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The Global Cannabis Report: 5th Edition

The worldwide view: regional sizing, regulation and where growth is heading.

  • 40 markets — sizing, forecasts and regulatory outlook
  • Analyst-written market analysis
  • 160+ pages · PDF + data
  • Published 2024

Cited in boardrooms, legal proceedings & government briefings since 2017. Our figures are built to be defended — sourced, modelled and signed off by PP’s analysts.

Trusted by teams at

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About this edition

The worldwide view: regional sizing, regulation and where growth is heading. It combines PP’s proprietary market sizing with regulatory analysis, giving investors and corporates a single, citable reference — delivered digitally, licensed for internal use, and backed by the analysts who built the numbers.

40

markets covered

160+

pages of analysis

2024

published

Inside this edition

Contents74
  • Foreword from our Sponsor
  • Executive Summary
  • Introduction
  • Global Trends
  • North America
  • Legal Status Map
  • Year in review
  • USA
  • Canada
  • Europe Medical
  • Legal Status Map
  • Year in Review (All Markets)
  • Germany
  • UK
  • Poland
  • Netherlands
  • Europe Adult-use
  • Legal Status Map
  • Year in Review (All markets)
  • Germany
  • Netherlands
  • Czech Republic
  • LATAM
  • Year in review (All markets)
  • Brazil
  • Colombia
  • Oceania
  • Year in review (All markets)
  • Australia
  • New Zealand
  • Asia
  • Year in review (All markets)
  • Thailand
  • Japan
  • Africa
  • Year in review (All markets)
  • South Africa
  • Morocco
  • Market Sizing
  • Medical
  • Adult-use
  • CBD
  • Regulatory Milestones
  • In 2023, significant steps towards cannabis legalisation occurred in Germany, Brazil, and South Africa, where adult-use cannabis was legalised for personal possession and consumption. These changes mark a shift in global attitudes towards cannabis and pave the way for other countries to reconsider existing policies.
  • Access through medical channels has also increased in these regions, indicating a parallel expansion in medical cannabis availability, which contributes to overall market growth.
  • Market Competition and Growth
  • North America: The North American market remains one of the most competitive globally:
  • In Canada, intense domestic competition has led to price compression, reduced profit margins, and fluctuating sales, pushing many Canadian operators to seek opportunities in international markets.
  • In the United States, the cannabis market faces challenges from high capital costs and taxation, making it difficult for multi-state operators (MSOs) to remain profitable in some regulated states.
  • On the federal level, efforts are underway to reschedule cannabis from a Schedule I to a Schedule III drug. Additionally, four U.S. states will vote on cannabis legalisation (medical or recreational) in the 2024 election, which could further expand access.
  • Europe
  • Germany: A major player in the European cannabis market, Germany is advancing controlled adult-use legalisation and has removed cannabis from its list of narcotics, opening the door for greater regulation and market growth.
  • The Netherlands and Switzerland are also exploring cannabis reform, conducting adult-use trials and experimental programmes, though these are still in early stages.
  • Medical Market Expansion: The UK, Germany, and Poland are seeing strong growth in medical cannabis usage, often facilitated by telemedicine services that increase accessibility. Conversely, some markets like Denmark, Italy, and the Netherlands have seen little change in their medical cannabis policies.
  • Greece recently launched a medical cannabis programme, allowing patients to access treatment for the first time.
  • Spain and France show high market potential but are held back by regulatory stagnation, delaying growth in what could become significant future markets.
  • Latin America (LATAM)
  • Export Growth: LATAM producers are increasingly exporting medical cannabis to countries like Australia and Europe.
  • Colombia has positioned itself as a key supplier of cannabis genetics and has steadily grown its export volumes, making it a notable player in the international market.
  • Brazil has expanded its medical cannabis programme with a focus on CBD-based medicines, and this year, personal possession and consumption were liberalised as well.
  • Intra-regional Trade: The region is seeing initial steps in intra-regional trade for medical cannabis, supported by patient associations that advocate for patient access.
  • Mexico: Despite potential, unclear regulations continue to challenge industry growth, leaving businesses uncertain about the legalities surrounding cannabis-related activities.
  • Oceania
  • Market Growth: In Australia and New Zealand, the medical cannabis market is growing quickly, with increases in the number of prescribers, patients, and prescriptions driving up domestic sales.
  • Regulatory Scrutiny: Concerns about potential malpractice (such as over-prescription) have led health authorities in both countries to call for tighter regulation and conduct investigations, which could impact the market.
  • Production and Export: Domestic cannabis production has increased, with both countries targeting international markets. New Zealand has introduced regulatory improvements to ease bottlenecks in quality standards for medical cannabis exports, enhancing its competitiveness globally.
  • Adult-Use Legalisation in Australia: A federal adult-use bill presented by the Green Party was not supported by the Senate Legal and Constitutional Affairs Committee, though certain state-level authorities have shown interest in studying the socio-economic impact of cannabis legalisation.
  • Africa
  • South Africa: The cannabis market witnessed a milestone with the legalisation of personal-use cannabis, including home cultivation. South Africa is also seeing an uptick in commercial medical cannabis exports to Europe, strengthening its position in the international market.
  • Lesotho and Rwanda are expanding their medical cannabis production, with Lesotho continuing to supply European markets and Rwanda preparing its first producer to enter the market.
  • Morocco: Significant progress was made in Morocco’s medical cannabis industry, with the National Agency for the Regulation of Cannabis-Related Activities (ANRAC) issuing over 3,000 licences for cultivation and production. Despite high production volumes, export volumes remain limited, with only small quantities exported under licence. Morocco aims to use its expertise from the black market, historically a key source of high-quality hash for Europe, to position itself as a legal, high-quality cannabis supplier for the European market.
  • Asia
  • Thailand: Following the 2022 cannabis legalisation, Thailand’s cannabis industry faced regulatory uncertainty. The newly elected coalition government aims to introduce a structured framework for licensing and regulating the cannabis supply chain, addressing previous regulatory gaps.
  • Japan: Japan’s CBD market is expanding, and government revisions to cannabis-related laws will legalise medical cannabis products while further criminalising recreational use. These changes will take effect on 12 December 2024, signalling a cautious approach towards cannabis reform focused on medical use.

Who it’s for

Investors & analysts

Defensible sizing and forecasts to underwrite the thesis.

Corporate strategy & FMCG

Opportunity sizing and entry routes across key markets.

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