Even though Arcview and BDS are not expecting Germany to legalize recreational cannabis, the company’s highly permissive stance toward medical marijuana, and the fact that health insurers cover medical weed in the country, should allow sales to soar from $79 million in 2018 to $1.35 billion by 2024.
There’s a lot of competition in Canada right now, so it’s still unclear which company will be Canada’s kingpin. However, Aurora Cannabis (NASDAQ:ACB) is a relatively good bet to be near the top of the pack solely based on its production potential. Aurora is already leaps and bounds ahead of its next-closest competitors with an annual run-rate output of 150,000 kilos as of the end of March, and plans to be producing at least 625,000 kilos on a run-rate basis by the end of June 2020. With most of this production located in Canada, and the company sporting a number of large-scale grow farms, Aurora Cannabis should be able to take advantage of economies of scale to drive down its growing costs per gram.
As for Aurora Cannabis, its approval to construct a growing facility will allow the company to supply the German market with 4,000 kilos of marijuana over four years, with shipments expected to commence October 2020. Of course, this production capacity is liable to be bumped up if patient demand merits it.
2. Canada: $5.18 billion by 2024
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As should be no surprise, the U.S. projects as the leading marijuana market in the world by sales in 2024. In fact, the $30.1 billion in licensed-store revenue should comprise almost three-quarters of global licensed sales. According to Arcview and BDS, $9 billion of these sales are expected to come from the medical side of the equation, up from $4 billion in 2018, with the remaining $21.1 billion derived from recreational marijuana, up from $5.9 billion last year.
Arguably one of the oddest “legality” situations concerning marijuana right now is with Mexico. The nation’s Supreme Court has ruled five times since 2015 that imposing a ban on recreational cannabis is unconstitutional. That’s important, because when Mexico’s Supreme Court reaches five similar decisions on an issue, it becomes the standard throughout the country. Or, in layman’s terms, the Supreme Court has essentially affirmed the legality of recreational marijuana and is simply waiting for lawmakers in the country to hash out the details.
1. United States: $30.1 billion in cannabis spending by 2024
According to Arcview and BDS, Mexico will have legalized adult-use cannabis by 2024, although the ramp-up of legal sales could be slow. By 2024, recreational weed sales are only expected total $582 million, with an additional $441 million in medical spending, for a combined $1.02 billion. Mexico’s considerably larger population than Canada makes for an attractive market opportunity, but it’s unclear how well legal industries will fare with the noted presence of illicit producers.
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Cannabis is strictly illegal in Malta, and possession is still an arrestable offence, with fines for small amounts and imprisonment for larger quantities. Even the forced entry into rehabilitation programs is a possibility for repeat offenders, and there are severe punishments if the mandated conditions are not met. Despite these strict laws, Malta allows its residents to cultivate one plant in their homes without having to fear legal repercussions.
It is unclear, however, whether the cultivation for non-commercial use will be permitted, as the country intends to focus on a highly regulated legal market.
The generous limit of 10 plants should suffice for the production of enough marijuana to satisfy the needs of even the more excessive smokers and, as long as nothing of the harvested material is sold, the cannabis enthusiasts of Ukraine have nothing to worry about. The government is very open-minded and tolerant towards the herb, and it is even considering to raise the limit for possession from 5 to 10 grams.
The cultivation of cannabis is still illegal in nearly every European country and is often penalised with hefty fines or imprisonment. However, some countries are more lenient in terms of enforcement or sanctions placed upon individuals if they are caught with cannabis plants. Here is a comprehensive list of the best places to grow marijuana inside the confines of Europe.
Growing your own cannabis is the best way to ensure the purity and quality of the product you are consuming. This is why many people seek to cultivate the plant on their own. However, due to the laws regulating cannabis in their country, many Europeans are facing heavy punishments when participating in this procedure. But what are the best countries to grow cannabis in Europe?
Overall, the legal situation surrounding cannabis in Europe is still looking very bleak, as many countries are still chasing down individual marijuana users who only seek to cultivate their herb in private, while overseas, in the USA, Canada or Uruguay, people are enjoying their new-found freedom. However, the countries listed above and the advances made all around the globe spark new hope in every cannabis enthusiast longing to start his or her own growth.
Austria’s laws regulating cannabis are quite interesting and very tolerant, but the herb still remains illegal. In 2016, the government shifted its focus from punishing offenders to helping them instead. The possession of small amounts is no longer being prosecuted, under the condition that the culprit cooperates with the public health authority to find a solution for each individual.