LONDON, Feb. 13, 2020 /PRNewswire/ -- Leading cannabis market intelligence and strategic consultancy firm Prohibition Partners has today launched The European Cannabis Report: 5th Edition. The report is the latest in Prohibition Partners' suite of market-leading regional cannabis reports, and provides a detailed look at the most recent developments occurring inside the nascent European cannabis sector.
Key insights from the report include:
- Luxembourg's impending legalisation of recreational cannabis is likely to cause a 'Domino Effect' of cannabis reform in Western Europe.
- In 2020 and beyond, Europe can expect to see progress towards a single-market distribution programme for cannabis-based medicinal products.
- European countries are seeking to establish a legal infrastructure and domestic supply in 2020, having been reliant on international imports in 2019.
- European investors are beginning to emerge as North American capital focuses on domestic requirements.
- European cannabis CPG groups continue to be attractive to North American investors and major international cannabis companies.
Ahead of the launch of the report, Prohibition Partners' Managing Director Stephen Murphy said:
"The European cannabis industry saw several important, progressive steps being taken in 2019. For example, there were progressive medical cannabis pilot access programmes announced in the UK and France and the government of Luxembourg pledged to legalise recreational cannabis by the end of its current term."
"While Europe was not immune to the difficulties experienced in the North American cannabis market, investors and operators are more buoyant about the opportunities that exist in Europe. New markets are coming online, existing players are beginning to find their niche and cannabis is continuing to disrupt mainstream industries."
"But the cannabis industry is still at a nascent stage of its development in Europe. Generally, it appears as though European lawmakers and regulators are taking a cautious approach and data from the international market show that there are still barriers to growth. Our market forecasts, analysis and insight reflect these changes to the market and present the most tangible intelligence across the industry."
The European Cannabis Report: 5th Edition offers an in-depth individual analysis of the countries and companies that are operating at the cutting edge of the European cannabis space, and details the key trends that will shape the future of these countries and the wider European market in years to come.
To learn more about the current European cannabis sector, and its future potential, download The European Cannabis Report: 5th Edition here.
About Prohibition Partners
Prohibition Partners unlocks the potential of cannabis through data, strategy and community. We enable our clients to make better business decisions that deliver transformational growth and disrupt mainstream verticals. We work with the industry's most influential stakeholders, some of the world's best-known brands and an unrivalled network of analysts, innovators and advisors.
SOURCE Prohibition Partners