Europe Cannabis Market Size, Industry Trends 2027
The Europe cannabis market is expected to reach US$ 36,997.1 million by 2027 from US$ 3,498.1 million in 2019. The market is estimated to grow with a CAGR of 29.6% from 2020 to 2027.
The growth of the market in the region is driven by the factors, such as up-gradation of regulations for medical cannabis, and growing cannabis industry. Similarly, the on-going COVID-19 pandemic is likely to drive the demand for medical cannabis products, which is expected to serve wider growth opportunities for market growth. Whereas, the challenges related to cannabis are likely to restraint the Europe Cannabis Market growth during the forecast period.Earlier, the European Union (EU) has restricted the use of cannabis for medical applications. However, the evidence of promising good results to treat various medical conditions have allowed the EU to market cannabis products. In the European region, there was a tremendous rise in the cannabis industry and is expected to grow at a faster pace. In December 2019, the European Medicines Agency (EMA) had granted marketing authorization for cannabis-derived medicinal products across the EU. For instance, in September 2019, EMA has granted the use of Epidyolex conjunction with Clobazam, for patients of two years of age and older. It is used as a therapy for seizures associated with LennoxGastaut syndrome (LGS) or Dravet syndrome (DS). Similarly, in November 2019, the European Food Safety Authority (EFSA) has applied to synthesize transcannabidiol as a novel food. It was filed after the EU did the validation.
In addition, countries such as France and the UK have geared up the implementation of cannabis medical products. Various other countries in Europe have started providing reimbursement to patients for cannabis-derived medicinal products. Moreover, in the UK, the government has been lenient for growing cannabis at home for medical purposes. Likewise, in October 2019, the French National Assembly has adopted an amendment to the 2020 Social Security Financing Bill to provide a clear legal basis for the medical cannabis pilot program. In January 2020, the French National Agency for Medical and Health Products published Q&A on medical cannabis and the pilot program. Furthermore, in August 2019, in Germany, new Law for More Safety in the Supply of Pharmaceuticals were imposed for patients to provide better access to medical cannabis. Thus, owing to the up-gradation of regulation for medical cannabis across the European region is estimated to drive significant market growth during the forecast period.
Europe Cannabis Market Revenue and Forecast to 2027 (US$ Mn)
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Europe Cannabis – Market Segmentation
Europe Cannabis Market– By Product Type
- Flowers
- Concentrates
- Others
Europe Cannabis Market– By Application
- Medical
- Pain Management
- Neurological Health Management
- Mental Health Management
- Others
- Recreational
Europe Cannabis Market– By Compound
- Tetrahydrocannabinol (THC)-Dominant
- Cannabidiol (CBD)-Dominant
- Balanced THC and CBD
Company Profiles
- Aphria, Inc.
- Aurora Cannabis
- Cannabis Science, Inc.
