The world is a big place, and the global cannabis map is expanding fast. Forgive us if we did not include you, but for the first MVP, these islands, countries and regions were our first focus. That said, if you are in a region we are not looking at yet, and join the Beta, we will of course expand to include you.
Australia. The country’s domestic medical market is picking up speed, and Australian export news is showing up in Germany. A comer with the right to import into Germany and Europe under existing international drug and harmonization laws.
Austria. The country has helped define the most conservative cannabis laws in Europe including subsequently in Germany – including on CBD and for cosmetics, but the country’s seed banks attract those looking to bypass the Dutch system as there are no stabilization tests required in the Dutch market.
Canada. Home of the largest recreational market in the world, and most of the biggest names in the international cannabis industry. The country however is struggling with regulatory issues as it enters its second year of recreational reform and many supply chain problems exist for both the medical and domestic industry. The total worth of the domestic industry has been estimated to be worth CA$3.16 Billion in revenue in 2020. And that is before the exports and foreign production subsidiaries, including scattered throughout Europe, South Africa and Australia.
Denmark. The country has entered both a medical trial at home (with about 4,000 patients) and is on the cusp of a recreational trial. Danish producers are also starting to source sales into Germany with many more producers about to come online with their first crops.
France. The country is about to embark on a national medical cannabis trial. Numbers right now are unknown, but it is also highly likely that the French will import cannabis from Portugal, Spain, Greece, Australia or South Africa to get going, much like other countries.
Germany. With a patient population some estimate as 40,000 and about 92,000 prescriptions written in 2019, this is the biggest cannabis market in Europe. There are currently just over 20 specialty distributors, a new alliance of specialty pharmacies, and companies from all over the world trying to enter the German market. Market size is an estimated €1.5 million a month in 2019 from point of sale at pharmacies. Extrapolating this market, this means that the total retail medical market in Germany is about €18 million a year. Of that, only one domestic producer is now operating (the Wayland plant in Eastern Germany), so most of this, plus any increases, must be imported.
Greece. Greek production has been underway for about a year now, and the country’s attitude to the cannabis industry (welcoming as one of business development) as well as exports puts this little country on the cannabis map in Europe. There are 26 new licencees here as of August 2019.
Guernsey. The British island between the mainland of the UK and Spain is going to be a place to watch. As a developing “free port” this island is going to be a hotbed of cannabis reform and lab for regulatory muster.
Italy. The country has just started domestic cultivation with Aurora (one of the largest Canadian companies in the business) after cancelling the third cultivation license it awarded them this month citing GMP compliance issues and “no need” for a medical CBD production facility owned by the government. The country is also setting tough laws on medical CBD and Novel food production. And while local production has been seeded, there is still a large import market and a potential cosmetic and food based market waiting to take off. Not to mention unregulated CBD cosmetic and food products are a special target right now for prosecution and the authorities.
Jamaica. The country is establishing itself as a medical powerhouse in the Carribean and is already lining up exports to Canada and Europe.
Luxembourg. The country’s government has pledged to make recreational cannabis legal within four years and has increased the size of its medical cannabis training budget for doctors dramatically for next year. So far all of this product will be imported (and probably from European countries like Spain and Portugal).
Malta. The island of Malta is competing for not only a domestic medical cannabis business but also to export to countries across Europe. 20 medical cannabis project licenses have already been approved as of this year.
Netherlands. Holland is currently the largest exporter of medical cannabis to Germany. They via the Dutch Cannabis Agency, currently distribute 10 kgs of flower to each of the 21 specialty cannabis distributors now licensed in Germany. There are also plans afoot to increase production here as the German government has increased its medical purchases of flower from the country twice in the last year. The domestic government is also beginning a recreational trial to better regulate the coffee shop industry.
North Macedonia. An odd comer, and a market with many challenges, including a delay to flower export, but coming nonethless, with highly certified product and low prices on both oil and flower.
Poland. It is still a nascent cannabis market, but the industry is starting to get organized, there is a rumoured bid, and product registrations of imports (including from Holland and Europe or Canada) have already begun.
Portugal. Canadian producer Tilray began first cultivation in the country in 2017. These days, there are growing numbers of producers (nobody is sure) looking to obtain cultivation, packaging and processing certification for access to the German market.
Spain. There are an estimated 200,000 Spanish patients, 14 firms who have GMP licenses in the cannabis space, and a huge grey market in the clubs in Barcelona. Alcaliber, also known as Linneo Health is one of those licensees with clients throughout Europe and the world.
Switzerland. The country was the first to pioneer a recreational CBD market, and since then has evolved into a country where medical prescriptions are on the rise, as are CBD sales, and both medical and recreational trials are afoot across the country. The import and export issues faced by producers both into and out of the country are huge, however. For this reason, along with the rise of product packaging companies here with global supply chains, we expect this to be a valuable market for us.
South Africa. The country is in the process of legalizing an already existant industry not only domestically but regionally. A recent cannabis expo in Pretoria attracted 200 exhibitors from all over the world. The market here is expected to be large not only in terms of domestically, but in terms of exports to the EU and throughout the African continent. Lesotho medical producers must also register their product in this market place to be able to export to Europe.
United Kingdom. While British patients are mostly still out in the cold, the market here is changing and more and more imports are entering the country as commercial production slowly begins to ramp up. That said, the CBD market here has gone into the stratosphere – along with a host of labeling and certification issues – no matter the FSA’s recent ruling on Novel Food. And then of course, there is Brexit.
United States. While the U.S. is still not federally legal, state databases do exist in all states where the drug is becoming legal. Furthermore thanks to new treaties, US firms can now export GMP medical grade hemp products to the EU – a market which is going to boom just in terms of variety. This is the largest cannabis market in the world, currently valued at about US $13 billion as of this year. And then of course there is the USDA Integrity program.
Uruguay. The country is a comer on several fronts. Not only does it have the oldest recreational market in the world outside of Holland but is now on both ends of an export market developing throughout Latin America.
There are other countries we will also target and include in outreach particularly as they are trying to enter the European market as we continue to expand the platform.