A billion-dollar market is emerging: cannabis in Germany
The German cannabis market is facing a huge upheaval. According to a new market study by The Niche Research, the legal sector is set to reach a value of around 4.6 billion US dollars by 2034. This corresponds to a compound annual growth rate (CAGR) of 17.2 % between 2024 and 2034 – a strong signal for investors, companies and consumers.
Legalization brings dynamism to the market
Since April 1, 2024, the new Cannabis Act (CanG) has been in force in Germany, which sets out the first regulations for controlled distribution and home cultivation. The homegrow sector in particular is currently experiencing a real boom:
According to a Pronova BKK survey, 51% of respondents could imagine growing cannabis themselves.
Among occasional consumers, this proportion is as high as 40%.
A YouGov survey also shows that 7% of adults have already bought seeds or cuttings. A further 11% plan to do so in the future.
European sperm banks are already reporting a significant increase in orders – a clear indication of the new demand.
Medical cannabis benefits in particular
Germany was already Europe’s largest market for medicinal cannabis before it was approved. The CanG removed cannabis from the list of narcotics, making it much easier for patients to access.
Economic effects: Jobs, clubs and billions in potential
There are also enormous opportunities for the labor market. A study by Heinrich Heine University Düsseldorf initially predicted around 27,000 new jobs as a result of legalization – but this figure is likely to prove too low.
Outlook: Germany as a cannabis heavyweight
With the growth in medicine, home cultivation and social clubs, Germany is positioning itself as a key market in Europe. The coming years could turn the location into one of the world’s most important cannabis hubs.
👉 Conclusion:
The legalization of cannabis in Germany is already having an enormous economic impact. From the homegrow trend to the medical sector and new jobs – the forecasts clearly show that Germany is on the verge of a green boom.