Report: More than half of Americans would buy cannabis in Germany

On April 11, Germany-headquartered Bloomwell Group published the findings of its ‘European Cannabis Market Survey.’

As per the survey findings, Europe’s “green rush” is in full swing and Americans are preparing to get a slice of the action.

Specifically, the report delves into the expectations of cannabis consumers and their views on this flourishing sector; e.g. investment opportunities, tourism and trade.

Key takeaways from the survey into cannabis in Europe

Most of the respondents – 80 percent – seemingly nodded their heads in agreement that “cannabis companies are attractive investment options.” Meanwhile, “61 percent revealed that they felt inclined to “invest in European cannabis stocks.”

Respondents also noted that cannabis tourism is an ever-changing subject in Germany, which recently took the next big step to legalize adult-use cannabis after numerous years of broadening its medical market. 

Industry insiders foresee Europe bringing cannabis online by 2024. However, tourism policies have not yet been hashed out. The prospects are good, however, with 66 percent of the surveyed Americans saying that they “would visit a cannabis dispensary or social consumption lounge” in Germany.

The current status of cannabis in Europe

Over the course of the last year, the European cannabis market has come on in leaps and bounds. Things shifted in the direction of green with Luxembourg’s cannabis decriminalization rule, which led to Malta decriminalizing possession; the Netherlands launching the first commercial cannabis cultivation pilot program to come out of Europe; and Switzerland steering a pilot project.

A European country that deserves a special mention is Germany, where a medical cannabis market has been thriving for five years and an adult-use sector is on the verge of gobbling up every gram of glory it so rightly deserves. In fact, Germany looks set to become Europe’s next adult-use capital.

When analysts from BDSA published a report earlier this month, they pinned a $10 billion valuation on the European cannabis market by 2026. Interestingly, the majority of legal spending will emerge from Germany, which is anticipated to contribute $3 billion by 2026.

“Germany has 82 million inhabitants that’s more than Canada and California, two of the current biggest cannabis markets on the globe. Therefore, when Germany opens up for adult-use cannabis, it will become the biggest market in the world,” said the CEO and co-founder of Bloomwell Group, Niklas Kouparanis. “The future language for cannabis will be German.”

Reverting back to the Bloomwell Group’s ‘European Cannabis Market Survey, readers can also brush up on their knowledge of Europe’s influence on American cannabis.