Keywords: Cannabis production in Europe, Marijuana production in Europe
Cannabis Production in Europe Europe is waking up to the massive potential of cannabis production Europe is on the forefront of major change in the production and distribution of medical cannabis. International Cannabis Corp. (ICC) is standing at the precipice of that change, a catalyst in the areas of medical marijuana production, manufacturing and distribution in Europe. Every aspect thoughtfully engineered to solidify ICC and its partners as strongholds in the European and global cannabis market.
First steps in a new market Europe is aligned to become the fastest growing cannabis market globally. With double the population of Northern America and growth numbers for the past year totalling the previous six years combined, Europe is a sleeping giant that has far from shown the full extent of its strength. This has not always been the case. Most countries in Europe have taken a more conservative view on cannabis and marijuana production. Many have understood the benefit of producing hemp for industrial and textile purposes but placed cannabis on the list of illegal drugs. Ironically, in 2001 Portugal became the first country, not only in Europe but globally, to decriminalize marijuana. Uruguay was the first to fully legalize marijuana in 2013, but European countries were not so quick to follow. Canada and South Africa were the next to legalize cannabis as recently as last year, others decriminalizing and legalizing medical marijuana. Europe has not warmed to the idea of regulated recreational marijuana use as quickly as Canada and some states in the US have, but it is starting to see the potential, both in the health benefits and revenue stream, of medical cannabis. Consultancy.eu reported that over €500 million has been invested in the cannabis industry, with France, the United Kingdom, Spain, Germany, Italy and the Netherlands leading the charge in what is projected to become a €123 billion industry by 2028. The focus in Europe is now on creating legislation and expanding the pharmaceutical programs and distribution reach already in place.
The growth potential of medical cannabis in Europe According to Prohibition Partners, the European population is 745 million, with a healthcare expenditure of €2 .3 trillion. Of these, 25 million are cannabis users, and this is in a relatively conservative market in the current day. The medicinal cannabis market in Europe is still very much in the upturn, not near to reaching its full growth potential. By 2028, the estimated medicinal marijuana market in Europe is suggested to reach €5 8 billion. It is one thing to look at how legalization of medical marijuana will affect the growth of the market itself, but data suggests that may be just a drop in the bucket for the country that can focus on cannabis production. Medical marijuana production, legalization and distribution can lead to an increased
number of employment opportunities and increased income into the country, if export opportunities are explored. Although the data is new and based on the recent legalization in the United States and Canada, early signs show huge positive economic growth potential for Europe.
What if recreational marijuana production was explored? If the thinking around recreational marijuana could be expanded into a legal framework, the potential revenue for the market would double to over €1 15 billion within 10 years. The medical benefits of marijuana have been explored, but recreational usage is still faced with cynicism and is a polarizing and contentious debate in most countries still. Legalization of recreational use is not off the table however, with many hoping that global legalization will result in the disbandment of the marijuana black market and any criminal element still left within the industry. The proceeds of recreational marijuana production are better spent on strengthening the economy of the country than lining criminal pockets. Europe will continue to follow reports coming from the US, from states like Colorado, which is now into it its fifth year of legalization, and from Canada, which is still in early stages of development, but is already seeing the economic benefits. Germany, Denmark, Malta, Italy and Greece are the most open to a fully regulated cannabis market and will likely be the first within Europe to explore this route, with Luxembourg who has made steps for a fully legalized market for adults by 2023.
ICC stands poised to supply demand in all potential sectors of the market in Europe In cannabidiol (CBD) production, International Cannabis Corp. (ICC) recently announced their partnership with Wayland Group. The companies will introduce extraction, distillation processes and finished dose manufacturing into their CBD product plan for the European market. ICC also has holdings in Germany, Poland, Portugal, Greece, Italy, Malta, Macedonia, and Bulgaria with goals of increasing CBD production ten-fold in those countries, and to distribute to 160 clients in over 16 European countries through Marathon Global and Cosmos Holdings. In medical marijuana production, ICC holds licenses in Denmark, with a 100-acre land package and allowance of bulk exports out of the country. Through their partnership with Theros Pharma Ltd., ICC successfully imports into the UK for patients holding a prescription for medical cannabis. In Switzerland ICC is the only company to import THC distillates into Switzerland from Canada. In partnership with BBI and Hilti in the country, ICC is poised to be the first commercial production THC license holder in Switzerland, the same is true for Italy. ICC holds a medical cannabis cultivation license in Greece, and to manufacture finished-dose medical cannabis in Malta. In the Balkans, ICC has exclusive license to cultivate, manufacture and export medical cannabis. ICC is partnering with Alkaloid AD Skopje in Macedonia to explore modern developments in pharmaceutical grade marijuana. Alkaloid AD Skopje also has many years of experience in cosmetics, which may lead to a new edge in the cannabis production market.
Ultimately, ICC’s CBD market is well-developed and cemented in Europe, ready to expand as the new users start to learn the benefits of CBD products. ICC is ready to take on the potential monstrous demand of Europe’s medicinal marijuana needs as they grow, with cultivation, production, extraction, manufacturing and distribution stations set up across Europe. All these facilities are also easily able to focus on recreational cannabis production if this became a new focus in Europe or globally.
The chains of resistance are starting to fall in Europe Europe has been held back by a lack of knowledge and understanding of the benefits of medical cannabis, as well as the stigma of cannabis being deemed illegal and labeled the same as harmful narcotics like heroine and cocaine. In most European countries the laws need to be revised. Even if the perception of the country has changed, this can take years. New industries can also take several years to become fully established, licensed and regulated. Europe is playing catch up to a modern thinking. As resistance has started to fall aside to make way for understanding and consideration of the medical and economic benefits of cannabis, ICC has been working to research the best strains, implement successful processes, build facilities and manufacturing support, and establish distribution channels ready to go as each country gives the green light. Europe is certainly no longer denying the prospects of the cannabis market. The sleeping giant has only opened one eye to the potential growth of the cannabis sector. ICC is ready to partner with Europe as it awakens fully to the sheer magnitude of the market it is sitting on.