Five cannabis markets set to boom by 2022

We often hear about Canada and the United States, and the consolidation of the North American legal cannabis market, but the potential of the European and international markets might surprise many. Market projections from think tanks Arcview Market Research and BDS Analytics for 2022 show just how promising the business is. Some people are well aware of this, and are already investing in Europe.

1. Germany

Germany legalized medical cannabis on January 19. Today, the market is worth only 225 million euros. Its growth is hampered in particular by supply and production issues. Germany has, in fact, put the production licensing process on hold. Among the applicants were already major Canadian companies such as Canopy Growth and Aurora. The licensed companies were tasked with producing 6,600 kilograms of cannabis for the Federal Institute for Drugs and Medical Devices from 2019 to 2022. For now, it is forced to import the product to meet a growing demand which it is unable to meet locally. The market is estimated at 1.4 billion euros for 2022.

2. United Kingdom

The United Kingdom has just legalized medical cannabis, It will be integrated into the social healthcare system, which will help drive an increase in demand. The market is still in its infancy, yet its value for 2018 is estimated to reach 6 million euros. In 2018, Arcview and BDS Analytics expect sales to rise to 246 million euros.

3. Switzerland

The Swiss market is estimated at 111 million euros in 2018 and 139 in 2022. It is a market that is growing slowly but is already significant. If the government implements pilot projects on legalization The recreational market could see a significant increase. For now, this market is limited to cannabis with a low THC content (1%), which is intended primarily for the CBD market.

4. Italy

Italy legalized medical cannabis in 2017, but for now, production is being handled by exclusively by the military. However, The Minister of Health has recently announced plans to open the market to private companies. This year, sales plateaued at 6 million euros, but think tanks estimate that they will reach 133 million in 2022.

5. Mexico

Mexico will undoubtedly be one of the most interesting emerging markets in the coming years, given the political and social implications that the development of a cannabis industry has for the country. For now, only medical cannabis is permitted, and sales total 12 million euros—a relatively small amount given the country’s size and population. Nevertheless, sales are projected to reach 84.5 million euros by 2022. On the other hand, if recreational cannabis is legalized, and Some members of the government are in favor of, the market could explode. Cannabis cultivation is deeply ingrained in Mexican culture, and production is well established, even though it is illegal.