The legal German cannabis market is projected to reach an estimated $4.6 billion in value by 2034 according to a new market analysis by researchers at The Niche Research. The market analysis predicts that Germany’s legal cannabis market will experience a compound annual growth rate (CAGR) of 17.2% between 2024 and 2034.
Germany implemented the first provisions of its national adult-use cannabis legalization law on April 1st, and the home cultivation sector is already increasing in size at an exponential rate. According to a recent survey by Pronova BKK, 51% selected “Yes, I can imagine having my own cannabis to grow at home” when asked about home cultivation. Another 40% of ‘occasional’ cannabis consumers also selected that option in the survey.
A separate survey by YouGov found that 7% of surveyed German adults have already purchased cannabis seeds or clones, and another 11% reported that they will in the future. Cannabis seed banks across Europe have reported a significant sales spike due to German home cultivation legalization.
Medical cannabis was already a huge industry in Germany prior to adult-use legalization, with the country being home to Europe’s largest medical cannabis market. However, part of the CanG law involved the removal of cannabis from Germany’s Narcotics List, and with it, caps on domestic medical cannabis production. Germany imported a record 32,398kg of medical cannabis products in 2023, up 26.6% from 2022.
