Legal Cannabis Gone Global

Countries such as the Netherlands have created a catalyst for the legal international cannabis market. That market is growing, thanks to countries such as Canada, the US, Israel and Germany (among others) who’ve passed policy allowing the medicinal or recreational use of cannabis.

Growing markets are fueling business. Exports, such as extracts for medicinal products, are developing a demand across borders. More and more countries, from Australia to Brazil, and Finland to Italy, are opening trade to this heavily regulated and now legal market.

While the industry grows, so does cannabis use across the globe. In 2014 alone, the UN estimated that nearly 185 million used the plant at least once per year, especially in the EU and North America.

Despite varying legal frameworks, the need for medical cannabis products may hold the most potential for businesses who seek global markets. This is due to the nature of medicine; it’s controlled. “The [Single Convention on Narcotic Drugs …] categorizes cannabis as a Schedule IV drug, which under the treaty’s terms is the highest level of control alongside synthetic opioids,” stated the article. “The treaty recognizes and encourages scientific and medical use of controlled substances, but not recreational uses.”