The Germany legal cannabis market size is expected to
reach USD 85.6 million by 2030, growing a CAGR of 14.9% over the forecast
period, according to a new report by Grand View Research, Inc. Factors such as
rising social acceptance of cannabis, growing medical applications of cannabis,
increasing R&D & technological innovation, and the introduction of new
cultivation technologies are expected to drive the cannabis industry in the
country. For instance, in February 2024, according to data published in
Reuters, 4.5 million individuals are estimated to use cannabis in Germany.
Furthermore,
favorable government initiatives and reimbursement policies fuel the market
growth. For instance, according to data published by the Federal Union of
German Associations of Pharmacists (ABDA), the number of prescriptions for
medical cannabis for Statutory Health Insurance (SHI)-insured patients in
Germany was 338,500 in 2022. Furthermore, according to the same source, 14,840
Kg of cannabis was delivered to pharmacies for medicinal purposes in 2022.
Moreover,
growing awareness among people regarding the therapeutic applications of
cannabis and the launch of online cannabis prescription platforms drive market
growth. For instance, in September 2023, Cantourage Group SE, a Berlin-based
company, introduced Telecan, a telemedicine platform for medical cannabis,
under the guidance of Florian Wesemann, a medical doctor. The platform offers a
simple and convenient way for potential patients to access cannabis therapy.
In
recent years, there has been a significant rise in the usage of cannabis and
its derivatives in Germany. The medical application of CBD has gained immense
popularity, leading to the development of policies for its distribution and use
by the government. Moreover, conferences and various events being organized for
cannabis industry leaders drive market growth. For instance, the International
Cannabis Business Conference was to be held in Berlin in April 2024, Germany’s
biggest annual gathering of influential political and cannabis business
leaders.
The
cannabis industry has witnessed the development of new techniques and
technologies that aid in its cultivation, and these advancements are expected
to boost market growth. The demand for technologically advanced cannabis
production has led to the optimization of resources by cultivators. This,
coupled with the increased utilization of hemp and marijuana in various sectors,
such as personal care & cosmetics, pharmaceuticals, nutraceuticals, and
food, & beverages, has impelled market growth. In addition, the use of
cannabis and its derivatives by various businesses as a raw material for
manufacturing products is projected to drive market growth over the forecast
period.
List of Key Players in the Germany Legal Cannabis Market
- The Cronos
Group
- Organigram
Holding, Inc
- Tilray
Brands, Inc
- Canopy
Growth Corporation
- Aurora
Cannabis
- SynBiotic
- Cansativa
GmbH
- DEMECAN
- Four 20
Pharma
- Avextra
Pharma GmbH
Related Press
Release@ Germany Legal Cannabis Market Report
Germany Legal Cannabis Market Report Highlights
- By source,
the hemp segment accounted for the largest revenue share in 2023 due to
rising demand for hemp-derived CBD oil and its health benefits.
Furthermore, food manufacturing processes use hemp seeds and oil, which
propels market growth.
- By
derivatives,the CBD segment dominated the market with the largest revenue
share in 2023, owing to the growing acceptance of CBD and its use in
treating various chronic conditions.
- By end-use,
the industrial-use segment held the largest market share in 2023 owing to
the growing demand for hemp products, including fiber, seed, stalks,
hurds, and oils for various industries, such as food & beverage,
personal care, and animal care.
Germany Legal Cannabis Market
Report Scope
|
Report Attribute |
Details |
|
Market size value in 2024 |
USD 37.2 Million |
|
Revenue forecast in 2030 |
USD 85.6 Million |
|
Growth rate |
CAGR of 14.9% from 2024 to 2030 |
|
Base year for estimation |
2023 |
|
Actual data |
2018 - 2023 |
|
Forecast data |
2024 - 2030 |
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Germany Legal Cannabis Market Segmentation
Grand
View Research has segmented the Germany legal cannabis market based on source,
derivatives, and end-use:
Germany Legal Cannabis Source Outlook (Revenue, USD
Million, 2018 - 2030)
- Hemp
- Hemp oil
- Industrial
Hemp
- Marijuana
- Flower
- Oil and
Tinctures
Germany Legal Cannabis Derivatives Outlook (Revenue, USD
Million, 2018 - 2030)
- CBD
- THC
- Others
Germany Legal Cannabis End-use Outlook (Revenue, USD
Million, 2018 - 2030)
- Industrial
Use
- Medical Use
- Chronic
Pain
- Depression
and Anxiety
- Arthritis
- Post-traumatic
Stress Disorder (PTSD)
- Cancer
- Migraines
- Epilepsy
- Alzheimer’s
- Multiple
Sclerosis
- AIDS
- Amyotrophic
Lateral Sclerosis
- Tourette’s
- Diabetes
- Parkinson's
- Glaucoma
- Others
- Recreational
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About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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