Europe set for new highs as world’s largest weed market

By Zoe Gross. Published at Jan 25, 2019, in The 420 Report

Home to more than 740 million people — a population more than double that of the US and Canada combined — Europe is set to become the world’s largest legal weed market over the next five years.

A new report launched at Davos by legal cannabis expert, Prohibition Partners, maintains that steeply rising patient numbers and legislative progress have created a "transformative" backdrop for medicinal cannabis use in Europe.

The European Cannabis Report 4th Edition reveals that the region is poised for record-smashing growth over the coming years.

According to its findings, Europe’s cannabis market is estimated to be worth up to €123 billion by 2028.

Of that total market, the market for medicinal marijuana specifically could reach €58 billion during that time.

The report also identifies sweeping legislative change and increasing awareness of the potential health benefits elicited by cannabis-related products as key growth drivers.

Over the last 12 months, the European pot industry has grown more than it has in the last six years. Six countries have announced new, positive legislation, and over €500 million has been invested in European cannabis businesses.

Throughout 2018, a crop of European countries introduced, reviewed or announced future legislation to advance the legal weed movement, and there are now 14 European countries where prescription pot is legal. The UK, Portugal and Malta have legalised medical cannabis products, and the Netherlands, Denmark and Germany have either issued cultivation licences or plan to introduce a tender for global cannabis producers. Even conservative governments in France and Ireland have proposed new cannabis bills or committees to review the legal status of medical marijuana.

The versatility of the plant could also have significant implications across multiple sectors, including textiles, beauty and wellbeing, leisure, manufacturing, and food and beverage.

The report forecasts patient numbers will grow from 130,000 in the region’s three largest markets — Italy, the Netherlands and Germany — to 225,000 in 2019.

The lion’s share of growth will come from the German and Italian markets. The German market is currently worth an estimated €133 million and is set to be worth more than €1 billion by 2020.

Germany legalised medicinal cannabis in 2017. One of the most progressive bills, the list of eligible conditions is quite broad, and this led to an immediate jump in the number of registered patients from 1,000 to over 40,000. Germany is also the first country in the world to cover the cost of medical cannabis (for any therapeutic application approved by a physician) through its national health insurance system.

Stephen Murphy, Prohibition Partners co-founder, explains: “The European cannabis market is undergoing a transformative moment, driven by skyrocketing demand. This has pushed national governments across the continent into action and Europe is poised to become a hotbed for medicinal development.”

Murphy also believes that political event-driven change can act as a catalyst for further growth.

“Most countries base their legal status on WHO/UN Drug Conventions. WHO is now reassessing the legal status of cannabis, and EU Committees are looking at how to regulate cannabis usage internationally. This will fuel rapid growth in the coming years.”

While the report maintains that patient demand is high, it notes that access is still restricted in many countries.

Murphy says: “While medicinal cannabis has been legal in several European countries for a number of years, the report shows very few countries have the infrastructure or proper legislation in place to supply patients. Except for the Netherlands and Israel, they rely on cannabis imports to deal with patient demand.

“While we understand cannabis can treat over 60 conditions, we lack the clinical data that is key to unlocking full market potential. Reliable, replicable research will be vital to persuading conservative governments to enact reform; shrinking the gap between political legislation and healthcare regimes and leading to eventual mainstream adoption.”

Key statistics for the European medical cannabis industry

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!