Europe needs to learn from Germany’s approach to cannabis

In this article, published in Cannabis Wealth on 5th January 2022, Adrian Clarke, chief commercial officer and co-founder of Tenacious Labs, discusses the need for Europe to develop an aligned cannabis industry.

Germany’s new coalition government has announced its intentions to legalise the sale of cannabis nationally

If the legalisation becomes law, it will have massive implications, not only because Germany would become the first major EU country to legalise cannabis, but also it would open up a market twice the size of Canada which is already worth $3.25bn The fledging cannabis market is gaining traction, particularly in Europe where it is expected to be worth as much as €32bn by 2027. As one of the more dominant markets in Europe, Germany alone could expect to generate as much as €16bn by the same year.

Though there have been promising developments across Europe and the rest of the world regarding cannabis regulation, the UK and the rest of Europe still lag behind Germany’s liberal ambitions. National governments the world over would benefit from following in Germany’s ambitions footsteps and consider legalisation within their own jurisdictions, ensuring a regulated market that allows for the lucrative cannabis industry to invest in and grow from, inviting a wider number of jobs and economic development.