The legal cannabis market in Europe is expected to reach 3.2 billion euros by 2025

The European cannabis is expected to grow at a compound annual growth rate of 67.4% to reach 3.2 billion euros by 2025, according to the latest report from Prohibition Partners, which highlights how 60,000 people gained access to cannabis-based medicines for the first time in Europe in 2020, bringing the total to 185,000 patients for the year.

Germany, which now accounts for almost the entire market, Germany will continue to account for more than half of the European market until 2024. Imports of medical cannabis into the German market rose by 37% last year, bringing the total to 9.3 tonnes of product consumed.

The report assumes that by 2025, France and the UK will have significantly expanded patient access to medical cannabis. If regulation continues to evolve as they expect, the UK medical cannabis market could show the most significant growth of any country in Europe by 2025.

With adult-use cannabis not yet legalized anywhere in Europe, the market for legal cannabis products in Europe remains entirely medical. This balance is set to change over the next four years, as more and more countries open up to the prospect of legalizing adult-use cannabis.

The Prohibition Partners report identifies several European countries that could introduce legal access to adult-use cannabis by 2025, including The Netherlands, Switzerland and Germany. Sales of adult-use cannabis could exceed 500 million euros by 2025.

This progression of medical and adult-use cannabis will contribute to exponential growth over the next four years. By 2025, Prohibition Partners estimates that the European cannabis market will be worth €3.2 billion.

Stephen Murphy, co-founder and CEO of Prohibition Partners, Europe is beginning to realize its potential as the world's leading cannabis market. Since the 1st edition of The European Cannabis Report published 4 years ago, enormous progress has been made in patient access and cannabis education. We're only at the very beginning of our cannabis journey in Europe but there's irrefutable momentum to become the world's largest cannabis market, it's only a matter of time. The 6th edition of the European Cannabis Report does a fantastic job of informing readers about the state of the industry in Europe, providing the context for growth and setting the roadmap for all stakeholders.»

The report can be obtained here.