Europe: The cannabis industry’s eldorado
After North America, the cannabis industry dreams of conquering the European market — Britain in particular — and is banking on changing the image of the psychoactive plant, despite regulatory constraints and ethical debates.
Health, cosmetics, well-being and food were at the heart of a gathering dedicated to the promotion of the marijuana sector, organised in London yesterday by the investment bank Bryan, Garnier & Co.
Currently, the legal cannabis market in Europe — where medicinal use is allowed in most EU countries — is worth around US$1 billion (RM4.17 billon), Nikolaas Faes, a senior research analyst for the bank, told AFP.
In comparison, the US legal market is worth US$12-13 billion.