The year 2024 has ushered in both new opportunities and challenges for the global cannabis industry. Let’s take a look at some of the key events and news from around the world, with a particular focus on Spain.
Global Cannabis News 2024
Federal marijuana legalization prospects in the U.S. grow stronger:
- Minnesota and Oregon have joined the growing list of U.S. states that permit recreational marijuana use for adults, bringing the total to 24 out of 50 states.
Source: washingtonpost.com - The U.S. Department of Justice has proposed moving marijuana from schedule I of the Controlled Substances Act (CSA) to schedule III of the CSA, a significant step toward federal decriminalization.
Source: nbcnews.com
More European countries have legalized controlled cannabis consumption or actively discussing this opportunity:
- Germany has approved the partial legalization of cannabis, set to take effect in April 2024.
Source: nbcnews.com - In October 2024, the Swiss government launched an initiative to add a constitutional amendment that would legalize cannabis.
Source: nbcnews.com - In November 2024, the Czech government approved a plan to legalize home cultivation and personal consumption of cannabis.
Source: nbcnews.com
King Mohammed VI of Morocco granted a royal pardon to more than 5,500 people, most of whom were cannabis growers. This could signal the beginning of a move toward legalizing cannabis production in the country.
Source: nbcnews.com
The cannabis tourism market is on the rise, with notable growth in both the U.S. and European countries, particularly Spain and the Netherlands.
Source: nbcnews.com
New cannabis products hitting the market. For example, cannabis-infused beverages, like teas and cocktails, are growing in popularity, as are cannabis-based skincare products, which are gaining traction due to their anti-stress and antioxidant properties.
Source: nbcnews.com
Sustainability is becoming a major focus in the cannabis industry in 2024, with companies embracing eco-friendly production methods, including solar panels, water recycling, and reducing their carbon footprints.
Source: nbcnews.com
Venture capital and private investments in cannabis-related startups are increasing, particularly in the U.S. and Canada. The global cannabis market is valued at $40 billion, and it’s projected to continue growing steadily, possibly exceeding $100 billion by 2028.
Source: nbcnews.com
The Key Cannabis News in Spain
Global Marijuana March in Madrid | by Fotoblog Rare from VLC, SP - Flickr, CC BY 2.0, Source
The Spanish parliament is once again debating cannabis legalization, with strong support from the Podemos party and the Sumar group. The Spanish Association of Cannabis Producers (ASEIC) is one of the most influential lobbying groups on the issue.
Source: nbcnews.com
In 2024, Spain’s Department of Health launched an initiative to broaden access to medical cannabis for patients in need. Pharmaceutical companies have also begun producing new forms of cannabis-based medicines, including oils and capsules.
Source: nbcnews.com
Spain’s unique system of cannabis clubs, where members can grow and consume cannabis in private spaces, is facing tighter regulation. In 2024, regional authorities began implementing stricter measures to monitor these clubs and ensure compliance with the law.
Source: nbcnews.com
