Europe Becomes Key Force In Global Cannabis Market, New Report Finds

The cannabis industry in Europe is advancing into its next stage of expansion. The growth is driven by medical cannabis programs that amplify, as well as telemedicine adoption, international trade, and stricter EU/UK pharmaceutical manufacturing standards. That’s according to a new report from the Global Cannabis Network Collective and Whitney Economics.

Released at Cannabis Europa 2026 in London this week, the report sees Europe as a major factor in shaping the next phase of the global cannabis industry, as it holds the position of the world’s second-largest cannabis market by value.

In discussing Europe’s approach to cannabis reform, Beau Whitney, chief economist at Whitney Economics and lead author of the report, explained “Europe is taking a far more methodical and medically oriented approach to cannabis reform than many markets pursued during earlier expansion cycles.”

“That slower pace may frustrate some operators, but it is also creating a level of structure, predictability, and long-term institutional credibility that is attracting increasing international attention,” Whitney continued.

In the next three to five years, European countries will play a crucial role in shaping regulations, expanding patient access, and competing in a more interconnected global cannabis supply chain, the report said.

While Germany is at the forefront of cannabis reform, markets in Portugal, Spain, the Czech Republic and the UK are following suit, boasting telemedicine growth, cultivation expansion, and evolving cannabis policies.

In the meantime, international cannabis imports into Europe are accelerating with supply coming from Canada, Portugal, Latin America, Africa and Australia.

With the rise in imports, intensification of competition and maturing of supply chains, pricing compression is appearing across Europe.

Nevertheless, EU GMP pharmaceutical manufacturing standards are becoming essential for companies that seek long-term access to medical cannabis markets in Europe.

Many U.S. cannabis operators own EU-GMP-certified facilities and distribution networks. As U.S. federal law still makes it illegal for direct U.S. plant-touching operators to hold EU-GMP certifications to legally export product to Europe, the U.S. multi-state operators acquired foreign licensed producers that already hold the required EU-GMP certifications, effectively bypassing the restriction.

Some of U.S.-based companies that hold EU-GMP-certifications include:

• Curaleaf Holdings, Inc (TSX: CURA) (OTCQX: CURLF), is present in the European market through its subsidiary, Curaleaf International.
• Cannabis giant Tilray Brands, Inc. (NASDAQ: TLRY) (TSX: TLRY) operates extensive EU-GMP certified facilities in Portugal and Germany, supplying medical cannabis across the EU.
• Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) partnered with Blossom in late 2025, its EU GMP-certified manufacturing partner in Portugal, to launch three signature flower products.