are.”
“Significant time could pass from the moment a nation approves particular health-related cannabis legislation and a genuine market place emerges.”
Examples supplied of this had been the Czech Republic, Croatia and North Macedonia, which nevertheless have insignificant markets years right after their applications started to be implemented.
The report, which is accessible as a totally free download, finds quick possibilities consist of:
- Export to Germany, which will rely on imports for the foreseeable future to meet its domestic demand.
- Setting up cultivation or production facilities in the nations that enable it or are preparing for it, such as Cyprus, Denmark, Greece, Malta, North Macedonia and Portugal.
This report also covers:
- International policy considerations at a United Nations and European Union level.
- The Large Markets: Germany, Italy and the Netherlands.
- Nations that created a framework with a key objective of exporting.
- Nations that have smaller sized national applications.
- The subsequent huge European nations that could tip the scales.
Pascual stated the report identifies bottlenecks in the most relevant nations, which need to be of interest for organizations in the sector.
“It shows an overview of every nation that makes it possible for domestic cultivation,” he stated.