The sector, already among the world's seven largest producers, values the new regulatory framework for medicinal use as a necessary step forward, but emphasizes that the real economic power and business opportunities remain in foreign trade, with Germany and the United Kingdom as priority destinations. Companies warn of the risk of losing competitiveness to emerging powers such as Portugal and Morocco.
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The Spanish cannabis industry is at a crucial juncture. The approval in October of regulations for medicinal cannabis has generated cautious optimism in a sector that has been operating as a for years exporting giantWith a business foundation that combines more than two decades of industrial and commercial experienceSpain has established itself as one of the seven largest producers in the world.
Although the new legal framework opens the door to the domestic market—limited for now to hospital dispensing and excluding cannabis flower—the main companies in the industry insist that the real economic potential It is found abroad, especially in the most developed European markets.
"The new regulation is a first step that gives internal legitimacy"But the real economic muscle has been built elsewhere," he explains. Raúl del PinoDel Pino, head of communications for Spannabis, the leading international trade fair in Europe, adds: "For over 20 years, we have been contributing to the consolidation of an industry that generates employment, investment, and exports. Spannabis has been an economic engine and a key meeting point for Spain to position itself as a European leader."
A regulation with potential but "insufficient"
The sector, comprised of some 70 companies and near 500 employees, has expressed criticism regarding the scope of the new regulations. According to the Spanish Association of Medicinal Cannabis Businesses (AECAME), the exclusion of the flower and the initial restrictions leave "90% of the national productive fabric out".
The industry's activity has historically been focused on exporting In 2024, Spain reported a production of 51,3 tonnes , with the 100% destined for export Under licenses from the AEMPS. The consulting firm Cannamonitor It is estimated that exports will exceed [the number of exports] only in 2025. 10 tonnes , with Germany and the United Kingdom as the main destinations. The Spanish market is led by large operators such as Linneo Health (owned by the Torreal group) or Medalchemistry (Curaleaf subsidiary).
The sector, which is already among the world's seven largest producers, considers the new regulations a 'timid' step forward and seeks to consolidate its export leadership.
Europe, the true engine of business
El dynamism of the European environment This highlights Spain's regulatory lag. While Spain is moving forward with a limited framework, neighboring countries have adopted more open models. Germany, The main European market by volume has consolidated its position following the approval of the law regulating medicinal and recreational use (in force since April 2024), which boosted its imports from 31 to nearly 70 tons in 2024.
PortugalFor its part, it has specialized in the export production, managing to export more than 25 tons in 2024The Portuguese country has become a hub competitive thanks to its stable regulation, lower energy costs and attractive taxation for foreign investment.
Furthermore, Morocco It is emerging as a new regional competitor. With 4.751 hectares of legally cultivated land and a state-backed cooperative structure, the African country aims to capture a share of the European market estimated at over 600 millones de eurosthanks to its proximity and low production costs.
"Spain has the quality, experience and industrial infrastructure necessary to lead the European market, but It needs an agile and competitive framework. "That complements its potential," Del Pino warns. And he clarifies: "Otherwise, we run the risk of the economic opportunity shifting to Portugal or Morocco."
Spannabis' role as an economic barometer
In this context of intense international competition, Spannabis It is consolidating its position as a strategic event. The fair, held this year in Bilbao, brings together thousands of professionals and investors, and its economic impact exceeds 25 million euros per editionFor companies that depend on exports, visibility at trade fairs like this is crucial. essential for closing deals with international buyers.
Experts agree that the direct economic impact of the new regulation will initially be limited, but with a positive 'snowball effect'In the medium term, it is estimated that the sector could generate a domestic market of between 250 and 400 million euros annuallyand position Spain as a hub European pharmaceutical production.
"The challenge now is for regulation to support business development and allow us to compete on a level playing field with our neighbors. The economic and health potential is enormous."All that's missing is the political will to take advantage of it," concludes the Spannabis communications manager.