- Canopy Growth Corporation
- Medical Marijuana, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Application, Compound -Dominant, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Cannabis Market– By Product Type
1.3.2 Europe Cannabis Market– By Application
1.3.3 Europe Cannabis Market – By Compound
1.3.4 Europe Cannabis Market– By Region
2. Cannabis Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Cannabis – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Expert Opinion
5. Europe Cannabis Market – Industry Dynamics
5.1 Key Drivers
5.1.1 Up-gradation of Regulations for Medical Cannabis
5.1.2 Growing Cannabis Industry
5.2 Key Market Restraints
5.2.1 Challenges Related to Cannabis
5.3 Key Market Opportunities
5.3.1 Rising Market Consolidations
5.4 Future Trends
5.4.1 Growing Acceptance of Cannabis Products
5.5 Impact Analysis
6. Cannabis Market – Regional Analysis
6.1 Europe Cannabis Market Revenue Forecast And Analysis
6.2 Market Positioning of Key Players
7. Cannabis Market Analysis – By Product Type
7.1 Overview
7.2 Cannabis Market Revenue Share, by Product Type, 2019 and 2027 (%)
7.2.1 Europe Cannabis Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
7.3 Flowers Market
7.3.1 Overview
7.3.2 Flowers Market Revenue and Forecast to 2027 (US$ Mn)
7.4 Concentrates Market
7.4.1 Overview
7.4.2 Concentrates Market Revenue and Forecast to 2027 (US$ Mn)
7.5 Others Market
7.5.1 Overview
7.5.2 Others Market Revenue and Forecast to 2027 (US$ Mn)
8. Cannabis Market – By Application
8.1 Overview
8.2 Cannabis Market, by Application, 2019 and 2027 (%)
8.2.1 Europe Cannabis Market, by Application – Revenue and Forecast to 2027 (USD Million)
8.3 Medical Market
8.3.1 Overview
8.3.2 Medical Market Revenue and Forecast to 2027 (US$ Mn)
8.3.3 Pain Management
8.3.3.1 Overview
8.3.3.2 Pain Management Market Revenue and Forecast to 2027 (US$ Mn)
8.3.4 Neurological Health Management
8.3.4.1 Overview
8.3.4.2 Neurological Health Management Market Revenue and Forecast to 2027 (US$ Mn)
8.3.5 Mental Health Management
8.3.5.1 Overview
8.3.5.2 Mental Health Management Market Revenue and Forecast to 2027 (US$ Mn)
8.3.6 Others
8.3.6.1 Overview
8.3.6.2 Others Market Revenue and Forecast to 2027 (US$ Mn)
8.4 Recreational Market
8.4.1 Overview
8.4.2 Recreational Market Revenue and Forecast to 2027 (US$ Mn)
9. Cannabis Market – By Compound
9.1 Overview
9.2 Cannabis Market, by Compound, 2019 and 2027 (%)
9.2.1 Europe Cannabis Market, by Compound – Revenue and Forecast to 2027 (USD Million)
9.3 Tetrahydrocannabinol (THC)-Dominant Market
9.3.1 Overview
9.3.2 Tetrahydrocannabinol (THC)-Dominant Market Revenue and Forecast to 2027 (US$ Mn)
9.4 Cannabidiol (CBD)-Dominant Market
9.4.1 Overview
9.4.2 Cannabidiol (CBD)-Dominant Market Revenue and Forecast to 2027 (US$ Mn)
9.5 Balanced THC and CBD Market
9.5.1 Overview
9.5.2 Balanced THC and CBD Market Revenue and Forecast to 2027 (US$ Mn)
10. Cannabis Market– Regional Analysis
10.1 Europe: Cannabis Market
10.1.1 Overview
10.1.2 Europe: Cannabis Market– Revenue and Forecast to 2027 (USD Million)
10.1.2.1 Europe Cannabis Market Revenue and Forecasts, by Product Type (US$ Mn)
10.1.2.2 Europe Cannabis Market Revenue and Forecasts, By Application (US$ Mn)
10.1.2.2.1 Europe Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.1.2.3 Europe Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.1.2.4 Europe Cannabis Market Revenue and Forecasts to 2027, By Country (%)
10.1.2.5 UK Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.5.1 UK Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.5.2 UK Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
10.1.2.5.3 UK Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
10.1.2.5.3.1 UK Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.1.2.5.4 UK Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.1.2.6 Germany Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.6.1 Germany Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.6.2 Germany Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
10.1.2.6.3 Germany Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
10.1.2.6.3.1 Germany Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.1.2.6.4 Germany Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.1.2.7 France Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.7.1 France Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.7.2 France Cannabis Market revenue and forecasts, by Product Type(US$ Mn)
10.1.2.7.3 France Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
10.1.2.7.3.1 France Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.1.2.7.4 France Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.1.2.8 Italy Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.8.1 Italy Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.8.2 Italy Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
10.1.2.8.3 Italy Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
10.1.2.8.3.1 Italy Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.1.2.8.4 Italy Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.1.2.9 Spain Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.9.1 Spain Cannabis Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.9.2 Spain Cannabis Market Revenue and Forecasts, by Product Type(US$ Mn)
10.1.2.9.3 Spain Cannabis Market Revenue and Forecasts, by Application (US$ Mn)
10.1.2.9.3.1 Spain Medical Market Revenue and Forecasts, By Type (US$ Mn)
