CANNABIS MARKET IN GERMANY

The biggest international medical cannabis market outside of North America is Germany and is expected to reach $2.7 billion by 2023. 
It is estimated that the German medical cannabis market totaled only $73 million in 2018 but will grow to $2.7 billion by 2023.

The Largest CBD market in Europe in 2023 will also be in Germany
Currently it is the U.K. and Austria, but by by 2023, it is expected that Germany's CBD market will be the biggest in Europe with close to $605 million in sales. That's a significant jump from estimated German CBD sales of nearly $38 million last year. 

There are currently only four lots of cultivating licenses remaining in Germany. 
Currently demand exceeds supply and Germany obtains its supply  from several suppliers.

  • Medcann imported the first Canadian medical cannabis into the German market in partnership with Canopy Growth.
  • Farmako, a new, Frankfurt-based distributor, imports from Poland and Macedonia. and has subsequently reported that in the month of March, they became the top selling cannabis specialty distributor in Germany. 

What is also very clear is that the German door for cannabis and the international industry appears to be opening to product sourced from many places. 
The German government is now also in the process of recognizing foreign GMP certification processes from multiple countries all over the world as being equal to its own within the cannabis market.

It appears that the countries and companies that have the right to import to Germany must first have their own national GMP certification recognized as being equal to German standards – or a so-called Mutual Recognition Agreement (or MRA) must exist between the importer and exporter nations. It still means that to be really EU-GMP compliant, inspectors have to walk your cultivation floors. But first your country has to have the MRA. And that is a matter for lawyers and regulators to decide.

The biggest news, is that the EU and the U.S. will enter into an MRA this month that was finally agreed to in February of this year. This will also mean that cannabis “medicines” potentially even beyond CBD, produced via U.S. GMP processes, will be allowed to enter Europe if not Germany in the near future – and from the U.S. for the first time. Ahead of federal legalization in the U.S.

It also means that Israeli and American firms will be allowed to enter the European and thus German market for the first time (on the ground with product) by at latest, the third quarter of this year.

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