Germany Legal Cannabis Market Size, Share & Trends Analysis Report By Source (Hemp, Marijuana), By Derivatives (CBD, THC), By End-use, And Segment Forecasts, 2024 - 2030

Germany Legal Cannabis Market Size, Share & Trends Analysis Report By Source (Hemp, Marijuana), By Derivatives (CBD, THC), By End-use, And Segment Forecasts, 2024 - 2030

Germany Legal Cannabis Market Growth & Trends

The Germany legal cannabis market size is expected to reach USD 85.6 million by 2030, growing a CAGR of 14.9% over the forecast period, according to a new report by Grand View Research, Inc. Factors such as rising social acceptance of cannabis, growing medical applications of cannabis, increasing R&D & technological innovation, and the introduction of new cultivation technologies are expected to drive the cannabis industry in the country. For instance, in February 2024, according to data published in Reuters, 4.5 million individuals are estimated to use cannabis in Germany.

Furthermore, favorable government initiatives and reimbursement policies fuel the market growth. For instance, according to data published by the Federal Union of German Associations of Pharmacists (ABDA), the number of prescriptions for medical cannabis for Statutory Health Insurance (SHI)-insured patients in Germany was 338,500 in 2022. Furthermore, according to the same source, 14,840 Kg of cannabis was delivered to pharmacies for medicinal purposes in 2022.

Moreover, growing awareness among people regarding the therapeutic applications of cannabis and the launch of online cannabis prescription platforms drive market growth. For instance, in September 2023, Cantourage Group SE, a Berlin-based company, introduced Telecan, a telemedicine platform for medical cannabis, under the guidance of Florian Wesemann, a medical doctor. The platform offers a simple and convenient way for potential patients to access cannabis therapy.

In recent years, there has been a significant rise in the usage of cannabis and its derivatives in Germany. The medical application of CBD has gained immense popularity, leading to the development of policies for its distribution and use by the government. Moreover, conferences and various events being organized for cannabis industry leaders drive market growth. For instance, the International Cannabis Business Conference was to be held in Berlin in April 2024, Germany’s biggest annual gathering of influential political and cannabis business leaders.

The cannabis industry has witnessed the development of new techniques and technologies that aid in its cultivation, and these advancements are expected to boost market growth. The demand for technologically advanced cannabis production has led to the optimization of resources by cultivators. This, coupled with the increased utilization of hemp and marijuana in various sectors, such as personal care & cosmetics, pharmaceuticals, nutraceuticals, and food, & beverages, has impelled market growth. In addition, the use of cannabis and its derivatives by various businesses as a raw material for manufacturing products is projected to drive market growth over the forecast period.

Germany Legal Cannabis Market Report Highlights

• By source, the hemp segment accounted for the largest revenue share in 2023 due to rising demand for hemp-derived CBD oil and its health benefits. Furthermore, food manufacturing processes use hemp seeds and oil, which propels market growth.
• By derivatives,the CBD segment dominated the market with the largest revenue share in 2023, owing to the growing acceptance of CBD and its use in treating various chronic conditions.
• By end-use, the industrial-use segment held the largest market share in 2023 owing to the growing demand for hemp products, including fiber, seed, stalks, hurds, and oils for various industries, such as food & beverage, personal care, and animal care.

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