State Of The Cannabis Industry: Spring 2021
Green shoots and leaves are poking up all over the place as the industry figures out how to survive the Pandemic as well as other powerful forces.
There is a sense within the industry these days that the long tail of the Pandemic might last for another couple of years, but this is no excuse for slowing down. Indeed, all over the continent, from business development meetings to organization of another kind, there is a sense of resolve that is evident. Namely, that while Covid might be still kicking ass, the industry is determined to power forward. After all, the veterans have seen bigger challenges go down (starting with any kind of legalization). Covid may be a global health emergency, but it is not the first that has helped shape the industry (starting with AIDS).
For this reason, from the medical side to those on the CBD side of the discussion, those in the thick of business development are having a busy spring just about everywhere in Europe.
Things to Be Aware Of:
Here are a few big-ticket issues that are certainly making a difference:
- The CBD industry is certainly taking off and going mainstream in interesting ways – no matter the still existent hurdles (and they exist, starting with Novel Food).
- The medical industry is still in the nascent stages of formation – starting with compliant cultivation and production.
- The entire conversation is going to get far more interesting thanks to the recreational trials in Luxembourg and Switzerland. Namely, other European countries are going to be given a model to begin to follow or adapt in the face of tailwinds from a Pandemic where almost every form of economic development is on the table. This includes cannabis – and even in Germany. In the meantime, the medical conversation will continue to go forward, no matter how frustrating it can be from the front end of the trenches.
- Paths to market and accessibility will continue to improve, but behind all these developments is certification. Financing will become more and more dependent on the same (including going public). See the activity on the London Stock Exchange.
The entire industry in other words, is pulling its proverbial socks up and getting ready for the next stage of development just about everywhere. Europe, certainly, is at a turning point.
The firms that will prosper in the next 24 months are those who can swiftly adapt and turn to changing market conditions.
Be sure to book your tickets now for the return of the International Cannabis Business Conference to Europe in July!