Could The German Cannabis Market Be Worth $100 Billion In The Next 5 Years?
This article was originally published on Cannabis.net and appears here with permission.
Last March, Germany announced that they would be legalizing recreational weed.
Thousands of German residents are relieved that the country has finally legalized adult-use marijuana; medical use has been legal since 2017 but the German marijuana market has been plagued with issues. These include extremely strict regulations, access and supply issues. After all, cultivation (as well as possession) of marijuana was illegal, as per the German Federal Narcotics Act. The law only made exceptions for specific and rare circumstances, which added complexity to the legal framework.
Yet, given the sheer size of Germany’s medical marijuana market – with approximately 6.71 million people who were taking cannabis for therapeutic reasons in 2022, one can say that these problems are expected.
And despite having medical marijuana laws, the black market is still prevalent in Germany. Young people and minors always found a way to buy weed off the streets, which was becoming a problem. Other issues they faced, which is common among other countries where recreational use still isn’t legal, include contaminated weed.
Finally, as of April 1, 2024, Germany became the third European country to legalize weed for recreational use. According to the government, there would be other benefits to legalizing cannabis for personal use, such as tackling the illegal drug trade, minimizing the risk of contaminated weed, and allowing police the resources to go after actual serious crimes.
According to the new law, adults can possess as much as 25 grams of weed for recreational use. In addition, adults are now allowed to grow up to 3 cannabis plants at home. Consumption of weed is restricted …