Regulatory Changes to Legalize Adult-Use Cannabis in Germany to Boost the Country's Legal Cannabis Market; states TNR

Germany Legal Cannabis Market to Reach US$ 4.6 Bn by 2034; Anticipated to Experience CAGR of 17.2% during 2024 – 2034

WILMINGTON, DELAWARE, UNITED STATES, June 21, 2024 /EINPresswire.com/ -- Legal cannabis refers to the cultivation, distribution, possession, and consumption of cannabis products within the bounds of established laws and regulations of a specific jurisdiction. In regions where cannabis is legalized, these laws typically outline permissible uses, such as medical and/or recreational purposes, and impose regulations to ensure public safety, quality control, and taxation. The legalization of cannabis often involves governmental oversight and licensing processes for growers, processors, dispensaries, and retailers, aiming to monitor and control the supply chain from cultivation to sale. Legalization aims to address various objectives, including reducing the illicit market, generating tax revenues for public services, promoting consumer safety through product testing and labeling requirements, and providing access to cannabis for medical patients seeking alternative treatments. Each jurisdiction's legal framework for cannabis may vary widely in terms of allowed uses, possession limits, age restrictions, and other regulatory stipulations tailored to balance public health concerns with individual freedoms and economic opportunities.

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Germany Legal Cannabis Market Growth Drivers

Regulatory Framework: Germany's structured regulatory framework for medical cannabis, established in 2017, provides clarity and stability for stakeholders, including cultivators, distributors, healthcare providers, and patients. Clear guidelines from the Federal Institute for Drugs and Medical Devices (BfArM) ensure compliance and support market expansion by fostering confidence in legal operations and investments.

Increasing Patient Registrations: The rising number of patient registrations for medical cannabis reflects growing acceptance and demand for alternative therapies among individuals suffering from chronic pain, multiple sclerosis, and other qualifying conditions. This trend drives market growth as healthcare providers integrate cannabis into treatment plans, boosting prescription rates and enhancing access to legal cannabis products.

Advancements in Medical Research: Ongoing research into the therapeutic benefits of cannabis compounds, particularly THC and CBD, fuels innovation in medical cannabis formulations tailored to specific medical conditions. Scientific evidence supporting cannabis efficacy encourages wider adoption among healthcare professionals and patients, expanding the market for specialized cannabis-based medicines.

Based on Source, which Segment is Projected to Gain Highest CAGR in the Germany Legal Cannabis Market During the Forecast Period?

HEMP segment is projected as one of the fastest growing segments in the Germany Legal Cannabis market in 2023. In Germany, hemp within the context of legal cannabis serves as a multifaceted demand driver driven by several key factors. Hemp, specifically cannabis plants with low THC content (less than 0.2%), is legal for cultivation under EU regulations and is utilized for various industrial purposes such as fibre production, textiles, paper, and biofuels. The legalization of hemp cultivation has fostered a growing market for hemp-derived products, including CBD (cannabidiol) oils and extracts, renowned for their purported health benefits such as anti-inflammatory and antioxidant properties. This has led to an increasing demand among consumers seeking natural and sustainable alternatives in wellness and skincare products. Moreover, hemp's versatility extends to the food and beverage industry, where hemp seeds and oils are incorporated into dietary supplements and culinary applications due to their nutritional value rich in omega fatty acids and proteins. The expanding awareness of environmental sustainability and the growing trend towards organic products further drive the demand for hemp-derived goods in Germany's legal cannabis market.

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Based on the Derivative, which is the Fastest Growing Segment in the Germany Legal Cannabis Market During the Forecast Period?

THC segment is projected as the fastest growing segment by derivative in the Germany Legal Cannabis market during the forecasted period. In Germany, the demand for legal cannabis containing THC (tetrahydrocannabinol) as a demand driver is influenced by several critical factors. THC is the psychoactive compound in cannabis known for its therapeutic effects, including pain relief and appetite stimulation, making it sought after for medical use. The legalization of medical cannabis in 2017 has allowed patients access to THC-containing products under strict regulations, driving demand among individuals seeking alternative treatments for conditions such as chronic pain, nausea, and spasticity associated with multiple sclerosis. Additionally, increasing public acceptance and awareness of THC's therapeutic potential, coupled with growing medical research supporting its efficacy, bolster demand. Moreover, Germany's aging population and rising incidence of chronic diseases contribute to the expanding market as more patients explore cannabis-based therapies. Regulatory developments and evolving consumer preferences toward natural remedies further shape the demand landscape, with stakeholders advocating for broader access to THC-containing cannabis products to meet the healthcare needs of a diverse patient population in Germany.

Based on the End Use Segment, which is the Fastest Growing Segment in the Germany Legal Cannabis Market During the Forecast Period?

Recreational Use Segment is anticipated to be the fastest growing segment in the Germany Legal Cannabis market during the forecast period. In Germany, the potential for recreational use of legal cannabis as a demand driver is influenced by several key factors. Currently, while medical cannabis is legal under strict regulations, recreational use remains illegal except for limited personal possession and consumption decriminalization in some states. The growing acceptance of cannabis in European societies, coupled with changing attitudes towards recreational drug use and personal freedom, prompts discussions about potential legalization. Advocates argue that legalizing recreational cannabis could curb black market activities, generate tax revenue, and create new business opportunities in sectors like retail and tourism. Additionally, successful precedents in other countries, such as Canada and parts of the United States, where recreational cannabis has been legalized, inspire debates and discussions among policymakers and the public in Germany. However, challenges such as regulatory frameworks, public health concerns, and social attitudes continue to shape the ongoing discourse surrounding the potential legalization of recreational cannabis in Germany.

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Germany Legal Cannabis Market: Key Companies

o Aphria, Inc.
o Aurora Cannabis, Inc.
o Canopy Growth Corporation
o Cara Therapeutics Inc.
o Cronos Group
o GW Pharmaceuticals, plc
o Insys Therapeutics, Inc.
o Sundial Growers Inc.
o The Scotts Company LLC
o Tilray
o VIVO Cannabis Inc.
o Other Industry Participants

Germany Legal Cannabis Market

By Source
o Marijuana
• Flowers
• Oil and Tinctures
o Hemp
• Hemp CBD
• Supplements
• Industrial Hemp

By Derivative
o CBD
o THC
o Others

By End Use
o Medical Use
• Cancer
• Chronic Pain
• Depression and Anxiety
• Arthritis
• Diabetes
• Glaucoma
• Migraines
• Epilepsy
• Multiple Sclerosis
• AIDS
• Amyotrophic Lateral Sclerosis
• Alzheimer’s
• Post-Traumatic Stress Disorder (PTSD)
• Parkinson's
• Tourette’s
• Others
o Recreational Use
o Industrial Use

By City
o Berlin
o Hamburg
o Munich
o Koeln
o Frankfurt am Main
o Rest of Germany

Jay Reynolds
The Niche Research
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