EU MARKETS AT A GLANCE: KEY TAKEAWAYS
IN 2019, THE EUROPEAN CANNABIS MARKET WAS VALUED AT 230 MILLION-250 MILLION-EUROS WITH GERMANY “UNCHALLENGED”
Germany continues to be the largest European medical cannabis market, with Marijuana Business Daily estimating annual sales in 2019 of at least 170 million euros ($185.4 million).
Italy was a distant second with an estimated retail value of 20 million euros.
Several other markets also reported medical cannabis sales.
Austria, the Netherlands and Switzerland had sales of just above 10 million euros apiece. In the cases of Austria and Switzerland, most of that was attributable to dronabinol.
Germany not only remains the largest market, but it’s also growing faster than the other major European markets.
Sales of insurance-covered cannabis in Germany grew 67% in 2019 over 2018, with the growth of the total market even larger when considering private prescriptions.
Over the same period, total sales in Italy grew 49%. In the Netherlands, kilograms sold grew just 5%, and in Switzerland the patient count actually decreased 1%.
The only other European country where we could find sales of several million euros in 2019 was Denmark, with total sales of 7 million euros.
MJBizDaily estimates that the total retail value of the European markets in 2019 was 230 million-250 million euros. That figure includes sales of isolated cannabinoids and finished pharmaceutical products in addition to flower and full-spectrum products.
Roughly half that value was represented by markups at mom-and-pop pharmacies.
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