Hawaii Cannabis logo

Forbes magazine published a report that states that the Brightfield Group expects the marijuana market worldwide to be worth almost $8 billion by the end of 2017.

The report further projects that the marijuana market is expected to exceed $31 billion by 2021. Today marijuana is more than just weed. It has grown to include a lot of products that include vapes, oils, rosins etc. Now marijuana edibles exist including candies, gummies and baked goods.

The United States holds about 90% market share of the global marijuana market. But marijuana is increasingly recognized in other countries, and that domination will likely decrease to about 55%. In California, new recreational marijuana laws came into existence on January 1, 2018. During the Obama administration, a new policy was issued that stopped federal prosecutors from prosecuting marijuana-related criminal cases in states where medical or recreational marijuana was legalized. This policy applies to California as Cannabis is licensed for Adult use. For many people California leads the way for the future Cannabis markets. One can find all kinds of quality Cannabis strains in the menus of Californian Marijuana dispensaries.

When Donald Trump came into presidency, Attorney General Jeff Sessions dismissed the policies of the Obama Administration. So, federal prosecutors can now interfere with the state decisions on the legalization of marijuana. Marijuana remains illegal in the United States as a whole, but the marijuana industry is still growing rapidly. Federal prohibition of marijuana hasn’t changed anything.
In Canada, there are giant strides that are being taken to make the country the largest in the world to legalize the sale and production of marijuana for adults. A lot of investors are eyeing the Canadian marijuana industry, and there promises to be a lot of growth and sales in this country. A successful mail only distribution process and licensed producers system has shown that the country is willing to legalize marijuana for adults. New laws are on the way to make distribution and production easier and better for medical marijuana retailers and consumers.

In Europe, Germany started a medical marijuana program in January 2017. Laws have been passed to legalize medical marijuana. A marijuana agency is being created by the Federal Institute for Drugs and Medical Devices (BfArM). The agency will regulate the manufacture, sales, and cultivation of medical marijuana. Local production is not yet up to standard, so the country will largely depend on imported medical marijuana products. There are 739 million people in Europe, and there are over $1.5 trillion in healthcare spending in Europe. Europe currently has the potential to be the largest medical marijuana market in the world.

In Denmark, there is a four-year medical marijuana program. The guidelines of the program allow companies to apply for admission of medical marijuana products at the Danish Medicines Agencies. Products approved by the Danish Medicines Agencies can be prescribed by doctors and distributed by pharmacies in Denmark. Prior to this, there had been restrictions on research into the effects of medical marijuana. But with the start of this program, research is being encouraged so more information can be gotten on the use of marijuana
for medical treatments and its effects.

In Greece, the parliament has now approved a law for the sale and cultivation of medical marijuana. Five international companies are already interested in spending over $1.2 billion into the medical marijuana industry in Greece. Now Cannabis Sativa L that has more than 0.2% THC can now be produced, possessed and supplied.

In Italy, marijuana that is low in THC and high in CBD content is being sold all over the country. The legalization process for medical marijuana has been coordinated and monitored by the Italian Ministry of Health. Licensed marijuana farmers are allowed to cultivate and supply marijuana to the Italian Ministry of Health. The Italian Ministry of Health then allocates plant for production of the marijuana substance which is then bought by pharmacists who sell it to final users. The Italian Ministry of Health is in charge of distribution, production, and possession and use permits.


Sponsored Content – What’s this?