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1. Introduction
• Home to more than 740 million people, a population more than double that of the US and
Canada combined, Europe is set to become the world’s largest legal cannabis market over the
next five years.1
• Over the last twelve months, the European cannabis industry has grown more than it has in
the last six years. Six countries have announced new legislation and over €500m has been
invested in European cannabis businesses.2
• According to Prohibition Partners’ findings, Europe’s cannabis market is estimated to be
worth up to €123b by 2028 and will likely become the world’s largest legal market over 3
the next five years. 4
• European policymakers and economists may look to North America, Canada and Australia for
replicable impacts within these economies. The US cannabis industry is expected to outpace
manufacturing job creation by 2020, and cannabis sales are set to exceed both liquor and
wine markets in Canada in 2019. 5
• CBD has a special role in Prohibition Partners’ report: Whilst there is an emergent market
for CBD-infused consumer goods, capsules and oils, these have been excluded from the
market size calculations due to a lack of sales data. Although these products may be used
for wellness purposes such as to aid sleep, or for pain or anxiety management, they do not
require a prescription and have therefore been excluded from the medical market sizing.
• The concrete trigger of the interest around CBD products was a CNN documentation around
the girl Charlott Figi from Colorado who suffers from the Darvet syndrome (severe early
childhood myoclonic epilepsy) and received clear relief of her symptoms by CBD.6
• Cannabis & CBD: Due to the increasing legalization of cannabis and CBD products, hemp
products are moving into the legal mainstream. Largely positive press reviews, hemp trade
fairs and conferences, TV series about cannabis contribute to the fact that cannabis and
products from the cannabis periphery lose their infamous image and are seen as lifestyle
products. New CBD shops are also moving away from the “weed image” and positioning
themselves towards premium and wellness.

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