What Is Next For The Cannabis Industry?
The emerging legal cannabis industry is continuing to undergo a dramatic evolution, particularly in Europe. The momentum for global reform is greater now than at any other time since the dawn of prohibition, and the biggest domino to date is teetering and getting closer to toppling with every passing day. That domino is, of course, Germany.
Cannabis advocates have fought for reform in Germany for many years, however, the legalization effort picked up considerable steam in mid-2021 when the results of the federal election that year yielded a governing coalition that quickly expressed its desire to modernize Europe’s cannabis policies.
Germany was already home to the largest legal medical cannabis industry in Europe at the time, and initially, it seemed that Germany would launch legal national adult-use cannabis sales in a quick fashion. Then, for over a year, German Health Minister Karl Lauterbach worked behind the scenes, with details of his legalization plan leaking every once in a while.
Eventually, Minister Lauterbach held a press conference in October 2022 to announce some of the provisions he would be seeking but made it abundantly clear that his next stop was the European Union to try to get its permission to proceed.
Unfortunately, the effort hit some turbulence once Germany’s Health Minister started negotiating with the European Union, with Minister Lauterbach providing an update in April 2023 in which he indicated that the European Union would allow parts of the previously outlined legalization plan to proceed and prohibit other parts.
The main component that the European Union stated it would not permit was nationwide adult-use cannabis sales to anyone of legal age. The blocking of that robust provision seemed to send many newer industry members into a bit of a spiral. The fact of the matter is that cannabis reform rarely, if ever, follows a linear path. It is full of twists and turns, and Germany is the latest example of that.
With those twists and turns comes opportunity, as not everyone is able to navigate the shifting landscape. People who are able to navigate the shifting landscape, that can identify trends, and maximize windows of opportunity, will reap significant rewards.
What legalization will ultimately look like in Germany once it is finally implemented is something that we will have to wait and see, however, the basic provisions are already known – personal cultivation, possession, and consumption will be legal and noncommercial clubs will be permitted.
Eventually, regional adult-use commerce pilot programs will launch as well. All of that creates opportunities for entrepreneurs, investors, and industry service providers if they know what to anticipate and where to focus on developing innovative ideas.
The best way to learn what is next for the emerging cannabis industry, both in Germany and beyond, is to hear from true international cannabis experts that spend every day on the frontlines of cannabis reform and industry. Fortunately, the upcoming International Cannabis Business Conference in Berlin, Germany later this month provides that exact opportunity.
Following yet another successful cannabis super-event in Barcelona, the International Cannabis Business Conference is once again bringing its flagship B2B event and tradeshow back to Berlin, Germany on June 29th-30th, 2023. In addition to the B2B event, which is the largest of its type in Europe, the International Cannabis Business Conference will also hold a Global Investment Forum in Berlin on June 27th.
Both events will feature leading cannabis industry experts, and the B2B event has a panel specifically dedicated to discussing what is next for the international cannabis industry now that the curtain dropped in Germany. The panel will feature:
- Moderator Kai-Friedrich Niermann, Founder, KFN+ Law Office
- Dr. Philipp Goebel, Managing Director, DEMECAN
- Sita Schubert, General Secretary, EUMCA
- Daniel Haymann, Legal Counsel, MME Legal
- Robert T. Hoban, Member, Co-Chair of the Cannabis Industry Group, & Member-in-Charge of the Clark Hill Law Office
Over 5,000 cannabis leaders from over 80 countries will be represented at the International Cannabis Business Conference in Berlin and that includes representatives from every sector of the industry as well as leading international cannabis policymakers and industry service providers.
Attend the International Cannabis Business Conference in Berlin to network with investors, entrepreneurs, industry regulators, and international policymakers and take your industry pursuits to the next level. Secure your tickets now before the event sells out!