Players' landscape

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Selected market players in North America

In recent years, the Canadian cannabis market has been growing explosively, fueled by progressive legislative changes, innovation, favorable export policies and a flourishing commercial market. The use of medical cannabis has

been legal since 2001, and recreational cannabis use was legalized in October 2018. More recently, in October 2019,

edible cannabis was also legalized. The United States shows a similar trend in several states. At the moment, 11 states

have legalized recreational cannabis and another 33 states have legalized medical cannabis. Nonetheless, US companies face a more complicated landscape because cannabis is still illegal at federal level. Hemp was legalized at federal level in December 2018. These developments have resulted in a lot of new companies entering the market, creating a very scattered landscape. Companies are aiming to secure a strong market position, and are still discovering how to best do this in terms of products/service portfolio, value chain position, partnerships, etc.

Selected market players in Europe

The European cannabis market has been around much longer than the North American one. However, the changes in

legislation in Europe have not been as progressive as in Canada and the United States. Subsequently, the North American market has surpassed the European one. On top of that, the European market is more complex than the one in North America, with different laws, norms and values in each country and a significant gray area. While the European market consists of multiple players that have been around for a long time, the market is even more scattered than in North America, with only a few cross-border players.

“With the rapid development of the global cannabis market, M&A activity has also accelerated andreached an all-time high.”

Frank de Hek, Horticulture specialist, Amsterdam, the Netherlands