With another 4/20 in the books, we are here once again with our special series to celebrate the industry. Every day of this week, suppliers – but mainly growers – will take the stage to take stock of the cannabis industry so far this year. With tariffs hitting from all over the place – both from the US, but also from Israel which has been targeting Canadian cannabis specifically. Today, we'll kick off our special with a focus on Europe – that's where we are based after all. Four growers are sharing their opinions today, namely Switzerland-based Cannerald, Denmark-based Nordic Supreme, UK-based Curaleaf, and San Marino-based Health Farm.
The biggest opportunities in Europe lie in the medical market. Despite the enthusiasm around Germany's adult-use legalization, the situation in European countries is still far too fragmented, and only a few, in addition to Germany, are pursuing adult-use policies. Those few examples do not resemble the North American cannabis market, where everything is based on the principle of the free market. Rather, the main guiding principle in Europe has been harm reduction. This essentially means that business in European adult-use, especially for the foreseeable future, will be very limited. The real opportunities are indeed in the medical market. As policies become more progressive and access increases, medical growers are poised to find fertile ground in the European medical cannabis market. The road ahead, however, isn't without obstacles and challenges.
Cannerald – Switzerland
That sentiment is echoed by Levin Amweg, CEO of Switzerland grower Cannerlad. "The European cannabis market is in constant evolution. Every few months, we see new laws, shifting consumer expectations, and changing access to medical cannabis. This means that everyone involved in the space - from producers like us to distributors, pharmacists, and regulators - is continuously adapting." To put it bluntly, medical cannabis is gaining momentum. Countries like Germany have made major steps forward, especially with the recent cannabis law reform, and there's also more openness in places like Switzerland, the UK, and the Czech Republic. "Each country is at a different stage, but the general direction is the same: more acceptance, more structure, and more opportunity. From our point of view, the macro sentiment is clear: Europe is building the foundations of a regulated and mature cannabis ecosystem. And while there's still a long road ahead, the direction is promising especially for companies that focus on doing things right," Levin points out.
However, not all that glitters is gold. As mentioned earlier, the challenges still abound, despite the enthusiasm of local operators. Levin indeed points out that it's quite difficult to deal with the regulatory patchwork across Europe. Each country has its own rules, its own processes, and its own pace. "That means we constantly need to adjust how we work - not only on paper, but also in how we engage with partners, customers, and authorities."
© Cannerald
That also brings up the argument of the supply chain, and how the fragmented regulatory environment makes logistics quite the hassle. "Moving product legally, safely, and consistently in a still-fragmented European landscape isn't simple. There's also still a fair amount of public stigma and confusion around cannabis. While it's improving, education hasn't caught up with regulation yet. These challenges are signs of a market in its early stages - and we believe the companies that can navigate complexity with a long-term mindset will be the ones shaping the future."
And while some states in the US are dealing with price compression, Levin believes that in Europe the discussion around price can only go so far, and that the main focus should be on quality. "At some point, patients, doctors, and regulators will refocus on what truly matters: product consistency, purity, and effectiveness. That's where we put all our energy at Cannerald - growing high-quality, medical-grade cannabis in a controlled and certified environment. For us, quality isn't a trend, it's the baseline. In the months ahead, the most successful companies won't necessarily be the cheapest - they'll be the ones that deliver on quality, transparency, and purpose. That's where we see the market going, and that's the direction we're committed to," Levin concluded.
Curaleaf Clinic - UK
The situation in the UK is quite peculiar compared to other countries in Europe. Yet, the market, while rather small, has been steadily growing, and Curaleaf Clinic has been capitalizing on this growth, which they continue to see. "In the first quarter of 2025, we have continued to see strong growth in UK patient numbers as more people are turning to medical cannabis for conditions such as chronic pain, anxiety and PTSD, among others," said Simon Erridge, research director at Curaleaf Clinic.
At the same time, before the UK medical cannabis market can unleash its full potential, there's the issue of education to tackle: education and awareness. Surveys the company has conducted to better understand the extent to which people know that doctors can legally prescribe medical cannabis showed that almost 50% of respondents didn't know medical cannabis was legal in the UK, and of those who used cannabis regularly, 25% weren't aware of medical marijuana. In other words, the assumption is that one in two adults in the UK don't know cannabis medications can be prescribed. "There is still a challenge with raising awareness of medical cannabis among the UK public, as well as healthcare professional and other important groups." Which is the main reason why Curaleaf Clinic is going to be laser focused on education, with the goal of turning the tides in the UK medical cannabis scene. "In 2025 we are doubling down on education, raising awareness and research as we see these as core pillars for the medical cannabis industry in the UK and internationally."
© Curaleaf International
As the awareness and education issue gets tackled further, Curaleaf UK continues to see patient numbers growing. "Due to the rising number of people who find themselves suffering from chronic physical and mental health conditions in the UK we anticipate that the number of people prescribed medical cannabis will continue to grow. The range of ways people can access care are increasing and the cost barriers are continuing to come down in the UK, including at Curaleaf Clinic. We are hopeful that this will help current patients and also make care more accessible for new patients in 2025 and beyond," Simon concludes.
Health Farm – San Marino
There's a saying in Italian that goes, the good wine is in the small barrel. Even though San Marino is one of the smallest countries in Europe, their medical cannabis space is definitely livelier than that of their Italian neighbors. There are no licenses available to grow medical cannabis in Italy – only the army is permitted to do so. San Marino has handed out a few licenses to grow medical cannabis, but so far, only one is operational: Health Farm. The market there is then to be built entirely, and Ruggero Stacchini, founder of Health Farm, is very much aware of that, as well as of his role in this emerging market. "It's a sector that requires training and high-quality raw materials. This is our goal: to fill the gaps in raw material supply and to inform people about the use of cannabis in various conditions of suffering and illness, reducing the use of sometimes debilitating medications."
© Health Farm srl
The company has recently received their GMP certification, putting Health Farm on the European radar, rather than the rather small one of San Marino. "The latest challenge we faced was obtaining GMP certification, which we achieved just a week ago. But every day brings new challenges - safety, permits, bureaucracy - yet we move forward one step at a time, and we are ready to face them."
Nordic Supreme – Denmark
Across the North Sea, the sentiment is cautiously optimistic. Mads Pedersen, founder of Danish breeding company Nordic Supreme, highlights how Denmark is steadily becoming a more mature market, with increasing interest in exports and growing trust from international partners. "The producers are here, and customers are starting to talk about Danish cannabis more and more," he says.
© Nordic Supreme
Still, the market remains under pressure. "Everyone's feeling the squeeze on pricing, and that's pushing for more streamlined, harmonized regulation across the EU." Pedersen points out the uneven playing field that results from different national rules on cultivation inputs and compliance, noting how some substances are banned EU-wide, but many rules still vary from north to south. At the same time, a reduction in Canadian cannabis output and growing geopolitical concerns - particularly around trade with the US - may end up favoring European producers. "People are going to want local product - and not just for practical reasons, but because European-grown is becoming a brand in itself," Mads concludes. "That's something we're ready to build on."
Stay tuned for part 2!