Cannabis legalization is clearly making great progress across the globe, but one country that is somewhat flying under the radar is Switzerland, where high CBD cannabis is being sold to consumers legally, sometimes as a “tobacco substitute.” The potential for Swiss farmers and entrepreneurs is great, especially if the nation continues to make strides in fully legalizing cannabis, THC or CBC percentages notwithstanding. The current progress and bright future of the market is why CannaTrade in Zurich is Europe’s Oldest hemp fair, where cannabis investors, entrepreneurs will flock to this May 17th-19th. The International Cannabis Business Conference is proud to partner with CannaTrade by hosting one of our trademark events in collaboration on May 16th.
One similarly small nation that is both seen as a rival and a partner to Switzerland is Israel. Both innovative nations are in a race to see who can advance more efficiently and effectively as the Swiss-weekly Handelszeitung reported on the multi-billion dollar industry:
Hemp has already been prepared for export in dozens of hectares in Israel. The main target market for both Israel and Switzerland is Europe. Politicians and companies in Switzerland have now recognized that it is urgent. Slowly but surely the Confederates follow suit. Local farmers are also planting the profitable “grass” on several hectares of cultivated land. For food, soft drinks, beer, tinctures, medicine-like products, and tobacco products. Swiss farmers are already dreaming of up to 500 hectares of cultivated land in the coming months and years.
The Swiss companies Pure, Tellement Facile and Creso Pharma are experimenting with cannabis, cultivating hemp, wanting to patent their products and making world-wide business models from seed to pill. Genfer Pharmotech is researching an antibiotic with CBD and conducting clinical trials at the Unispital Lausanne. The Ticino-based company Crystal Hemp offers a CBD product that has already been recognized by Swissmedic in Switzerland.
Five amazing facts about cannabusiness
Boom. In the first half of 2018, the high-income cannabis market in Europe grew faster than in all five years before. Nevertheless, 2.5 times more people in Africa consume cannabis than in Europe.
Expenditure. According to the online information platform “Marijuana Business Daily”, Americans spend less on cannabis than on beer and cigarettes. But already more than for movie tickets, glaces and frozen pizzas.
More than maple. Canada is the largest fully legalized cannabis market in the world. Canadians aged 15 to 64 spent $ 5.5 billion on cannabis last year, or $ 1,200 per capita per year.
Mrs. Flower. In companies around the world that do business with cannabis, the proportion of women in company bosses is well over a third – compared to all other industries, where the share is one-fifth.
Steep curve. In 2017, the global cannabis market was $ 7.7 billion. Brightfield market researchers estimate the market will reach 30 billion by 2021. Of these, the medical CBD share is expected to double to 2 billion.
Switzerland has forged a unique path for itself, avoiding international entanglements while welcoming beneficial relationships. It appears that the Swiss cannabis industry has an opportunity to create an outsized niche for itself while helping lead the world towards more reasonable and lucrative cannabis policies. With politics and regulatory bodies involved, there will always be challenges, but the cannabis market in Switzerland is poised for a very bright future, especially if advocates and industry participants successfully convince policymakers to seize the day.