Europe Legal Cannabis Market Size & Outlook, 2023-2030
Europe legal cannabis market, 2018-2030 (US$M)
Related Markets
Europe legal cannabis market highlights
- The Europe legal cannabis market generated a revenue of USD 1,317.5 million in 2023.
- The market is expected to grow at a CAGR of 19.7% from 2024 to 2030.
- In terms of segment, hemp was the largest revenue generating source in 2023.
- Marijuana is the most lucrative source segment registering the fastest growth during the forecast period.
- Country-wise, Switzerland is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 1,317.5 million |
| Market revenue in 2030 | USD 4,650.9 million |
| Growth rate | 19.7% (CAGR from 2023 to 2030) |
| Largest segment | Hemp |
| Fastest growing segment | Marijuana |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Marijuana, Hemp |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Aphria Inc, The Cronos Group, Tilray Brands Inc, Sundial Growers, Insys Therapeutics, The Scotts Miracle Gro Co Class A, MediPharm Labs Corp, Cara Therapeutics Inc, GW Pharmaceuticals |
Other key industry trends
- In terms of revenue, Europe region accounted for 4.8% of the global legal cannabis market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 37,735.3 million by 2030.
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Legal Cannabis Market Scope
Legal Cannabis Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe legal cannabis market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to legal cannabis market will help companies and investors design strategic landscapes.
Hemp was the largest segment with a revenue share of 78.88% in 2023. Horizon Databook has segmented the Europe legal cannabis market based on marijuana, hemp covering the revenue growth of each sub-segment from 2018 to 2030.
The Europe legal cannabis market is exhibiting lucrative growth owing to increasing demand and availability of a greater variety of cannabis products. Many companies are seeking to enter into the growing cannabis market in Europe region.
For instance, in 2019, Canopy Growth, a Canada-based cannabis company, acquired Cafina, a producer, distributor, & exporter of cannabis in Spain. It is one of the three companies authorized for cannabis operations in Spain.
This acquisition would help Canopy Growth create a strong foothold in the cannabis market in Spain. Furthermore, in 2019, Flowr Group, a Canadian company, acquired Portugal’s cannabis cultivator, Holigen. This acquisition made Flowr Group one of the top cultivators in Europe.
Reasons to subscribe to Europe legal cannabis market databook:
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Target buyers of Europe legal cannabis market databook
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Our clientele includes a mix of legal cannabis market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe legal cannabis market , including forecasts for subscribers. This continent databook contains high-level insights into Europe legal cannabis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe legal cannabis market size, by country, 2018-2030 (US$M)
Europe Legal Cannabis Market Outlook Share, 2023 & 2030 (US$M)
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