The European cannabis market is predicted to become a $136 billion industry by 2028, according to the fourth European Cannabis Report that was published by Prohibition Partners. This is more than four times the projected market value of the U.S. cannabis market, which is estimated to be worth $30 billion by 2025. As of February 2019, $555 million had already been invested in the European cannabis market. Further, the value of the European cannabis market increased more throughout 2018 than it did in the previous six years.
Assuming that all the countries will have legalized medical cannabis and regulated recreational use by 2023, Europe is expected to become the world’s largest legal cannabis market within the next five years, mainly due to the medical sector, which is forecast to account for up to $64 billion by 2028. Industry leaders like Germany, Italy, and the Netherlands have set their focus on expanding existing medical marijuana programs. Here are some other findings: