Euromonitor Reveals Top 15 Most Attractive Markets for Legal Cannabis
CHICAGO – Global market research company Euromonitor International identifies the top 15 countries with the most market potential for legal cannabis in a new white paper, “The Cannabis Index: Where Will Legalisation Move Next?”.
North America dominates the US$166 billion legal cannabis opportunity, according to Euromonitor International. Canada takes the top spot on the Euromonitor Cannabis Legalisation Index followed by the U.S., Italy, Uruguay and Germany, respectively.
- Canada sets the pace with the adoption of legal cannabis in 2018 and will continue to play an influential role in the global industry through its corporations and regulatory framework.
- U.S. presents substantial opportunity with a large existing consumer base, strong alcohol and tobacco consumption and significant disposable income, but fragmented regulation illustrates the near-term issue for investment.
- Italy is expanding medical cannabis production and eligible conditions. The high recreational use of illegal cannabis and legal low-THC products make the country an attractive market for legal cannabis.
- Uruguay pioneered cannabis legalisation in 2013. The country could be an influential exporter of leaf and extract and serve as a regulatory model for other markets.
- Germany has the attributes to become a compelling market with substantial tobacco and alcohol consumption alongside a growing percentage of the population using cannabis.
“A key question for the industry is which models new countries will adopt for cannabis legalisation,” states Shane MacGuill, head of tobacco at Euromonitor International. “Geography, attitude toward adjacent products like tobacco and alcohol and level of government involvement in the economy are three factors that will impact future regulatory frameworks.”
The new Euromonitor Cannabis Legalisation Index ranks 100 countries on market potential for legal cannabis, using three indicators to score attractiveness: legal status, socio-demographics and current consumption of tobacco, alcohol and cannabis.
Download Euromonitor International’s white paper, “The Cannabis Index: Where Will Legalisation Move Next?”, to discover the top 15 countries and forces shaping cannabis regulation.
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