Germany’s flourishing medical cannabis market is now forecast to top €420m this year, according to Prohibition Partners’ upcoming German Cannabis Report.
With the passage of CanG, streamlined regulations, more accessible prescriptions and a flood of new companies and funding entering the market, its authors believe the ‘second wave of German cannabis’ is now well underway.
Ahead of its release later this month, Business of Cannabis sat down with Prohibition Partners lead analysts Lawrence Purkiss and Alex Khourdaji to discuss the unexpected path Germany’s cannabis industry has followed and what hurdles remain for businesses hoping to establish a foothold in Europe’s most exciting cannabis market.
The German Cannabis Report will be published later this month, and is available for pre-order now here.
BofC: The report notes that in 2017, there was a forecast of 800,000 cannabis patients in Germany, but the actual market has evolved quite differently. How is the ‘second wave of German cannabis’ developing differently from these initial projections?
PP: In 2017 it was assumed that the rapid pace of regulatory progress which was apparent in North America and Europe would continue, and that Germany was opening up to cannabis in the same way that Canada and US states like California or Colorado had in the recent past – i.e. large-scale medical cannabis treatment and widespread acceptance, leading to the eventual opening of an adult-use market.
