Portuguese Cannabis Market estimated 500 Million euro for 2023

New data from INFARMED about 2022 Portuguese Cannabis export, show that it was exported 20 830 Kg of dry flower.

As MANOXBLOG presented at October 2022:

See https://manoxblog.com/2022/10/07/portugal-pharmaceutical-cannabis-products-exports-are-estimated-near-80-million-euros/

The export of Cannabis flower had an  increase from 2020 to 2021  of 17%.

With this new data, the increase from 2021 to 2022 is 267%.

Based on the recent information gathered  from Cannabis Companies and Cannabis world  market development, UK market , Germany, Poland , Italy , Spain, France and others outside European Union, it’s expected that the total export will be around 80 ton.

The use of Cannabis flowers for extraction already started in Portugal.

There are already 4 Companies approved for Cannabis extraction and formulation:

See:  https://manoxblog.com/2023/01/28/portugal-only-4-companies-licensed-with-gmp-for-extraction-and-formulation/

Based values collected from Companies , we built the following graph:

There are more Pharmaceutical Cannabis Extraction Companies to get approval in next months.

So our estimate is that in 2023, it will be consumed 12 ton of dry flowers in Extraction process.

Adding all these quantities and considering an average sales price of 5 € per g, we estimated the total market:

Which means around 500 Million euro Portuguese Cannabis market in 2023.


Data source: INFARMED


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