The benefits of Medical Cannabis are well documented, and doctor and patient acceptance is growing steadily.
The EU medical cannabis market is one of the few, if not the only truly emerging market of this magnitude globally. By conservative estimations it is projected to have a compounded growth rate of 67% until 2028 and to reach €3 bn by 2025. Moreover, the market lifecycle in North America has shown that within 4–6 years, after medical cannabis is widely legalized, recreational use opens and the market size grows exponentially. Thus, Europe will be the single biggest cannabis market globally and presents a unique investment opportunity. More specifically:
On the 24th of November 2021, the new German coalition government introduced plans for the controlled distribution of cannabis to adults for consumption purposes in licensed stores. With a population of 85M people and one of the strongest economies worldwide Germany is bound to become the biggest recreational cannabis market in the world. Using the Canadian legalization experience as an example, we expect the German recreational market to be worth at least $6 billion in 3 years from now.
In 2021 Luxembourg, Switzerland and The Netherlands have all passed cannabis related recreational regulation.
In Switzerland and The Netherlands, new laws allow for the initiation of pilot schemes wherein cannabis can be legally produced, imported, and distributed to registered users.
As each EU member state legalizes recreational cannabis, the Greek regulatory environment is perfectly suited to allow for the unhindered export of cannabis products for recreational use.
Feeling the pulse of the ever-evolving European Medical Cannabis Market and given Greece’s first mover’s advantage, versus other EU countries, Corinth Group has decided to proceed with an investment in a Joint Venture for Medical Cannabis in Greece, in early in 2022, for cultivation, production and distribution. Production will be ready in the first quarter of 2023 and distribution will focus in major countries like the UK and Germany.