CURALEAF International (the “Company”), Europe’s largest vertically integrated cannabis company, welcomes the findings from a new European poll and report on the European recreational cannabis market, the first of its kind by Hanway Associates, an advisory firm specialising in strategy, research and M&A in the cannabis sector.
The polling data published by Hanway Associates reveals that there is majority support across Europe
for legal, government-regulated sales of cannabis products to adults over the age of 18 years. Overall,
of the 9,043 adults surveyed, 55% supported legal recreational cannabis, 20% were indifferent and
the remainder, 25%, were opposed.
Of particular importance to Europeans was companies’ adherence to the highest standard of service and regulation in their approach to legal recreational cannabis, which is why a regulated retail offering is the least controversial option amongst supporters of legal recreational cannabis with 81% in favour vs social clubs (56% support) and home grown (62% support). Of all the respondents in the poll, 48% support regulated retail stores, 35% support home grown and 32% support social clubs. Home grown has the strongest opposition with 41% against amongst all respondents. These findings indicate promising commercial opportunities for stores and highly regulated product.
Antonio Costanzo, Curaleaf International CEO, said: “This report makes it evident the majority of
Europeans want to see recreational cannabis available in a way that allows adults access to high quality
products that are regulated. As the largest vertically integrated cannabis company in Europe with a
market-leading medical cannabis offering in nine European countries, I believe Curaleaf International
is ideally positioned to leverage this opportunity. Moreover, our parent company, Curaleaf Holdings,
utilises a Multi State Operator model in the USA that can be replicated in Europe to offer us a
meaningful first mover advantage.”
Joe Bayern, CEO at Curaleaf, said: “This report proves what Curaleaf has been saying for some time
now, that Europeans want access to safe, competitively priced and high-quality cannabis that is legal.
The next step is for legislation to catch up to consumer demand. Thankfully, we see promising action
from several governments. Germany’s incoming government committing to legalising recreational
cannabis is an inflection point for the market since it represents the largest economy in Europe. Once
Germany goes the rest of the continent is likely to follow suit. Curaleaf, via Curaleaf International,
looks forward to being a best-in-class provider of the highest quality cannabis products to European
patients and consumers.”