10.1.2.9.4 Spain Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
11. Impact of COVID-19 Pandemic on Europe Cannabis Market
11.1 Europe: Impact Assessment of COVID-19 Pandemic
12. Cannabis Market–Key Company Profiles
12.1 Aphria, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 Product Portfolio
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Aurora Cannabis
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 Product Portfolio
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Cannabis Science, INC.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 Product Portfolio
12.3.5 Swot Analysis
12.3.6 Key Developments
12.4 Canopy Growth Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Overview
12.4.4 Product Portfolio
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Medical Marijuana, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Financial Overview
12.5.4 Product portfolio
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Europe Cannabis Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 2. Europe Cannabis Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 3. Europe Cannabis Market, by Compound – Revenue and Forecast to 2027 (USD Million)
Table 4. Europe Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 5. Europe Cannabis Market Revenue And Forecasts To 2027, By Application (US$ Mn)
Table 6. Europe Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 7. Europe Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 8. UK Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 9. UK Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 10. UK Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 11. UK Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 12. Germany Cannabis Market Revenue and Forecasts to 2027, By Product Type (US$ Mn)
Table 13. Germany Cannabis Market Revenue And Forecasts to 2027, By Application (US$ Mn)
Table 14. Germany Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 15. Germany Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 16. France Cannabis Market Revenue and Forecasts to 2027, By Product Type(US$ Mn)
Table 17. France Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 18. France medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 19. France Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 20. Italy Cannabis Market Revenue and Forecasts to 2027, By Product Type(US$ Mn)
Table 21. Italy Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 22. Italy Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 23. Italy Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 24. Spain Cannabis Market Revenue And Forecasts to 2027, By Product Type(US$ Mn)
Table 25. Spain Cannabis Market Revenue and Forecasts to 2027, By Application (US$ Mn)
Table 26. Spain Medical Market Revenue and Forecasts to 2027, By Type (US$ Mn)
Table 27. Spain Cannabis Market Revenue and Forecasts to 2027, By Compound (US$ Mn)
Table 28. Glossary of Terms, Cannabis Market
LIST OF FIGURES
Figure 1. Cannabis Market Segmentation
Figure 2. Cannabis Market Segmentation – By Region
Figure 3. Europe Cannabis Market Overview
Figure 4. Flowers Segment Held Largest Share Of Product Type Segment In The Cannabis Market
Figure 5. Italy Is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. Europe Analysis
Figure 7. Europe Cannabis Market – Revenue Forecast And Analysis – 2019- 2027
Figure 8. Market Positioning Of Key Players In Cannabis Market
Figure 9. Cannabis Market Revenue Share, by Product Type, 2019 and 2027 (%)
Figure 10. Flowers Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 11. Concentrates Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 12. Others Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 13. Cannabis Market, by Application 2019 and 2027 (%)
Figure 14. Medical Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 15. Pain Management Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 16. Neurological Health Management Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 17. Mental Health Management Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 18. Others Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 19. Recreational Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 20. Cannabis Market, by Compound, 2019 and 2027 (%)
Figure 21. Tetrahydrocannabinol (THC)-Dominant Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 22. Cannabidiol (CBD)-Dominant Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 23. Balanced THC and CBD Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 24. Europe: Cannabis Market, by Key Country – Revenue (2019) (USD Million)
Figure 25. Europe Cannabis Market Revenue and Forecast to 2027 (USD Million)
Figure 26. Europe Cannabis Market Revenue and Forecasts to 2027, By Country (%)
Figure 27. UK Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 28. Germany Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 29. France Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 30. Italy Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 31. Spain Cannabis Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 32. Impact of COVID-19 Pandemic on Cannabis Market in European Countries
- Aphria, Inc.
- Aurora Cannabis
- Cannabis Science, Inc.
- Canopy Growth Corporation
- Medical Marijuana, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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