The majority of Europeans support legal weed, but which country will do something about it?
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Europeans are becoming more open to cannabis legalization, according to new survey data released by Hanway Associates and reported by Curaleaf International, one of Europe’s vertically integrated marijuana companies.
The data showed that a majority of Europeans support the legal, state-regulated sale of marijuana to adults over the age of 18. The poll polled more than 9,000 people, of whom 55% said they supported legal recreational cannabis, 20% said they were indifferent, and the remaining 25% opposed it.
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Additionally, about 48% support regulated marijuana retail stores, 35% support home growing, and 32% support community groups. Interestingly, home growing faces the greatest resistance at 41%.
Europe & Hemp
The EU’s openness to cannabis legalization should come as no surprise as Europeans are witnessing the economic benefits in the United States, particularly during the COVID-19 pandemic when cannabis use has skyrocketed and during the lockdown, big bucks are being made from sales and distribution delivery has been earned.
In addition, numerous European countries have legalized marijuana for certain medical purposes and others have decriminalized general use, while some are currently testing both of these options in the form of pilot programs, such as B. France.
TIED TOGETHER: Luxembourg leads Europe into the cannabis era
Just last year, Luxembourg became the first European country to legalize the cultivation of weed for personal use, while Malta became the first country on the continent to officially legalize cannabis. Many industry experts believe that Germany could be next in line to focus entirely on leisure activities.
About five years ago, Germany decriminalized medicinal cannabis. Analysis by Düsseldorf’s Heinrich Heine University Institute for Competition Economics (DICE) last year suggests that a fully legal cannabis market could bring Germany up to €3.4 billion in tax revenue.
“There is a clear political will and willingness in Germany to legalize recreational use,” Curaleaf CEO Joe Bayern told Reuters. “As Germany is the largest economy in Europe, we believe it will lead the way and create a domino effect for the rest of the continent.”
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According to a report by research firm Prohibition Partners, the European market is projected to grow at a compound annual growth rate (CAGR) of 67.4% from 2021 and reach €3.2 billion (US$3.49 billion) by 2025.
“This report makes it clear that the majority of Europeans would like to see recreational cannabis available in a way that allows adults to have access to high quality and regulated products,” said Antonio Costanzo, CEO of Curaleaf International. “As the largest vertically integrated cannabis company in Europe, with a market-leading medicinal cannabis offering in nine European countries, I believe Curaleaf International is ideally placed to take advantage of this opportunity. Additionally, our parent company, Curaleaf Holdings, leverages a multi-state operator model in the US that can be replicated in Europe to provide us with a significant first-mover advantage.”
This article originally appeared on Benzinga and has been republished with permission.
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