Cannabis & Tech Today -- Fall 2021

Page 26

DEPARTMENTS // INTERNATIONAL

Standardize It! Europe’s Desperate Need for Consistent Industry Regulations By Alex Rogers Cannabis reform continues to march across the European continent and it’s creating tremendous opportunities in the legal cannabis industry. No other large industry on the planet is growing at the rate of the emerging cannabis space, and there’s no end in sight — especially on the European continent. Europe’s legal cannabis industry is based primarily on medical cannabis. However, that will change in the coming years. Several countries are poised to legalize cannabis for adult use, including commercially, and legal European cannabis sales will explode once that happens. Switzerland is already providing a glimpse into how commercial legalization will look. LowTHC cannabis products are already legal in Switzerland and have been on sale since 2017. Even with a limited amount of products to offer, sales are substantial and increasing every year. This was an intense topic of discussion during our International Cannabis Business Conference Global Investment Forum in Zurich in September. Can you imagine when legal sales are expanded to include all cannabis products across the entire continent? An Often Overlooked Sector of Europe’s Industry Let’s put Europe’s cannabis industry hype and potential aside for a moment. It’s worth noting it will only reach its full potential when sensible rules and regulations are in place, and they are as uniform as possible across the continent. Right now, Europe’s cannabis industry is governed by a patchwork of laws and regulations that differ from country to country. That is particularly true for packaging and retail. Every country in Europe has its own set of rules for both packaging and retail, which creates many 22

Cannabis & Tech Today // Fall 2021

Photo: iStockphoto.com/Alphotographic

headaches for entrepreneurs and investors looking to operate in multiple countries. When most people think about entering the cannabis industry, they think of cultivation. However, there’s so much more to cannabis than producing harvests. Post-harvest involves several steps, including compliant packaging and transportation to the point of sale. Navigating from harvest to sale can be frustrating from an industry regulation standpoint, primarily when crops are exported throughout Europe. A More Homogenous Approach to Packaging and Retail Some countries in Europe, such as Germany, sell medical cannabis via pharmacies. Others, like Spain or the Netherlands, have a more disjointed approach to sales. In the future, cannabis will be sold across the European

continent via a buffet of options, including delivery, brick and mortar, and by mail, like they currently do in Canada. When that happens, Europe’s cannabis industry will finally reach its full potential. But, that will only occur after packaging rules are uniform across Europe. If a company has to make different packaging for every country, it drives up costs, leading to high prices in the legal marketplace. That expense could result in customers turning to the unregulated market. If the legal cannabis industry is ever going to compete with the unregulated market, retail options have to be robust. Europe will greatly benefit from the economic boost, job creation, and tax revenue that a thriving cannabis industry can provide. However, that will only happen if the people in power take a sensible approach to package and retail regulations. ❖


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Articles inside

The Lighter Side

3min
pages 156-158

The Science of Dabbing

5min
pages 140-143

Product Revolution

10min
pages 144-151

Events Calendar Coming Next Issue

1min
pages 154-155

Best Dispensary Logo in America

17min
pages 128-139

Managing an IT Ecosystem

34min
pages 104-121

Women + Weed

5min
pages 122-127

Ground, Sealed, Delivered

2min
pages 100-101

The Seeds of STEM Take Root

2min
pages 94-95

How Cold Can You Go?

2min
pages 92-93

What You Should Know About Terpenes

3min
pages 88-89

A Quick Cure for Preserving Crops

3min
pages 96-97

What’s in Your Fertilizer?

2min
pages 90-91

Time for a Change

2min
pages 98-99

Locking It Down

2min
pages 102-103

Bye, Bye Microbes

2min
pages 84-85

Expanding the Cannabis Social Network

8min
pages 70-75

What Are Nanobubbles

2min
pages 82-83

Is Cannabis Packaging Discriminatory?

5min
pages 58-61

Sustainable Packaging in 4 Steps

2min
pages 86-87

SevenPoint’s Inspiring Interior Design

5min
pages 66-69

Planet 13’s Retail Strategy

5min
pages 62-65

The Aftermath of Incarceration

5min
pages 76-81

Sustainable Investments in Cannabis

10min
pages 42-47

Big Ideas, Smart Packages

10min
pages 36-41

International

2min
pages 26-27

National Cannabis Party 2021 Recap

10min
pages 48-53

NACB

2min
pages 28-29

Event Wrap Ups

2min
pages 20-21

Know Before

2min
pages 24-25

By The Numbers

0
pages 22-23
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