Italy is predicted to pull in $1.2 billion in cannabis sales by 2027

Italy is on its way to raking in $1.2 billion in cannabis sales by 2027. The country’s blossoming cannabis industry ranks second in the entire European market, with Germany assuming its position as the leader. This information is based on The Road Map to a $57 Billion Worldwide Market. 

ArcView Market Research teamed up with BDS Analytics to release the report, which discloses how the projected figure for worldwide consumer spending will top $57 billion by the year 2027. An estimated $38.3 billion of the total amount will be spent on adult-use cannabis and the remaining $19.1 billion on medicinal-use cannabis.

The legal status of medical cannabis in Italy

Famous for being one of the most romantic destinations in the world, Italy is better known for its authentic Italian pizza than it is for its cannabis market.

However, things could soon be changing as the country adapts to reformed drug laws regarding cultivation, sales, and possession of the plant.

Medical-grade cannabis was legalized in Italy back in 2007. By 2014, the Italian Government had given the army the duty of cultivating medical cannabis crops.

All medical buds used by patients are produced at the same army installation on Florence’s outskirts.

The Italian army has been running the Military Chemical-Pharmaceutical Plant since 2016. With a $2 billion investment in the pipeline, the growing hub could start producing enough cannabis for exports to the Vatican.

Just last fall, the first ever social cafe opened for medical consumption of the plant. This cafe is located in Rome and is known as Canapa Caffe.

The legal status of recreational cannabis in Italy cannabis is fairly decriminalized in Italy, although possession of the plant remains illegal.

Federal lawmakers are constantly making efforts to legalize cannabis for recreational use.

If you are found to be in possession of small amounts of cannabis on your person, the police may let you off.

However, it is not known exactly how much cannabis is deemed to be “too much” and so, care should be taken by anyone who wants to avoid potential fines and/or jail time.

First-time offenders in Italy were let off the hook in 2014 when the Parliament introduced new laws that meant their penalties could be revoked. Repeat offenders were also given lighter sentences as a result of those new laws.

The legal status of cannabis farming in Italy

Believe it or not, Italy was once a world leader in hemp production. As many as 90 thousand hectares were cultivated by the country for half a century.

Hemp can now be produced by almost any farmer in Italy, so long as the Tetrahydrocannabinol (THC) content is no more than 0.2 percent.

This has been the case since last year when a reform was put in place to give Italy’s burgeoning hemp industry an almighty boost.